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Ink Resin Global Market Report 2022: Ukraine-Russia War Impact
Major players in the ink resin market are Lawter, a Harima Chemicals Inc. , Evonik Industries AG, Kraton Corporation, Arakawa Chemical Industries Ltd. , Arizona Chemical, Covestro AG, The Lubrizol Corporation, Eastman Chemical Company, Arkema S.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Ink Resin Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06371390/?utm_source=GNW
A., Ingevity, Resinall Corp, VIL RESINS, United Ink, Neville Chemical Company, and Cytech Coatings Pvt. Ltd.
The global ink resin market is expected to grow from $3.53 billion in 2021 to $3.74 billion in 2022 at a compound annual growth rate (CAGR) of 5.88%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many every markets across the globe. The ink resin market is expected to grow to $4.78 billion in 2026 at a compound annual growth rate (CAGR) of 6.33%.
The ink resins market consists of sales of ink resins by entities (organizations, sole traders, and partnerships) that are used as a printing ink binder in ink vehicles that help to assist the ink pigment in adhering to the substrate.Ink resins refer to a type of material, either solid or semi-solid, that is used to make inks by mixing them with additives, solvents, and pigments.
Ink resins are used in printing inks to control viscosity, improve pigment wetting, and boost pigment adhesion properties.
The major types of ink resins are modified rosin, hydrocarbon, modified cellulose, acrylic, polyamide, polyurethane and other resin types.Modified rosin refer to a resin that has undergone a modification other than esterification, hydrogenation, or dimerization is referred to as modified rosin.
Major technologies involved are oil-based, solvent-based, water-based, UV-curable-based.It has several printing processes are lithography, gravure, flexography, and other printing processes.
It is used in various applications such as printing and publication, flexible packaging, corrugated cardboard and cartons, and other applications.
Asia pacific was the largest region in the ink resins market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in ink resins market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in consumer spending and online shopping is expected to propel the growth of the ink resin market going forward.Online shopping is a type of electronic commerce that enables customers to place direct orders for goods or services from sellers using a computer browser.
High-quality packaging is seen as an additional expenditure by the majority of e-commerce enterprises since it protects the item from damage during shipping, lowering the likelihood that buyers will return it.Flexible packaging inks improve the graphic appearance and help the package work better by maintaining the quality of the pictures during the product’s production, packaging, transportation, and use.
For instance, in June 2021, according to an article published by Oberlo, a Germany-based online store where business owners can look for and purchase products to sell, the number of digital purchasers accounted for 2.14 billion in 2021. That amounts to 27.6% of the 7.74 billion people in the world. Digital consumers increased by 900 million more people in 2021 compared to 2020, or 4.4%, year over year. Furthermore, in 2022, the number of digital buyers is expected to be 266.7 million in the United States. Therefore, the increase in consumer spending and online shopping is driving the growth of the ink resins market.
Product innovations are the key trend gaining popularity in the ink resins market.Major companies operating in the market are developing innovative products such as improvements in 3D printing, and the introduction of new technologies such as inkjet, offset, and others to sustain their position in the market.
For instance, in March 2022, ALTANA, a Germany-based developer and manufacturer of high-quality, innovative specialty chemical products, is adding new high-performance resins to its already released Cubic Ink® 3D printing material families.In this material category, the two new resin-based Cubic Ink® 3D printing material series ""High Performance"" and ""Prototyping"" provide high levels of flexibility, toughness, and heat resistance.
The Cubic Ink® printing materials combine properties that allow them to be used as final components with properties that are process-friendly, like low viscosity and resin stability.
In May 2020, DIC Corporation, a Japan-based chemical company that specializes in the development, manufacture, and sale of inks and pigments, acquired liquid inks for packaging business from Liaoning Tianqi Technology Co., for an undisclosed amount. This acquisition is expected to boost DIC Corporation’s production capacity for liquid inks in the PRC by around 20%. Liaoning Tianqi Technology Co. is a China-based developer and manufacturer of inks, coatings, adhesives, solvents, and packaging products.
The countries covered in the ink resins market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The ink resin market research report is one of a series of new reports that provides Ink resin market statistics, including Ink resin industry global market size, regional shares, competitors with a Ink resin market share, detailed Ink resin market segments, market trends and opportunities, and any further data you may need to thrive in the Ink resin industry. This Ink resin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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