ID: MRFR/CnM/3657-HCR | 140 Pages | Published By Chitranshi Jaiswal on April 2023
Ink Resins Market is projected to be worth USD 4.65 Billion by 2028, registering a CAGR of 4.25% during the forecast period (2021 - 2028).
Market Overview: Ink resins are used majorly to manufacture printing inks. Key properties that an ink resins possess are stability, good surface appearance, gloss, flow, solvency, and dilatability. Resins are one the four critical components for manufacturing inks apart from solvent, additive and pigments. The composition of a resin greatly affects the overall characteristics of the ink. The resin serves several important functions such as dispersion of the pigment and prevention of its re-agglomeration. It acts as a pigment binder to provide quick and lasting adhesion to a substrate. Additionally, the resin also provides viscosity or a required flow to the ink which is basically required for transfer of ink from press to substrate. Moreover, the resin contributes to the gloss, drying speed and resistance properties of an ink. The resin ink finds its applications in flexible packaging, paperboard and cartons, and printing & publication, among others. Owing to these factors, the ink resins is expected to gain significant traction during the review period. The ink resins market is majorly driven owing to some of the major market factors and trends in the market. Growing demand of the ink resin from major end users such as printing press, commercial and industrial prints, and others is the primary factor driving growth of the market. The global printing ink market for packaging is estimated to grow at CAGR of over 6.5% due to rising global demand for label packaging providing nutritive and product information. The growth in on-the-go food during the past years is a key factor which is expected to positively impact the growth of the global market. Additionally, the color, design and appearance of the ink is a critical factor when it comes to attracting the customers. This is anticipated to give boost to the global ink resin market in the coming years. Moreover, with increasing per capita disposable incomes and standard of living of the people, particularly in the developing countries coupled with the consumers sentiment to shifting toward the use of packaged food, beverages, and other retail products, is expected to fuel the market demand during the years to follow. Furthermore, continuous R&D to develop new products, advancements in the field of 3D printing, and arrival of new technologies such as inkjet, offset and others is expected boost growth of the market further during the forecast period. However, the fluctuations in the crude oil prices, cost intensive nature of new technologies and shift from traditional to digital market are the major bottlenecks operating in the market, which may hamper growth of the market during the review period. Global Ink Resins Market Share, by End-Use Industry, 2018 (%) Source: MRFR Analysis and World Packaging Organization (WPO) Regional Analysis: Asia-Pacific is the largest market of ink resins due to the expanding dynamics of the region. Asia-Pacific is the fastest growing market for ink resins, owing to the presence of dynamic and emerging economies in the region such as India, Japan, China, Singapore, and South Korea. India and China are the major shareholders in this region on accounts of growing demand for ink resin in packaging industry. In terms of volume the growth of the ink resins market is augment towards the increasing trend of on-the-go packaged food items and online shopping. The online shopping market was accounted for over US$ 1.5 trillion in 2018 in Asia-Pacific, which is expected to significantly impact the growth of the ink resins market during the forecast period. North America is the second largest market in the global ink resins market after Asia-Pacific. The US is leading the market in this region, which is attributed to huge demand of packaged food and other retail products and growing foods & beverages industry. Europe is another significant region in the global ink resins market. Major contributors to the regional market are the UK, France, Germany, and Switzerland, although the region is anticipated to witness a moderate growth during the forecast period due to sluggish growth of end users and economic slowdown. Latin America is estimated to register a significant CAGR owing to reviving economy and high growth potential of Brazil and Mexico. In coming years, the Middle East & Africa region is set to grow at considerable CGAR on account of the huge growth opportunities offered by tourism industry. Segmentation Analysis: The global ink resins market has been segmented based on type, printing process, application, and region Based on type, the global ink resins market has been categorized as modified resin, acrylic, cellulose, polyamide, polyurethane, hydrocarbon, and others. By printing process, the global ink resins market has been divided into lithographic, flexographic, gravure, letterpress, and digital. On the basis of application, the global ink resins market has been segregated into printing & publication, corrugated boards, flexible packaging, and others. The global ink resins market, by region, has been classified as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. Key players: Some of the key players operating in the global ink resins market are Lawter (US), BASF SE (Germany), Royal DSM NV (Netherlands), DowDuPont Inc (US), Evonik Industries AG (Germany), Hydrite Chemical (US), Arizona Chemical Company, LLC (US), Arakawa Chemical Industries, Ltd (Japan), Indulor Chemie GmbH (Germany), IGM Resins, Inc. (The Netherlands), KRATON CORPORATION (US), and US-Polymers-Accurez LLC (US). Target Audience:
|Market Size||2030 : Significant Value|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Type, by Printing Process, by Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Lawter (US), BASF SE (Germany), Royal DSM NV (Netherlands), DowDuPont Inc (US), Evonik Industries AG (Germany), Hydrite Chemical (US), Arizona Chemical Company, LLC (US), Arakawa Chemical Industries, Ltd (Japan), Indulor Chemie GmbH (Germany), IGM Resins, Inc. (The Netherlands), KRATON CORPORATION (US), and US-Polymers-Accurez LLC (US)|
|Key Market Opportunities||In coming years, the Middle East & Africa region is set to grow at considerable CGAR on account of the huge growth opportunities offered by tourism industry.|
|Key Market Drivers||The ink resins market is majorly driven owing to some of the major market factors and trends in the market.|
Fluctuating crude oil prices, the investment needed for the latest technologies, and shift in traditional markets can deter the growth of the market.
The Asia Pacific ink resins market would dominate.
The ink resin market report has lithographic, flexographic, gravure, letterpress, and digital printing processes.
The ink resins market has printing & publication, flexible packaging, corrugated boards, and others.
The types included in the ink resin market are acrylic, modified resin, polyamide, cellulose, hydrocarbon, polyurethane, and others.