ID: MRFR/CnM/6032-HCR | February 2021 | Region: Global | 140 pages
According to MRFR analysis, the ink additive market was valued at USD 1.37 billion in 2017 and is expected to reach USD 2.06 billion by the end of 2030 with a CAGR of 5.7% during the forecast period, 2022-2030.
The ink additives are a crucial part of the printing industry, where the printing inks improve their color, printability, adhesion, and appearance. The increasing demand for the packaging industry across the globe is driving the overall growth of the ink additives industry. The printing on the packaging is used as an advertisement and to provide essential information to the potential customers. Therefore the role of ink additives in the printing industry is crucial. Also since printing on the packaging is treated as an advertising element, they drive the sales of the commodity and thereby increase the business. Such factors are considered as major drivers of Ink additives market growth.
Some of the crucial parts of ink additives are Rheology modifiers, slip rub materials, defoamers, dispersants, and significant others. Therefore the manufacturing of these elements and the production rate of these elements are expected to drive the overall growth of the ink additives industry. For instance, Defoamers are intensively used in water-based printing, as they are essential in preventing foaming during the manufacturing processes. Therefore the production rate of a few elements is expected to impact the overall growth of the ink additives industry.
COVID 19 Analysis:
The widespread of COVID has affected several industries and had restricted the manufacturing processes of several goods and commodities. The demand for electronics, consumer goods, and other articles has reduced in recent times, as the purchasing pattern and preferences have changed across the globe. Additionally, the rising price of raw materials and other supply chain disruptions in some industries were affecting the ink additives market demand. Such factors have affected the usage of ink additives.
On the other hand, the packaging industry was growing at a faster pace in recent years due to the growing demand for e-commerce. The restriction for movement and the issues related to logistics have created favorable conditions for the growth of e-commerce and have presented opportunities for the overall growth of the ink additives industry during the pandemic.
The packaging of the goods and commodities have increased with the rising trend of the e-commerce sector, the goods are safer and retain the originality till it reaches the potential customer. The authenticity and the product quality remain unchanged when they are packed efficiently. On the other hand, the information and images printed on the packages are considered as the advertising elements that drive the sales and establish a personal connection to the consumers. Therefore printing quality on the packages is extremely important in the packaging industry. This aspect is considered as the major driver of ink additives market growth.
The presence of varied techniques involved in the packaging industry, that is the wetting agents are used to develop the surface and enhance the overall quality of the printing. On the other hand, the potential market players are bringing in new technologies and development in the industry that are efficiently driving the overall growth of the ink additives industry.
Countries like China were projecting a higher growth rate for flexible packaging. The potential benefits of flexible packaging such as saving energy and substrates of the packaging, clear barrier films, lightweight, and significant others have propelled the end-user industries to adopt the flexible packaging and have thereby presented lucrative opportunities for the ink additives market growth during the forecast period.
The expansion of the existing market players and the acquisitions and merges performed by the potential market players in recent years is expected to boost the ink additives market growth during the forecast period. On the other side, the market players are increasing their investments in the industry to strengthen their existence in the industry. Such factors are expected to boost the ink additives market growth during the forecast period.
The stringent regulations imposed by the government related to the packaging of foods and beverages as it affects the health of the consumers, the regulations are updated every year with new norms and are including certain factors that facilitate the importance of the consumers. Such factors are expected to hinder the overall growth of the ink additives industry.
The printing industries are utilizing the traditional methods for printing, such as lithography which requires more ink than the new methods. Such factors have increased the operational costs and are expected to hinder the overall growth of the ink additives industry.
Continuous changes in the prices of the raw materials required for the ink additives industry and the stringent regulations imposed by the government related to the emission during the production and the adverse effects associated with the chemicals involved are considered as the major challenges for the overall growth of ink additives industry.
The changing economic condition in recent times and the reduction in the industrial processes have restricted the usage of packages for such commodities. Such factors are considered as the major challenges for the Ink additives industry. Similarly, the growth of technology and digitalization which has restricted the usage of paper communication had reduced the overall growth of the ink additives industry in recent times.
