VOC stands for Volatile Organic Compound which is a chemical compound that can naturally possess enough vapor pressure to evaporate under normal condition. Low VOC inks are generally soy or vegetable based, making it environment friendly and having minimum negative impact on the environment. More than 61% of its raw material comprises from bio-based, renewable sources. Vegetable oils account for nearly three fourth of that percentage. In addition, low VOC ink is usually an adequate control for lithographic printing which is expected to boost sales of products such as low VOC inks, at a time when there is a high demand for sustainable ink system, both from the supply-side and demand-side. Therefore, the outlook for the growth of the global low VOC inks market is expected to be largely positive during the forecast period.
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Global Low VOC Inks market: Dynamics
The global low VOC inks is anticipated to grow on the backdrop of the global sustainable ink system growth, during the coming years and beyond. Low VOC inks are manufactured using a variety of renewable sources to suit various applications and markets. In addition, low VOC inks offers printers a greener and more sustainable ink system owing to which low VOC inks market is expected to witness positive growth during the forecast period. Some of the key trends observed in the low VOC inks market are the use of soy-based inks that provide excellent press stability especially in light coverage situations.
The low VOC inks also provide sharp dot reproduction on a variety of coated and uncoated substrates that have a good gloss and are rub resistant. This is also one of the driving factor to fuel up the demand of low VOCs inks market. In spite of the positive outlook for growth, there are certain dynamics, which might hamper the growth of the global low VOC Inks market during the forecast period. Methane is also a part of VOC that evaporates and the fumes create smog and air pollution. This creates indoor air pollution and also causes sick house syndrome. For low VOC inks market to witness higher demand, more consumers need to be made aware regarding the advantages of sustainable ink system.
The North America low VOC inks market is expected to retain the leading position during the forecast period. This is attributed to a large eco-friendly sustainable ink system in this region. The Western European region is also expected to witness sizeable demand for low VOC inks market, as manufacturers look to make a move from conventional to sustainable inks system due to its excellent drying capability. Growth in the APeJ region is anticipated to be gradual, during the next ten years, with India and China emerging as the hub for sustainable growth of the system. The Latin America retail industry is still on the path to recovery from the effects of the recession of 2015. However, post-2020, the retail sector in the region is expected to gain momentum, resulting in more sales of sustainable ink system with low VOC inks.
Global Low VOC Inks market: Key Market Participants
Few of the key market participants operating in the global Low VOC Inks market are – DIC Corporation, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink S.C. Holdings, and INX International Ink Co. among others.