(PharmaNewsWire.Com, September 23, 2021 ) Europe Ink Resins market was valued at US$ 850.00 Mn in 2020, estimated to reach US$ 1,450.00 Mn in 2027 with a CAGR of 6.23% from 2021-2027.
Ink resins are used to manufacture printing inks. Key properties that an ink resins possess are stability, good surface appearance, flow, gloss, solvency as well as dilatability. The ink resins have several important functions like dispersion of the pigment & prevention of its re-agglomeration. It acts as a pigment binder to provide quick & lasting adhesion to a substrate.
Europe Ink Resins Market is segmented into various countries such as Germany, France, the U.K., Turkey, Switzerland, Norway, Sweden, Spain, Denmark, Finland, Iceland, Poland, Luxembourg, Netherlands, and Belgium.The Europe region is the most active market in terms of f strategic initiatives, due to their market demands. he flexible packaging application has led the rapid growth in the Europe ink resins market over the forecast period.
In January 2020: BASF SE had invested in the expansion of polyurethane dispersion business in Europe. This investment will allow company to increase its production capacity by 30% for water-based polyurethane dispersions. By expanding its polyurethane dispersion business in the field of parquet flooring, adhesives, automotive & industry coatings, the company is making a valuable contribution to the change from solvent-based coating systems to environmentally friendlier & more sustainable water-based systems.
Impact of COVID-19 on Market
Increase in Outbreak of COVID-19 in European region is expected to hamper the growth of Europe ink resin market due to the lockdown or shutdown guidelines issued by the various government to avoid the spread of COVID-19. The complete shutdown of the manufacturing industry during the first quarters of year 2020, has impacted the ink resin manufacturing industry, significantly. The COVID-19 pandemic has enabled the cost of raw materials to increase. The Europe Ink resin market has also witnessed an inflation in the prices of basic needs.
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