The Ink Resin Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ink Resin Global Market Report 2024, The ink resin market size has grown rapidly in recent years. It will grow from $4.13 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to printing industry growth, increased demand in the packaging industry, rise in environmental regulations, expansion of inkjet printing, increased demand in flexographic printing sector.
The ink resin market size is expected to see rapid growth in the next few years. It will grow to $7.05 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to increasing regulatory changes, rising demand for e-commerce packaging, growing healthcare and pharmaceutical packaging sectors, rising specialty inks use, adoption of 3d printing inks. Major trends in the forecast period include water-based ink resins, uv-curable inks, low-voc formulations, hybrid ink technologies, bio-based resins:.
An increase in consumer spending and online shopping is expected to propel the growth of the ink resins market going forward. Online shopping is a type of electronic commerce that enables customers to place direct orders for goods or services from sellers using a computer browser. High-quality packaging is seen as an additional expenditure by the majority of e-commerce enterprises since it protects the item from damage during shipping, lowering the likelihood that buyers will return it. Flexible packaging inks improve the graphic appearance and help the package work better by maintaining the quality of the pictures during the product’s production, packaging, transportation, and use. For instance, in June 2021, according to an article published by Oberlo, a Germany-based online store where business owners can look for and purchase products to sell, the number of digital purchasers accounted for 2.14 billion in 2021. That amounts to 27.6% of the 7.74 billion people in the world. Digital consumers increased by 900 million more people in 2021, or 4.4%, year over year. Furthermore, in 2022, the number of digital buyers is expected to be 266.7 million in the United States. Therefore, the increase in consumer spending and online shopping is driving the growth of the ink resins market.
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The ink resin market covered in this report is segmented –
1) By Resin Type: Modified Rosin, Hydrocarbon, Modified Cellulose, Acrylic, Polyamide, Polyurethane, Other Resin Types,
2) By Technology: Oil-Based, Solvent-Based, Water-Based, UV-curable-Based,
3) By Printing Process: Lithography, Gravure, Flexography, Other Printing Processes,
4) By Application: Printing And Publication, Flexible Packaging, Corrugated Cardboard And Cartons, Other Applications,
Product innovations are the key trend gaining popularity in the ink resins market. Major companies operating in the market are developing innovative products such as improvements in 3D printing, and the introduction of new technologies such as inkjet, offset, and others to sustain their position in the market. For instance, in March 2022, ALTANA, a Germany-based developer and manufacturer of high-quality, innovative specialty chemical products, is adding new high-performance resins to its already released Cubic Ink 3D printing material families. In this material category, the two new resin-based Cubic Ink 3D printing material series ‘High Performance’ and ‘Prototyping’ provide high levels of flexibility, toughness, and heat resistance. The Cubic Ink printing materials combine properties that allow them to be used as final components with properties that are process-friendly, like low viscosity and resin stability.
The ink resin market report table of contents includes:
1. Executive Summary
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