Global Ink Solvent Market - 2022-2029

Global Ink Solvent Market - 2022-2029

Market Overview

The global ink solvent market reached US$ XX million in 2021 and is growing at a CAGR of 5.38% during the forecast period 2022-2029.

The term ink solvent refers to ink that has an oil-based solution. The ink is a low-cost type of ink used in inkjet printers. Solvent inks have the advantage of being waterproof, making them resistant to fading and wear. Due to the pigment bonds effectively with these materials, it is a frequent ink used to print on various uncoated banners and vinyl. The solvent will normally evaporate or be flashed off using the printer's heaters, leaving the pigment on the material. Because of its capacity to attach to non-absorbent materials, ink solvent is used to print on outdoor products. The ink can withstand fading for five to seven years, making it ideal for long-term outdoor banners.

However, the presence of volatile organic components in this ink necessitates venting. Because of its capacity to attach to non-absorbent surfaces, solvent ink is most suited for printing products used outside. In addition to being fade-proof, waterproof and scratch-resistant, solvent ink has other benefits.

Market Dynamics

Rising need for eco-solvent ink

The rising concerns about printing with solvent inks have resulted in introduction of eco-solvent inks, also known as mild solvent inks years. The new form of ink enables printing in enclosed places without the risk of harmful fumes being inhaled by the print technician. Although the early eco inks were not of comparable quality, the color and durability of these safer inks have greatly improved over time, and the cost has constantly decreased. The colors are suspended in a mild biodegradable solvent, so these inks have no odor and consequently contain fewer volatile organic chemicals.

Various leading companies have new products that can replace traditional solvent inks. For instance, in 2021, MUTOH America has launched MS41 Orange Ink, a new color addition to its Eco-Solvent line of inks. It has exceptional adhesion and is ideal for indoor/outdoor signage, banners, window vinyl, decals and more. The product is GREENGUARD Gold Certified, signifying low-emitting volatile organic compounds and is safe to use in susceptible areas such as hospitals, schools and daycare facilities.

Presence of substitutes

Water-based ink in the flexographic printing and packaging sector has received increased attention as environmental concerns and sustainability awareness have grown. Water-based ink emits fewer VOCs, which is good for the environment. As a result, when compared to solvent-based ink, the cost of pollution is significantly lower.

For example, the cost of pollution emission permits, the cost per unit of pollution output and the cost of waste disposal, such as the catalytic converters required to break down dangerous particles during VOC combustion. Solvent-based ink storage is more expensive than water-based ink storage because it is more explosive and thus more prone to explosion and fire. In terms of preventing work environment hazards, water-based ink is priceless.

COVID-19 Impact Analysis

The aftermath of COVID-19 on the global ink solvent market tends to be stable. Many countries have been shut down due to COVID-19, resulting in low demand from the market's end-use industries. COVID-19 has disrupted the operations of several industries, including food and drinks. Because ink solvent is widely used for labeling in various industries, the global decline of the end-users is directly restraining the ink solvent market growth during the pandemic.

However, the ink solvent market has seen a positive demand from the e-commerce industry during the pandemic. Due to the highly transmissible delta form, COVID has resurfaced in many places in Southeast Asia. Many e-commerce industries have developed due to intermittent lockdowns and movement restrictions that make it difficult for consumers to visit brick-and-mortar stores. A recent poll indicated that the percentage of respondents who said they purchase primarily online increased from 33% in 2020 to 45% this year, with Singapore, Malaysia and the Philippines seeing the biggest growth.

Segment Analysis

The global ink solvent market is segmented based on chemistry, source, process, application and region.

The rising sales of flexible packaging are boosting the demand for ink solvents

The global ink solvent market is segmented into packaging, automotive, paper & publication, and others based on application.

