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Ink Resin Industry Expected to Reach $7.86 Billion by 2029 at 12% CAGR
Ink Resin
Ink Resin Market Value Projection: How Much Will the Market Size by 2025?
The market for ink resin has seen substantial growth in the past few years. The market size, which stood at $4.56 billion in 2024, is predicted to reach $5 billion in 2025, with a CAGR of 9.8%. This growth trend in the past can be linked to factors such as the expansion of the printing industry, heightened demand from the packaging sector, stricter environmental regulations, the growth of inkjet printing, and a surge in demand within the flexographic printing sector.
What Will Be the Market Growth Forecat for Ink Resin in 2029?
The market size of ink resin is projected to experience a significant surge in the coming years, reaching a valuation of $7.86 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 12.0%. Factors contributing to this projected growth during the forecast period encompass changing regulatory frameworks, increasing demand in e-commerce packaging, expansion of healthcare and pharmaceutical packaging industries, enhanced usage of specialty inks, and the uptake of 3D printing inks. Key trends during this outlook period will include water-based ink resins, UV-curable inks, low -VOC formulations, hybrid ink technologies, and bio-based resins.
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What Are the Core Competitive Drivers in the Ink Resin Industry?
The surge in consumer expenditure and digital shopping is set to fuel the expansion of the ink resins market. Digital shopping facilitates direct placement of orders for products and services from sellers via a computer browser, a subset of e-commerce. A significant amount of online businesses consider robust packaging as an extra cost because it can protect the product from damage during transit, thus reducing the chances of customer returns. The use of flexible packaging inks enhances the visual appeal and usability of the packing, maintaining image quality throughout production, packaging, distribution, and end-use. As per the April 2024 survey by the European Commission, a governing body based in Belgium responsible for enforcing EU treaties and decisions, it was found that of the respondents between 16 and 74 years old, 92% had used the internet in the past year and 70% had made online purchases, showing a 2% increase from 2022 data. Also noteworthy is that, in 2023, 75% of EU internet users engaged in online shopping, underlining the consistent growth of e-commerce. Moreover, the United States anticipates having 266.7 million digital buyers in 2022. Hence, the rise in consumer expenditure and digital shopping is contributing to the expansion of the ink resins market.
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Which Ink Resin Market Segment Is Projected to See the Fastest 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
Which Trends Are Opening New Opportunities in the Ink Resin Market?
The predominant trend in the ink resins market is product innovation. To retain their market position, major companies are embracing new technologies and improvements like offset, inkjet, and advancements in 3D printing. For example, ALTANA, a Germany-based specialty chemical product manufacturer and developer, in March 2022, expanded its existing product range of Cubic Ink 3D printing materials by introducing new high-performance resins. The newly introduced 'High Performance' and 'Prototyping' resin-based Cubic Ink 3D printing materials from this category offer resilience, heat resistance, and immense flexibility. These Cubic Ink printing materials possess features that make them suitable for use as final components while also being process-friendly due to their low viscosity and resin stability.
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Who Are the Leaders 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
Which Regional Ink Resin Markets Offer the Greatest Growth Potential?
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.
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