Ink Resin Market by Resin Type (Modified Rosin, Hydrocarbon, Modified Cellulose, Acrylic, Others), Technology (Oil-Based, Solvent-Based, Water-Based, UV-Curable), Application (Printing & Publication, Flexible Packaging, Corrugated Cardboards & Cartons, Others): Global Market Size Estimates and Forecast (2022-2030)
The market crossed US$ 3.5 billion mark in 2022 and is expected to hit US$ 4.7 billion by 2030, recording a CAGR of 3.6% during the forecast period.
The well-established supply chain for ink resins
Resins provide essential characteristics to ink formulations. Ink resins have properties such as glossy finishes and adhesion. Ink resins highly rely on benzene, toluene, ethylene and propylene. IPDI (isophorone diisocyanate) and IPDA (isophorone diamine) are available, which are crucial for the high-end polyurethane resin market. The availability of acrylates is expected to remain steady, albeit subject to seasonal and competing demand in paints and coatings, adhesives, and construction applications. Resin raw materials are available, although costs continue to be susceptible to the volatility of feedstock costs or interim supply-demand imbalances. Though raw material supply has developed worldwide, the pricing has not decreased. The printing & publication segment has a huge demand due to the emerging 3d printing industry. Further, other segments such as flexible packaging, corrugated cardboards & cartons are also expected to gain traction during the forecasted year.
Within the report, the market is segmented into resin type, technology, application, and geography. By resin type, the market is further segmented into modified rosin, hydrocarbon, modified cellulose, acrylic, and others. On the basis of technology, the market is segmented into oil-based, solvent-based, water-based, and UV-curable. By application, the market is categorized into printing & publication, flexible packaging, corrugated cardboards & cartons, and others. Geographically, the market is subsegmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Growth of packaging and energy-curable inks
The ink resins market has witnessed significant growth owing to the growth of packaging and energy-curable inks. Moreover, environmental protection legislation is known to boost the ink resins market in the coming years. The Eb curing picking up interest among food packagers provides a vast market opportunity for the key players in the ink resins market.
The growing packaging industry anticipates an opportunity for the ink resin market
The packaging sector offers manufacturers and global packaging converters opportunities to expand their product portfolio. Growth of the printing ink industry is witnessing lucrative growth for the ink resin market. It proliferates in industrial segments such as comprehensive format signage and personal use throughout the region. The packaging segment is growing at the highest rate and is sustainable. It also has the shortest life cycle and therefore requires constantly changing formulations. The labels, packaging, and corrugated sectors are growing significantly as companies use the technologies and capabilities available to export to nearby regions.
Recent strategic developments in the ink resin market
The ink resin market has undergone several significant developments, and a few of these have been mentioned below:
- In April 2021, Azelis and BASF announced a new distribution agreement in CASE Australia and New Zealand. The products are especially applicable in coatings, adhesives, sealants, and elastomers, and construction applications.
- In March 2021, Bodo Möller Chemie South Africa expanded the exclusive sales and distribution agreement with BASF South Africa (Pty) Ltd.
The resin ink market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Lawter, BASF SE, Covestro AG, DOW, and Evonik Industries AG are among the prominent players operating in the market.
Target audience for the report:
- Modified rosins manufacturers
- Hydrocarbons manufacturers
- Ink resin -related service providers
- Ink resin-related associations, organizations, forums, and alliances
- Government bodies, such as regulating authorities and policy makers
- Venture capitalists, private equity firms, and start-up companies
- Ink resin distributors and sales firms
- End users of ink resin
- Research institutes, organizations, and consulting companies
Scope of the report:
In this report, the market has been segmented on the basis of:
- Resin Type:
- Modified Rosin
- Modified Cellulose
- Printing & Publication
- Flexible Packaging
- Corrugated Cardboards & Cartons
- North America
- Asia Pacific (APAC)
- South & Central America
- Middle East & Africa
- Companies profiled
- BASF SE
- Covestro AG
- Evonik Industries AG
The List of Companies
- BASF SE
- Covestro AG
- Evonik Industries AG