Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Ink Solvents Market (By Solvent Type: Alcohols, Ketones, Hydrocarbons, Others (including Ethers and Esters); By Type: Conventional, Bio-based; By Process: Flexography, Gravure, Others (including Screen and Digital) ) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, March 25, 2019 (GLOBE NEWSWIRE) -- The global ink solvents market size is projected to exceed around USD 658.3Million by 2026, and this market is anticipated to grow with 4.9% CAGR during the forecast time period. The rapid increase in the usage of sustainable inks is expected to drive the growth of the global ink solvents market.
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Ink solvents are most widely used for, industrial, commercial and household printing purposes. The most commonly used solvents for the production of inks are ethyl acetate, n-propyl acetate, methylated spirits, and isopropanol. The ink solvents are well-known for its economical nature, high efficiency, quick evaporation rate, and non-coating properties. Therefore, these are the significant factors that are promoting the global ink solvents market positively. The ink solvent is used in various printing machines due to its high production rate and fast drying properties. Due to these factors, the ink solvents are used for various applications in end-use industries such as packaging, publication, and others.
The global ink solvents market is considerably penetrating in the printing ink applications. The features of the end-use products vary as per the necessity of end-user industries and for diverse applications. The Asia-Pacific region is the fastest growing region of the global ink solvent market and is mainly attributed to the high economic growth rate followed by growing demand for online shopping and packed foods that are ultimately driving the growth in the printing inks industry. The Asia-Pacific region is projected to grow at a high CAGR during the forecast period.
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Initially, alcohol was generally used in the printing machines to decrease the surface tension, and impart corrosion resistance to the printing machines. Additionally, the high cost of ink solvents, contaminated features, low control of conductivity, and other features are expected to hamper the ink solvents market growth during the forecast period. It is anticipated that the bio-based segment will grow significantly due to its amazing features such as recyclability, higher boiling point, and low miscibility. Due to these factors, the ink solvent manufacturers have shifted their focus from conventional solvent to the environment-friendly solvents in the end-user industries such as construction, paints & coatings, and others. The packaging segment in the global ink solvent market is expected to hold a major share of the market owing to the rising consumption of ink solvent for various application in end-use industries. This segment is projected to witness a significant growth rate in the ink solvents market due to the benefits offered by flexible packagings such as superior performance, long life, and lightweight nature.
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The global ink solvents market is segmented into solvent type, by type, by process and region. On the basis of solvent type, the global ink solvents market is segmented into Alcohol, ketones, hydrocarbons, and others which include ethers & esters. On the basis of type, the global ink solvents market is segmented into conventional and bio-based. On the basis of process, the global ink solvents market is segmented into Flexography, Gravure, and others which include screen and digital. On the basis of the region, the global ink solvents market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
The North America region is expected to dominate the global ink solvents market followed by Europe region. The market in the North America region is growing significantly owing to the increase in mergers & acquisitions among established players for ink solvents product offerings. Also, the rising investments in the end-user industries are expected to drive the ink solvents market during the forecast period. The rising consumption of ink solvents in the printing sector has boosted the developed countries as they provide exceptional flexibility, steadiness, and low maintenance.
The major players associated with the global ink solvents market are Exxon Mobil Corporation, LyondellBasell Industries Holdings B.V., Royal Dutch Shell plc, Celanese Corporation, DowDuPont Inc., VertecBiosolvents, Eastman Chemical Company, Yip’s Chemical Holdings Limited, INEOS AG, and Sasol Limited Group, etc. The research and development initiatives by manufacturers of ink solvents are the key part of the global ink solvents market. The manufacturing companies and end-product manufacturers invest heavily for future developments and technology adaptations of ink solvents and fulfil the consumer demands for various types of applications of ink solvents.
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