Ink solvents have a highly diverse application pool. It includes printing, outdoor products, packaging, plastic printing, tech products, and bottle printing. These solvents are essential for the effective marketing of many consumer products such as paints and coatings, personal care products, cleaning products, automotive, and healthcare applications. With time, many types of ink solvents have emerged including alcohols, hydrocarbons, and scented solvents. Each product category has carved its own niche in the overall ink solvents market. The presence of multiple favourable factors has contributed to the rapid growth of the global ink solvents market throughout the study period. In such a business landscape, novel techniques such as flexography are becoming popular. Moreover, promising trends in the packaging industry are projected to provide the impetus for widespread market expansion in the coming years.
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Thriving Packaging Industry to Create Significant Growth Prospects
The flourishing packaging sector is contributing to the paced growth of the ink solvents market. Flexible packaging is gaining traction and ink solvents are used in the formulation of printing inks to aid the ink flow into the substrate. The convenient packaging of consumer goods, trouble-free customisation, lightweight features, and relatively higher affordability are constituting fruitful business opportunity creation. Soaring demand and competition in the skincare and cosmetics industry are also furthering the market expansion. Moreover, the growth of the e-commerce sector is enabling more effective marketing of niche products, a streamlined supply chain, and efficient product discovery. As these co-dependent markets flourish, the global ink solvents market is also poised to showcase promise.
Rapid Adoption of Flexography to Sustain Promising Market Expansion
Of late, many innovative printing techniques have been becoming popular. Flexography is a technique which uses rotary printing to apply ink to varied surfaces via flexible rubber printing plates. The plates can also be made up of other elastomeric materials. Flexographic printing is commonly used for printing on metal films, plastics, cell phones, and other smooth surfaces for packaging. Moreover, its large-format printing and high-quality printing are also attracting the market players’ attention. Food packaging, advertising, and textile sectors are actively employing flexographic printing due to its notable benefits. The cumulative force of these factors is expected to lead the global ink solvents market to maturity in the forecast period.
Asia Pacific to Lead Ink Solvents Market on Account of Widespread Consumer Goods Applications
Paced growth in co-dependent sectors and growing adoption of flexographic printing techniques are boding well for the ink solvents market in Asia Pacific. High population, rapid urbanisation, high disposable incomes, presence of major market players, and thriving textile and advertising sectors are cumulatively catapulting the region to a market leadership position. Major economies such as China, India, Vietnam, and Indonesia are major contributors to this trend. Other favourable factors for the regional market expansion include high disposable incomes and greater awareness among customers.
Prominent Market Entities
Some of the most active players in the ink solvents market include BASF SE (Germany), Eastman Chemical Company (U.S.), Royal Dutch Shell (Netherlands), Ashland Inc. (U.S.), Celanese Corporation (U.S.), Vertec Biosolvents Inc. (U.S.), Evonik Industries AG (Germany), Ineos AG (Switzerland), Omnova Solutions (U.S.), Dow Chemical Company (U.S.), Solvay AG (Belgium), and Arkema S.A. (France).
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