Ink Resins Market Overview to 2023
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 particular substrate. Apart from this, the resin also provides viscosity or a required flow to the ink which is basically required for transfer of ink from press to substrate. Additionally, the resin contributes to the gloss, drying speed and resistance properties of an ink. The Resin Ink find its applications in flexible packaging, paperboard and cartons, and printing & publication among others.
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Global Key Players:
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.
- Ink Resins Manufacturers
- Traders and Distributors of Ink Resins
- Research and Development Institutes
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratory
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.
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.
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The Global Ink Resins Market is spanned across the five key regions: Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific is the fastest growing market among them, 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 rising applications. North America is the second largest market in the Global Ink Resins Market after Asia Pacific. The U.S 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 U.K, France, Germany and Switzerland. Yet, 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.