The ink resin market is expected to reach US$3.198 billion by the end of 2023, increasing from US$2.523 billion in 2017, growing at a CAGR of 4.03% during the forecast period.
Ink resins have a number of applications across various industries owing to superior properties such as high solvency, good flow, stability, enriched gloss, better surface appearance, and performance. The growth of e-commerce industry and rising demand for retail-ready packaging are the major factors driving the demand for ink resins worldwide. Rising automotive production and an increase in infrastructure spending will further add to the demand for these resins.
The Asia Pacific held a significant market share in 2017 and is projected to grow at an impressive rate owing to rising disposable income, increase in infrastructure spending and budding e-commerce industry during the forecast period.
Major industry players profiled as part of the report are The Dow Chemical Company, BASF Corporation, Evonik Industries, Kraton Corporation, IGM Resin, and Koninklijke DSM N.V. among others.
The ink resin market has been analyzed through following segments: