The alcohol ink market is set to witness steady growth during 2021-2031, with a CAFR of around 4-5%. The alcohol ink market provides the customer with different alcohols as a solvent due to their unique feature i.e. it can be removed easily.
Additionally, alcohol inks have huge applications in various industries such as paints and coatings, polymers, printing inks, pharmaceuticals, and cosmetics. Such factors are likely to grow the alcohol ink market.
What is Driving Demand for Alcohol Ink Market?
Evolving end-user demand for low volatile organic compound emission of inks in various industries continues to drive demand for alcohol ink. Additionally, the growing packaging industry and its applications continue to be a lucrative avenue for alcohol ink manufacturers.
Sales of alcohol ink are projected to grow owing to the availability of cost-effective and environmentally friendly products offerings, which are likely to drive the demand for alcohol inks during the forecast period. Moreover, the growing printing industry is another major factor promoting the sales of the alcohol ink industry.
However, the outspread of the COVID-19 had severely impacted the working of industries as the regional government had implemented strict regulations thus, shutting down everyday activities. Moreover, the decline in the sale of the construction industry had majorly impacted the alcohol inks market, thus, negatively impacting the growth.
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The surge in Demand from Retail and Logistics Sector Likely to Grow Alcohol Ink Sales
The rapid urbanization has resulted in fueling the consumer’s capacity of purchasing goods and services that have further, encouraged the manufacturers to offer various products and services such as retail and logistics with a premium service. The manufacturers are also emphasizing implementing cheap and effective packaging solutions that maintain the quality of goods being supplied.
Additionally, the growing advertising and textile industry applications have drastically fueled the demand for alcohol inks in the market. Excellent printing quality, image effects, and damage control against any natural activity are the topmost of the requirements that are fulfilled by the alcohol ink industry and thus, such factors are driving the sales and projected to expand the growth rate.
U.S. and Canada Alcohol Ink Market Outlook
North America is one of the largest markets for alcohol ink globally due to the significant consumption rate of conventional ink solvents such as alcohol inks used in advertising and promotional activities in the region. Demand is likely to remain muted in the next couple of years, as a number of end-use industries make a gradual recovery.
Demand for alcohol ink in U.S. and Canada will be led by the construction sector. The US construction sector faces a challenging year, however, the change in the mortgage rates tends to help recover the industry by early 2022. The momentum is likely to hold ground, which will provide an impetus to a range of construction materials, including alcohol ink.
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Europe Demand Outlook for Alcohol Ink
The evolving mindset of players and manufacturers in various industries in Europe and the significant growth in the number of manufacturing industries has changed the outlook of the European market for all products and services, therefore, creating new growth opportunities for all including the alcohol ink industry.
Moreover, the rise in the adoption rate of the internet and smartphones that have eased the consumer to purchase the desired product after comparing it with many other suppliers through digital platforms have expanded the growth opportunity of the alcohol ink industry. In addition, the countries of Europe have a large trading business that fuels the demand for alcohol inks, thus, growing the industry.
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Who are the Key Manufacturers and Suppliers of Alcohol Ink?
Some of the leading manufacturers and suppliers of alcohol ink include
- DIC Corporation
- Flint Group
- Toyo ink S.C. holdings
- Sakata inx
- Siegwerk Druckfarben
- Eastman Chemical Company
- Sasol Limited Group
- LyondellBasell Industries Holdings B.V.
- Royal Dutch Shell plc.
- DowDuPoint Inc.
- INEOS AG
- Yip’s Chemical Holdings Limited
- Others.
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