Global Ink Solvent Market was valued $920 Million in 2017, and expected to reach $1.45 Billion by 2026, at CAGR of 5.91 % during forecast period. Ink Solvent is used on a large scale for commercial, industrial and household printing purpose. The most widely used solvents for manufacturing inks are methylated spirits, ethyl acetate, isopropanol, and n-propyl acetate. The current market for solvent-based inks is primarily driven by the higher demand from the packaging industry.
Solvents have some incredible characteristics like inexpensive nature, high efficiency, quick evaporation rate, and non-coating properties and these are the important factors which are promoting the market positively.
The rapid development in the packing industry is boosting demand for printed and attractive material which is boosting adoption of the solvent-based inks as the product offers better properties such as weather-resistance.
The latest trend in the market is the bio-degradable solvents. The use of eco-friendly inks and new printing technologies is on the rise as the packaging market continues to drive for sustainable products.
The major drivers for this market is the growing demand for printing inks from the packaging industry. Ink solvent is one of the main raw materials used for the production of printing inks.
The growing demand for ink solvent in various applications such as packaging, publishing, and business communication is expected to drive the demand for ink solvent.
The raw materials used for manufacturing ink solvent are supplied by the oil and gas company.
The fluctuations in the crude oil prices effect on raw materials prices, such as aromatic, ketones, esters, and alcohols, used for manufacturing ink solvent.
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Geographically, Ink solvent market is segmented into Asia Pacific, North America, Europe, South America, and the Middle East and 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. Countries such as China, Japan, and India are the major players in this market.
The increasing demand for packet food from the packaging sector and growing research and development activities in end-use industries has propelled the region to witness a higher growth over the assessment period.
The North America region is growing significantly in the market due to increasing mergers and 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 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.
Key companies profiled in Global Ink Solvents Market Report are Eastman, Dow, BASF, Ashland, Shell, Mitsubishi Shoji Chem, Solvay, Evonik, Celanese, Ineos, Exxon Mobil, Vertec Biosolvent, Lotte Chem, Lyondellbasell, Lg Chem, Arkema, Showa Denko, Yipâ€™s Chem, Yankuang Lunan Chem, Baichuan Chem, Super Chemical, Sanmu Chem, Jinyimeng Group, Jianye Chem, Zhongchuang Chem, Cnpc, Lianhai Bio-Tech, Sopo Group, Jidong Solvent, and Huayi Group.
The report covers a comprehensive review of major market drivers, restraints, opportunities, challenges, key issues, PESTLE analysis, Porters analysis, SWOT analysis, and technology forecasting in the market.