The Ink Resin Market is experiencing significant growth globally, driven by the increasing demand for high-quality inks in the packaging, printing, and labeling industries.
Austin, Dec. 05, 2024 (GLOBE NEWSWIRE) — The
Ink Resin Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 3.6 billion |
| Market Size by 2032 | USD 5.3 billion |
| CAGR | CAGR of 4.1% by 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
|
Key Trends Fueling the Ink Resin Market
Growing Demand for High-Quality Inks in Packaging and Printing Applications
The rise in demand for ink resin from packaging, publishing, and labeling sectors for printed materials is significantly driving the growth of the market for ink resin. Print is relied on to help sell packaged products, especially food, and beverage, where ink resins are widely used as a print feature, making packaging one of the largest end-use markets for these materials. As the trend for bespoke and novel packaging designs surges, the demand for high-quality ink products charts toward growth driven by advanced resins that provide durability, and superior performance in terms of color and print.
In addition, improved printing technology has led to better repeatable ink formulations for use in digital printing processes. Thus, this increased the demand for resins with greater adhesion and gloss and short drying time for various printing methods including flexographic and gravure printing.
Rise in Demand for Eco-Friendly Resins
In response to growing environmental concerns, there is a rising shift towards the use of eco-friendly resins in the ink manufacturing process. Bio-based and water-based ink resins are gaining traction as industries focus on reducing their carbon footprint and adhering to stringent environmental regulations. These eco-friendly resins offer superior performance while reducing harmful emissions and toxicity associated with traditional solvent-based inks. Many government bodies, such as the U.S. Environmental Protection Agency (EPA) and the European Union, have implemented strict regulations on the use of hazardous chemicals in inks, fueling the demand for sustainable ink resins.
Stringent Regulations and the Need for Compliance
The ink resin industry is also influenced by the increasing number of regulatory requirements surrounding the use of harmful substances in inks and coatings. Governments worldwide are tightening regulations on ink composition to minimize the environmental and health risks associated with toxic chemicals. For example, the European Union’s Registration, Evaluation, Authorization, and Restriction of Chemicals (REACH) regulation has been instrumental in phasing out the use of certain hazardous substances in inks. These regulations are driving the market toward safer, non-toxic, and more sustainable resin solutions.
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Which Resin Type Segment Led the Market in 2023?
In 2023, the acrylic resin segment held the largest market share around 22% in 2023. Acrylic resins are widely used in various ink formulations due to their superior properties, such as fast-drying capabilities, excellent adhesion, and color retention. These resins are particularly favored in flexographic and offset printing applications, making them a primary choice for packaging, labels, and high-quality printed materials. Additionally, acrylic resins can be formulated to be water-based, further boosting their demand as industries shift toward eco-friendly solutions.
Which Technology Segment Held the Highest Market Share in 2023?
In 2023, water-based ink accounted for the highest market share of approximately 38%. Due to the sustainability trend & rise of interest in ecological products, water-based inks received broad acceptance. They’re particularly popular because, in general, they have relatively low amounts of volatile organic compounds (VOCs) compared to solvent-based or oil-based inks and are therefore more environmentally friendly. Water-based inks are commonly employed in applications like packaging, labels, and textiles, due to tougher environmental regulations & rising consumer desirability for greener options. Advances in high-performance resins with improved adhesion, gloss, and durability properties, permitting a wider array of coating processes including flexographic and gravure printing, are also fueling this transition to water-based technology.
In 2023, the Asia-Pacific region held the largest market share, accounting for approximately 56% of the global ink resin market.
The region’s dominance can be attributed to the rapid industrialization and growing demand for packaging materials in emerging economies such as China and India. Additionally, the expanding consumer goods industry, especially in food, beverage, and pharmaceutical packaging, has bolstered the demand for high-quality ink resins. The Asia-Pacific region is also witnessing an increase in manufacturing facilities for ink resins, with major companies establishing production units to cater to the growing regional demand. Furthermore, the region’s focus on sustainable production and growing regulatory pressures are also driving the shift toward eco-friendly resins in ink formulations.
Recent Developments in the Market
• In 2023, BASF launched a new line of bio-based resins for ink applications, offering enhanced color stability and faster curing times. These resins are designed to meet growing environmental concerns and offer improved print quality for packaging and labeling applications.
• In 2023, Dow announced the expansion of its production capacity for water-based resins, a move aimed at supporting the growing demand for sustainable and eco-friendly ink solutions. This expansion is expected to cater to the rising demand for packaging inks in North America and Europe.
• In 2023, Sun Chemical developed a new range of high-performance ink resins tailored for the digital printing sector. These resins offer improved print quality and adhesion properties, contributing to the growth of the digital printing market.
Conclusion
The Ink Resin Market is poised for continued growth, driven by the increasing demand for high-quality inks in packaging and printing applications, along with a growing emphasis on eco-friendly resins. Acrylic and other high-performance resins are playing a pivotal role in improving ink quality, ensuring compliance with stringent environmental regulations, and supporting sustainable production practices across various industries.
As companies continue to invest in research and development and innovate with sustainable resin technologies, the market is expected to witness robust growth. The rising demand for efficient, durable, and eco-friendly ink resins in packaging, publishing, and labeling will continue to shape the industry’s trajectory in the coming years. The alignment of the ink resin market with environmental sustainability and its essential role in meeting consumer demand for high-quality printed materials positions it as a critical segment within the broader chemicals and coatings market.
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2 Regions/Countries:
- North America (3 Countries)
- Europe (~15 Countries)
- Asia Pacific (~10 Countries)
- Latin America (~5 Countries)
- Middle East & Africa (~5 Countries) (Including Israel)
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