The global chemical indicator inks market size is projected to reach US$ 35.4 million by 2024, and register CAGR of 8.1% over the forecast period (2019 - 2027).
A chemical indicator is a substance that visibly detects presence of (or lack of) the concentration of chemicals in a solution, by changing its colour. Chemical indicators, or CIs, have application in sterlisation processes in order to ensure that specific sterlisation guidelines have been achieved. The change in colour is caused by chemical indicator inks that are introduced in minimal quantities so as to not disturb chemical properties of the solution. A reaction takes place between the chemical present in the ink and some of the critical factors of the sterlisation process, which then changes and alters the colour to the expected result.
Chemical indicator inks are primarily used in end use industries such as chemical, pharmaceutical, and healthcare in the process of sterlization monitoring and as neutralisation reaction indicators. Sterlisation is one of the primary processes that take place in the healthcare industry since sterlisation of surgical equipment, instruments, and supplies directly affect patients' health and wellbeing. Chemical indicators can confirm the effective sterlisation of equipment used in surgery and patient care, and help determine the sterlisation level that has been reached. Growing prevalence of infectious diseases worldwide is expected to drive demand for chemical indicator inks. Furthermore, stringent regulations implemented by regulatory bodies such as the U.S. Environmental Protection Agency such as mandates for sterlisation of surgical supplies and equipment is a contributing factor to the rising demand for chemical indicator inks. Chemical indicator inks are also gaining traction in the food canning industry, particularly for suppliers of perishable, canned products such as meat and fish.
Chemical indicator inks are also used in solvents and colorants in rotogravure in printing processes. These products, which have a liquid consistency due to the presence of petrochemicals, can release volatile compounds that are harmful for the environment. Additionally, the overall cost involved in the printing industry depends on the process selected. Flexographic printing, for instance, incurs higher costs compared to other processes, which can hamper the market growth in the near future.
In terms of volumetric consumption, production, and revenue generation, Asia Pacific is expected to remain dominant. Rising industrialisation, and the presence of end use industries such as pharmaceutical, chemical, and food canning is likely to complement the increasing demand for chemical indicator inks in the region. Increasing involvement of emerging economies such as Malaysia, Taiwan, and Indonesia in the food processing industries is another factor propelling the market growth. Research and development activities in South America and other regions will be a key contributor in the global market share. Market growth in Europe is projected to be sluggish in comparison to Asia Pacific, however presence of key players in the region is expected to benefit the regional market over the forecast period. The pharmaceutical industry in North America is expected to grow at a steady rate, and the region is projected to take a lead in manufacturing pharmaceuticals.
The global chemical indicator inks market is expected to witness several developments over the forecast period. Some of the key players in the market are The Dow Chemical Company and DuPont, and BASF SE.
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