The Global Ink Resins Market is projected to proliferate rapidly over the forecast period until 2023, notes Market Research Future research analysts. The market is, however, mature due to the presence of some key market players who are uninterruptedly contributing to the growth of Ink Resins Market in substantial ways.
Generally, Ink Resins are materials that are utilized as a part of the creation of printing inks. They are used mainly for creating various ink shades which appears to be shiny. Therefore, resins are a piece of the production of printing inks and are highly utilized in ink technology, printing system, and end-user applications.
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The protruding players effective in the Global Ink Resins Market are Lawter (The U.S.), BASF SE (Germany), Royal Dsm N.V. (The Netherlands), DowDuPont (The U.S.), Evonik Industries AG (Germany), Hydrite Chemical (The U.S.), Arizona Chemical Company, LLC. (The U.S.), Arakawa Chemical Industries, Ltd. (Japan), Indulor Chemie Gmbh (Germany), and IGM Resins, Inc. (The Netherlands), among others.
Global Ink Resins Market: Drivers & Trends
The Global Ink Resins Market has observed spectacular growth on account of the growing demand for ink resin from significant end-users such as packaging. This sector has earned an estimated growth rate of 6% CAGR due to the global demand for label packaging that provides information on nutritive and product. As packaging is an important aspect that affects the purchasing decisions of consumers, it is one of the critical factors for Ink Resin Market to gain valuation. In the packaging sector color, design and appearance are essential to attract the customers. This has come to be a crucial factor that is contributing to the Global Ink Resins Market expanding in the years to come.
Apart from this, with the increase in per capita income and standard of living of people, mainly in developed regions, has also impacted the Global Ink Rein Market in substantial ways. Most of the population has shifted their interest towards the use of packaged food, beverages, and others. Therefore, the demand for ink resins, particularly in the packaging industry, has boosted the Global Ink Resins Market substantially over the years and is expected to expand more during the forecast period.
Furthermore, as per the research, the endless activities of research & development to bring in new products, advancements with the help of 3D printing, and the arrival of new technologies such as inkjet, offset and others are highly expected boost growth of the Ink Resin Market during the forecast period. On the flip side, some fluctuations in the crude oil prices, cost-intensive new technologies, and shift from traditional to digital market are the some of the serious bottlenecks in the market, which may hinder the growth of the Global Ink Resin Market during the review period.
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According to MRFR reports, the Global Ink Resins Market has been segmented into Type, Application and Region.
By the Mode of Type, the market is divided into the modified resin, acrylic, cellulose, polyamide, polyurethane, hydrocarbon, and others.
By the Mode of Application, the Global Ink Resins Market is categorized into printing & publication, corrugated boards, flexible packaging, and others.
By the Mode of the Printing Process, the market is classified into lithographic, flexographic, gravure, letterpress, and digital printing process.
Regionally, the Global Ink Resin Market has covered key regions, which includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa.
Among these, Asia Pacific has been observed to be the fastest growing market, owing to the occurrence of dynamic and emerging economies in the countries like India, Japan, China, Singapore, and South Korea. Wherein, India and China are the major shareholders in this region on account of mounting demands for Ink Resin in diverse applications.
North America holds the second largest position in the Global Ink Resins Market. Here, the U.S is leading the market, mainly attributing to the enormous demands of packaged food and other retail products as well as the expansion of foods & beverages industry in this region.
Europe is another important region in the Global Ink Resins Market with major contributors in U.K, France, Germany, and Switzerland. The region is anticipated to onlook moderate growth during the forecast period owing to sluggish growth of end users and economic slowdown. Whereas, Latin America is considerably estimated to register a significant CAGR due to stimulating the economy and high growth potential of Brazil and Mexico. Lastly, the research mentions that in the coming years, the Middle East & Africa region will grow at considerable CGAR on account of the enormous growth opportunities offered by the tourism industry.
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This post was originally published on The Market Plan