Global Specialty Ink Market Revenue is segmented into Type, Resin Type, Application and Region.
Based on Type, the market is divided into modified thermochromic (changes color when exposed to heat), photochromic (changes color when exposed to light).
By Resin Type, the Global Specialty Ink Market is categorized into modified resin, acrylic, cellulose, polyamide, polyurethane, hydrocarbon, and others.
Based on Application, the market is classified into printing & publication, flexible packaging, safety & security, entertainment, and others.
Geographically, the market is spanned across the five key regions, including Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The prominent players in the Global Specialty Ink Market are Lawter (U.S.), BASF SE (Germany), Royal Dsm N.V. (The Netherlands), DowDuPont (U.S.), Evonik Industries AG (Germany), Hydrite Chemical (U.S.), Arizona Chemical Company, LLC. (U.S.), Arakawa Chemical Industries, Ltd. (Japan), Indulor Chemie Gmbh (Germany), and IGM Resins, Inc. (The Netherlands), among others.
North America, Europe, Asia Pacific, Latin America and the Middle East & Africa are the Five Key Regions, the Global Ink Resin Market divided into. Among these regions, Asia Pacific is dominating the market with over 35% share of the market, as of 2016. During the review period, the region is expected to grow at the highest growth rate on account of the rising demand and use of printed packaging and brand validation stickers. Growing consumer awareness and significant shift towards the use of packaged consumable products with informative labeling is the prominent factor driving growth of the market in this region. In addition to this, the increasing disposable income and rising standard of living of the people are the prominent factors fuelling growth of the regional market.
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Moreover, dynamic economies such as India, China, Singapore, and South Korea are witnessing continuous rise in demand for the product from numerous end users such as packaging, foods & beverages, automotive, electronics, and printing, among others. Furthermore, in the emerging economies in this region, the high-level government agencies and departments are gradually adopting the Specialty Inks in order to maintain sanctity and confidentiality of their high-end secret documents.
Additionally, in India and Japan the regulatory agencies operating in the food and drugs safety have mandated the foods, beverages, drugs, and medical product manufacturers to print nutritive value and other safety instructions on the wrapper. This is projected to boost demand for the product in this region during the years to follow.
North America is following Asia Pacific and holding a significant share of the Global Specialty Ink Market. This region is further segmented into the U.S, Mexico, and Canada. The U.S holds a major share of the market on account of the presence of leading players and major end use industries such as food & beverages and packaging.
Europe is also a substantial region in this market which is categorized into Germany, Italy, U.K, France, Spain, and Russia. Among these, Germany and the U.K is expected to dominate the regional market share. However, the region is expected to witness sluggish growth on account of present economic slowdown in the Western Europe.
The Middle Eastern & African countries are substantially contributing to the growth of the regional specialty ink market with rising demand for the product from flourishing tourism industry and entertainment business. Lastly, Latin American countries such as Brazil, Mexico, Venezuela, and Colombia are reviving from the political and economic downfall and are anticipated to gain momentum to join hands with the leading regions in the Global Specialty Ink Market, during the review period.
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