Ink Resins Market - By Resin Type , By Ink Technology , By Printing Process , By Application , By Geography - Global Opportunity Analysis & Industry Forecast, 2024 - 2030

Ink Resins Market Overview

The Ink Resins Market Size is forecast to reach $ 4800 Million by 2030, at a CAGR of 4.10% during forecast period 2024-2030. Ink resins are the materials utilized as a printing ink binder, either solid or semi-solid, to assist the ink pigment in adhering to the substrate. Ink resins also address the ink qualities of hardness, gloss and adhesion. The growing water-based ink technology is driving the Ink Resins Market growth as it reduces environmental emissions and waste. The increasing requirement for ink resins in the packaging sector, due to their usage in printing inks, is anticipated to upsurge the growth of the ink resins industry during the forecast period. According to Invest India, the packaging is among the high-growth industries in India and develops by 25% per annum. Moreover, the surging demand for ink resins such as acrylic, polyurethane, polyamide, modified rosin and others in applications of corrugated boards, printing & publication and other sectors is further estimated to drive the demand for ink resins in the market. The global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in corrugated boards and printing & publication industries all across the world. This had a significant impact on the growth of the Ink Resins Market size.

Report Coverage

The “Ink Resins Market Report – Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Ink Resins Industry.

Key Takeaways

• The Asia-Pacific region dominates the Ink Resins Market due to the increasing investments in the packaging industry. In 2022, APRIL Group invested US$1.9 billion in a paperboard packaging mill to support Indonesia’s economic development.
• Rapidly rising demand for water-based ink technology for reducing environmental pollution has driven the growth of the Ink Resins Market.
• The increasing demand for Ink Resins in the printing & publication sector, due to its usage in the printing ink application, has been a critical factor driving the growth of the Ink Resins Market in the upcoming years.
• However, the fluctuating raw material prices and demand for Ink Resins can hinder the growth of the Ink Resins Market.

Ink Resins Market Segment Analysis – by Ink Technology

The UV-curable segment held the largest share of the Ink Resins Market in 2021 and is estimated to grow at a CAGR of 5.9% during the forecast period 2024-2030. The utilization of UV-curable inks in the packaging industry is increasing due to the introduction of low-migration inks that support the ongoing global and regional rules and regulations. UV-cured inks exhibit advantages such as a high level of product resistance, flexibility to accommodate various sizes, variety of print jobs and ease of usage. They are cured and adhered to the substrate by UV radiation and they get dried quickly, permitting a short delivery time. Also, UV-curable ink can be printed on non-absorbent materials such as plastic, metal and glass. Thus, all these characteristics of UV-curable ink technology make it a preferred choice over the other ink technologies that are driving its segmental growth.

Ink Resins Market Segment Analysis – by End-use Industry

The packaging industry held the largest Ink Resins Market share in 2021 and is estimated to grow at a CAGR of 6.3% during the forecast period 2024-2030. Ink resins such as acrylic, polyurethane, polyamide, modified rosin and others are excessively utilized in the packaging sector, owing to the rise in consumer spending, online shopping and the demand for packaged food and beverages. The shift in the customers’ interest toward packaged food items and other products and the requirement to maintain a proper brand image among consumers are anticipated to surge the demand for printing inks and, eventually, for ink resins. In 2022, according to the government of Canada, the Minister of Agriculture and Agri-Food announced an investment of up to US$376 million for the Canadian Produce Marketing Association (CPMA), under the Canadian Agricultural Strategic Priorities Program (CASPP). It was to support the transition toward more sustainable food and product packaging. Thus, with the rising packaging sector, the market for Ink Resins would further increase over the forecast period.

Ink Resins Market Segment Analysis – by Geography

The Asia-Pacific region held the largest share of up to 43% of the Ink Resins Market in 2021, due to the increasing requirement for ink resins in developing countries such as China, Japan, India and South Korea. India is expected to continue its dominance in the Ink Resins Market during the forecast period. This is due to the growth of the packaging industry in the country. According to Invest India, the Indian Packaging Market was valued at US$50.5 billion in 2019 and it is anticipated to reach US$204.81 billion by 2025, registering a CAGR of 26.7% during the period 2020-2025. Also, according to DCC China, the consumption of bottled water was estimated to reach 49 million metric tons by 2020. Moreover, according to the Australian government, in 2021, in Japan, Oji Fibre Solutions (OjiFS), a major supplier of market pulp, paper and fiber-based packaging materials, invested A$72 million (US$51.2 million) in a packaging plant to increase the fresh-food exports in New South Wales, Queensland and the Northern Territory. Such a growing packaging sector in the APAC countries is anticipated to raise the demand for printing ink, utilized for printing purposes on these packaging, during the forecasted period. It is proving to be a booster for the Ink Resins Market size in this region.