Global demand for bio-derived solvents, pigments, additives and resins used in printing inks is accelerating fast as brands and print service providers look to minimise their impact on the environment, according to industry researcher Smithers.
A new Smithers study – The Future of Bio-based Inks and Coatings to 2026 – projects that in 2021 this market will be worth $US5.86 billion worldwide and will advance rapidly at a compound annual growth rate of 7.9% to reach a forecast value of $US8.57 billion in 2026.
“This is providing a major spur to R&D activity even as ink suppliers adjust their product portfolios to a print landscape radically reshaped by the Covid-19 pandemic,” said Smithers. “Smithers’ forecasting includes multiple scenarios for this impact across six world regions and 20 leading world markets.
“This analysis is segmented further by major print processes, and critical analysis of the leading end-uses. Packaging remains the largest market application – with bio-based flexo inks using innovative green materials, like nitrocellulose, already on the market. Parallel opportunities are also increasing in publications and graphics work, as corporate sustainability goals and government regulations expand to minimise the carbon impact of multiple business processes. In these segments, offset litho operators already have several bio-based options, such as soy-based newsprint inks.”
There is an array of non-petroleum solvents that can be used in printing inks – including soybean, palm, sunflower, rapeseed, vegetable oils or ethanol, while resin options include bio-based acrylics, urethanes and polyamides. Bio-based pigments can include algae or wood derived dark pigments to replace carbon black.
“Each will present their own technical challenges to match performance parameters, like quality and runnability, given by existing petroleum-derived solutions. Smithers’s analysis profiles these, as well as the specific demands in individual end-use segments. This is contextualised further by analysis of the evolving regulatory environment for new ink components and sustainability, such as the EU’s strategy to make all chemicals sustainable by design; and how these can be sourced effectively as supply chains adjust to a post-Covid economy.”
The Future of Bio-based Inks and Coatings to 2026 is available to purchase now priced $US6,500.
