ALBANY, New York, September 6, 2016 /PRNewswire/ --
Transparency Market Research has released a new market report entitled "Solvent-based Inks Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast - 2016-2024." According to this report, the global solvent-based inks market was valued at US$ 5.42 Bn in 2015 and is projected to reach US$ 7.92 Bn by 2024, at a CAGR of 4.4% from 2016 to 2024. In terms of volume the solvent-based inks market is expected to reach 1,759.5 Kilo tons by 2024, expanding at a CAGR of 2.9% between 2016 and 2024.
Solvent-based inks are relatively inexpensive and have the advantage of being able to produce good vivid colors. They are gaining high momentum in the global printing ink industry around the globe. These inks have been extensively used in the packaging sector, which is experiencing solid growth in many countries. Some of these inks are resistant to exposure to moisture, oxygen, and UV light. This type of ink helps reduce excess packaging requirement for perishables, as it provides protection from environmental exposure. However, the solvent-based inks industry is witnessing numerous challenges in several applications owing to rising demand for water-based ink. The demand for water-based and UV-based inks in several countries of North America and Europe has prominently increased in the recent past, which is negatively impacting the solvent-based industry in such regions.
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Solvent-based inks possess wide application in the packaging industry. In recent years, the GDP of the several developing countries have improved considerably. This has made a significant impact in their manufacturing sector which is considered to be the backbone of any economy. The development of the manufacturing sector has a positive impact on the packaging industry, which is considered to be the dominant user of the solvent-based inks. However, rising e-commerce and an expanding e-books industry are negatively impacting the demand for the solvent-based inks industry especially in the developed regions across the globe.
The global market for the solvent-based inks has been segmented into product type, printing type and application type. The product segment comprises of vinyl inks, vinyl-acrylic inks, epoxy inks, polyurethanic inks and cellulose inks. Vinyl inks are considered to be one of the most widely used solvent-based inks across the globe. This is primarily due to their fast drying properties and the ease of adaptation to various substrates. However, cellulose inks due to their compliance with the several environmental regulations and bio-based solvents are gaining more momentum during the forecast period. It has been estimated that during the forecast period the global revenue of the cellulose solvent-based inks market would be expected to rise at CAGR 4.8%.
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In terms of printing process segments, the lithographic and flexographic printing processes hold the major market share during the forecast period. In the year 2016, the total market of the lithographic and flexographic printing processes added together was around 65%. Gravure printing process demand has witnessed a moderate growth in 2015. It is mainly due to the cannibalization of gravure ink by flexographic and digital printing inks process.
In terms of application the solvent-based inks has been widely used by the packaging segment. In the year 2016 total market of the packaging solvent inks was estimated at 36.40%. In the publication segment which includes newspaper, magazines, books & catalog among others, the solvent-based inks' demand has witnessed a moderate growth in 2015. It is mainly due to rise in the online advertising and publishing industry, which is hampering the demand for the solvent-based inks in this segment.
Major players of the solvent-based inks industry comprises 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 and Coatings Pvt. Ltd., Siegwerk Druckfarben AG & Co. KGaA, Sakata INX Corporation, Huber Group, Zeller+Gmelin GmbH & Co. KG, ALTANA AG, Wikoff Color Corporation, SICPA Holding SA, Fujifilm Sericol India Private Limited, Royal Dutch Printing Ink Factories Van Son, and T&K Toka Co., Ltd.
Solvent-based Inks Market: By Product Type
- Vinyl Inks
- Vinyl-Acrylic Inks
- Epoxy Inks
- Polyurethanic Inks
- Cellulose Inks
Solvent-based Inks Market: By Printing Type
Solvent-based Inks Market: By Application
- Books & catalog
- Tags & Labels
- Office Stationery
Solvent-based Inks Market: By Region
- Rest of Europe
- Rest of Asia Pacific
Middle East & Africa
- South Africa
- Rest of Middle East and Africa
- Rest of Latin America
Browse Other Research Reports:
- Gravure Printing Inks Market: http://www.transparencymarketresearch.com/gravure-printing-ink-market.html
- Global Printing Inks Market: http://www.transparencymarketresearch.com/printing-inks-market.html
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