LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global ink resins market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The global ink resins market will witness moderate growth, which will increase during the forecast period. The properties of ink resins such as solvency, good flow, resin stability, durability, remarkable gloss, and good surface finish and performance, are expected to be the key factors that are influencing the growth of the global ink resins market. An increase in the demand for flexible packaging, folding cartons, corrugated cardboards, and other applications will drive the growth of the global ink resins market.
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The top three emerging trends driving the global ink resins market according to Technavio chemicals and materials research analysts are:
- Growth of UV-cured resins in the production of 3D printing
- Fluctuation of the price of crude oil
- Positive impacts of new technologies on the industry
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Growth of UV-cured resins in the production of 3D printing
The continuous advancements in the field of 3D printing have led to an increased use of UV-curable resins in window graphics, banners, billboards, indoor signage, posters, and more. 3D systems, being a primary pioneer, produce a range of technologies including fused deposition modeling (FDM), selective laser sintering (SLS), stereolithography, and multijet printing (MJP).
“Recent activities include the application of 3D systems for patents regarding radiation-curable compositions. These compositions find applications in systems that are used for image projection. The compositions are both UV- and liquid-curable, and are ideal for the production of solid 3D articles in free-form and solid systems,” says Hitesh Bhatia, a lead analyst at Technavio for research on paints, coatings, and polymers.
Fluctuation of the price of crude oil
The resins used for the production of ink are epoxy, acrylic, polyester, and alkyd resins. These resins are manufactured from petrochemicals that are used in printing inks. The price of petrochemicals is dependent on the price of crude oil, as petrochemicals are byproducts of crude oil. The fluctuating price of crude oil has severely affected the price of the raw materials, affecting the cost of the production of resins.
“With the fluctuation of prices in the crude oil market, the manufacturing cost of resins will fluctuate, having a direct impact on the price of resins in the global market. The change in the oil prices has compelled vendors, operating in the market, to implement various strategies to save cost and other implications,” adds Hitesh.
Positive impacts of new technologies on the industry
Currently, the ink resins market is witnessing growth due to the impact of new technologies. Companies such as Ricoh have developed an inkjet ink based on aqueous resins, which exhibit excellent safety, color reproducibility, and jetting-reliability. Aqueous resin ink is a type of heat-fusing ink that is used in the printing of various uncoated base materials, although it is water-based.
The inkjet based on aqueous resins adopts the technology of water-based ink, which is mainly diffused in household inkjet printers. It is safe for human beings because of the use of water-based inks in the inkjet. Solvent-based inks have been used in the plastic industry, which is labeled as hazardous on the Globally Harmonized System (GHS). However, the use of water-based inks is safer than that of solvent-based inkjets.
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