ALBANY, New York, June 6, 2019 /PRNewswire/ -- The global ink resins market is expected to be moderately consolidated due to the presence of just a handful of leading players, notes Transparency Market Research. For example, The Dow Chemicals Company, BASF SE, Lawter Inc., and DIC Corporation are some of the names operating in the ink resins market, globally. The market is, however, mature due to presence of large numbers of incumbent players. This makes it difficult for new entrants to make their place in the market. The leading companies are taking up several business strategies for example, mergers and acquisitions, investments in research and development activities. Moreover, they are creating new products, particularly, eco-friendly and sustainable ink resins, in order to compete strongly with their competitors. A well-known firm, BASF SE, launched various advanced ink resins named - Versamid. Moreover, it is developing eco-friendly ink-Joncryl.
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According to a report by Transparency Market Research (TMR), the global ink resins market is likely to project a steady CAGR of over 5.0% within the forecast period from 2019 to 2027. This ink resins market in 2018 was valued around worth of US$3.0 bn. The global ink resins market is expected to experience a slow growth owing to highly-efficient printing process, which needs lesser amount of printing inks.
On the basis of type, the global ink resins market is categorized as polyamide, modified rosin, polyurethane, hydrocarbon resin, and acrylic. Among these, the modified rosin segment led the market globally, as it is most widely used ink resin in the world. It is comparatively cheaper than other alternatives, is easily available, and people are more aware about this product. Most of the gum rosins are produced in Indonesia, China, and Brazil. These gum rosins are used to develop modified rosin that is used for printing inks. Geographically, Asia Pacific region is estimated to dominate the global ink resins market owing to increased production of the printing inks.
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Growth in Packaging Sector Propels demand in Ink Resins
Presently, packaging has become a necessity. This safeguards the products from various factors, for example extreme environmental conditions and miss-handling. Appealing packaging holds a key role in selling a product. Buyers and makers are now realizing the advantages and importance of certain types of packaging. Resultantly, there has been a rise in the global packaging sector. Rapid development in this sector is auguring well for the demand in ink resins market due to rising need for printing inks, where ink resins are its raw material.
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Emergence of E-commerce business Hampers Market Development
Digitization has taken the market by storm. It turns the pictures and texts into digital form. The entire process began from the advent of mobiles, computers, internet, and other smart electronic gadgets. Various books and other informative stuff are easily available online, and can be accessed through digital media. Besides, the marketing process also involves less of printing and more of digitalization. This growing trend of e-commerce is hindering the growth of commercial printing. Resultantly global ink resins market is expected to witness a downfall, in the span of forthcoming years.
Huge range of ink resins have different pros and cons. These ink resins can be produced based on the accurate requirement for final printing inks. Printing inks can be personalized for particular applications for example, publishing, packaging, and commercial printing.
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The study presented here is based on a report by Transparency Market Research (TMR) titled "Ink Resins Market (Type - Modified Rosin, Hydrocarbon Resin, Modified Cellulose, Acrylic, Polyamide, and Polyurethane; Printing Process - Flexography, Lithography, Gravure, and Digital; Printing Ink - Water-based, Solvent-based, UV-cured, and Oil-based; Application - Packaging, Publishing, Commercial Printing) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027."
The global ink resins market has been segmented as follows:
- Modified Rosins
- Hydrocarbon Resins
- Modified Cellulose
- Others (Including Screen Printing)
- Commercial Printing
- Others (Including Marketing Material)
- 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
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