LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global ink solvent market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The growth of the global ink solvent market can be attributed to various factors such as the high demand for ink solvents from various applications such as flexible packaging, corrugated cardboard, folding cartons, and publishing.
According to Hitesh Bhatia, a lead analyst at Technavio for specialty chemicals research, “The growing consumption of foods and beverages, electronics, and consumer goods have driven the demand for packaging products. The growing packaging industry is expected to drive the ink solvent market as it used in the formulation of printing inks. The growing online trade and sales are also expected to augment the market for ink solvent during the forecast period.
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The top three emerging market trends driving the global ink solvent market according to Technavio research analysts are:
- Growing demand for bio-degradable solvents
- Increase in R&D activities
- Growing demand for graphic art
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Growing demand for bio-degradable solvents
The use of eco-friendly inks and new printing technologies is on the rise as the packaging market continues to drive for sustainable products. The governments of various countries such as the UK, Germany, France, and the US have adopted stringent regulation and policies which specifically address the composition of the inks.
For instance, the company Zanasi introduced 511 BIO inks, the new biodegradable inks for industrial inkjet printers. It is being produced with 100% vegetal derived solvents, and it does not contain any volatile organic compounds (VOCs). The base solvent is made of ethyl lactate, made from maize and soy extracts. The growing demand for sustainability is expected to drive the demand for ink solvents during the forecast period.
Increase in R&D activities
Major flexographic printing ink players have increased their R&D spending to reduce the manufacturing cost of ink solvent and to provide products with enhanced properties and use. These players depend on R&D for innovations and developments, which would, in turn, help them maintain their competitive edge and market share.
“Many innovations and product developments are taking place in the ink solvent market. For instance, continuous scaled manufacturing is one of the new 3D printing processes that print continuous fiber with the UV thermoset resin. The growing demand for green flexographic printing inks is also expected to augment the ink solvent market during the forecast period,” says Hitesh.
Growing demand for graphic art
Design and image are becoming increasingly important in the packaging and publishing industry. The new products must stand out to face the competition. Printing inks are widely used to produce brilliant eye-catching designs on packaging, labels, and other items of printed material. These vibrant, clean, and striking effects help to increase the perceived value of the product.
The growing demand for graphic arts for marketing and promotion of company products is expected to foster the demand for ink solvent as it used in the formulation of graphic arts. Companies such as Nike and Amazon are adopting such pop out art for marketing and promotions. This is also expected to foster the growth of the global ink solvent market.
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