Solvent-Based Inks Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions

"The Business Research Company recently released a comprehensive report on the Global Solvent-Based Inks Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The solvent-based inks market size has grown strongly in recent years. It will grow from $8.47 billion in 2023 to $8.90 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to growth in digital printing industry, growth in the lamination industry, growth of the transportation industry, and rising investment in solvent-based inks usage.

The solvent-based inks market size is expected to see strong growth in the next few years. It will grow to $10.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to packaged material usage in food and consumer packaging applications, rise in popularity of bio-based solvents, increase in ad spending personalization, outdoor advertising and packaging offers, growing demand for printed materials. Major trends in the forecast period include need for high-quality prints, shift towards high-quality prints, customizable options, and durable coatings, focusing on ongoing research and development, integrated solutions, rapid development in ink.

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Market Drivers and Trends:

The increasing printed advertising spending is expected to propel the growth of the solvent-based inks market going forward. Print advertising spending represents the cost of advertising in national and local newspapers, magazines, and business publications. Print advertising spending is on the rise because print media allows advertisers to target specific demographics and niche audiences with precision. It also helps build brand awareness and recognition by consistently exposing consumers to a brand's messaging over time. Solvent-based inks offer good resistance to fading and deterioration over time, ensuring that print advertisements maintain their visual impact and readability for extended periods. These are also compatible with high-speed printing equipment, allowing advertisers to produce large volumes of printed materials efficiently and cost-effectively. For instance, in April 2022, according to an article shared by the International News Media Association, a US-based global community of news media companies, the expenditure on advertising in print newspapers globally grew by 4.8% last year. Print revenue has grown by 13% in India. In Germany, 89% of newspaper revenue comes from print. Therefore, increasing printed advertising spending is driving the growth of the solvent-based inks market.

Major companies operating in the solvent-based inks market are developing innovative products, such as ONECode solvent-based inks and coatings, to gain a competitive edge in the market. ONECode solvent-based inks and coatings are designed to simplify the flexible packaging printing process, reduce process waste, and increase ease of doing business for European flexible packaging converters. For instance, in July 2021, Flint Group, a Luxembourg-based printing company, launched ONECode solvent-based inks and coatings in Europe. The ONECode portfolio also incorporates overprint varnishes and primers under the NexisCode brand name and additives under the AdmixCode brand. The range offers high-quality, consistent results, optimized customer support, reduced inventories, and simplified ordering processes.

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Major Key Players of the Market:

BASF SE, Honeywell International Inc., Mitsubishi Chemical Holdings Corp., 3M Company, Henkel AG & Co. KGaA, Covestro AG, DuPont de Nemours Inc., Arkema SA, Avery Dennison Corporation, Sun Chemical Corporation, Huntsman Corporation, Clariant AG, H.B. Fuller, Altana AG, Flint Group, Ashland Inc., Sakata INX Corporation, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink SC Holdings Co. Ltd., Dainichiseika Color and Chemicals Mfg. Co. Ltd., Huber Group Holding SE, SICPA Holding SA, Zeller+Gmelin GmbH & Co. KG, Tokyo Printing Ink Mfg. Co. Ltd., Wikoff Color Corporation, Lawter Inc., Heubach GmbH, FUJIFILM Europe GmbH, Eptanova S.R.L.

Solvent-Based Inks Market 2024 Key Insights:

• The solvent-based inks market size is expected to see strong growth in the next few years. It will grow to $10.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
• Increased Print Advertising Spending And Its Effect On The Solvent-Based Inks Market
• Innovative Product Developments Driving Competitive Advantage
• Asia-Pacific was the largest region in the solvent-based inks market in 2023

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