Ink Resins Market Growth 2022-2030
The global ink resins market is growing continually, mainly due to the huge consumption of printing ink in the flexible packaging, paperboard & cartons, and printing & publication applications. Also, the growing demand from major end-user industries such as printing press, commercial and industrial prints, and others drive a considerable share of the market. Moreover, the rising global demand for label packaging that can provide detailed information about the ingredients escalates the market growth to furthered height.
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According to Market Research Future (MRFR), the global ink resins market is estimated to grow at 6.5% CAGR during the anticipated period (2019 to 2025). The growth in on-the-go packaged food items acts as a key factor impacting the growth of the market positively. Additionally, aspects such as color, design, and appearance of the ink that become important to attract customers foster the market growth exponentially. The consumer shift toward the use of packaged food, beverages, and other retail products influence market growth.
Furthermore, factors such as substantial R&D funding to develop new products, advancements in the field of 3D printing, and the emergence of new technologies such as inkjet, offset, and others are anticipated to give a boost to the ink resin market in the coming years. On the flip side, price volatility and the demand-supply gap in raw materials required for the production of ink resins are expected to present challenges to the market growth.
Global Ink Resins Market - Segmentations
The analysis has been segmented into four main dynamics to widen the scope of understanding,
By Type : Modified Resin, Cellulose, Acrylic, Polyamide, Hydrocarbon, Polyurethane, and others.
By Printing Process: Flexographic, Lithographic, Gravure, Digital, Letterpress, and others.
By Application : Printing & Publication, Corrugated Boards, Flexible Packaging, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
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Global Ink Resins Market - Geographical Analysis
The Asia Pacific region dominates the global ink resins market. The largest market share attributes to the growing demand from the packaging industry and expanding production capacities in the region. Besides, factors such as the rising trend of on-the-go packaged food items & online shopping and the burgeoning eCommerce market in the region drive the market growth substantially.
The presence of dynamically emerging economies in the region such as India, Japan, China, Singapore, and South Korea impacts the regional market growth positively. India and China markets account for the major shareholders in this region, witnessing massive consumption of ink resins. APAC is estimated to retain its leading position in the global ink resins market throughout the assessment period.
North America stands second in the global ink resins market growth due to the spurting growth in the packaged food, other retail products, and growing F&B industry. Besides, the augmenting demand for heatset and sheetfed inks from the packaging & commercial printing industries drives the growth of the regional market significantly. The US is the leading market in the region, which is growing due to the rising eCommerce market. Additionally, substantial investments in the end-use industries drive regional market growth.
The ink resins market in Europe is observing a steady growth over the last couple of years. Major growth contributors to the regional market are countries such as the UK, France, Germany, and Switzerland. Stringent regulations imposed by the regional governments promoting the use of eco-friendly resins are encouraging the development of bio-based ink materials. Moreover, the increasing innovations and advances in manufacturing techniques foster a large share of the market.
Global Ink Resins Market – Competitive Landscape
Highly competitive, the ink resins market appears to be fragmented due to the presence of several large and small-scale players. To gain a significant competitive share in the market, players initiate strategies such as mergers & acquisitions, collaboration, and innovations. Manufacturers strive to deliver high quality and reliable products developed with innovative technologies and best industry practices.
They make substantial investments to drive R&D required for the new product and technology launch and to develop a cost-competitive product portfolio. For business expansion, they acquire small yet promising companies in the emerging markets, focusing on optimized situational awareness for customers. Rising strategic initiatives are changing the market structure by increasing the profit of the acquiring company and reducing market competition significantly.
Players leading the global ink resins market include Arakawa Chemical Industries, Ltd (Japan), BASF SE (Germany), DowDuPont Inc (US), Royal DSM NV (Netherlands), Hydrite Chemical (US), Evonik Industries AG (Germany), Lawter (US), Indulor Chemie GmbH (Germany), Arizona Chemical Company, LLC (US), IGM Resins, Inc. (The Netherlands), US-Polymers-Accurez LLC (US), and Kraton Corporation (US), among others.
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November 09, 2019 ---- Ingevity (the US), a specialty chemicals and materials manufacturer & supplier, launched its new environmentally friendly ink resin product line – AltaPrint. The new ink resin product line is developed using more renewable raw materials such as phenol and formaldehyde-free modified rosin resin. It is designed for use in heatset and sheetfed inks for the packaging & commercial printing markets. Now available globally, The AltaPrint family of products offers customers a more eco-friendly solution without sacrificing gloss and film hardness performance characteristics. Launching such an innovative product line, Ingevity has showcased its commitment to meet the industry’s evolving environmental trends and regulatory demands.
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