Ink Solvents Market to Record an Exponential CAGR by 2024

The global market for ink solvents is estimated to experience a moderate growth in the forthcoming years. Ink solvents are among the primary raw materials used for preparing a colloidal suspension of pigments or dyes. Based on raw materials used, they are basically of two types, namely petroleum-based or organic-based and bio-based. While the reliance on organic-based solvents is higher currently, the demand for bio-based solvents is expected to witness an exponential rise owing to the rising environmental concerns. Some of the applications of ink solvents are packaging, cardboard printing, and paper printing.

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The research report on the global ink solvents market takes into account all the important parameters, including competitive scenario, geographical segmentation, product analysis, and the key trends impacting the growth trajectory of the market in the near future. It sheds light on the information regarding exports and imports, price dynamics, and turnover of the market and its affiliated industries at both global and regional levels. The key participants in the global market are profiled along with their latest developments, revenue and cost structures, business strategies, and market shares. The report includes a separate section of recommendations by industrial experts for both existing and emerging players in the market.

With the booming e-commerce and food and beverages sector, the packaging industry is anticipated to rake in a large share of the revenue pie. The increasing demand for packaged food and an expanding base of consumers preferring online shopping to offline shopping are triggering the demand for packaging solutions. The surge in demand for packaging is accompanied by a boost in the demand for its paraphernalia. Since printing inks are increasingly becoming part and parcel of the industry, the global ink solvents market is poised to tread along a healthy growth track in the coming years. On the flip side, the shift from print media towards digital media is adversely affecting the growth of the global market.

On the other hand, developing regions are anticipated to offer fertile ground for the growth of the market. Asia Pacific is likely to register a noteworthy CAGR during the review period, with countries such as India, Japan, and India being the major contributors. The robust growth of the packaging and printing industries is supplementing the growth of the region. Moreover, the surging popularity of packaged foods and online shopping is fuelling the growth of APAC. In Latin America, Brazil is poised to be a sight of high growth rate owing to the abundant availability of raw materials.

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A raft of players in the global ink solvents market are investing sizeable sums in research and development activities for future advancements and to improve the scope of applications. Mergers and acquisitions will also be a prominent growth strategy for the majority of players to consolidate their presence in the market. Some of the key companies operating in the market are Eastman Chemical Company, Ineos AG, Evonik Industries AG, Shell Chemicals, Ashland Inc. ExxonMobil Chemical, Vertec Biosolvents Inc., Arkema S.A., Sasol Solvents, and Celanese Corporation.

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