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Ink solvents market set to expand globally

April 9, 2015

inkjetA new market report expects the solvents market to grow by five percent between 2014 and 2019.

The report, from market analyst Marketsandmarkets, predicts that the global ink solvents market will reach a volume of around 1,211.11 kilotons by 2019 – a five percent compound annual growth rate (CAGR) – reaching a value of $1.062 billion (€989 million) in five years. The study looks into the market in terms of chemistry, product type, process and application, and the analyst noted that the market “showed a moderate growth in the past few years”.

This growth is “estimated to continue in the coming years” thanks to an increase in demand for “flexible packaging, folding cartons, corrugated cardboard, promotion” and other applications. These sectors are the “key influencing factors” for growth, while the growth in online shopping is “increasing” in emerging markets. This in turn boosts the production of packaging labels, plastic bags and invoices, which “eventually drive the printing ink market”.

In regional terms, the Asia-Pacific is the “largest consumer of ink solvents” with 47.4 percent market share. The area is expected to see most growth, particularly in China, Japan and India. China has the largest share in the “regional volumetric consumption” of ink solvents, while the volume in the rest of the world is “comparatively low”. North America and Europe are “the most active markets” in strategic initiative terms, thanks to market demand and the growth in corrugated cardboard applications.

Marketsandmarkets added that the “steady rise of digital media” has shrunk the print media industry, with many companies shifting “at least half of their marketing spending” from print to digital. In turn, over 48 percent of total demand was for flexible packaging in 2013, followed by corrugated cardboards and folding cartons.

Properties of solvents will also prove key in the next few years, including solvency, good flow, stability, dilutability, gloss and good surface appearance, along with ink performance. The analyst also commented that a “moderate amount” of mergers and acquisitions will be made to “serve the applications in the future”, and listed the most important players in the global market.

These include: Arkema S.A.; Ashland Inc.’ BASF SE; Celanese Corporation; Dow Chemical Company; Eastman Chemical Company; Evonik Industries AG; Ineos AG; Omnova Solutions; Royal Dutch Shell; Solvay AG; and Vertec Biosolvents Inc. The Recycler recently reported on another prediction that the global printing inks market would grow to over $20 billion (€19 billion) by 2020, though a “spike” in raw material costs for printing ink is set to affect the market soon.

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