Ink Solvents Market Valuation to Reach US$ 1.3 B by 2031, Notes TMR Study
- Solvents for alcohol inks find massive adoption in packaging sector; rise in use of flexographic printing inks in textile printing and advertisement spurring consumption of solvents, pivoting on preference of these for diverse substrates
- Bio-based solvents for printing inks presenting value-grab opportunities for companies in ink solvents market; Asia Pacific to witness substantial lucrative opportunities
ALBANY, N.Y., June 2, 2022 /PRNewswire/ -- Manufacturers of ink solvents have garnered massive revenue streams from abundant use of the products for printing on wide range of substrates. The revenue of ink solvents market is growing in size from extensive demand for these in printing for packaging sector, especially for flexible packaging products. A TMR study scrutinizing the ink solvents market expansion trends has forecast the global valuation to reach US$ 1.3 Bn by 2031.
Rise in demand for packaging in various end-use industries has spurred sales of printing inks, which has propelled revenue growth of the ink solvents market. Widespread consumption of flexographic printing inks in media and advertisement, where they are preferred particularly for large format printing has created largest opportunity for ink solvents market.
Solution providers in the ink solvents market are geared toward exploring niche applications of ink solvent to capture new customer propositions. In particular, they are leaning on developing next-gen solvents that can enable them to meet exacting specifications of the paper, packaging, and publication. This will catalyze ink solvents market expansion.
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Key Findings of Ink Solvents Market Study
- Abundant Demand for Alcohol Ink Solvents Underpins Vast Market Prospects: Alcohol ink solvents are one of the key market segments in ink solvents. They have gained substantial adoption for printing applications in the packaging and paper industries. The TMR study authors have projected the segment to advance at CAGR of 5.7% during 2022–2031. Growing uptake of oxygenated solvents in printing inks industry has spurred product adoption. Rise in consumption of printing inks will steer stable lucrative avenues for players in the ink solvents market.
- Massive Utilization of Flexographic Printing Inks in Multiple Printing Applications Steering Revenue Growth: The authors of the TMR study found that steady uptick in demand for flexographic printing inks for printing especially on smooth surfaces has propelled the sales of products in the ink solvents market. Abundant demand for these printing inks in advertising media and textile industries is likely to create massive revenue streams. Strides made in packaging sector have catalyzed the demand, since these ink solvents are viewed as compatible with a wide range of packaging materials.
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Ink Solvents Market: Key Drivers
- Need for inexpensive printing inks for textile printing applications is a key driver of ink solvents market
- Continuing strides in consumer-packaged sector has been generating abundant lucrative opportunities for players in the ink solvents market. The compatibility of ink solvents with inkjet printers has underpinned profitable avenues.
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Ink Solvents Market: Regional Growth Dynamics
Asia Pacific held a major share in terms of volume of the global ink solvents market in 2021. Substantial uptake of flexographic printing inks over the years has propelled expansion of the regional market. A large part of the consumption has emanated from developing economies, fueled by rising adoption of ink solvents in textile and advertisement industries.
Europe and North America have also contributed massive revenue streams to companies in the ink solvents market. Extensive R&D activities continue to catalyze the prospects of these regional markets.
Ink Solvents Market: Competition Landscape
Few large-scale vendors control a major share of the global ink solvents market, rendering the overall landscape a fairly consolidated one. Top players are increasingly leveraging mergers and acquisitions to bolster their positions. Additionally, many companies are keenly adopting product diversification.
Some of the prominent players in the ink solvents market are LyondellBasell Industries, Yip's Chemical Holdings Limited, INX International Ink Co., Sasol Limited Group, Sun Chemical, ALTANA, Vertec Biosolvents, INEOS AG, Celanese Corporation, Eastman Chemical Company, Royal Dutch Shell plc., DowDuPont Inc., and Exxon Mobil Corporation.
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Ink Solvents Market Segmentation
- Solvent Type
- Others (including Esters and Ethers)
- Others (including Screen and Digital)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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