Ink Resins Market by Application, Process, and Geography - Forecast and Analysis 2021-2025

“The Ink Resins Market study is a comprehensive report with in-depth qualitative and quantitative research evaluating the current scenario and analyzing the growth of USD 1.03 billion and CAGR of 5.22% by segment Geography, Process, and Application during the forecast period 2020 to 2025” 

Furthermore, this report extensively covers market segmentation by process (lithography printing, flexography printing, gravure printing, and others) and geography (APAC, Europe, North America, MEA, and South America). The market report also offers information on several market vendors, including Allnex Netherlands BV, Arakawa Chemical Industries Co. Ltd., BASF SE, DIC Corp., Dow Inc., Evonik Industries AG, Harima Chemicals Group Inc., Hydrite Chemical Co., INDULOR Chemie GmbH, and Koninklijke DSM NV.

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Parent Market Analysis

Technavio categorizes the Ink Resins Market as a part of the Materials industry within the Chemicals industry. Our Technavio research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the forecast year.

Ink Resins Market: Key Drivers, Trends, and Challenges

The increasing demand for flexible packaging in China is notably driving the market growth, although factors such as adverse effects of the cost may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the ink resins industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Ink Resins Market Driver

Increasing demand for flexible packaging in China is one of the key factors driving the growth of the global market. The flexible packaging market in China has been growing consistently due to the increasing growth of the e-commerce sector in the country. The flexible packaging market in China is anticipated to grow during the forecast period. The major reason for the growth of this market in China is the increasing economic development in the country. The requirement for various products through e-commerce websites has propelled the use of flexible packaging in the country. Alibaba is one of the most successful e-commerce companies in China and the largest e-commerce company in the world, which meets the requirements of consumers, worldwide. The flexible packaging market in China has been driven by major e-commerce and packaging industries that use flexible packaging to pack delicate items such as glass, soft products such as idols made of plaster of Paris, and delicate materials such as medical glass equipment.

Key Ink Resins Market Trend

The growth of UV-cured resins in the production of 3D printing will fuel global market growth. The global printing ink market is growing at a CAGR of 4.92% and is expected to witness high demand during the forecast period. This rapid growth is due to the growth in the flexible packaging segment, along with other packaging materials. The growth of the printing ink market has become a major driving factor for manufacturers as they are exploring different and creative strategies to enhance the quality of packaging, thereby attracting end-users. The continuous advancements in the field of 3D printing have led to increased use of UV-curable resins in window graphics, banners, billboards, indoor signage, posters, and more. 3D systems, being a primary pioneer, produces a range of technologies, including fused deposition modelling (FDM), selective laser sintering (SLS), stereolithography, and multijet printing (MJP). Among these technologies, stereolithography is known for using UV curing extensively. Further, recent activities include the application of 3D systems for patents regarding radiation-curable compositions.

Key Ink Resins Market Challenge

Adverse effects of cost are the major challenge for global market growth. Recently, there has been a change in the geopolitical situation, which has led to an increase in trade barriers among certain countries. The recent political changes in the US and the UK are facilitating uncertainty in trade policies. The fluctuation of currency for many developing countries such as India and China, with respect to the US dollar, is affecting the global market. These factors will affect the market as manufacturers are changing their locations. Moreover, the market is affected because of the lack of pigment intermediates. The increase in the cost of sea freight has led to a reduction in supply and a reduction of available shipping routes. In addition, the dependence on countries such as China and India for major raw materials and intermediates has become a major concern. The bankruptcy of HANJIN SHIPPING, the largest container shipping bankruptcy in history, caused further pressure. Additionally, it is seen that the time of transfer on shipments from India and China has increased, although there is a decline in the number of routes and frequency. These factors are the major concerns according to the perception of the supply chain.

Ink Resins Market Value Chain Analysis

Our In-house experts produce extensive information on the value chain, and parent market of the ink resins market which vendors can leverage to gain a competitive advantage during the forecast period. The Value Chain information provides an end-end understanding of product insight and profit and also optimization and evaluation of business strategies The players across the value chain includes selective data and analysis from entire research findings as per the scope of the report.

Who are the Major Ink Resins Market Vendors?

Allnex Netherlands BV - The company offers 3D printing resins which are used in 3D printing additive manufacturing abundantly in the Allnex-wide portfolio of oligomers and monomers, these resins can help complete formulations needs. Through the unified segment, the company offers a wide range of chemical products, such as resins, additives, speciality coatings, and others, which are used in manufacturing paint and coatings, 3D printing materials, energy-curable materials, and others.

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

• Allnex Netherlands BV
• Arakawa Chemical Industries Co. Ltd.
• BASF SE
• DIC Corp.
• Dow Inc.
• Evonik Industries AG
• Harima Chemicals Group Inc.
• Hydrite Chemical Co.
• INDULOR Chemie GmbH
• Koninklijke DSM NV

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market. The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for the Ink Resins Market?

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51% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for ink resins in APAC. Market growth in this region will be faster than the growth of the market in regions.

APAC region is the largest and fastest-growing market for ink resins. This is mainly attributed to the rapid growth of the economy followed by the growing demand for online shopping and packaged food and beverages, which are eventually driving the growth of the printing inks industry. Countries such as China, Japan, and India are expected to lead the market in APAC. The market in the region is influenced by the expansion plans of ink manufacturing companies. The consumption of ink resins in the region is because of the growing demand for packaging products in industries such as e-commerce, logistics, and food and beverages. APAC is also expected to dominate the market in terms of volume owing to the increasing trend of online shopping and packaged food items. 

COVID Impact and Recovery Analysis

The market in the region witnessed certain challenges due to the COVID-19 pandemic in 2020. Print media is one of the sectors that witnessed huge losses during the pandemic in the region due to a decline in advertising revenues and the closure of printing plants. For instance, in India, Economic Times and Sandhya Times stopped publishing their Delhi editions due to the outbreak of the COVID-19 pandemic in 2020. Hence, these are some of the factors that may hinder the potential growth of the market in the region during the forecast period. However, the demand for printing operations increased with a significant rise in the e-commerce businesses, which supplemented the demand for ink resins for e-commerce packaging in the region. 

What are the Revenue-generating Geography Segments in the Ink Resins Market?

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The market share growth by the lithography printing segment will be significant during the forecast period. High-volume lithography is used to produce books, posters, newspapers, maps, and packaging papers. Oil-based resins such as petroleum hydrocarbon, rosin-based resin, and soybean oil are used in lithographic inks. The market is driven by the development of new variants of lithography-based printing solutions. For instance, in October 2019, Incus GmbH announced the launch of new lithography-based metal printing solutions. Modified rosin phenol with high molecular weight or hydrocarbon resins is used to provide the viscosity, flow, and transfer properties that are required for high-speed lithographic publication presses. Rosin with low molecular weight or hydrocarbon resins is used in lithographic news ink printing. The market is expected to grow because of its properties, such as superior print quality, productivity, and reduced waste.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Ink Resins Market Report?

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the ink resins industry across APAC, Europe, North America, MEA, South America, APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors

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