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The Ink Solvent Market is experiencing several notable trends that are shaping its landscape:
Shift towards Environmentally Friendly Solvents: One of the prominent trends in the ink solvent market is the increasing demand for environmentally friendly solvent options. With growing environmental concerns and stricter regulations on volatile organic compounds (VOCs), there is a shift towards eco-friendly solvents derived from renewable sources or formulated to have low VOC content. Manufacturers are innovating to develop solvent formulations that meet sustainability goals while maintaining high performance in various printing applications.
Adoption of Bio-based Solvents: Bio-based solvents, derived from renewable resources such as plant-based materials or agricultural waste, are gaining traction in the ink solvent market. These solvents offer a more sustainable alternative to petroleum-based solvents, reducing dependency on fossil fuels and minimizing environmental impact. As consumers and industries prioritize sustainability, the demand for bio-based ink solvents is expected to continue rising.
Focus on Low Odor Formulations: Another trend driving the market is the demand for ink solvents with low odor properties. Printing applications in enclosed environments such as offices, homes, and commercial spaces require solvents that emit minimal odor during printing processes. Manufacturers are developing low odor solvent formulations to address this demand and improve user experience, particularly in indoor printing applications.
Rise in Digital Printing Technologies: The proliferation of digital printing technologies such as inkjet and UV-curable printing is influencing market trends in ink solvents. These technologies offer advantages such as high-speed printing, on-demand customization, and reduced waste compared to traditional printing methods. As digital printing continues to gain popularity across various industries, there is a growing demand for compatible solvent formulations optimized for digital printing processes.
Demand for Specialty Inks: The market is witnessing a rise in demand for specialty inks, including metallic inks, fluorescent inks, and security inks, which require specific solvent formulations. Specialty inks are used for applications such as packaging, labeling, and security printing to enhance visual appeal, brand differentiation, and counterfeit deterrence. Ink solvent manufacturers are developing specialized formulations to meet the unique requirements of specialty ink applications.
Focus on Performance and Compatibility: Ink solvent manufacturers are increasingly focusing on developing solvents that offer superior performance characteristics and compatibility with a wide range of substrates and printing equipment. High-performance solvents ensure optimal ink flow, drying time, adhesion, and color consistency, leading to high-quality prints and improved printing efficiency. Compatibility with different printing technologies and substrates enhances versatility and market competitiveness.
Expansion in Packaging and Labeling Applications: The packaging and labeling industry is a significant consumer of ink solvents, driving market trends in this segment. With the growing demand for packaged goods and consumer products worldwide, there is an increasing need for high-quality printed packaging materials and labels. Ink solvents play a crucial role in formulating inks for flexible packaging, labels, cartons, and corrugated boxes, catering to the diverse requirements of the packaging industry.
Technological Advancements in Solvent Formulations: Technological advancements in solvent formulation processes are driving innovation and product development in the ink solvent market. Manufacturers are investing in research and development to improve solvent properties such as drying time, color stability, print adhesion, and resistance to fading and abrasion. These advancements enhance the overall performance and reliability of ink solvents, meeting the evolving needs of printers and end-users.
Globalization of Printing Industry: The globalization of the printing industry is influencing market trends in ink solvents, with manufacturers expanding their presence in emerging markets and catering to diverse regional requirements. As printing activities and demand for printed materials grow in regions such as Asia-Pacific, Latin America, and the Middle East, there is an increasing need for locally produced ink solvents customized to regional preferences and regulatory standards.
Ink Solvent Market Highlights:
GLOBAL INK SOLVENT MARKET OVERVIEW
Ink solvent market is expected to grow USD 920 Million at a CAGR 5.40% during the forecast period. Ink Solvent is used largely for commercial, industrial, and household printing. Some of the solvents which are in huge demand and are used for manufacturing the ink are methylated spirits, isopropanol, ethyl acetate, and n-propyl acetate. It being more efficient, along with having a high evaporation rate are rising the market size. It is available at a very cheap rate. It having non-coating properties are the most important factor prompting market growth. It has been used in some of the printer machines like Roland SOLJET Pro 4, FY3208H Solvent Flex Printer and XR-640 has an increasingly high production rate and the ink here can dry up faster. Due to all of these factors, these printers have been used up for packaging purposes, publication, corrugated, and many more.
Moreover, alcohol has been widely used for printing purposes. It is used for reducing the surface tension and imparting corrosion resistance technology to the machines. Moreover, these printing machines are available at high costs and have some toxic characteristics, and their less conductivity nature has restrained the market development.
