Ink Wetting Agents Market Report Overview
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The global ink wetting agents market size was USD 1151.7 million in 2022. As per our research, the market is expected to reach USD 1599.1 million in 2029, exhibiting a CAGR of 4.7% during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the ink wetting agents market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Ink wetting agents, also known as surfactants or surface-active agents, are chemical substances used in the formulation of inks and other coatings to improve their ability to spread and adhere to various surfaces. These agents modify the surface tension of the ink, allowing it to spread more evenly and create a smooth and continuous film.
The market is expected to rise with a significant growth rate over the forecast due to the growing advancements in printing technologies, increasing demand for packaging & inkjet printers, and growing industrial applications. Additionally, the market is split by type, by application, and by geographical expansion of the market. On the basis of the type of wetting agents, water-based and solvent-based are popular in the market. On the other hand, packaging, publishing, and commercial printing are the main application segments to spike in the demand for ink agents.
COVID-19 Impact: Pandemic Declined Economic Activities & Demand for Printed Materials
At the beginning of the COVID-19 pandemic, entire business industries experienced challenges due to uncertainties of lockdown limitations. The industrial operations were shut down and demand and supply in several industries declined except essential services and goods and products. However, e-commerce industries shined out during the world health emergency due to the convenience of shopping which aided numerous markets including print, packaging, and ink industries. However, after the ease of the industry's restriction, the market has begun to rebound and gained increasing demand for ink-wetting agents from several applications.
Latest Trends
"Trend of Advanced Formulations of Ink Properties for Specialized Applications Stretch Market Extent"
In recent years, the printing industry has been evolving with the growing trend of prime, unique packaging with clear barrier films, and high graphic capability. Apart from this, the market is also witnessing a growing demand for eco-friendly and sustainable inks and coatings. In response to this trend, ink-wetting agent manufacturers were focusing on developing and offering environmentally friendly solutions with reduced environmental impact, such as bio-based surfactants or those derived from renewable resources. Also, different industries require specific ink properties to meet their unique printing and coating needs. Ink wetting agent manufacturers are increasingly developing specialized formulations tailored to applications in industries such as food packaging, pharmaceuticals, electronics, textiles, automotive, and so on. These trends and advanced printing agents are likely to influence the ink wetting agents market growth during this projection period.
Ink Wetting Agents Market Segmentation
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- By Type Analysis
According to type, the market can be bifurcated into water-based and solvent-based.
- By Application Analysis
Based on application, the market can be divided into packaging, publishing, commercial printing, and others.
Driving Factors
"Printing Industry Growth Uplift the Demand for the Wetting Agents"
The growth of the printing and packaging industries is a significant driver for the ink wetting agents market. As these industries continue to expand, there is a corresponding increase in the demand for high-quality inks that can achieve consistent and vibrant results on various substrates, leading to a higher demand for ink wetting agents.
"Rising Advancements in Printing Technologies Enhance the Growth of the Market "
The growth of the market is also driven by ongoing advancements in printing technologies, such as digital printing, UV-curable inks, and hybrid printing that require specialized inks with specific properties. Ink wetting agents play a crucial role in formulating inks that are compatible with these advanced printing methods. In addition to this, the expansion of the packaging industry, driven by increased e-commerce, changing consumer preferences, and new product launches, has a positive impact on the ink wetting agents market which support the market’s growth.
Restraining Factors
"Competition from Digital Alternatives Can Deter the Market Extension"
Along with driving factors, the market has some constraints such as volatile raw material prices and competition from digital alternatives which can affect the market progress. The cost and availability of raw materials used in manufacturing ink wetting agents can be volatile. Fluctuations in raw material prices can impact the overall cost of production and squeeze profit margins for manufacturers. Besides, the shift towards digital alternatives for communication and marketing, including digital media and online advertising, has reduced the demand for printed materials in some sectors. As a result, the overall demand for ink and ink wetting agents may be affected.
Ink Wetting Agents Market Regional Insights
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"Europe Dominates the Market Due to the Presence of the Major Manufacturers in the Region"
As per market research, Europe is the dominating region in the market. The region is known for its well-established printing and packaging industries, with several major ink and coating manufacturers operating in the region. The presence of these manufacturers contributes to the demand for ink wetting agents in Europe. Additionally, the region's focus on sustainability and environmental consciousness has driven the demand for eco-friendly inks and coatings, which could impact the demand for specific types of ink wetting agents. Furthermore, in terms of market revenue about one-third of the ink wetting agents market shares are occupied by the region globally.
Key Industry Players
"Key Players Offer a Wide Range of Ink Wetting Agents Tailored to Various Printing Processes and Substrates"
With regard to key players, leading companies in the market drive growth through research and development, offering diverse product portfolios, and collaborating with industry partners. Their global presence, quality products, and effective marketing strategies promote market expansion. Technological advancements, regulatory compliance, and strategic acquisitions also influence market growth. Overall, these leading companies shape the market's dynamics and drive its development by leveraging their expertise.
List of Market Players Profiled
- Altana
- BASF
- Dow
- Elementis
- Evonik
- Honeywell
- Dorf Ketal
Report Coverage
This report defines the ink wetting agents market. It emphasizes the market value, expected CAGR, and USD value over the forecast period, before and after the impact of the COVID-19 pandemic restrictions on the international market, and how the industry is going to turn the corner is also stated in the report. The report provides significant market data with its product type and product applications, end-use details, and an idea of the market growth in the future. This report also provides an understanding of the growing market trends and developments and their effects on the market growth, driving factors along with restraining factors that impact the market dynamics. Along with this, the leading region, key players of the market, and their tactics to beat the market competition, sustainable policies, their collaboration, mergers, companies’ profile, previous years’ revenue, profit & loss, and market position based on their share value in the market, are also explained in the report.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 1151.7 Million in 2022 |
Market Size Value By |
US$ 1599.1 Million by 2029 |
Growth Rate |
CAGR of 4.7% from 2022 to 2029 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the global ink wetting agents market expected to touch by 2029?
The global ink wetting agents market is expected to touch USD 1599.1 million by 2029.
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What CAGR is the ink wetting agents market expected to exhibit during 2022-2029?
The ink wetting agents market is expected to exhibit a CAGR of 4.7 % over 2022-2029.
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What are the key driving factors of the Ink Wetting Agents market?
The growth of the printing industry and rising advancements in printing technologies are the key driving factors of the Ink Wetting Agents market.
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What are the key players in the Ink Wetting Agents market?
The key players in the Ink Wetting Agents market include: Altana, BASF, Dow, Elementis, Evonik, Honeywell, and Dorf Ketal are top players in the market.
