Albany, New York, December 06, 2016: The global solvent-based inks market is projected to expand at a modest 2.9% CAGR from 2016 to 2024, states a report added to Market Research Reports Search Engine (MRRSE). This report is published by Transparency Market Research and is titled “Solvent-based Inks Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024”. The study indicates that the global market will rise from a value of US$5.4 bn in 2015 to US$7.9 bn by 2024.
The global market for solvent-based inks is geographically segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. By product type, the market includes vinyl-acrylic inks, vinyl inks, polyurethanic inks, epoxy inks, and cellulose inks. Based on printing type, the report segments the overall market into gravure, lithographic, screen-printing, flexographic, digital, and letter-press. Solvent-based inks find application in books and catalogs, packaging, tags and labels, advertising, magazines, office stationery, newspapers, and others. The report identifies the leading segments based on each of these parameters and also highlights categories that are likely to exhibit the strongest growth.
MEA and Latin America Exhibit Promising Future
Asia Pacific is the leading and most promising market for solvent-based inks and is likely to register a modest yet steady CAGR of 4.8% from 2016 to 2024. One of the key factors driving the APAC market is the strong presence of leading vendors in the region. The report indicates that six of the eight global manufacturers of inks in the world are based in Asia Pacific. Other factors contributing toward the growth of the solvent-based inks market in the region are rising consumer spending, a rapidly expanding population, and the soaring demand for sustainable and attractive packaging and printing solutions.
The market for solvent-based inks also finds immense scope for growth in the regions of the Middle East and Africa and Latin America. Although several economies in these regions are still in the initial stages of development, the promise of rapid economic growth presents several opportunities for players in the solvent-based inks market.
Vinyl Inks Hold Lion’s Share in Solvent-based Inks Market by Product
Flexographic and lithographic are two of the most widely used printing processes and the demand for solvent-based inks in these segments is presently the highest. Although gravure printing was once much in demand, its significance has gone down in recent years owing to the introduction of lithographic and flexographic printing. Product-wise, vinyl inks exhibit the highest demand owing to their ease in adaptation to different substrates and their quick drying characteristics. Cellulose inks are anticipated to witness strong growth in the years to come thanks to the fact that they are in tandem with various environmental norms. Based on application, the packaging industry accounts for the dominant share while the publication sector holds immense scope for growth.
This highly fragmented market for solvent-based inks is characterized by the presence of a large number of local and global players. Huber Group, Sun Chemical Group, Sakata INX, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink Mfg. Co., Ltd., and Flint Group presently dominate the market. Although these companies were, in the past, restricted by unfavorable economic policies and fluctuating prices of raw materials, they have gained significant momentum in the recent past.
The report studies the leading players competing in the global solvent-based inks market based on a host of criteria, such as company, business, and financial overview, recent developments, product portfolio, and strategic alliances.
Browse Full Global Solvent-based Inks Market Report with TOC:http://www.mrrse.com/solvent-based-inks-market
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