CHICAGO, Feb. 14, 2019 /PRNewswire/ --
According to the new research report "Ink Additives Market by Type ( Dispersing & Wetting Agents, Foam Control Additives, Slip/Rub Materials, Rheology Modifiers), Process, Technology, Application (Packaging, Publishing, Printing), and Region - Global Forecast to 2023", published by MarketsandMarkets, the global Ink Additives Market is projected to reach USD 2.0 billion by 2023, at a CAGR of 5.2% between 2018 and 2023. This growth is attributed to the growing demand for sustainable, low-cost, and safe additives which have led to the development of new additives and chemistries. Additives that offer excellent performance characteristics at reduced cost and have a lower impact on the environment are in the best position to capture the market. China, India, and other Southeast Asian countries promise increasing demand for ink additives owing to increased demand from major applications.
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Dispersing & wetting agents was the largest type segment of the Ink Additives Market.
The increasing demand from applications, such as graphics art, publishing, inkjet, and UV inks, particularly in Asia Pacific, is driving the demand for dispersing & wetting agents. Dispersing & wetting agents are used in higher dosages in almost all types of inks, which leads to its high demand.
The Ink Additives Market in the packaging application to register the highest growth rate during the forecast period.
Ink additives are mostly used in printing inks that are used in the packaging application. Consumer awareness on health and wellness, the influence of environmental issues & recycling, and rising disposable income & consumer purchasing power are the three major factors driving the demand for packaging. Other factors such as branding, smaller package size, convenience, and urbanization further boost the demand for packaging. Flexible plastic packaging dominates the overall packaging industry. The growing middle-class population across Asia Pacific is expected to benefit the overall industry.
Asia Pacific is the largest consumer of ink additives
Asia Pacific is the largest Ink Additives Market, in terms of value, followed by Europe and North America. Easy availability of raw materials and low-cost labor coupled with significant domestic demand make Asia Pacific one of the most attractive markets for the industry participants.
The key players profiled in the report include ALTANA AG (US), BASF SE (Germany), Evonik Industries (Germany), Elementis PLC (UK), Dow Corning (US), Shamrock Technologies (US), Munzing Chemie GmbH (Germany), Solvay S.A. (Belgium), Harima Chemicals Group (Japan), and Lubrizol (US)
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