The global ink solvent market has been driven by the range of its application in various sectors such as packaging, corrugated, publication, and others. Moreover, it is estimated that the packaging segment is set to witness the highest growth in the market due to the growing consumption of ink solvent in the production of glazed and transparent paper over the forecast period, 2017-2023.

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Market Segmentation

The global ink solvent market is segregated into the chemistry type, product type, process, and application. On the basis of the chemistry type, the market is further categorized into alcohols, acetates, hydrocarbons, and other segments. On the basis of the product type, the market is segmented into conventional, green & bio-based, and other segments. On the basis of the process, the market is classified into flexographic, and gravure segments. On the basis of the application, the market is segregated into packaging, corrugated, publication, and others.

Market Scenario

The green & bio-based segment is anticipated to observe a higher CAGR due to an increased demand for eco-friendly solvents in corrugated cardboard, paper, plastic packaging, Tetra Pak® packaging and adhesive labels for food products.

The packaging is the leading application segment in the market and is anticipated to observe a notable growth due to extensive use of ink solvents on printing labels, price tag, and other materials.

Regional Analysis

The global ink solvent market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds the major portion of the global market and is anticipated to continue its dominance due to rising demand for ink-solvents in various applications such as magazines, catalogs, periodicals, directories, and others. Countries such as China, Japan, and India are the major players in this region. The North America region is estimated to witness a higher growth in the countries U.S., Canada and Mexico owing to increasing demand for ecofriendly and low-cost solvent in packaging, publication, and others. The enactment of new rules and regulations set by the European Union has driven the manufacturers to use bio-based solvents in consumer goods and appliances. Moreover, it is projected that the advancing research & development of green & bio-based inks in the market has propelled this region to witness a significant growth in Germany, the U.K, and Italy.

The Middle East & Africa is estimated to observe a significant growth due to increasing consumption of ink solvent on labels, wood laminates, and others. Additionally, the growing demand for bio-based solvents is projected to boost the market in the Latin American region.

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Competitive Analysis

Some of the major players functioning in the global ink solvent market are Arkema S.A. (France), Ashland (U.S.), BASF SE (Germany), Celanese Corporation (U.S.), The Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), Evonik Industries AG (Germany), INEOS (U.K.), OMNOVA Solutions Inc (U.S.), and Royal Dutch Shell plc (the Netherlands) among others.

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