Ink Resin Global Market Report 2024

Ink resins are materials, either in a solid or semi-solid state, that are utilized in the production of inks. They are mixed with additives, solvents, and pigments to create ink formulations. These resins play a crucial role in printing inks by controlling viscosity, enhancing pigment wetting, and improving pigment adhesion properties. They serve as binders in ink vehicles, aiding in the adhesion of ink pigments to the substrate.

The primary categories of ink resins include modified rosin, hydrocarbon, modified cellulose, acrylic, polyamide, polyurethane, and other specialized resin types. Modified rosin refers to a resin that has undergone alteration processes other than esterification, hydrogenation, or dimerization. Various technologies are employed in ink resin production, including oil-based, solvent-based, water-based, and UV-curable-based methods. These resins are utilized in different printing processes such as lithography, gravure, flexography, and other specialized printing techniques. They find application in diverse sectors including printing and publication, flexible packaging, corrugated cardboard and cartons, as well as various other applications.

The ink resins market research report is one of a series of new reports that provides ink resins market statistics, including ink resins industry global market size, regional shares, competitors with a ink resins market share, detailed ink resins market segments, market trends and opportunities, and any further data you may need to thrive in the ink resins industry. This ink resins market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

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 observed in the historical period can be attributed to several factors. These include the growth of the printing industry, an increased demand in the packaging sector, a rise in environmental regulations driving the adoption of eco-friendly inks, the expansion of inkjet printing technology, and an increased demand in the flexographic printing sector. These factors collectively contributed to the growth of the ink resin industry during that period.

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 projected growth in the forecast period can be attributed to several key factors. These include increasing regulatory changes in the industry, a rising demand for e-commerce packaging solutions, the growing prominence of the healthcare and pharmaceutical packaging sectors, an increased use of specialty inks, and the adoption of 3D printing inks in various applications. The significant trends expected in the forecast period encompass the use of water-based ink resins, the adoption of UV-curable inks, the development of low-VOC formulations for reduced environmental impact, the integration of hybrid ink technologies, and a shift towards bio-based resin materials. These trends are anticipated to shape the future of the ink resin industry.

The ink resins market is poised for growth, driven by an upswing in consumer spending and the surge in online shopping. Online shopping, a form of electronic commerce facilitating direct transactions between buyers and sellers through web browsers, often necessitates high-quality packaging to safeguard products during transit and reduce return rates. Ink resins, especially those used in flexible packaging, enhance visual appeal and maintain image quality throughout production, packaging, shipping, and usage. For instance, as of June 2021, the global count of digital consumers reached 2.14 billion, accounting for 27.6% of the world's population of 7.74 billion. This marked a 4.4% year-over-year increase, with an additional 900 million digital consumers in 2021. Furthermore, an estimated 266.7 million digital buyers were projected in the United States for 2022. Hence, the surge in consumer spending and online shopping is a significant driver for the ink resins market.

The escalating demand for wood is set to further boost the ink resins market. Wood, a versatile natural material forming the structural tissue of trees and woody plants, finds extensive application in various industries. Ink resins play a crucial role in wood coatings by enhancing adhesion, forming protective layers, and imparting resistance to wear, moisture, and UV exposure. For instance, in December 2022, Finland reported a total round wood usage of 85.2 million cubic meters in 2021, reflecting a 9% increase from the previous year. Additionally, the utilization of by-products and other wood waste rose by 17% compared to the preceding year, reaching 27.7 million cubic meters. This heightened demand for wood underscores its role in driving the growth of the ink resins market.

The prominent trend in the ink resins market is the pursuit of product innovation. Major market players are actively engaged in developing cutting-edge products, including advancements in 3D printing and the introduction of new printing technologies like inkjet and offset, aimed at solidifying their market position. For instance, in March 2022, ALTANA introduced new high-performance resins as extensions to its existing Cubic Ink 3D printing material lines. These 'High Performance' and 'Prototyping' series offer superior flexibility, toughness, and heat resistance. The Cubic Ink materials combine attributes that enable them to serve as final components while also exhibiting process-friendly features like low viscosity and resin stability.

Leading companies in the ink resins market are focusing on product innovation, exemplified by offerings such as the SureColor-R5030 and SureColor-R5030 printers, which utilize 6-color resin inks for high-quality prints. For instance, in February 2021, Seiko Epson Corporation launched the SureColor-R5030 and SureColor-R5030 printers, which employ resin inks to deliver exceptional print quality, with enhanced color reproduction and consistency across various applications and media types.

In July 2022, DIC Corporation, a Japanese chemicals corporation, acquired Guangdong TOD New Materials Co., Ltd., a Chinese coating resins manufacturer and ink resins provider, in a strategic move to expand its coating resins capacity in the Asian market and tap into the customer base in China. This acquisition aims to bolster DIC Corporation's presence and capabilities in the region.

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, Ercros S.A., Zeller+Gmelin Corporation, Hydrite Chemical Co., Rahn AG, Aal Chem, SICPA Holding SA, Fuzion Technologies Inc., Rütgers Organics GmbH, Eternal Materials Co. Ltd., IMERYS S.A., Technovinyl Polymers India Ltd., Aapico Hitech Public Company Limited

Asia-Pacific was the largest region in the ink resins market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in ink resins market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the ink resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The ink resins market consists of sales of ink resins used in ink vehicles as a printing ink binder to aid ink pigment adhesion to the substrate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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