According to the latest market study released by Technavio, the global ink solvent market is expected to grow at a CAGR of more than 5% during the forecast period.
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Technavio has published a new report on the global ink solvent market from 2017-2021. (Graphic: Business Wire)
This research report titled 'Global Ink Solvent Market 2017-2021' provides an in-depth analysis of the market in terms of revenue and emerging market trends. This report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global ink solvent market into the following type of application. They are:
- Flexible packaging
- Corrugated cardboard and folding cartons
- Publication
- Others
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The top three revenue-generating segments are discussed below:
Global ink solvent market by flexible packaging
Flexible packaging encompasses container or packaging made of flexible or easily yielding materials that can readily change its shape when it is filled or closed. The flexible packaging is made of foil, plastic film, paper, or a combination of any of these. The lightweight property of these packaging solutions reduces transportation costs and makes it easily recyclable, thereby boosting their use by manufacturers and retailers. The growing demand for flexible packaging is expected to drive the demand for ink solvent. In 2016, the flexible packaging segment in the ink solvent market accounted for around 52% of the total market share.
According to Hitesh Bhatia, a lead analyst at Technavio for specialty chemicalsresearch, "The demand for flexible packaging is driven by the high demand for convenient packaging in the consumer goods industry. Flexible packaging can be easily customized to meet the varied demand specifications for a wide range of products. Flexible packaging is cost-effective, and light in weight and this contributes to their increased adoption. Such factors will have a positive impact on the growth of the global ink solvent market."
Global ink solvent market by corrugated cardboard and folding cartons
The corrugated cardboard and folding cartons in the ink solvent market occupied about 28% of the total market share. The ink solvent in this market segment is mainly used to dissolve pigments, and it aids in the proper flow of the ink. Corrugated cardboard is mainly designed to protect and promote the products. It offers tensile, tear, and burst strength to withstand high pressures during the logistics and transportation. The packaging offers resistance to drop and vibration damage and facilitates uniform stacking and weight distribution.
"The increasing demand for folding cartons in the developing countries will drive the global ink solvent market. The increase in the use of these packaging solutions is due to a higher consumption of products such as food and beverages, cosmetics, and pharmaceuticals. The growing demand for folding cartons for various applications is expected to propel the demand for ink solvent market over the next few years," says Hitesh.
Global ink solvent market by publication
In 2016, the publishing segment in the ink solvent market accounted for around 14% of the total market share. Ink additives in this market segment are used in the products such as newspapers, magazines, stationeries, books, and other print related commercial purposes, which include catalogs printing and office reprographics. Commercial printing is one of the major end-use applications of printing and writing papers. Some of the commercial printing products are bookmark printing, business cards, booklet printing, and booklet envelopes. Such varied applications will fuel the growth of this market segment.
The top vendors highlighted by Technavio's market research analysts in this report are:
- Arkema
- Ashland
- BASF
- Celanese
- The Dow Chemical Company
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