CHICAGO, March 19, 2024 /PRNewswire/ -- The report "Ink Additives Market by Type (Rheology Modifiers, Dispersing & Wetting agents, Foam Control Additives), Technology (Solvent-based, Water-based), Process (Lithographic, Gravure), Application (Packaging, Publishing), & Region - Global Forecast to 2029", was USD 2.3 billion in 2024 and is projected to reach USD 2.9 billion by 2029, at a CAGR of 5.3% between 2024 and 2029. The growth is attributed to the increasing applications, technological advancements in the ink industry, and rising demand from the packaging industry in Asia Pacific, mainly from China, Vietnam, Indonesia, and India.
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383 - Tables
57 - Figures
309 - Pages
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The major driver for the ink additives market is increased demand from flexible packaging.
The global flexible packaging sector has witnessed significant growth due to various factors, which consequently impacts the demand for ink additives. Flexible packaging typically involves a range of materials such as plastic films, foils, and laminates. Ink additives play a vital role in enhancing ink compatibility with these diverse substrates, ensuring proper adhesion and print quality. The necessity for specialized additives that harmonize well with flexible materials drives the demand for innovative ink solutions. Flexible packaging finds extensive use in the food, pharmaceutical, and consumer goods industries. Ink additives contribute to enhancing ink performance in terms of durability, resistance to abrasion, and the ability to withstand the flexible nature of the packaging material during handling, transport, and storage.
Branding and visual appeal are crucial in flexible packaging, where products often vie for consumer attention on store shelves. Ink additives are utilized to enrich color consistency and vibrancy, ensuring that the packaging maintains an attractive and uniform appearance. Flexible packaging production frequently involves high-speed printing processes. Ink additives facilitating quick drying become indispensable to maintain production efficiency and meet the demands of fast-paced manufacturing environments. Additionally, flexible packaging often requires specialized inks with barrier coatings to safeguard the contents from external factors like moisture, light, and gases. Ink additives are employed to enhance the functionality of these specialty inks, addressing specific requirements in the flexible packaging market.
The flexibility of ink formulations allows for customization based on the specific requirements of various applications within the flexible packaging sector, be it food packaging, pharmaceuticals, or industrial products. Ink additives can be tailored to meet the unique needs of each application. Ongoing advancements in ink additive technologies cater to the evolving needs of the flexible packaging industry. Innovations in adhesion promoters, drying accelerators, and other additive categories contribute to improved performance and efficiency in flexible packaging printing.
Dispersing & wetting agents type segment is expected to hold largest share of the ink additives market during the forecasted period.
Dispersing and wetting agents feature prominently in nearly all ink formulations, with similar functionalities. Wetting serves as the initial stage in the dispersion process, lowering the ink's surface tension. Conversely, dispersants play a role in eliminating flocculation. They are utilized in greater quantities within the majority of ink formulations compared to alternative ink additives. Furthermore, their widespread use across various ink types contributes to their increased demand.
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Solvent-based technology segment holds the largest segment in overall ink additives market during forecast period.
Solvent-based technology holds the leading position in the ink additives market due to its affordability and ease of application. Widely utilized in the ink industry, manufacturers prefer this technology for its cost-effective processing. The solvents used in printing evaporate quickly, reducing the risk of migration. As a result, solvent-based technology maintains its dominance globally, notably in economies such as China, India, Brazil, and Southeast Asian nations.
Lithographic process segment holds the largest segment in overall ink additives market during forecast period.
The lithographic/offset printing process stands as the dominant method in the printing ink industry. However, its growth rate has slowed compared to other processes due to the shift towards functional and sensory packaging. Over the forecast period, the digital process is expected to emerge as the fastest-growing method. This surge is attributed to the rising adoption of digital printing, which does away with the need for film plates or photo chemicals, streamlining the process from digital document files to final prints. Moreover, digital printing eliminates the production and disposal of printing plates, resulting in significant time and cost savings. Additionally, the trend towards smaller print runs and the demand for personalized content within tight deadlines are driving factors behind the increasing demand for digital printing.
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Packaging application segment accounted largest share of the global ink additives market during forecasted period.
Packaging stands as the most significant and rapidly expanding application area for ink additives. Anticipated to fuel this segment's market are the robust demands for ink additives in flexible packaging, corrugated cardboard, and folding cartons. This growth is primarily propelled by the increasing need for inks in various packaging sectors such as food (including seafood), beverages, cigarette packaging, pouches, bags, and lamination designs. Additionally, the rising demand for ink additives from narrow web, tag, and label printing segments further boosts the packaging segment market.
Asia Pacific region likely to account the largest share of the global ink additives market during forecasted period.
The ink additives market within the region is expected to be stimulated by the packaging industry in emerging countries such as India and Indonesia. Over the past few years, these nations have seen a consistent uptrend in the consumption of packaged goods. This surge in packaging consumption is chiefly propelled by the demand for secure packaging of food items and visually attractive product packaging.
Market Players
Some of the key players in the global ink additives market include Atlanta AG (Germany), BASF SE (Germany), Dow, Inc. (US), Elementis Plc (UK), Evonik Industries AG (Germany) and others. The companies are majorly following product develoment, investment & expansion, and innovation as the strategy to grow and expand the market.
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