The global market value of ink additives was estimated to be about $629.02 million in 2013 and is projected to grow to reach around 232.59 kilotons by volume by 2019, signifying a firm CAGR of around 4.75% between 2014 and 2019 according to the Ink Additives Market report from researchandmarkets.com.
The global ink additives market, along with its applications, has shown a moderate growth in the past few years and is estimated to continue in the coming years. An increase in the demand in flexible packaging, corrugated cardboard, promotion, and other applications will be the key influencing factors for the global ink additives market. The demand for online shopping is increasing in the emerging countries and lables, plastic bags and invoice are used for packaging which eventually drive the printing ink market.
Currently, the Asia-Pacific region is the largest consumer of ink additives and is estimated to grow at the highest CAGR. The countries such as China, Japan, and India is expected to lead the Asia-Pacific ink additives market, with China having the largest share in the regional volumetric consumption of ink additives. The market volume of ink additives is comparatively low in the RoW region, but the estimated growth for the region is second highest after Asia-Pacific.
The steady rise of digital media has shrunk the print media market by which many players have shifted at least half of their marketing spending from traditional to digital advertising over the last few years. More than 25% of the total ink additives demand was for the flexible packaging application in 2013.
The North America and the Europe regions are the most active markets in terms of strategic initiatives, owing to their market demands. The corrugated cardboard application has led the rapid growth in the ink additives market.
The key companies in this market are Alatana AG (Germany), Air products (U.S.), BASF SE (Germany), Eastman Chemical Company (U.S.), Evonik TEGO (Germany), Elementis PLC (U.K.), Huntsman Corporation (U.S.), Lawter (U.S.) , Munzing Corporation (Germany), Shamrock Technologies (U.S.), and The Dow Chemical Company (U.S.). These companies are consistently focusing on expanding their production capacity to achieve a competitive advantage and thereby serving the customers more effectively. New product development and acquisitions were the most preferred strategies by the top players in 2013 that were driving the demand of ink additives. Their strategy to capture the untapped market in developing economies includes expansion, partnership and investments.
The Asia-Pacific region emerged to be the driving factor for this market, contributing for about 45% of the global demand in terms of market share in 2013. China is the leading country in the consumption of ink additives, due to the increased demand of the printing inks from the packaging industry. The important emerging economies such as Brazil, India, Thailand, Indonesia, and others are further lined up for a brighter future in this market.
The report also presents a competitive landscape covering different strategies and developments such as mergers & acquisitions, investments & expansions, new product launches, partnerships, agreements & collaborations undertaken by the leading ink additive companies in the past few years. Furthermore, different ink additives market participants are also profiled in the report.
Scope of the report
The report segments the global ink additives market as:
The global ink additives market has been covered in detail in this report. In order to provide an all-round picture, the current market demand and forecasts have also been included.