Flexible packaging is widely used in various industries, from consumer goods to industrial uses. Flexible packaging printing employs both flexographic and gravure printing techniques. Because these two printing methods use the same raw materials, there are common recommendations for selecting raw materials for both printing methods. Polyethylene, polypropylene and eurcamide waxes are the most common waxes used in solvent-based flexible packaging inks to impart slip to the ink surface. The packaging industry sector has positioned itself as one of the fastest expanding industries globally and has a massive need for solvent inks.

Various companies have launched new types of ink solvents, especially for flexible packaging. In 2021, Flint Group Packaging Inks enhanced its solvent-based inks range for European customers. The ONECode range is designed to streamline the flexible packaging printing process, reducing process waste and increasing ease of doing business. The ink systems were developed to unlock the complex landscape of flexible package printing to clarify, connect and bring transparency to the flexible packaging industry.

Geographical Analysis

Need for labeling in various end-users is growing the demand in Asia-Pacific

The expansion of packaging industries in emerging nations is a major factor in market growth. In India, packaging is the fifth biggest sector in its economy and is one of the highest growth sectors. According to the Packaging Industry Association of India, the sector is growing at a CAGR of 22% to 25%. The industry is worth more than US$ 917 billion in 2019, growing at a CAGR of 2.8% to reach US$ 1.05 trillion by 2024. The Indian packaging industry is currently $18.8 billion, with a growth rate of 12.36% per annum.

Moreover, the regulations related to food packaging will also impact the market's growth. According to the Food Labeling Standards of China (GB7718-2011), imported foods shall maintain clear markings that indicate the country of origin and the address and name of the distributor registered in the country. The demand for online shopping has surged in emerging countries for plastic bags, labels and invoices are used for packaging, which requires printing inks to label deliverable packages. China's commerce ministry said that it aims to see online retail sales in the country rise to US$ 2.66 trillion by 2025 in a statement of its 14th five-year plan for the e-commerce industry.

Competitive Landscape

The global ink solvent market is moderately competitive due to the presence of several local and global brands. Players in the market include Solvay AG, Arkema S.A, BASF SE, Ashland, Celanese Corporation, Dow Chemical Company, INX International Ink Co, Archer Daniels Midland Company, Cargill, Eastman Chemical Company, INEOS and others. The players in the market are known to incorporate numerous market strategies to achieve growth in the global ink solvent market; these include acquisitions, mergers, product launches, contributions and collaborations.

INX International Ink Co

Overview: INX International Ink Co. is one of the largest producers of inks in North America, with full-service subsidiaries in South America and Europe and is part of Sakata INX worldwide operations. The company's complete line of ink and coating solutions technology for packaging and commercial and digital applications. As a leading global inkjet inks manufacturer, the company provides a full palette of digital ink systems, advanced technologies and integrated services.

Product Portfolio:

RotoFlex HRC Natural-based Inks: A solvent-based ink system intended for surface printing on PE coated substrates. It is formulated to replace petro-chemically derived materials with naturally occurring ingredients without sacrificing processing, machine and end-use product performance.

Key Development:

In 2020, INX International Ink Co. announced that its South American business had merged with parent corporation INX do Brasil. The process delivers a stronger direct approach for INX products in the South American market, including branch establishment, acquisitions, future investments and expansion plans for 2021.

Why Purchase the Report?

To visualize the global ink solvent market segmentation by chemistry, source, process, application and region and understand key commercial assets and players.

Identify commercial opportunities in the global ink solvent market by analyzing trends and co-development.

Excel data sheet with numerous ink solvent market-level data points with four segments.

PDF report consisting of cogently put together market analysis after exhaustive qualitative interviews and in-depth market study.

Product Type mapping available in excel consists of key products of all the major market players

The global ink solvent market report would provide approximately 69 tables, 63 figures and almost 190 pages

Target Audience 2022

Buyers

Manufacturers

Raw Material Providers

Packaging Companies

Publication Companies

Industry Investors/Investment Bankers

Education & Research Institutes

Research Professionals

Emerging Companies

Manufacturers

Logistics companies

Distributors