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Ink Resin Market Poised for 0.122480670269193 % Growth, Set to Hit $95.13 Billion by 2029
Ink Resin Market Growth
The ink resins market is anticipated to expand due to an increase in consumer spending and a surge in online shopping. Online shopping, which refers to the electronic commerce that allows customers to immediately order goods or services from sellers via a computer browser, is driving this growth. Most e-commerce businesses view excellent packaging as a valuable investment to safeguard the goods from shipping damages, reducing return rates from customers. Inks used in flexible packaging enhance the visual appeal and ensure the maintenance of image quality throughout manufacturing, packaging, shipping, and usage phases of the product. For instance, the European Commission, a governing body based in Belgium, stated in April 2024 that out of the individuals aged 16-74 surveyed, 92% used the internet in the past year with 70% making online purchases, a 2% increase from 2022. Furthermore, it was noted that 75% of EU internet users made online purchases in 2023, underscoring the robust growth of e-commerce. Adding to this, the United States is expected to have 266.7 million digital buyers by 2022. Hence, the escalation in consumer spending coupled with the rise of online shopping trends is contributing significantly to the growth of the ink resins market.
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What is the future CAGR of the ink resin market, and how will it impact industry expansion?
The scale of the ink resin market has seen significant expansion in the last few years. The projected growth is from $4.56 billion in 2024 to $5.05 billion in 2025 at a compound annual growth rate (CAGR) of 10.8%. This ongoing growth during the historic period is primarily due to the progress in the printing industry, augmented demand in the packaging industry, escalation in environmental regulations, widening of inkjet printing and an upsurge in demand in the flexographic printing field.
The market size of ink resins is forecasted to experience significant expansion in the coming years, escalating to a value of $8.01 billion by 2029 with a compound annual growth rate (CAGR) of 12.2%. This projected growth within the forecast period can be credited to multiple factors such as evolving regulatory environments, increase in e-commerce packaging demand, expansion of healthcare and pharmaceutical packaging sectors, and a surge in specialty inks usage including the adoption of 3D printed inks. The forecast period is also expected to witness major trends such as the use of water-based ink resins, uv-curable inks, low-voc compositions, hybrid ink technologies, and bio-based resins.
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What are the most significant trends transforming the ink resin market today?
Product innovation is emerging as a notable trend in the ink resins industry. Market leaders are continuously introducing novel products, such as enhancements in 3D printing, and new technologies like inkjet and offset, to maintain their market position. Take, for example, ALTANA, a German firm that develops and manufactures high-quality specialty chemical products. They announced in March 2022 that they will expand their existing Cubic Ink 3D printing materials range with additional high-performance resins. Under this category, the two new series of resin-based Cubic Ink 3D printing materials - 'High Performance' and 'Prototyping - deliver great flexibility, toughness, and heat resistance. These Cubic Ink printing products merge attributes suitable for final parts use with features that support process-friendly usage, such as low viscosity and resin steadiness.
Which key market segments comprise the ink resin market and drive its revenue growth?
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
Subsegments:
1) By Modified Rosin: Hydrogenated Modified Rosin, Esterified Modified Rosin
2) By Hydrocarbon: Aliphatic Hydrocarbon Resins, Aromatic Hydrocarbon Resins, Cycloaliphatic Hydrocarbon Resins
3) By Modified Cellulose: Cellulose Acetate, Ethylcellulose, Hydroxypropyl Cellulose
4) By Acrylic: Acrylic Copolymer Resins, Water-Based Acrylic Resins, Solvent-Based Acrylic Resins
5) By Polyamide: Aliphatic Polyamide Resins, Aromatic Polyamide Resins
6) By Polyurethane: Thermoplastic Polyurethane (TPU), Thermosetting Polyurethane
7) By Other Resin Types: Silicone Resins, Phenolic Resins, Epoxy Resins
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What regions are at the forefront of ink resin market expansion?
Asia-Pacific was the largest region in the ink resins market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ink resin market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the ink resin market?
Major companies operating in the ink resin market include Lawter Inc., Evonik Industries AG, Kraton Corporation, Arakawa Chemical Industries Ltd., Arizona Chemical, DIC Corporation, Flint Group, Kimix Chemical Co. Ltd., Royal Dutch Shell, Sun Chemical, Hubergroup, PolyOne Corporation, Siegwerk Druckfarben AG & Co. KGaA, ALTANA AG, Nippon Carbide Industries, Zeller+Gmelin Corporation, Hydrite Chemical Co., Rahn AG, SICPA Holding SA, Fuzion Technologies Inc., Rütgers Organics GmbH, Eternal Materials Co. Ltd., IMERYS S.A., Technovinyl Polymers India Ltd
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What Is Covered In The Ink Resin Global Market Report?
•Market Size Forecast: Examine the ink resin market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the ink resin market for a structured understanding.
•Key Players Overview: Analyze major players in the ink resin market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ink resin market.
•Segment Contributions: Evaluate how different segments drive overall growth in the ink resin market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ink resin market.
•Industry Challenges: Identify potential risks and obstacles affecting the ink resin market.
•Competitive Landscape: Review strategic developments in the ink resin market, including expansions, agreements, and new product launches.
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