Newark, NJ, Jan. 27, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global flexographic inks market is expected to grow from USD 3.86 Billion in 2018 to USD 5.96 Billion by 2025 at a CAGR of 5.58% during the forecast period 2018-2026.
An increase in consumption of consumer goods and FMCG products is fuelling the demand for packaging material, detailed labelling and description of the products thus boosting the demand for flexographic inks in the global market. The growth of the packaging industry, development of novel inks and increasing demand for UV curable inks are the factors driving the flexographic inks market.
Flexography is a form of printing process which utilizes a flexible relief plate. The ink used for the aforementioned printing process is known as flexographic ink. There are 4 common types of flexographic Inks, they are water based, solvent based, ultraviolet and electron beam and oil based. The inks and technique for printing keeps on developing in popularity because of its economical cost and environment friendly nature. The printing surface (substrate type) will determine what ink type it is advisable to use. Each type of ink has its own importance and properties which would become its advantages and disadvantages and hence the type of ink used for printing is dictated by factors such as speed, price and the use of the packaging (cleaning, food, or shopping bags). Increasing global consumption of FMCG products, processed food, consumer goods is fuelling the demand for flexographic ink for comprehensive labelling, marking of the products.
Increasing demand for UV curable inks due to their low wastage and development of newer improved variants of flexographic inks coupled with increased demand for consumer products is propelling the global demand for flexographic inks. On the other hand, shift from print to digital medium, availability of alternate printing method and concerns over harmful effects of inks on environment is fuelling the demand for flexographic inks in higher trajectory.
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Key players operating in the global flexographic inks market include DIC Corporation, Siegwerk Druckfarben AG & Co KGaA , Sakata Inx, Toyo Ink S.C. Holdings Co. Ltd., Flint Group , T&K Toka, Zeller+Gmelin GmbH & Co. KG, Altana AG, Huber Group, INX International Ink Co., Toyo Ink SC Holdings Co. Ltd., Wikoff Color Corp., Flint Group, Sun Chemical Corp among others.
- The specific demands of the customers in the printing space is making producers to come up with innovative products. For instance Huber group came up with Opaque white the flexo printing process that quickly reaches its ink-transfer limits whenever the colour white – that is so indispensable in packaging printing – is called for. The highly opaque enables printers to achieve almost the same opacity levels as the gravure process and prevents the package contents or substrate from shimmering through.
- To cater the insatiable demand for water based inks from Asia Pacific region, firms are undertaking expansion of their production capacities. For instance DIC Corporation doubled its water-based flexographic inks production capacity in Asia Pacific using newly installed equipment in November 2016.
Acrylic based inks led with 42.75% market share by volume in 2017
The resin type segment is classified into acrylic, polyurethanes, polyamides, nitrocellulose, and others. Acrylic-based flexographic inks segment emerged as the leader with a 42.75% share of total market volume in 2017. Superior property of acrylic-based inks for resistance to discoloration caused by heat and abrasion was the driving factor behind this demand. The nitrocellulose inks segment is projected to achieve a significant market share due to its property of compatibility with laminating materials.
UV curable inks is anticipated to grow at a CAGR of 8.64% in 2018-2025
Technology segment is divided into water based, solvent based, UV curable. UV curable inks reduce the wastage of ink thus making the printing process more efficient and cost effective. Due to this property, UV curable inks are anticipated to grow at an increased pace at a CAGR of 8.64% over the forecast period. Water based inks emerged as the dominant segment with a 52.39% share of market revenue in 2017 owing to its low viscosity making it suitable for printing on the paper, corrugated cardboards and plastics.
Corrugated cardboard segment clocked a revenue of USD 1.38 Billion in 2017
Application is segmented into corrugated cardboards, flexible packaging, folding cartons and labels. Corrugated segment is witnessing increased demand due to rise in demand for packaging materials in consumer goods, FMCG products and others. Flexible packaging segment is projected to grow at the highest CAGR of 7.86% during the forecast period.
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Regional Segment Analysis of the Flexographic Inks Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region led the market for flexographic inks with 38.14% of the total market demand. Rising per capita disposable income and improvement in living standards is creating a huge demand for consumer goods, pharmaceuticals, processed food as well as FMCG products within the Asia Pacific region. Thus propelling the Asia Pacific region to dominate the global flexographic inks market. Europe also accounted for significant share of global flexographic inks on account of its well established food processing, beverages and consumer durables industry.
About the report:
The global flexographic inks market is analysed on the basis of value (USD Billion), volume (Kilotons), consumption (Kilotons), imports (Kilotons) and exports (Kilotons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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