Solvent-Based Printing Inks Global Market Report 2023
NEW YORK, Feb. 20, 2023 /PRNewswire/ — Major players in the solvent-based printing inks market are Tokyo Printing Ink Mfg.Co. Ltd, Dainichiseika Color & Chemicals Mfg.Co. Ltd, Sun Chemical Corporation, Flint Group, Toyo Ink SC Holdings Co. Ltd., Lawter Inc, Yansefu Inks, Coatings Pvt. Ltd, Siegwerk Druckfarben AG & Co. KGaA, and Sakata INX Corporation.
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The global solvent-based printing inks market will grow from $9.31 billion in 2022 to $9.54 billion in 2023 at a compound annual growth rate (CAGR) of 2.5%. The Russia–Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The solvent-based printing inks market is expected to grow from $10.66 billion in 2027 at a CAGR of 2.8%.
The solvent-based inks market consists of the sales of hard solvent inks, and eco-solvent inks.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Solvent-based inks are pigment inks that are mixed with volatile organic compounds (VOCs) such as hydrocarbons, alcohols, ketones, esters, and others that are waterproof and ultra-violet (UV) safe. They are relatively inexpensive and enable printing on flexible, uncoated vinyl substrates, which are used to produce vehicle graphics, billboards, 3D printed objects, banners, and adhesive decals.
Western Europe was the largest region in the solvent-based printing inks market in 2022.Asia Pacific was the second-largest region in the solvent-based printing inks market.
The regions covered in the solvent-based printing ink market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of solvent-based printing inks are cellulose inks, epoxy inks, vinyl inks, vinyl-acrylic inks, and polyurethane inks.Epoxy inks are thermosetting resins capable of forming tight cross-linked polymer structures characterized by The printing technologies are lithographic, gravure, flexographic, screen-printing, letterpress, digital, and other printing technologies.
The applications involved are labels and packaging, commercial printing, publication, and other applications.
3D technology will be a driver of the solvent-based printing ink market during the forecast period. With a rise in worldwide interest in 3D printing technology from consumers, researchers, and industrial production, there is expected to be a high demand for 3D printing inks such as solvent-based inks. Unlike 2D inks, which are intended for the fabrication of planar surfaces, 3D inks are intended for the fabrication of volumetric constructs and devices. For instance, researchers at Dartmouth College developed a smart ink that turns 3D-printed structures into objects that can change shape and color. The ink aims to add even more functionality to 3D printing. Similarly, scientists at the Georgia Institute of Technology, Atlanta, developed a novel ink that, when combined with a new method of printing and with varying lighting, hardens the 3D printed object.
A shortage of raw materials, resulting in their increasing market prices, is expected to negatively affect the solvent-based printing ink market.Printing ink companies globally are suffering from a shortage of raw materials, including resins, monomers, photoinitiators, oligomers, and additives.
This is mainly due to raw material plant closures in China, a major source of these raw materials, as the country has placed significant emphasis on improving its environment by cutting industrial pollution.Due to the presence of strong refinery capacity and an associated chemical manufacturing ecosystem, China is dominant in the supply of printing inks.
Market players have already started facing challenges due to shortages of raw materials.For instance, in July 2020, Sun Chemical, a global printing ink manufacturer, increased the prices of its solvent-based inks and coatings in North America due to an increase in the price of raw materials.
Due to the high demand for alcohol and solvents for use in sanitizers and pharmaceutical initiatives, the prices of these materials have increased substantially and have also affected the manufacturing costs of solvent-based printing ink companies. Therefore, such instances are expected to restrain the market growth of solvent-based printing inks during the period.
Solvent-based printing ink companies are introducing thermal inkjet inks to cater to the growing demand.Thermal inkjet printing induces the ejection of the ink droplet by superheating a small portion of solvent-based ink.
Advantages of thermal inkjet printing include better performance, lower costs, and ink versatility, especially in photo printing applications.For instance, Collins Inkjet has developed a new solvent-based TIJ ink, Stratus.
It has increased dot control, decap time, and optical density.
The countries covered in the solvent-based printing inks market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The solvent-based printing inks market research report is one of a series of new reports that provides solvent-based printing inks market statistics, including solvent-based printing inks industry global market size, regional shares, competitors with a solvent-based printing inks market share, detailed solvent-based printing inks market segments, market trends and opportunities, and any further data you may need to thrive in the solvent-based printing inks industry. This solvent-based printing inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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