March 2022: Groupe Berkem—a bio-based chemicals major, underlined this when it introduced a range of alkyd resins manufactured from organic solvents derived from renewable sources only meant for construction paints. This development leverages existing products into sustainable ones through bio-oils producing organic chemistry by-products together with bio solvent made entirely from biological origins – this way, it contributes to global paint solvent market by providing eco-friendly alternatives to construction paints.
The Global Ink Solvent Market Share by Application
Regional Analysis
The Ink Solvent Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market due to the growing consumption of the product in packaging, corrugated, publication, and others. The increasing demand for packet food from packaging sector and growing research & development activities in end-use industries has propelled the region to witness a higher growth over the assessment period. Countries such as China, Japan, and India are the major players in this market.
The North America region is growing significantly in the market due to increasing mergers & acquisitions of Ink Solvent product among the major companies. It is predicted that growing investments in the end-use industries is likely to drive the market in the region during the forecast period. The growing consumption of Ink-Solvent in packaging sector has propelled countries such as the U.S., Canada, and Mexico to achieve a stunning growth in the market as they provide excellent flexibility, stability and low maintenance to the product.
The European market has also observed a remarkable growth due to the implementation of new rules and regulations proposed by the government to follow bio-based solvents in the production of glazed and transparent paper. The market has been driven by the application of this rule in packaging, corrugated, and publication segments. It is estimated that the growing innovation and technological advancement are predicted to propel the growth in countries such as the U.K, Italy, Germany, and France during the forecast period.
The Latin American region is estimated to witness a recognized development in the market due to growing publication and promotion activities in food & beverage sector. Moreover, the Middle East & Africa is anticipated to witness a higher growth in the market due to growing research & development activities of the product in end-use industries.
Segmental Analysis:
The Global Ink Solvent Market is segmented into the chemistry type, product type, process, and application. On the basis of the chemistry type, the market is segregated into alcohols, acetates, and hydrocarbons segments. The market by product type is sub-divided into conventional, green & bio-based segments. The market by the process is classified as flexographic and gravure segments. The market by application is bifurcated into packaging, corrugated, publication, and others.
Key Players:
Some of the prominent players operating in the Global Ink Solvent Market are Arkema S.A. (France), Ashland (U.S.), BASF SE (Germany), Celanese Corporation (U.S.), The Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), Evonik Industries AG (Germany), INEOS (U.K.), OMNOVA Solutions Inc (U.S.), and Royal Dutch Shell plc (the Netherlands) among others.
DuPont plans to display its newly introduced inkjet product series at its Drupa stand (Hall 8B/B13). The PN 1000 ink family consists of low-viscosity water-based pigment inkjet inks produced using patented DuPont technology for the commercial printing industry. DuPont claimed that it is compatible with industry-standard drying processes.
Mimaki Europe will launch a new large format inkjet printer series, the 330 Series, in 2022, which includes the JV330-160, CJV330-160, and TS330-1600, as well as a new line of CG-AR cutting plotters. The 330 Series, which debuted at Mimaki's Global Innovation Days event, takes advantage of the company's cross-platform strategy to provide a high-end yet cost-effective printing solution across a variety of industries. Similarly, the CG-AR Series provides users with innovative workflow-enhancing entry-level cutting plotter technologies.
In 2020, INX International Ink Co. stated that its South American business had merged with parent corporation INX do Brasil. This is a stronger direct approach for INX products into the South American market, including branch establishment, acquisitions, future investments and expansion plans for next year 2021.
Geographical Analysis:
The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
Industry News:
In 2023, Sun Chemical announced the launch of its novel SunPak® solvent-based inks for packaging applications. SunPak inks are intended to offer high-quality printing and outstanding performance on a range of packaging materials.
In 2023, Flint Group announced the extension of its portfolio of solvent-based inks by launching its new NovaJet® inks for digital printing applications. The NovaJet inks have been formulated to ensure quality printability and excellent performance on diverse digital printing substrates.
October 2023: BASF introduced its latest offerings for homecare, industrial & institutional cleaning, as well as personal care, during the SEPAWA Congress held in Berlin.
In 2022, BASF launched AcroJet®, a new ink series based on solvents for inkjet printers. AcroJet inks provide high quality prints with superior performance on different inkjet printer’s media types.
April 2022: Solvay revealed that it had started production at the Melle plant, a novel Eco-friendly solvent called Rhodiasolv IRIS. This efficient solvent is non-flammable, readily biodegradable, low volatile and non-CMR (carcinogenic mutagenic reproductive toxic). It used, among others, in the formulation of phytosanitary products, paint stripping, graffiti and resin clean-up, industrial cleaning, and agrochemistry.
Intended Audience
- Ink Solvent Market Manufacturers
- Traders and Distributors of Ink Solvent Market
- Production Process Industries
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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