Global ink resins market is expected to grow over the forecast period with the increasing use of flexible packaging and folding cartons. In addition, improving supply of raw materials for manufacture of ink resins is anticipated to augment market growth. Moreover, long-term strategic partnerships between ink manufacturers and resin suppliers, helping both ink manufacturers to secure feedstock supply and resin suppliers to ensure constant returns, is anticipated to aid ink resin market growth over the forecast period. Increasing demand for packaged food and beverages is also expected to be a major contributing factor to ink resins market growth over the next seven years. However, switch from traditional shopping to internet and screen-based marketing is anticipated to act as key restraining factor for the ink resin market growth. Rise in prices of petrochemical ink resin feedstock is also expected to hamper market growth. Development of environment friendly ink resins is expected to open new market avenues for the market in the upcoming years. Furthermore, increasing preference towards water-based inks due to presence stringent environment protection policies is anticipated to assist market growth over the projected period.
Ink resins market is segmented on the basis of resin types which include modified rosin, modified cellulose, hydrocarbon, acrylic, polyurethane and polyamide ink resins. The market is also categorized by printing process type including flexographic, lithographic, gravure, letterpress and digital printing. Lithographic printing accounted for major market volume share of the market in 2014 being the more conventional technique. Digital printing is the fastest growing segment on account of increasing household printing devices.
On the basis of applications, the market is segmented as printing & publication, corrugated cardboards & cartons and flexible packaging. Printing & publication accounted for the major market volume share in 2014 in light of mass marketing and print media. Flexible packaging is expected to witness high growth on account of increasing trend of packaging due to online shopping and packaged food & beverages over the forecast period.
Asia Pacific accounted for the major market volume share of ink resins market in 2014 owing to the increasing demand for printing inks in the packaging industry. China accounted for majority of the ink resin demand owing to dominant packaging industry in the country. Asia Pacific is expected to dominate the market in terms of volume owing to increasing trend of online shopping and packaged food items. North America is expected to witness steady growth rates on account of increasing food & beverage industry in the region. Emerging economies such as India, Brazil and Mexico are expected to have high potential for the ink resins due to rapid industrialization of these economies.
Ink resins market is fragmented in nature due to presence of numerous players in the market. Key players in the market include BASF, Royal DSM, IGM Resins, Arizona Chemical, Lawter B.V., Hydrite Chemical Co., Arakawa Chemical Industries and Evonik Tego Chemie GmbH.
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