Solvent based Inks Market – Snapshot
Solvent drying plays an essential role in drying solvent-based inks in the process of manufacture of packaging material. It is carried out at the converter’s end. The solvent drying method is essential to avoid the migration of retained solvent in the final packaging material into the product, as the latter may be harmful for human health and also impact the organoleptic properties of the product.
Solvent-based inks are primarily used for printing products that are to be employed outdoors due to their ability to adhere to non-absorbent materials. Solvent-based inks are fade proof, scratch resistant, and water proof; therefore, these are suitable for outdoor printing applications. Use of inorganic solvents and toxic metals such as cadmium, hexavalent chromium, lead, and mercury in printing inks has adverse effects on the environment.
Solvent-based inks take lesser time to dry compared to other organic solvent-based and water-based inks. This, in turn, increases their usage among end-users. Discouraging the use of such inorganic solvents is likely to have a negative impact on the global solvent-based ink market.
Implementation of various government regulations that limit the use of solvent-based products such as inks, rise in concerns over shifting consumer preferences toward ‘greener’ alternatives, and the effects of global warming are the major factors restraining the solvent-based inks market.
Various solvent-based ink manufacturers such as Dow Chemicals are focusing on developing low VOC versions of traditional solvents inks. These products possess properties and application characteristics similar to that of conventional solvent-based inks. Furthermore, bio-solvents are developed using renewable raw materials as feedstock, with reduced VOC emissions as compared to traditional solvent-based inks.
The global solvent-based inks market has been segmented based on printing technology, application, and region. Based on printing technology, the global solvent-based inks market has been classified into lithographic, gravure, flexographic, screen-printing, letterpress, and digital. The lithographic segment held leading share of the global solvent based-inks market in 2018. It is widely used across the globe to print large-volume applications such as pamphlets, brochures, newsletters, business cards, catalogs, postcards, full-color books folders, leaflets, company profiles, stationery, and company brochures.
In terms of application, the global solvent-based inks market has been divided into label & packaging, commercial printing, publication, and others (including wrapping paper, wallpaper, and textile). Packaging is a key segment of the global solvent-based inks market. Rise in need for flexible packaging in the food & beverages sector is expected to fuel the demand for packaging in the next few years. This, in turn, is anticipated to augment the global solvent based-inks market in the near future.
Based on region, the global solvent-based inks market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to remain a highly attractive region of the global solvent-based inks market during the forecast period. International players have shifted their production facilities to countries in Asia Pacific owing to easy availability of raw materials and skilled labor, and low manufacturing costs.
The solvent-based inks market is dominated by large players. Key players operating in the global market include Tokyo Printing Ink Mfg. Co. Ltd., Dainichiseika Color & Chemicals Mfg. Co., Ltd., Sun Chemical Corporation, Flint Group, and Toyo Ink SC Holdings Co., Ltd. Other players operating in the market include Lawter Inc., Yansefu Inks and Coatings Pvt. Ltd., Siegwerk Druckfarben AG & Co. KGaA, Sakata INX Corporation, Huber Group, SICPA Holding SA, Fujifilm Sericol India Private Limited, Royal Dutch Printing Ink Factories Van Son, and T&K TOKA CO., LTD.