New York, United States, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The Global Ink Resin Market Size to grow from USD 4.6 Billion in 2023 to USD 5.9 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 2.52% during the forecast period.
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The ink resins market has been continuously expanding, and this trend appears to be continuing. The increasing need for high-quality printing in industries such as packaging, textiles, and publishing necessitates the development of new ink formulations. UV-curable resins and water-based resins, for example, are helping to drive market growth by offering improved performance, environmental benefits, and versatility. Furthermore, the growing packaging industry, driven by e-commerce and consumer goods, boosts demand for inks and, by extension, ink resins. As the importance of sustainability grows in many industries, there is a growing preference for eco-friendly and low-VOC (volatile organic compound) ink formulations, prompting manufacturers to invest in R&D to meet these shifting market expectations.
Ink Resin Market Value Chain Analysis
The value chain begins with raw material suppliers such as petrochemicals, monomers, and polymers. These components serve as the foundation for the production of ink resin. Chemical companies employ the raw materials to create ink resins through polymerization or other chemical processes. The base resins that will be turned into inks are generated at this stage. Ink makers or formulators blend base ink resins with diverse components such as pigments, solvents, additives, and crosslinking agents. This stage is crucial for tailoring the ink's properties to the needs of the application. After the ink formulations have been completed, they are packaged and distributed. Packaging may alter depending on the end-use, such as large containers for industrial use or smaller containers for commercial use. They may directly supply printing companies, packaging manufacturers, or other industries that require inks in their processes. The last stage incorporates a wide range of end-users from industries such as packaging, publishing, textiles, and others. The ink is used by these customers in their own processes, such as printing on packaging materials, textiles, or paper.
Ink Resin Market Opportunity Analysis
The introduction of new ink resin technology opens up new possibilities. UV-curable resin, water-based resin, and bio-based resin developments enable improved performance, lower environmental impact, and compliance with stringent regulations. The advancement of digital printing technology provides enormous opportunity for ink resin manufacturers. Specialised formulas of digital inks are commonly required, and customising ink resins to the specific needs of digital printing may open up new industries. The expanding packaging industry, powered by e-commerce and consumer goods, offers several opportunities. Ink resin manufacturers can adjust formulae to meet the specific needs of packaging applications, such as adhesion to various surfaces and resistance to external impacts like abrasion and moisture.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Ink Resin Market Size By Type (Modified Rosin, Hydrocarbon, Modified Cellulose, Acrylic, Polyamide, Polyurethane, Others), By Application (Flexible Packaging, Printing & Publication, Corrugated Cardboards & Cartons, Others), By Region, And Segment Forecasts, By Geographic Scope And Forecast to 2033."
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Insights by Type
The Modified Rosin segment accounted for the largest market share over the forecast period 2023 to 2033. To make modified rosin, natural resources, particularly pine trees, are used. The renewable and sustainable nature of rosin-based resins aligns with the growing demand in the ink industry for environmentally benign and bio-based alternatives. Modified rosin can be chemically altered to improve its performance. Because of this adaptability, formulators can tailor resin properties such as adhesion, flexibility, and compatibility to meet the demands of varied ink applications. Modified rosin resin ink formulations can help improve print quality by offering brilliant colours and higher gloss. This is especially true in applications where aesthetics and visual appeal are important.
Insights by Application
The printing & publication segment accounted for the largest market share over the forecast period 2023 to 2033. Despite information digitization, the printing and publishing industry remains in great demand, particularly for books, journals, newspapers, and promotional materials. Demand for ink resins to enable high-volume printing contributes to the segment's expansion. In the printing and publishing sectors, print quality, clarity, and colour vibrancy are all highly appreciated. Ink resins play an important role in attaining these quality standards, increasing demand for formulae with excellent colour reproduction and clear images. Offset printing, flexography, and gravure printing are examples of printing technologies featured in the printing and publication category. Ink resins that are versatile and compatible with various printing procedures are in high demand to meet the diverse needs of publishers and printers.
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Insights by Region
North America is anticipated to dominate the Ink Resin Market from 2023 to 2033. The region's market size is influenced by demand from several industries including as packaging, publishing, textiles, and others. The market is expected to grow steadily because to continuous advancements in ink resin technology. The packaging industry considerably adds to the need for ink resins in North America. With a strong industrial sector and consumer-driven markets in the region, high-quality printing on packaging materials is always in demand. The publishing industry is also significant, which includes commercial printing and newspapers. The region is a technological innovation hotbed, and the printing sector is no exception. Modern technologies such as UV-curable inks, water-based inks, and digital printing are changing the types of ink resins in demand.
Asia Pacific is witnessing the fastest market growth between 2023 to 2033. The market size in this region is substantial, reflecting the numerous and expanding industries that require printing and packaging materials. The region's rising economies contribute to increased demand for inks and ink resins. Rapid industrialization and urbanisation in countries such as China, India, and Southeast Asia is driving up demand for printed goods such as packaging, labels, and publications. As a result, there is an increase in demand for ink resins. Asia Pacific's booming packaging industry, driven by e-commerce, population expansion, and altering consumer preferences, is a major driver of ink resin demand. The adoption of current printing technologies such as digital printing and UV-curable inks is increasing throughout the Asia Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major Players in the Global Ink Resin Market Includes IGM Resins, Lawter B.V., Royal DSM N.V., The Dow Chemical Company, Indulor Chemie GmbH, Arakawa Chemical, Arizona Chemical, BASF SE, Evonik Tego Chemie GmbH, Hydrite Chemical and Other Key Vendors.
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Recent Market Developments
- In 2021, Bodo Moller Chemie South Africa expanded its exclusive resin and additive sales and distribution partnership with BASF.
Market Segmentation
This study forecasts revenue at global, regional, and country levels from 2023 to 2033.
Ink Resin Market, Type Analysis
- Modified Rosin
- Hydrocarbon
- Modified Cellulose
- Acrylic
- Polyamide
- Polyurethane
- Others
Ink Resin Market, Application Analysis
- Flexible Packaging
- Printing & Publication
- Corrugated Cardboards & Cartons
- Others
Ink Resin Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
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