The ink solvent market is dominated by respective global players along with the presence of few regional players in the key growth markets. The Asia-Pacific region is the largest market, followed by Europe in the global ink solvents industry.
The key companies in this market are Arkema S.A. (France), Ashland Inc. (U.S.), BASF SE (Germany), Celanese Corporation (U.S.), Dow Chemical Company (U.S.), Eastman Chemical Company (U.S.), Evonik Industries AG (Germany), Ineos AG (Switzerland), Omnova Solutions (U.S.), Royal Dutch Shell (Netherlands), and Solvay AG (Belgium), and Vertec Biosolvents Inc. (U.S.) and they are the most active and major players in the ink solvent market.
Merger and acquisition was the key strategy adopted by industry players in order to achieve growth in the ink solvents market. This strategy accounted for a share of 29% of all growth strategies adopted by market players. The moderate demand for ink solvents as well as the increasing demand for the printing inks in the packaging industry has encouraged companies to adopt this strategy. Market players are focusing on entering new markets by acquiring companies thus, enhancing their ink solvent product portfolio for different applications. Ineos AG (Switzerland) and Eastman Chemical Company (U.S.) are some of the leading market players that adopted this strategy in order to develop their business.
Besides mergers and acquisitions, companies adopted the strategy of agreements, partnerships, collaborations, and joint ventures in order to expand their market share and distribution network. This strategy also accounted for a share of 29% of the total number of growth strategies adopted by players in the ink solvent market between 2010 and 2014.
INEOS Enterprises acquired European solvent manufacturer, Sasol Solvents Germany GmbH (South Africa). This acquisition comprised the production facilities in Germany, based at Moers and Herne. This helped the company in establishing a complementary fit with the product portfolio and the company’s expertise and opened up the possibility of integration into their existing manufacturing sites in Germany.
Eastman Chemical Company acquired Solutia Inc. (U.S.). This $4.8 billion acquisition supported the company’s growth strategy to increase their revenues and profit margins by expanding the geographic reach of the company, especially in the emerging markets. This deal also helped the company to establish a more diverse as well as sustainable product portfolio.
BASF and Xinjiang Markor Chemical Industry Co. Ltd. (China) have signed contracts to establish joint ventures for the production of butanediol (BDO). The joint venture companies intend to build a plant for the production of BDO and is planned to go on stream in 2015. BASF and Markor also announced to establish two joint venture companies in Korla, Xinjiang Uygur autonomous region, Northwest China. Markor currently produces BDO with an annual capacity of 160 thousand tons and is the largest producer of BDO in China. This joint venture by BASF will expand their production capacity of BDO in China to serve the end user industry.
Vertec signed a distribution agreement with Univar N.V. (the Netherlands) a leading global chemical distributor; through its European representative Liberty Chemicals srl (France). According to the agreement, Univar will distribute 15 biodegradable, carbon neutral and alternatives bio-solvents to widely-used conventional solvents in the European region. This agreement helped the company enhance its market position in that region.
The market strategies by the leading players will increase their market share, thereby enhancing their global presence in the ink solvents industry.
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