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Ink Resins Market 2019 | Technology, Applications, Growth and Region Forecast 2023
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Growing demand of the Ink Resin from major end users is the primary factor driving growth of the market. The Global Printing Ink Market for packaging is estimated to grow at CAGR of 6% due to rising global demand for label packaging providing nutritive and product information. Apart from this, 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 income and standard of living of the people, particularly in the developing countries, the consumer sentiment is shifting toward the use of packaged food, beverages and other retail products. This development in the major end users of ink resin is projected to fuel its 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 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.
Resins are one the major components of inks such as solvent, additive and pigments. Ink Resins are majorly used to manufacture printing inks. The Resin offers some important features to the ink including dispersion of the pigments and prevention of its re-agglomeration. The resin acts as a pigment binder which provide quick and long-lasting adhesion to the particular substrate. In addition to this, the resin also provides the required viscosity or flow to the ink which facilitates easy transfer of ink from press to substrate. Moreover, the resin adds to the luster, drying speed and resistance properties of an ink. The Global Printing Ink Market for packaging has been estimated to register a CAGR of 6% owing to the rising global demand for label packaging, which provides nutritive and product information. The color, design and appearance of the ink print acts a decisive factor when it comes to allure the customers. This is projected boost demand for the Ink Resin in the coming years. Moreover, increasing demand for flexible packaging, folding cartons, corrugated cardboard, promotion, and other applications will be the key influencing factors for the Global Ink Resins Market. However, there are some factors that hamper growth of the market such as the fluctuations in the crude oil prices, cost intensive nature of new technologies and shift from traditional to digital market.
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The prominent players operating in the Global Ink Resins Market are Lawter (The U.S.), BASF SE (Germany), Royal Dsm N.V. (The Netherlands), DowDuPont (The U.S.), Evonik Industries AG (Germany), Hydrite Chemical (The U.S.), Arizona Chemical Company, LLC. (The U.S.), Arakawa Chemical Industries,Ltd. (Japan), Indulor Chemie Gmbh (Germany), and IGM Resins, Inc. (The Netherlands), among others.
The Global Ink Resins Market is segmented into Type, Application and Region.
On the Basis of Type, the market is divided into modified resin, acrylic, cellulose, polyamide, polyurethane, hydrocarbon, and others.
Based on Application, the Global Ink Resins Market is categorized into printing & publication, corrugated boards, flexible packaging, and others.
By Printing Process, the market is classified into lithographic, flexographic, gravure, letterpress, and digital printing process.
Geographically, the market is divided into five key regions, including Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
There are five major regions in which the Global Ink Resins Market is divided into: Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Asia Pacific is set to dominate the market. It held over 40% share of the market, as of 2016. The region is anticipated to remain dominant in both production and demand of Ink Resins. Growing consumer awareness and favoring regulatory trends in this region are driving growth of the market during the forecast period. India, Japan, and China are the leading markets in this region. North America is holding the second major share of the market. The U.S is anticipated to hold the largest share in this market owing to the presence of some leading market players and substantial end users such as foods & beverages and packaging industry. Europe is following North America in terms of market size, with Germany, the U.K and France holding considerable share of the market. This region is witnessing a growth due to some strategic initiatives on part of regulatory agencies. The Middle East & Africa is a swiftly growing market where the growth is driven by the demand from foods & beverages and tourism industry. Latin America is anticipated to witness a rise in the regional market due to the pacifying political and reviving economic situation.
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