Solvent-based Printing Inks Global Market Report 2024

The solvent-based printing inks market size has grown strongly in recent years. It will grow from $10.01 billion in 2023 to $10.55 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historical period can be credited to factors such as excellent print quality, durability, and resistance, versatility in substrates, a broad application spectrum, cost-effectiveness, and challenges related to regulatory compliance.

The solvent-based printing inks market size is expected to see steady growth in the next few years. It will grow to $12.73 billion in 2028 at a compound annual growth rate (CAGR) of 4.8%. The growth in the forecast period can be attributed to advancements in formulations, increased efficiency, innovation in applications, compliance with environmental regulations, and the expansion of end-user industries. Major trends in the forecast period include the integration of digital printing, established technology, a focus on environmental regulations and sustainability, technological advancements, and the dynamics of end-user industries.

3D technology is anticipated to drive the solvent-based printing inks market in the forecast period, driven by a global surge in interest in 3D printing technology across consumers, researchers, and industrial production. This heightened interest is expected to lead to a significant demand for 3D printing inks, including solvent-based inks. Unlike as 2D inks designed for planar surfaces, 3D inks are formulated for the creation of volumetric constructs and devices. For example, researchers at Dartmouth College have developed a smart ink that imparts shape and color-changing capabilities to 3D-printed structures, adding enhanced functionality to 3D printing. Similarly, scientists at the Georgia Institute of Technology in Atlanta have introduced a novel ink that, when combined with a new printing method and varying lighting conditions, results in the hardening of the 3D printed object.

The growth of the solvent-based printing inks market is expected to be driven by the expanding textile industry. This sector encompasses the production, manufacturing, and processing of textiles and textile products on a global scale. Solvent-based inks play a crucial role in the textile industry, offering features such as vibrant and rich colors, high durability, resistance, fast drying, and the production of long-lasting prints. For instance, Textile World reported in May 2023 that textile and apparel exports in the US reached $34 billion in 2022, marking an increase from $28.4 billion in 2021. Hence, the burgeoning textile industry contributes significantly to the growth of the solvent-based printing inks market.

An anticipated shortage of raw materials, leading to increased market prices, poses a potential challenge to the solvent-based printing inks market. Global printing ink companies are grappling with a shortage of crucial raw materials, including resins, monomers, photoinitiators, oligomers, and additives. This shortage is primarily attributed to plant closures in China, a major supplier of these raw materials, as part of the country's efforts to address industrial pollution. With China playing a dominant role in supplying printing inks due to its robust refinery capacity and associated chemical manufacturing ecosystem, the shortage of raw materials is impacting market players. The high demand for alcohol and solvents, particularly for use in sanitizers and pharmaceutical initiatives, has led to substantial price increases, affecting the manufacturing costs of solvent-based printing ink companies. Consequently, such challenges are expected to restrain the market growth of solvent-based printing inks during the forecast period.

To meet the increasing demand, solvent-based printing ink companies are introducing thermal inkjet inks. Thermal inkjet printing involves ejecting ink droplets by superheating a small portion of solvent-based ink. This printing method offers advantages such as enhanced performance, reduced costs, and versatile ink usage, particularly in photo printing applications. Collins Inkjet, for example, has developed a new solvent-based TIJ ink called Stratus, featuring improved dot control, decap time, and optical density.

Major players in the solvent-based printing inks market are concentrating on innovative products such as the Nazdar 2131 series solvent inkjet inks to boost their market revenues. Solvent inkjet inks are formulated for use in solvent-based inkjet printing technology. Nazdar Ink Technologies, a US-based company manufacturing solvent-based screen-printing inks, launched the Nazdar 2131 series solvent inkjet inks in October 2022. These inks, known for their low-odor formulation even at high operating speeds, deliver dependable and consistent print performance. They are versatile and can be applied to various substrates for both indoor and outdoor applications, including self-adhesive, flexible, and pressure-sensitive media, banner materials, blueback paper, and backed mesh.

Major companies operating in the solvent-based printing inks market report are China National Petroleum Corporation, China Petrochemical Corporation, British Petroleum PLC, Chevron Corporation, The Dow Chemical Company, Sun Chemical Corporation, Flint Group Holdings Limited, Toyo Ink SC Holdings Co. Ltd., Sakata INX Corporation, Siegwerk Druckfarben AG & Co. KGaA, Dainichiseika Color & Chemicals Mfg. Co. Ltd., Grupo Idesa SA de CV, T&K Toka Co. Ltd., Tokyo Printing Ink Mfg. Co. Ltd., Wikoff Color Corporation, Lawter Inc., Bordeaux Digital PrintInk Ltd., Cinkarna Celje dd, SICPA Holding SA, Doneck Euroflex S.A, Royal Dutch Printing Ink Factories Van Son, Lawson Screen & Digital Products Inc., Yansefu Inks and Coatings Pvt. Ltd., Mirage Inks Co. Ltd., Golden Dyechem, TW Graphics Inc., O Ecotextiles Inc., Coatings Pvt. Ltd., Huber Group India Pvt. Ltd., Fujifilm Sericol India Private Limited, Stehlin Hostag UK Ltd., Gabba Screen Printing Supplies.

Western Europe was the largest region in the solvent-based printing inks market in 2023. Asia Pacific was the second-largest region in the solvent-based printing inks market report. The regions covered in the solvent-based printing inks market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the solvent-based printing inks market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories within the solvent-based printing inks market include cellulose inks, epoxy inks, vinyl inks, vinyl-acrylic inks, and polyurethane inks. Epoxy inks, characterized by thermosetting resins that form tight cross-linked polymer structures, are particularly noteworthy. Various printing technologies, such as lithographic, gravure, flexographic, screen-printing, letterpress, digital, and others, are employed for these inks. The diverse applications encompass labels and packaging, commercial printing, publication, and various other applications.

The solvent-based printing inks market research report is one of a series of new reports that provides solvent-based printing inks market statistics, including solvent-based printing inks industry global market size, regional shares, competitors with a solvent-based printing inks market share, detailed solvent-based printing inks market segments, market trends and opportunities, and any further data you may need to thrive in the solvent-based printing inks industry. This solvent-based printing inks market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.

The solvent-based inks market consists of the sales of hard solvent inks, and eco-solvent inks. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.