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Ink Solvents Market Will Reflect Significant Growth Prospects By 2026 | TMR

Ink Solvents Market Will Reflect Significant Growth Prospects

Ink Solvents Market – Snapshot

Solvent is a liquid that dissolves a solute. Water is the common solvent used in various industries. Solvents are primarily used in paints and coatings, polymers, printing inks, pharmaceuticals, and cosmetics. In printing inks, solvents are used to dissolve pigments and aid the drying of inks. Furthermore, low-boiling-point solvents evaporate quickly, leaving the pigment on the surface of the substrate. Ink solvents are inks primarily used as solvent base inks in various printing applications. Generally, two types of solvent are used in the printing inks industry: oxygenated and hydrocarbon solvents. Oxygenated solvents contain oxygen in their molecule structure. They are derived from petroleum based materials and are widely used as additives in the manufacture of various products (from cosmetics and paints to cleaning detergents). Hydrocarbon solvents are made of hydrogen and carbon atoms. These include aliphatic and aromatic solvents such as toluene, gasoline, hexane, and xylene. Solvent inks are durable and versatile. Increase in consumption of solvents in the printing inks industry is anticipated to drive the global ink solvents market during the forecast period.

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Low volatile organic compound (VOC) emission of inks and rise in demand for these inks in various industries are key factors driving the bio-based ink solvents segment. The packaging industry is continuously evolving; therefore, printing has gained a strong foothold in the industry. Furthermore, the advent of solvent-based inks in textiles and advertising applications has boosted the demand for ink solvents. Exceptional printing quality, image durability, and versatility in printing on any substrate are propelling the printing inks industry, thereby augmenting the ink solvents market. Additionally, development in technologies and introduction of bio-based solvents have resulted in the replacement of conventional solvents. Increase in demand for bio-based inks is expected to fuel the ink solvents market during the forecast period.

The global ink solvents market has been segmented based on solvent type, type, process, and region. In terms of solvent type, the market has been divided into alcohols, ketones, hydrocarbons, and others (including ethers and esters). The alcohols segment dominated the market with 40% share in 2017. The hydrocarbons segment is expanding at a significant pace owing to its superior features. Based on type, the global ink solvents market has been bifurcated into conventional and bio-based. The bio-based segment held nearly 30% share of the market in 2017. Demand for petroleum-based solvents has been decreasing due to the increase in number of regulations over VOC emissions from paints and coatings, printing inks, and industrial and domestic cleaning products; and rise in environmental awareness. Less harmful and environment-friendly solvents are replacing petroleum-based solvents. These factors are anticipated to propel the bio-based segment during the forecast period.

In terms of process, the global ink solvents market has been segregated into flexography, gravure, and others (including screen and digital). Solvent-based inks are widely used in drop-on demand piezo inkjet printing and continuous inkjets. Furthermore, demand for flexography printing is largely driven by the rise in output of the packaging industry. Rapid urbanization and changing trends in the packaging printing industry are driving the flexography process. This, in turn, is boosting the ink solvents market. Introduction of bio-based and green solvents is also a key factor driving the ink solvents market.

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Key players profiled in the report on the global ink solvents market include LyondellBasell Industries Holdings B.V., DowDuPont Inc., Exxon Mobil Corporation, Royal Dutch Shell plc, Eastman Chemical Company, CELANESE CORPORATION, INEOS AG, Vertec Biosolvents, Sasol Limited Group, and Yip’s Chemical Holdings Limited.

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