Chicago, May 02, 2024 (GLOBE NEWSWIRE) -- The Global Ink Additives Market size 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, as per the recent study by MarketsandMarkets™. The expansion is credited to the growing array of applications, advancements in ink technology, and heightened demand from the packaging sector in the Asia-Pacific region, notably led by China, India, Vietnam, and Indonesia.
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Browse in-depth TOC on "Ink Additives Market”
383- Market Data Tables
57- Figures
309- Pages
List of Key Players in Ink Additives Market:
- Atlanta AG (Germany)
- BASF SE (Germany)
- Dow Corning (US)
- Elementis Plc (US)
- Evonik Industries (US)
- Harima Chemicals Group (US)
- Others
Drivers, Restraints, Opportunities and Challenges in Ink Additives Market:
- Drivers: Increased demand from flexible packaging
- Restraints: Compliance to regulatory standards
- Opportunity: Rising demand in Asia Pacific, especially in India and China
- Challenge: Volatile raw material prices
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Key Findings of the Study:
- The major driver for the ink additives market is increased demand for flexible packaging.
- The dispersing & wetting agents type segment is expected to hold the largest share of the ink additives market during the forecasted period.
- Solvent-based technology segment holds the largest segment in overall ink additives market during forecast period.
- The lithographic process segment holds the largest segment in the overall ink additives market during the forecast period.
- The packaging application segment accounted for the largest share of the global ink additives market during the forecasted period.
- The Asia Pacific region is likely to account for the largest share of the global ink additives market during the forecasted period.
The dispersing & wetting agents type accounted for the largest share of the overall ink additives market, in terms of value, in 2023. They are employed in larger quantities in most ink formulations compared to other types of ink additives. Additionally, they find application across a wide range of ink types, further fueling their heightened demand.
Solvent-based technology accounted for a largest share of the overall ink additives market, in terms of volume, in 2023. The ink additives market is predominantly driven by solvent-based technology, attributed to its economical nature and user-friendly characteristics. This technology finds widespread application across the ink industry, favored by manufacturers for its cost-effective processing. Solvents utilized in printing processes evaporate readily, minimizing migration risks. Consequently, solvent-based technology continues to assert its dominance globally, particularly in regions such as China, India, Brazil, and Southeast Asian countries.
The lithographic process segment is estimated to account for a largest share in 2023 in terms of volume. The lithographic/offset printing method remains the primary choice in the printing ink industry, although its growth rate has decelerated compared to other methods due to the shift towards functional and sensory packaging. The digital process is anticipated to experience the most rapid expansion during the forecast period. This growth is driven by the increasing adoption of digital printing, which eliminates the need for film plates or photo chemicals, streamlining the process from the digital document file to the final print. Digital printing also eliminates the production and disposal of printing plates, saving both time and cost. Additionally, the trend towards smaller print runs and the demand for personalized content within tight timelines are key factors fueling the demand for digital printing.
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The packaging application segment dominated the overall ink additives market, in terms of volume, in 2023. Packaging emerges as the largest and swiftest-growing application realm for ink additives. The heightened demand for ink additives in flexible packaging, corrugated cardboard, and folding cartons is poised to propel this segment's market forward. This surge is anticipated to be fueled by the increasing requirements for inks in food packaging (including seafood), cigarette packaging, beverages, bags, pouches, Sand various lamination designs. Furthermore, the burgeoning demand for ink additives from the narrow web, label printing, and tag segments amplifies the momentum within the packaging sector market.
Asia Pacific is the leading market for ink additives market. The ink additives market in the region is anticipated to be driven by the packaging industry in emerging countries like India and Indonesia. These nations have experienced a steady increase in the consumption of packaged goods in recent years. This growth in packaging consumption is primarily motivated by the demand for secure packaging of food items and visually appealing product packaging.
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