Ink Solvent Market Scope

Ink Solvent Market is projected to be worth USD 920 million by 2028, registering a CAGR of 5.40% during the forecast period (2021–2028).

Prominent Boosters and Challenges

The ink solvent industry relies primarily on the packaging industry and its growth. Therefore, the rapid surge in the packaging sector worldwide has been quite favorable for the Ink Solvent Market size; owing to its extensive applications as well as its high resistance to adverse weather conditions. Ink solvents are widely used on packages of several types. Moreover, the market for bio-based printing inks has been scaling new heights due to their eco-friendly nature and the lack of any toxic substances. Currently, majority of bio-based printing ink solvents are developed from sugars, rice bran oil, polysaccharides and dextrin, and can note robust demand in the next several years.

The growth of the ink solvent market is driven by the increasing demand for printing and packaging products, growing usage of eco-friendly solvents, and advancements in printing technology. The rise in the adoption of digital printing and packaging is also expected to drive the growth of the market.

However, stringent government regulations and the negative impact of ink solvents on the environment may hamper the growth of the market. Nevertheless, the increasing demand for bio-based ink solvents and the development of water-based solvents are expected to provide ample growth opportunities for the ink solvent market in the future.

In conclusion, the global ink solvent market is poised for strong growth in 2023 and beyond, driven by the increasing demand for printing and packaging products and the rise of eco-friendly solvents.

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Segmentation Insight

Ink solvent industry has been segregated with respect to chemistry type, product type, process, and application.

In terms of chemistry type, the key categories are acetates, hydrocarbons and alcohols.

The major product types considered in the report include green bio-based and conventional. The green and bio-based product segment is in the lead, given the significant demand for cost-effective and low emission inks among textile and packaging manufacturers. Moreover, the imposition of strict government standards that pertain to environment conservation will enhance the demand for these types of ink solvents.

The processes listed in the market study are gravure and flexographic. The flexographic segment should emerge on the top, owing to the extensive use of printing metallic films, cellophane, plastics and several smooth substrates needed in different types of packaging. It is also ideal for high-quality printing format and wide format printing. The highest demand for flexographic printing can be witnessed in the food packaging segment.

Prominent Companies

The affluent companies operating in the market for ink solvent are Ashland (U.S.), Royal Dutch Shell plc (the Netherlands), Celanese Corporation (U.S.), INEOS (U.K.), Arkema S.A. (France), Evonik Industries AG (Germany), BASF SE (Germany), OMNOVA Solutions Inc (U.S.), The Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), to mention a few.

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Regional Status

Ink solvent market has been regionally considered for APAC or Asia Pacific, Europe, North America, MEA or Middle East Africa and Latin America.

Asia Pacific has taken the lead with the biggest share in the global industry, thanks to the escalating use of ink solvent in publication, corrugated, packaging, to name a few. Enhanced preference for packaged food among consumers and the surge in research and development activities to produce ink solvents with better features should ensure APAC retains its top position throughout the given period. Japan, India and China are the market leaders in the region, given the rise in digitalization and urbanization that bolsters the demand for ink solvents.

North America will procure a high position in the global market as well, in view of the frequent mergers acquisitions and partnerships taking place between ink solvent manufacturers in the region. It is expected that rising spending by major industries, especially the packaging sector in Canada, Mexico and the US will facilitate excellent market growth in the following years.

The European market is set to perform remarkably well in the coming years, largely due to the implementation of strict regulations by the government with respect to bio-based ink solvents for producing transparent and glazed paper. The regional market also gets a boost from the escalating product use in corrugated, publication, and packaging segments while the surge in technological innovations will also ensure further revenue generation. Some of the key markets in the region are the U.K., Germany, France and Italy.

The market in Latin America will experience stupendous development over the next few years, given the rise in publications as well as promotional activities in various industries, especially in food beverage. The market in the region will also be encouraged by the soaring number of research development activities by the end-use sectors.

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