Ink Additives Market worth $2.0 billion by 2023 | Key Players include ALTANA AG, BASF SE, Evonik Industries, Elementis PLC, Dow Corning, Shamrock Technologies, Munzing Chemie GmbH, Solvay S.A., Harima Chemicals Group, and Lubrizol

According to recent market research "Ink Additives Market by Type ( Dispersing & Wetting Agents, Foam Control Additives, Slip/Rub Materials, Rheology Modifiers), Process, Technology, Application (Packaging, Publishing, Printing), and Region - Global Forecast to 2023", The global ink additives market is projected to reach USD 2.0 billion by 2023, at a CAGR of 5.2% between 2018 and 2023. This growth is attributed to the growing demand for sustainable, low-cost, and safe additives which have led to the development of new additives and chemistries. Additives that offer excellent performance characteristics at reduced cost and have a lower impact on the environment are in the best position to capture the market. China, India, and other Southeast Asian countries promise increasing demand for ink additives owing to increased demand from major applications.

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The global ink additives market size is projected to grow from USD 1.5 billion in 2017 to USD 2.0 billion by 2023, at a CAGR of 5.2% during the forecast period. The global ink additives industry is witnessing growth because of increasing applications, technological advancements, and increasing demand from Asia Pacific, mainly from China, Vietnam, Indonesia, and India. The demand from the inkjet printing segment is expected to create ample opportunities for the growth of the ink additives market. Inkjet printing is increasingly used across applications, such as printing photos, manufacturing of color filters for LCD TVs & circuit boards, and outdoor signs & posters.

This market has opportunities from the APAC market as many international companies have, in the recent past, shifted their manufacturing sites to China and India. Both the countries are major exporters of printing inks, dye, and pigments, and hence some of the international companies are exploring this opportunity. This, in turn, has been increasing the demand for ink additives from the printing ink industry.

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The global ink additives market is estimated to grow from USD 1.5 billion in 2018 to USD 2.0 billion by 2023, at a CAGR of 5.2%. The increasing usage of printing inks in packaging used across the food & beverages, personal care, and cosmetics industries is expected to drive the overall ink additives market over the next five years. Growing e-commerce and preference for small and efficient packaging are expected to benefit the demand for flexible packaging and corrugated boxes, thereby increasing the demand for ink additives from these segments.

The ink additives market is expected to witness a moderate growth rate, in terms of value, between 2018 and 2023. The key players in the ink additives market are ALTANA AG (Germany), BASF SE (Germany), Evonik Industries (Germany), Harima Chemicals Group (Japan), and Elementis PLC (UK).

The growth of the ink additives market is largely influenced by new product launches in the past few years. A few major players undertook different strategies during 2017. Expansion and merger & acquisition formed an essential part of the strategies adopted, which led to the flow of considerable income within the company.

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ALTANA AG is one of the major industry players in the ink additives market. The additives division of ALTANA, BYK additives is popular globally for their products that are used in the coating, inks, and plastics industries. It ranges from wetting and dispersing agents to defoamers, wax additives, modifiers, and many more. The company adopted merger & acquisition and expansion as the key strategies in the ink additives market between 2013 and 2019. In 2017, the company through BYK additives acquired plastics additives manufacturer PolyAd Services. The strategy was undertaken to strengthen BYK’s plastics additives segment.

Evonik Industries is one of the world’s largest specialty chemicals companies. The company mainly adopted new product launch and acquisition to grow in the ink additives market. In January 2019, Evonik acquired Structured Polymers Inc., (US) which is a startup firm for 3D printing materials. The acquisition of Structured Polymers’ technology was undertaken to complement Evonik’s activities with the high-performance polymers for additive manufacturing.

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