Ink Solvent Market – Overview
Ink Solvent possess high efficiency, rapid evaporation rate, and non-coating properties in numerous end use application such as packaging, corrugated, publication, and others. The market is estimated to witness moderate growth due to their usage in numerous end use industries specifically in paints & coatings, building & construction, and others. On the basis of the end use application segment, packaging is predicted to register strong growth followed by corrugated due to increasing consumer’s disposable income along with expanding packaging industry in developing countries across the globe. In addition, increasing construction and other food & beverage manufacturing base in emerging economies combined with increasing need for high quality Ink Solvent is estimated to propel the growth of the market over the assessment period.
Geographically, Asia Pacific accounted for the largest market share for ink solvent in 2016, followed by Europe which is further trailed by North America. The North American Ink Solvent Market is expected to witness moderate growth over the assessment period on account of substantial growth of food & beverage and packaging industry in this region. In North America, the market is further categorized into Canada and the U.S., among these the U.S. is anticipated to hold major regional market share of ink solvent on account of strong presence of key operating players in this region. Asia Pacific is estimated to witness tremendous growth over the forecast period in Ink Solvent Market during 2017 to 2023. The demand for ink solvent is estimated to raise in several countries of Asia Pacific such as Malaysia, Taiwan, India, China, South Korea, the Philippines, Japan, and Indonesia due to rising population along with shifting of manufacturing base for most of the matured market players in this region. In Europe, ink solvent market is projected to register average growth due to shifting consumer preference towards the ink solvent based products combined with high adoption rate in numerous end use industries specifically in UK, Germany, Poland, Italy, Spain, and Russia. In addition, various countries of the Middle East & Africa and Latin America are anticipated to witness significant growth in ink solvent on account of rising disposable income along with sales of Ink Solvent based product specifically in Argentina, Brazil, Venezuela, and Mexico along with increasing commercial, institutional, and residential construction activities specifically in Oman, Israel, Saudi Arabia, Kuwait, Turkey, Qatar, and the UAE.
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Industry/ Innovation/ Related News:
November 2017– Toyo Ink group announced to expand its production facilities in Turkey. The construction plant is expected to start in mid of 2018 and will cost around USD 26.7 Million. With this capacity expansion the company will meet the increasing demand in Central Asia, MENA, and Eastern Europe.
December 2017- Siegwerk announced to acquire Tupahue Tintas, a Brazilian ink manufacturer. Tupahue Tintas products includes flexo and gravure printing inks and varnishes for a broad range of substrates such as HDPE, LDPE, polyolefin, polyester, aluminum, PP, and others. With this acquisition, the company will strengthen its presence in Latin America region and enhance their product portfolio.
June 2016- Kao Chemicals Europe announced to acquire Chimigraf Holding S.L., a Spain based organization involved in manufacturing and sales of inkjet ink and flexographic ink for package printing. This acquisition will help company to meet the demand for innovative products and provide better service.
May 2016- Flint Group announced to acquire American Ink & Coatings (AIC), the eight largest North America ink manufacturers. AIC market comprises of folding carton, gift wrap and corrugated printing, water and solvent based inks. With this acquisition the company strengthen their packaging ink position in North America.
The Ink Solvent Report has analysed the level of competition among the major manufacturers in ink solvent market as well as sector growth and market scenario. The global ink solvent market composed of large number of suppliers operating in the market which includes large scale and medium scale manufacturers. The noticeable manufacturers of ink solvent and medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from the Philippines, Taiwan, Singapore, Malaysia, Australia, Japan, South Korea, Indonesia, India, Bangladesh, China, and Thailand. In addition, the key operating players of ink solvent are observed to follow various strategic plans to improve their product portfolio such as distribution agreements, joint ventures, product launches, strategic acquisition and mergers, and exclusive agreements. Numerous key operating players in this market are expected to expand their manufacturing capacity of ink solvent to meet the increasing demand for Ink Solvent Worldwide.
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