The global ink additives market is estimated to grow from USD 1.5 billion in 2018 to USD 2.0 billion by 2023, at a CAGR of 5.2%. The increasing usage of printing inks in packaging used across the food & beverages, personal care, and cosmetics industries is expected to drive the overall ink additives market over the next five years. Growing e-commerce and preference for small and efficient packaging are expected to benefit the demand for flexible packaging and corrugated boxes, thereby increasing the demand for ink additives from these segments.
Asia Pacific is the largest ink additives market, in terms of value, followed by Europe and North America. Easy availability of raw materials and low-cost labor coupled with significant domestic demand make Asia Pacific one of the most attractive markets for the industry participants.
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The ink additives market is expected to witness a moderate growth rate, in terms of value, between 2018 and 2023. The key players in the ink additives market are ALTANA AG (Germany), BASF SE (Germany), Evonik Industries (Germany), Harima Chemicals Group (Japan), and Elementis PLC (UK).
The growth of the ink additives market is largely influenced by new product launches in the past few years. A number of major players undertook different strategies during 2017. Expansion and merger & acquisition formed an essential part of the strategies adopted, which led to the flow of considerable income within the company.
ALTANA AG is one of the major industry players in the ink additives market. The additives division of ALTANA, BYK additives is popular globally for their products that are used in the coating, inks, and plastics industries. It ranges from wetting and dispersing agents to defoamers, wax additives, modifiers, and many more. The company adopted merger & acquisition and expansion as the key strategies in the ink additives market between 2013 and 2019. In 2017, the company through BYK additives acquired plastics additives manufacturer PolyAd Services. The strategy was undertaken to strengthen BYK’s plastics additives segment.
Evonik Industries is one of the world’s largest specialty chemicals companies. The company mainly adopted new product launch and acquisition to grow in the ink additives market. In January 2019, Evonik acquired Structured Polymers Inc., (US) which is a startup firm for 3D printing materials. The acquisition of Structured Polymers’ technology was undertaken to complement Evonik’s activities with the high-performance polymers for additive manufacturing.
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