PUBLISHER: The Business Research Company | PRODUCT CODE: 1484872
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484872
Solvent-based inks utilize organic solvents as a carrier fluid for pigment or dye particles in printing formulations. They are employed in flexography, gravure, screen printing, and some inkjet printing processes to produce high-quality, durable, and quick-drying prints on substrates such as paper, plastic, metal, and fabric.
Key products within solvent-based inks include vinyl inks, vinyl-acrylic inks, epoxy inks, polyurethanic inks, and cellulose inks. Vinyl inks, for example, incorporate vinyl resins to impart flexibility and durability to printed materials. These inks are compatible with various printing technologies such as lithographic, gravure, flexographic, screen printing, letterpress, and digital printing, catering to applications in label and packaging, commercial printing, publication, and more.
The solvent-based inks market research report is one of a series of new reports from The Business Research Company that provides solvent-based inks market statistics, including solvent-based inks industry global market size, regional shares, competitors with a solvent-based inks market share, detailed solvent-based inks market segments, market trends and opportunities, and any further data you may need to thrive in the solvent-based inks industry. This solvent-based inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The solvent-based inks market size has grown strongly in recent years. It will grow from $8.47 billion in 2023 to $8.90 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth observed during the historic period can be attributed to several factors, including the expansion of the digital printing industry, growth in the lamination sector, the rise of the transportation industry, and increasing investment in the utilization of solvent-based inks.
The solvent-based inks market size is expected to see strong growth in the next few years. It will grow to $10.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The forecasted growth is driven by the utilization of packaged materials in food and consumer packaging applications, along with the growing popularity of bio-based solvents. Additionally, there is an increase in personalized advertising spending, particularly in outdoor advertising and packaging offers, which further contributes to growth. Furthermore, there is a rising demand for printed materials overall. Key trends expected in the forecast period include the need for high-quality prints and a shift towards customizable options with durable coatings. There is also a focus on ongoing research and development, integrated solutions, and rapid advancements in ink technology to meet evolving market demands.
The upward trajectory of printed advertising spending is anticipated to drive significant growth in the solvent-based inks market in the foreseeable future. Printed advertising spending encompasses the investment made in advertising across national and local newspapers, magazines, and business publications. The resurgence in print advertising spending can be attributed to its ability to enable advertisers to precisely target specific demographics and niche audiences, fostering brand awareness and recognition through consistent exposure over time. Solvent-based inks play a pivotal role in this scenario, offering robust resistance to fading and deterioration, thereby ensuring the longevity of print advertisements' visual impact and readability. Additionally, their compatibility with high-speed printing equipment enables advertisers to efficiently and cost-effectively produce large volumes of printed materials. For instance, an article shared by the International News Media Association in April 2022 highlighted a 4.8% global growth in advertising expenditure in print newspapers, with notable revenue increases observed in India and Germany, further underscoring the pivotal role of printed advertising spending in driving the solvent-based inks market.
Leading companies in the solvent-based inks market are actively pursuing innovation to gain a competitive edge, with a focus on introducing advanced products such as ONECode solvent-based inks and coatings. Designed to streamline the flexible packaging printing process, reduce process waste, and enhance the ease of conducting business for European flexible packaging converters, ONECode solvent-based inks and coatings represent a significant advancement in the industry. For example, Flint Group, a printing company headquartered in Luxembourg, launched the ONECode portfolio in July 2021, which includes overprint varnishes, primers, and additives, offering consistent high-quality results and optimized customer support.
In April 2022, Siegwerk Druckfarben AG & Co. KGaA, a German manufacturer of printing inks and individual solutions, acquired La Sorgente Spa. This acquisition not only expands Siegwerk's footprint in Italy but also enhances its infrastructure and workforce in the region. Through this acquisition, Siegwerk gains access to La Sorgente Spa's technical expertise, product portfolio, and manufacturing equipment, strengthening its position in the solvent-based ink market. La Sorgente Spa, an Italy-based manufacturer of solvent-based inks for paper, board, and flexible packaging applications, will continue to operate as a separate entity, retaining its brand and product names.
Major companies operating in the solvent-based inks market are BASF SE, Honeywell International Inc., Mitsubishi Chemical Holdings Corp., 3M Company, Henkel AG & Co. KGaA, Covestro AG, DuPont de Nemours Inc., Arkema SA, Avery Dennison Corporation, Sun Chemical Corporation, Huntsman Corporation, Clariant AG, H.B. Fuller, Altana AG, Flint Group, Ashland Inc., Sakata INX Corporation, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink SC Holdings Co. Ltd., Dainichiseika Color and Chemicals Mfg. Co. Ltd., Huber Group Holding SE, SICPA Holding SA, Zeller+Gmelin GmbH & Co. KG, Tokyo Printing Ink Mfg. Co. Ltd., Wikoff Color Corporation, Lawter Inc., Heubach GmbH, FUJIFILM Europe GmbH, Eptanova S.R.L.
Asia-Pacific was the largest region in the solvent-based inks market in 2023. It is expected to be the fastest growing region in the market. The regions covered in the solvent-based inks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the solvent-based inks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The solvent-based inks market includes revenues earned by entities by providing services such as color reproduction, color matching and customization, and strong adhesion. The market value includes the value of related goods sold by the service provider or included within the service offering. The solvent-based inks market also includes sales of alcohol-based inks, ester-based inks, ketone-based inks and toluene-based 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.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Solvent-Based Inks Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on solvent-based inks market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for solvent-based inks ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The solvent-based inks market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.