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Global Ink Additives Market - Overview
Chemical elements used to upgrade ink during preparation are termed as ink additives. Ink additives properties such as high stability, water resistance, and cost-effectiveness solution make it a preferred solution in printing industry. According to MRFR analysis, the ink additive market was valued at USD 1.37 billion in 2017 and is expected to reach USD 2.06 billion by the end of 2030 with a CAGR of 5.7% during the forecast period, 2022-2030.
In addition, increasing demand for biodegradable and renewable products, combined with increased online sales that stimulate demand for corrugated boxes, will drive the market over the forecast period. The packaging industry is expected to drive the market over the forecast period due to factors such as increased online sales, the growing popularity of flexible home packaging, convenient and easy to handle. The ink additive market is poised to attain peak growth due to surging demand for flexo printing inks in the corrugated packaging, flexible packaging, folding boxes, labels, labels, and metal box packaging industry. The increasing use of graphic design is one of the most important factors for market growth. Companies use attractive packaging to distinguish their products in today's competitive environment, creating an additional need for ink additives in the marketplace. The ink additive market will continue to grow due to demand in the packaging and commercial printing sectors. The thorough shift from print to digital media can form a barrier to the market. However, ink additive manufacturers produce environmentally friendly ink additives, which offer an opportunity for market acceptance.
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Global Ink Additives Market – Prominent Players
ALTANA,BASF,Croda International Plc,Elementis plc,Evonik Industries AG,Huntsman International LLC,PolyOne,Solvay,The Dow Chemical Company.
Ink Additives Market Dynamic:
Ink additives are chemical ingredients used during the formulation process that enhance the performance of ink. With their superior properties, such as high stability, adhesion on printing materials, and water resistance, ink additives make the ink production process cost-effective. As a result, these substrates are extensively used in the production of ink used for the packaging, publishing, commercial printing, and other purposes. Rising demand for label printing from the packaged F&B sector drives the ink additives market.
Massive consumption of these materials driven by the growth in some of the burgeoning end-use industries, such as printing and packaging, hugely drives the growth of the ink additives market. The increase in the labeling industry driven by the packaged food industry fosters the market growth further. Moreover, recent developments of store-based/non-store-based distribution channels further accelerate the growth of the market on a global level. Therefore, vast improvements are seen in the ink formation in terms of product quality, which, in turn, pushes the market demand. Also, the growing e-commerce industry supports market growth, primarily. On the other hand, rising concerns over toxicity in ink act as a key growth impeding factor. Nevertheless, the emergence of green chemicals would support market growth, offering an option of development of environmentally friendly ink additives, and mitigating future challenges.
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Ink Additives Market - Segments:
The factors based on which the globalI Ink Additives Industry is segmented into type, process, technology, and application.
The type segment of the global ink additives market is bifurcated into rheology modifiers, slip/rub materials, dispersing & wetting agents, and foam control additives. Rheology modifiers subsegment is attributed as a major demand driver in the ink production owing to its easy ink distribution on the printing substrate. The slip / friction subsegment is expected to dominate the market due to its increasing use as a varnish to improve texture, hydrophobicity, anti-blocking, and abrasion resistance.
Based on the process, the global market is classified as lithographic, digital, gravure, and flexographic. Lithographic subsegment owing to its smooth printing offering lead in terms of market share.
The global ink additives market is also bifurcated based on technology into water-based and solvent-based. Solvent-based technology is mostly preferred owing to its high volatility and cost-effectiveness, and it is also a leading subsegment is some regions.
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Ink Additives Market - Regional Analysis:
The Asia Pacific is projected to retain its dominance over the global ink additives market, registering a fabulous CAGR throughout the forecast period. The burgeoning packaging industry in the region drives a large share of the market, creating a huge demand for ink additives. Besides, the continually rising consumption in the production of packaging films drives vast market demand. Moreover, the spurting industrialization in the region is driving the demand and use of ink additives across the printing & packaging sector.
The region has been attracting foreign investors with its raw material advantage and cost-competitive laborforce, which, as a result, fosters the size of the APAC ink additives market, increasing the numbers of production units. Japan, South Korea, China, and India account for significant growth contributing countries due to their surging economy.
On the other hand, the ink additives market in North America and Europe are growing rapidly due to the presence of many noteworthy ink producers. Stringent food packaging regulations are a key driving force behind the growth of the markets in these regions. Hence, Ink manufacturers in these regions are highly focused on providing advanced and low VOC emitting inks.
Also, the presence of well-developed packaged food industries accounts for the key growth contributor, leading the demand for labeling and attractive packaging. Major producer and consumer countries of ink additives are the US, Germany, France, and Italy.
Industry/ Innovation /Related News:
November 27, 2019 ---- CHT Group (Germany), a leading global provider of chemical products for industrial additives, announced the acquisition of Keim-Additec-Surface GmbH (Germany), a global leader in the chemical manufacturing company. Keimadditec Surface is engaged in the development & production of environmentally friendly water-based wax additives for the use in printing inks. The acquisition expands CHT’s current business with additives for industrial applications, significantly, positioning it as a leading supplier of wax additives in the paints and coatings industry worldwide.
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