Cumulative growth analysis:
The ink additives market value was valued at USD 1.37 billion in 2017 and is expected to reach USD 2.06 billion by the end of 2030 with a CAGR of 5.7% during the forecast period, 2022-2030. The market value of the ink additives industry is because of the growing demand for graphic designing in the packaging industry. The packaging and the commercial printing industries are rapidly gaining momentum in the advertising world. Moreover, the changing technology in an advertisement from print to digital media is also impacting the overall growth of the ink additives industry.
The advent of flexible packaging for varied goods and commodities and the technological innovations in the packaging industries are also impacting the overall growth of the ink additives industry. With the varied types in the ink additives industry, the water repellence, texture, and anti-blocking types, the growth of the ink additives industry is expected to have a healthy growth during the forecast period with a CAGR of 5.2%.
Value chain analysis:
The primary end-user industries of the Ink additives industry are the food packaging industry and printing for various purposes. Several developing countries are focusing on the growth of the printing industry due to the growing trend of e-commerce. For instance, India is growing with a rate of 25% every year and the reduced costs spent on the packaging are over 40% lower than Europe. On the other hand, cheaper labor and other factors are fuelling the packaging industry across the country. Since there are favorable conditions for the growth of the packaging industry, the ink additives market growth is also growing at a faster pace in India and such developing countries.
Several leading e-commerce titans such as Alibaba, Amazon are promoting the overall growth of the Ink additives industry. Alibaba is holding a market share of over 59% and varied applications in the food industry such as printing foils, flexible films, tissues, and significant others are driving the overall growth of the ink additives industry. The attractive packaging makes the product compete in the advertising industry, promote sales and hold potential customers. Therefore the investment towards the packaging industry and the ink additives industry are rapidly increasing.
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Global Ink Additives Market Share, by Application, 2017 (%)
Source: MRFR analysis
The Asia-pacific region is exhibiting a higher market share in the Ink additives industry, where the flexographic printing inks are gaining momentum across the packaging industry. The e-commerce sector is growing at a rapid pace across the Asia-pacific region due to the changing preferences and lifestyles. Therefore the demand for the packaging industry is also rapidly growing across the Asia-pacific region. Such factors are promoting the overall growth of the ink additives industry in the Asia-pacific region. The corrugated containers, flexible packaging, and folding cartons were intensively utilized across the Asia-pacific region, such factors are also stimulating the ink additive market growth.
On the other hand, Europe is exhibiting higher ink additives market share, due to the second-largest packaging industry holding about 20% market share in the year 2019 and valued at over EUR 200 billion in the same year.
In the year 2017, one of the leading market players, Evonik Industries AG has invested about USD 3.8 billion to purchase the specialty additive business of air products which has strengthened its position in the ink additives industry.
In the year 2017, one of the leading market players, Sakata INX had invested about USD 21.6 million to increase the production capacities in Maoming, China. The company was focused to manufacture environmentally-friendly offset-ink.
In the year 2018, one of the leading market players, Toyo Ink Brasil Ltd had brought in novel lamination inks for flexography and gravure printing and a high-performance polyurethane-based surface. This has promoted flexography and gravure printing across industrial verticals.
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|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Ink Additives Types, Process, Technology, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE (Germany), Evonik Industries (Germany), ALTANA AG (Germany), Elementis Plc (UK), Shamrock Technologies (US), Harima Chemicals Group (Japan), Solvay S.A (Belgium), Lubrizol (US), Croda International Plc. (UK), Allnex (Germany), Clariant (Switzerland), Polyone Corporation (US), Raybo Chemical Company (US), and Honeywell International Inc. (US)|
|Key Market Opportunities||ink additives market has opportunity to develop green products to mitigate the future challenges.|
|Key Market Drivers||The demand for Ink additives is expected to drive significantly in the packaging application.|
Frequently Asked Questions (FAQ) :
The ink additives market is projected to grow at a 5.7% CAGR between 2018-2023.
The ink additives market is predicted to touch USD 2.06 billion by 2023.
Asia Pacific will dominate the ink additives market.
Different strategies incorporated by industry players to gain a significant share in the ink additives market include R&D, agreements, investments, joint ventures, mergers and acquisitions, expansions, and product launches.
Increasing concern of toxicity may limit market growth.