Ink Resin Market

Ink Resins Market Size | Growth (2023-2028)

The ink resins market was worth US$ 3.2 billion in 2022, and it is estimated to reach a valuation of US$ 7.5 billion by the end of 2028, expanding at a CAGR of 6.11% during 2023-2028

Ink resins are used to produce inks to escalate pigment adhesion properties, control viscosity, increase the gloss in enhancing pigment wetting, rising solid content, and many more. Resins are utilized depending on the system on which printing needs to take place and also the type of ink technology. Ink resins are utilized for manufacturing printing inks. Ink resins comprise various characteristics including good surface appearance, gloss, flow, stability, dilatability, and solvency. Among all the critical components, ink resins are majorly used to produce ink apart from additives, pigments, and solvents. Therefore, the dispersion of pigment and prevention of re-agglomeration were the most salient functions of ink resins. 

Ink Resins Market Trends:

Several end-users use ink resins for sheet-fed printing, inkjet, lithographic and flexographic. Due to this usage, there is a rapid increase in demand for printing inks by various firms which acts as one of the trends of the ink resins market.

Ink Resins Market Drivers:

The rising demand for flexible packaging, promotion, corrugated cardboard, folding cartons, and some more application drives the growth of the market in the next six years. Furthermore, the major factor, in order to impress the customers, is the color, design, and appearance, which is anticipated the fuel the ink resins market growth. Additionally, the increasing demand for online purchases in various countries fuels market growth. Whereas paper bags & invoices, and labels are used for packaging, growing demand for packaging food & beverages also boosts the growth of the ink resins market. Moreover, the development of eco-friendly ink resins is estimated to have more market avenues during the forecast period.

Ink Resins Market Restraints:

Increasing prices of petrochemical ink resin feedstock and also switching from traditional to internet shopping may hinder the growth of the ink resins market during the forecast period.

Opportunities in the Ink Resins Market:

The rapid increase in the flexible and corrugated packaging sectors, increasing usage of non-reactive DAB polyamide resins, rising flexographic printing firms, and increasing prices of advanced and improved properties are the prominent factors that drive the ink resins market growth during the forecast period.  

Challenges in the Ink Resins Market:

Major fluctuations in petroleum prices, switching from the traditional way of shopping to online purchasing, and price intensive nature of new technologies act as major challenges for the ink resins market.

INK RESINS MARKET REPORT COVERAGE:

Ink Resins Market Segmentation:

By Type:

• Hydrocarbons
• Cellulose
• Polyamide
• Modified Rosins
• Polyurethane
• Acrylic
• Others 

The modified rosin type is estimated to have a dominant share in the ink resins market. It is due to its low prices and availability in the market.

 By Technology:

• Oil

• Water

• U.V.

• Solvent

• Others 

In the technology segment, solvent-based printing inks hold the largest market share since these include pigment and resin that were coupled with ink dissolved using a solvent. The two distinct technologies of solvent-based printing include gravure print and flexo print which boosts the segment capable of holding the largest market share in the next foreseen period.

By Application:

• Flexible packaging 

• Corrugated cardboards 

• Printing & Publication

Besides these segments, printing & publication applications tend to augment the largest market share in print media, and on the other hand, flexible packaging is estimated to witness a high growth rate because of its increasing demand for packaging due to online purchasing during the forecast period.

Ink Resins Regional Analysis:

 The Ink Resins Report includes the segmentation of Region:

•  North America 

•  Europe 

•  Asia Pacific 

•  Latin America 

•  Middle East & Africa 

The Asia Pacific has become the largest region for printing inks across the globe, in which the Asia Pacific tends to dominate the market during the forecast period. It is owing to the huge demand for ink resins in the packaging industry. In APAC, China dominates the ink resin market due to the increase in population and dominance of packaging firms in this region. Japan and India have become the major producers of ink. Additionally, APAC is also estimated to have a high volume in the market. At the same time, North America aid to witness stable growth rates during the forecast period, and Europe is estimated to have a significant CAGR, respectively. Despite this, Middle East & Africa are focusing on increasing the demand for ink resins due to rapid industrialization and are yet to continue the demand in the next six years.

Impact of COVID-19 on the Ink Resins Market:

Covid-19 (novel Corona Virus Disease), which outbreak in early 2020, has turned into a global pandemic crisis with 15 million population getting infected and has already created the loss of over 600 thousand deaths at the global level. It is owing to the increased emphasis on preventing the spread of covid-19 and considering the transmission measures to prevent the movement and interactions between humans and also to prevent the spread of the disease. Unfortunately, this is adversely impacted a wide range of industries and created shutdown of businesses due to less or zero returns or investments. These industries are likely to take a longer time than expected to cover. The ink resins market will have significant growth during 2022 - 2027 due to increasing demand for green-resins technology.

Ink Resins Market Key Players:

The companies covered in the report include:

• Arakawa Chemical

• Arizona Chemical 

• BASF SE

• Evonik Tego Chemie GmbH

• Hydrite Chemical 

• IGM Resins 

• Indoor 

• Lawter B.V. 

• Royal DSM N.V. 

• AkzoNobel NV

• The Dow Chemical Company