Newark, NJ,, Jan. 29, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global ink additives market is expected to grow from USD 1,348.23 Million in 2017 to USD 2,104.59 Million by 2025 at a CAGR of 5.72% during the forecast period 2018-2025.
Increased demand for corrugated boxes, growing demand for the flexible packaging materials and development of multipurpose additives are the factors fuelling the ink additives market. Unique benefits of flexible packaging such as clear high graphic capability, barrier films, lightweight, and easy sealability make it a very popular packaging option among end-use industries such as retail, consumer products, food & beverages, pharmaceuticals, and others. Pouches made from flexible packaging or re-usability of the containers is expected to achieve sustainability and help in reducing the waste.
Additives play a critical role in the formulation and production of inks. They are of immense help in imparting the necessary characteristics that the ink needs, such as to run more smoothly on press or to protect the finished product. Additives improve the performance, color, appearance, finish, printability, and adhesion of ink. The type of additive used is reliant on the desired end result. Thus worldwide increase in printing of newspapers and periodicals, packaging and stationery are the factors that are anticipated to propel the global ink additives market to the higher trajectory.
Factors such as growing demand for the packaging, stationery and development of newer multipurpose additives are driving the global ink additives market, whereas volatility in raw material prices and increasing shift to digital media are anticipated to prove the major restraining factors for the market growth.
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The major players in global Ink Additives Market include LTANA AG, BASF SE, Evonik Industries, Elementis PLC, Dow Corning, Shamrock Technologies, Munzing Chemie GmbH, Solvay S.A., Harima Chemicals Group, Lubrizol, Croda International Plc, Huntsman International LLC, PolyOne, Sakata INX, K Tech (India) Ltd and Clariant among others.
- To satisfy the burgeoning demand for the ink additives from the Asia Pacific market, firms are increasingly focusing on the expanding their production capacities. For instance Clariant in 2018, announced the opening of their new additives production facilities in China.
- To satisfy the ever increasing demand for the durable inks, firms are increasingly emphasizing on developing the newer additives. For instance Evonic Industries in 2016, launched TEGO Rad 2800. It is radiation-curing glide and release ink additive with strong hydrophobing properties and optimum system compatibility.
- For Instance in January 2017, Evonik Industries announced the acquisition of the performance materials division of Air Products (US). The performance materials division included products such as curing agents and additives which are used in industries such as marine, automotive, and construction. This acquisition would strengthen the Evonik’s ink additives business segment and would also secure the leading position in North America market.
Dispersing and wetting segment had market value of USD 388.69 million in 2017
Type is segmented into rheology modifiers, dispersing & wetting agents, foam control additives, slip/rub materials and others. Properties of wetting and dispersing agents for stabilizing the suspension of pigments in varnish and achieving excellent print quality led dispersing and wetting agents segment to emerge as the largest with USD 388.69 million 2017. Dispersing & wetting agents are utilized in almost all types of ink formulations.
Flexographic segment is anticipated to grow at a CAGR of 7.88% in 2017-2025
Process is divided into lithographic, gravure, flexographic, digital and others. Owing to its widespread use in the printing of books, advertising, catalogs, cards, posters, direct mail inserts, packaging and coupons, lithographic process emerged as the dominating segment with USD 406.76 million revenue in 2017. Growing utilization of flexography in the packaging of processed food and beverages is anticipated to propel the flexography segment to grow at a CAGR of 7.88% over the forecast period.
Water based segment is projected to grow at a CAGR of 8.04% in 2017-2025
Technology segment is categorized into solvent based, water based and others. Solvent based segment led the global ink additives market with USD 854.37 million revenue in 2017. This increased market share can be attributed to their properties for being low cost and exhibiting minimum migration of the ink on the substrate.
Packaging segment had a market value of USD 588.09 million in 2017
Application is segmented into packaging, publishing and commercial printing. Increasing demand for consumer durables, processed food and growth of ecommerce sector is generating a tremendous demand for the packaging materials. Based on this Packaging segment led the global ink additives market with USD 588.09 million revenue in 2017.
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Regional Segment Analysis of the Ink Additives Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region emerged as the largest market for the ink additives with a 37.58% share of revenue in 2017, followed by Europe. Rising per capita disposable income as well as improved standards of living are the factors responsible for generating the huge demand for packaging materials from consumer durables, processed food, and beverages sectors. Thus Asia Pacific region is anticipated to grow at the highest CAGR of 7.64% over the forecast period. Europe region also accounted for a considerable market share in 2017, owing to its well-developed food processing and packaging industry.
About the report:
The global Ink Additives Market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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