Study shows global demand for bio-based inks growing fast

According to industry researcher Smithers, 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. A new Smithers study – The Future of Bio-based Inks and Coatings to 2026 – projects that in 2021 this market will be worth US$5.86 billion worldwide and will advance rapidly at a compound annual growth rate of 7.9 percent to reach a forecast value of US$8.57 billion in 2026.

The study states that it will provide 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. The forecast of the study includes multiple scenarios for this impact across six world regions and 20 leading world markets. 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.