Ink Resins Market – Snapshot
Ink resins are materials that impart significant characteristics to printing inks. These characteristics include gloss, viscosity, improvement in pigment wetting, and strong pigment adhesion.
Growth of packaging industry driving the ink resins market
Packaging is an important aspect that influences consumers’ purchasing decisions. The packaging industry is a major customer of printing inks. The variety of packaging used for applications, such as food & beverages and flexible packaging, is estimated to boost the demand for ink resins in the next few years. Increased demand for printing inks in the global packaging industry is projected to drive the global ink resins market during the forecast period, as ink resins are employed in the manufacture of all types of printing inks. The global packaging industry is likely to expand at a rapid pace during the forecast period.
Increase in digitization hampering the ink resins market
The trend of e-books and e-commerce is growing at a rapid rate across the world and it is likely to hamper the global publication industry also. It has started restraining the paper-based publication. Prominent trends in e-commerce include e-books, event tickets, and hotel and airline reservations. These trends are anticipated to restrain the printing inks industry largely in the next few years. This, in turn, is anticipated to act as a restraint of the global ink resins market during the forecast period.
Opportunities for collaboration between printing ink manufacturers and ink resin manufacturers
Ink resins are available in several types such as modified rosin, polyamide, polyurethane, acrylic, and hydrocarbon resin. Different types of ink resins involve different advantages as well as disadvantages.
Ink resin manufacturers collaborate closely with printing ink manufacturers to understand the precise requirement of the latter and to manufacture ink resins accordingly. Such collaborations help printing ink manufacturers in developing printing inks for specific printing processes, such as lithography, flexography, gravure, and digital printing, or applications such as packaging, publishing, and commercial printing. Ink resin manufacturers stand to gain considerably by building close relations with printing ink manufacturers and providing customized ink resins.
Modified rosins are commonly used ink resins
Modified rosins are the most commonly used ink resins. Advantages of modified rosins driving their consumption include ease of availability, low price, and awareness about the product. A majority of the world’s gum rosin is manufactured in Brazil, Indonesia, and China. Gum rosin is used to manufacture modified rosin, which is an ink resin and used as a raw material in printing inks. Gum rosin is imported by most countries where ink resins are manufactured. However, development of other types of ink resins, such as acrylic and polyamide, has led to decreasing use of modified rosins.
Lithography segment consumes ink resins in large quantities
Printing inks required in the lithography printing process consume large amounts of ink resins. The lithography segment is expected to be driven by increased usage of the lithography printing process in various applications such as packaging, publishing, and commercial printing.
Flexography and gravure are expected to be relatively attractive printing process segments during the forecast period. However, the rate of adoption of digital printing has increased worldwide. The digital printing process segment is expected to be a major consumer of printing inks, and thereby, that of ink resins in the near future.
Solvent-based printing inks major consumers of ink resins
Solvent-based printing inks consume the maximum amount of ink resins and these inks are consumed the most. Solvent-based inks are preferred due to their easy availability and low price. However, their usage is likely to decline during the forecast period, due to rising consumer preference for eco-friendly printing inks such as UV-cured printing inks.
Packaging and commercial printing key application segments
Packaging is the most common application of printing inks. Packaging requires printing inks to denote information, such as logo and design, on it. The global packaging industry is projected to expand significantly and hence, consumption of ink resins in the industry is also expected to increase during the forecast period. Commercial printing consumes ink resins in large amounts, especially in industrial printing, including printing of instruction manuals and figures of associated machinery.
Asia Pacific a prominent consumer of ink resins
Asia Pacific is considered a manufacturing hub of the world. It produces printing inks in large quantities. It is also the world’s largest consumer of ink resins. Similarly, Europe is a major hub for printing ink companies and also, another major consumer of ink resins.
Moderately consolidated market
The global ink resins market is moderately consolidated, with a few multinational companies accounting for a significant share of the market. These companies have managed to develop several brands of ink resins. Key multinational companies operating in the global ink resins market are BASF Group, The Dow Chemicals Company, Altana AG, and Evonik Industries.
However, growth of the global ink resins market has slowed down over the last few years, due to increased efficiency of printing processes. These processes now require printing inks in lower amounts, which has resulted in sluggish growth of the global ink resins market.
Ink Resins Market – Overview
Ink resins can be defined as materials that impart important characteristics to printing inks. These characteristics primarily include color-carrying capabilities and color adhesion properties. Properties imparted by ink resins also include viscosity, strong pigment adhesion, high solid content, gloss, and improvement in pigment wetting.
This report analyzes and forecasts the ink resins market at the global and regional levels. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2019 to 2027, considering 2018 as the base year. The study includes drivers and restraints of the global ink resins market. It also covers anticipated impact of these drivers and restraints on the demand for ink resins during the forecast period. The report also highlights opportunities for the ink resins market at the global and regional levels.
The report includes detailed value chain analysis, which provides a comprehensive view of the global ink resins market. Porter’s five forces model for the ink resins market has also been included to help understand the competition landscape of the market. The study encompasses market attractiveness analysis, wherein type, printing process, printing ink, and application segments have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global ink resins market by segmenting it in terms of type, printing process, printing ink, application, and region. In terms of type, the market has been segmented into modified rosin, hydrocarbon resin, modified cellulose, acrylic, polyamide, and polyurethane. Based on printing process, the market has been segregated into flexography, lithography, gravure, digital, and others. In terms of printing ink, the market has been divided into water-based, solvent-based, UV-cured, and oil-based. In terms of application, the global ink resins market has been categorized into packaging, publishing, commercial printing, and others. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for ink resins in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of the global ink resins market for the base year 2018 and the forecast for the period between 2019 and 2027. Market numbers have been estimated based on type, printing process, printing ink, and application segments of the global ink resins market. Market size has been provided for the global, regional, and country-level markets.
The report comprises profiles of major companies operating in the global ink resins market. Key players operating in the global market are Lawter Inc., BASF SE, The Dow Chemicals Company, Evonik Industries, Flint Group, and DIC Corporation. Market players have been profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The global ink resins market has been segmented as follows:
Global Ink Resins Market, by Type
- Modified Rosins
- Hydrocarbon Resins
- Modified Cellulose
Global Ink Resins Market, by Printing Process
- Others (Including Screen Printing)
Global Ink Resins Market, by Printing Ink
Global Ink Resins Market, by Application
- Commercial Printing
- Others (Including Marketing Material)
Global Ink Resins Market, by Region
- North America
- Latin America
- Rest of Latin America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Ink resins can be defined as materials that impart important characteristics to printing inks. These characteristics include viscosity, strong pigment adhesion properties, high solid content, gloss, and improvement in pigment wetting.
- Modified rosin is the most commonly used type of ink resins. It is primarily used to impart color to printing inks and color adhesion properties to various surfaces.
- Printing inks required in the lithography printing process consume ink resins in large amounts
- Among printing inks, the solvent-based segment accounts for a major share of the global ink resins market, due to ease of use, low price, and ease of availability of solvent-based printing inks
- Packaging is the most common application of printing inks. The global packaging industry is expected to expand significantly during the forecast period. Thus, consumption of ink resins in the packaging segment is estimated to increase in the near future.
- Among regions, Asia Pacific is a leading consumer of ink resins. Large quantities of printing inks are manufactured in the region and ink resins are required in this manufacture.
- The global ink resins market is relatively consolidated. Multinational companies, such as BASF SE, The Dow Chemicals Company, Evonik Industries, and Lawter Inc., account for a major share of the global market.
- The global ink resins market is likely to expand at a sluggish pace during the forecast period, primarily due to increase in the efficiency of the printing process that has resulted in less requirement for printing inks