Global Ink Resin Market Set For 11.4% Growth, Reaching $7.05 Billion By 2028

November 28, 2024 12:30 AM PST | By EIN Presswire

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Global Ink Resin Market Set For 11.4% Growth, Reaching $7.05 Billion By 2028 — Image source: EIN Presswire

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What is the Current Size and Growth Rate of the Ink Resin Market?

With its rapid growth in recent years, the ink resin market is estimated to expand from $4.13 billion in 2023 to $4.58 billion in 2024 at a compound annual growth rate CAGR of 11.1%. The prominent growth during the historic period was driven by the growth of the printing industry, the rising demand in the packaging industry, the expansion of environmental regulations, the proliferation of inkjet printing, and an increased demand in the flexographic printing sector.

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What is the Forecasted Growth of the Ink Resin Market?

Over the next few years, the ink resin market is expected to see significant growth, rising to $7.05 billion in 2028 at a compound annual growth rate CAGR of 11.4%. This growth during the forecast period can be attributed to increasing regulatory changes, the rising demand for e-commerce packaging, growing sectors in healthcare and pharmaceutical packaging, increasing use of specialty inks, and the adoption of 3D printing inks.

What are the Key Driving Factors and Trends in the Ink Resin Market?

An increase in consumer spending and online shopping is expected to be a strong growth driver for the ink resins market. As a type of electronic commerce, online shopping presents customers with the opportunity to place direct orders for goods or services from sellers using a computer browser. High-quality packaging, recognized as an additional expenditure by the majority of e-commerce enterprises, is critical in protecting the item from damage during shipping, thus reducing the likelihood that buyers will return it. This is where flexible packaging inks play a vital role by enhancing graphic appearance and maintaining picture quality through the product's production, packaging, transportation, and use.

Which Companies are Key Players in the Ink Resin Market?

Major players 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.

What are the Emerging Trends in the Ink Resin Market?

Product innovation is a key trend gaining popularity in the ink resin market. To sustain their position in the market, major companies are focusing on developing innovative products, such as improvements in 3D printing, and the introduction of new technologies such as inkjet, offset, and others.

How is the Ink Resin Market Segmented?

The segments in the ink resin market covered in this report are:

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.

What are the Regional Insights of the Ink Resin Market?

Asia-Pacific was the largest and fastest-growing region in the ink resin market in 2023, with other regions covered in the report including Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Access the full report for a detailed analysis of the ink resin market: Report Linkhttps://www.thebusinessresearchcompany.com/report/ink-resin-global-market-report
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