Market Overview:
Resins are one the major components of inks such as solvent, additive and pigments. Ink Resins are majorly used to manufacture printing inks. The Resin offers some important features to the ink including dispersion of the pigments and prevention of its re-agglomeration. The resin acts as a pigment binder which provide quick and long-lasting adhesion to the particular substrate. In addition to this, the resin also provides the required viscosity or flow to the ink which facilitates easy transfer of ink from press to substrate. Moreover, the resin adds to the luster, drying speed and resistance properties of an ink. The Global Printing Ink Market for packaging has been estimated to register a CAGR of 6% owing to the rising global demand for label packaging, which provides nutritive and product information. The color, design and appearance of the ink print acts a decisive factor when it comes to allure the customers. This is projected boost demand for the Ink Resin in the coming years. Moreover, increasing demand for flexible packaging, folding cartons, corrugated cardboard, promotion, and other applications will be the key influencing factors for the Global Ink Resins Market. However, there are some factors that hamper growth of the market such as the fluctuations in the crude oil prices, cost intensive nature of new technologies and shift from traditional to digital market.
Competitive Analysis:
Key players 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.
Market Segmentation:
The Global Ink Resins Market is broadly segmented on the basis of product type, printing process, application, and region. Based on the type, the market is categorized into modified resin, acrylic, cellulose, polyamide, polyurethane, hydrocarbon, and others. Wherein, the modified resin segment is dominating the market due to the flexibility of application and operation offered by this type of ink resins, along with growing research in order to develop innovative polymer to meet ever increasing scope of applications in this market.
On the basis of printing process the market is divided into lithographic, flexographic, gravure, letterpress, and digital printing process. Lithographic printing process segment is holding major share of the market, which is mainly attributed to the cost effective nature of this technology.
By Application, the Global Ink Resins Market is classified into printing & publication, corrugated boards, flexible packaging, and others. Among these applications, printing & publication segment is growing the highest rate on account of growing demand of flexible packaging, surging trend of super market shopping and vast spread print media.
Regional Analysis:
There are five major regions in which the Global Ink Resins Market is divided into: Asia Pacific, Europe, North America, the Middle East & Africa, and Latin America. Asia Pacific is set to dominate the market. It held over 40% share of the market, as of 2016. The region is anticipated to remain dominant in both production and demand of Ink Resins. Growing consumer awareness and favoring regulatory trends in this region are driving growth of the market during the forecast period. India, Japan, and China are the leading markets in this region. North America is holding the second major share of the market. The U.S is anticipated to hold the largest share in this market owing to the presence of some leading market players and substantial end users such as foods & beverages and packaging industry. Europe is following North America in terms of market size, with Germany, the U.K and France holding considerable share of the market. This region is witnessing a growth due to some strategic initiatives on part of regulatory agencies. The Middle East & Africa is a swiftly growing market where the growth is driven by the demand from foods & beverages and tourism industry. Latin America is anticipated to witness a rise in the regional market due to the pacifying political and reviving economic situation.
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