Global Ink Resin Market projected to reach USD 5.3 billion by 2032 with a 4.1% CAGR
From GlobeNewswire: 2024-12-05 08:56:00
The global Ink Resin Market is projected to reach USD 5.3 billion by 2032, with a CAGR of 4.1% from 2024 to 2032. The market is driven by the demand for durable, high-performance ink products and a focus on eco-friendly resins. Industries are increasingly adopting UV and water-based inks, with packaging and printing applications being major growth drivers.
The rise in demand for ink resin from packaging, publishing, and labeling sectors is boosting market growth. Packaging is a key end-use market for ink resins, with a growing trend towards bespoke designs and high-quality ink products. Advanced resins are providing durability and superior performance in color and print, meeting the demand for innovative packaging solutions.
An increasing focus on eco-friendly resins is observed in the ink manufacturing process, driven by environmental concerns. Bio-based and water-based ink resins offer superior performance while reducing emissions and toxicity. Strict regulations, like REACH in the EU, are pushing for safer, non-toxic, and sustainable resin solutions in the ink resin industry.
Acrylic resin led the market in 2023, holding a 22% market share due to its fast-drying capabilities and excellent adhesion properties. Water-based ink technology accounted for the highest market share in 2023, around 38%, driven by sustainability trends and environmental regulations. The Asia-Pacific region dominated the market in 2023, with a 56% market share due to rapid industrialization and demand for packaging materials.
Recent developments in the market include BASF launching bio-based resins, Dow expanding water-based resin production, and Sun Chemical developing high-performance resins for digital printing. The Ink Resin Market is set for growth as companies focus on high-quality inks, eco-friendly solutions, and compliance with regulations. The market’s alignment with sustainability and consumer demand for quality printed materials positions it as a critical segment in the chemicals and coatings industry.
Read more at GlobeNewswire: Ink Resin Market Projected to Reach USD 5.3 Billion by 2032