Global Ink Solvent Market Research Report by Chemistry Type (Alcohols, Acetates, Hydrocarbons), by Product Type (Conventional, Green & Bio-Based), by Process (Flexographic Gravure), by Application (Packaging, Corrugated, Publication) – Forecast till 2023
Pune, India -- (SBWIRE) -- 03/05/2018 -- Segmentation:
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 the 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 the application is bifurcated into packaging, corrugated, publication, and others.
Some of the well-known 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.
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Ink Solvent is used in a wide variety of applications, due to their capability of offering superior performance, enhanced efficiency, and reliable nature to the printing machines. Thus, they are used in various applications such as packaging, corrugated, publication, and others. The Global Ink Solvent Market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing consumption of ink solvents in corrugated cardboard, paper, plastic packaging, and others. It is estimated that the flexible packaging segment is set to observe the highest CAGR in the market due to growing consumption of ink solvents on labels and price tags in this region. Moreover, increasing demand for eco-friendly solvents in printing newspapers, glazed paper, and others is likely to witness a rapid growth during the forecast period. These factors have led China, India, and Japan to be the major players of this region.
The North American market is expected to grow at a higher CAGR due to growing partnerships and agreements between the leading companies. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in end-use industries. Therefore, the growing demand for bio-based solvents in packaging, and publication segments are estimated to drive the market during the forecast period.
A significant development is observed in Europe due to the growing demand for ink solvents in printing various templates, wallpapers, and others. The rapid urbanization coupled with technology have propelled the market to witness a better growth. Thus, countries such as Germany, the U.K, and Italy are the major contributors to this market.
A considerable development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing promotional activities and digital marketing. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing consumption of ink solvent in packaging, publication, and other segments.
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