Flexographic Ink Market Size Forecast to Reach Around $5 Billion by 2025

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Flexographic Ink Market size is forecast to reach around $5 billion by 2025 after growing at a CAGR of 5% during 2020-2025. Flexographic ink is used in the printing of coated & uncoated Paper materials and non-porous substrates such as metallized & paper foils and plastic films. Flexographic inks exhibit high adherence to the substrate surface and offer excellent printing quality, irrespective of the material of the substrate. The high demand of flexographic ink from the Packaging industry drive the market growth. In addition, surging demand of UV curable ink also bolster the growth of the flexographic ink market. Besides, the growing demand for environment-friendly ink such as Water-Based Flexographic Ink further drive the growth of this market.

Flexographic Ink Market Segment Analysis – By Ink Type

Energy curable inks holds the largest share of more than 55% in the flexographic ink market in 2019. Energy curable inks dry through intermolecular bonding, which solidifies the ink on the substrate whereas volatile inks contain a liquid solvent like water or alcohol that evaporates and leaves the image on the substrate. Exceptional advantages of energy curable inks such as instant curing, low volatile organic compound (VOC) content, and other environmental benefits, have paved the way for increasing use of the technology, particularly in packaging.

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Flexographic Ink Market Segment Analysis – By Resin Type

Acrylic segment held the largest share of more than 30% in the flexographic ink market in 2019. Acrylic formulations provide an ideal solution such as combined balanced performance, good weather resistance, and advantageous processing. Acrylic resin are tremendously versatile. They have low-cost and a broad performance range, from ultra-removable to ultra-high durability depending on the formulation. Due to these benefits of acrylic, the application of low temperature resins based on acrylics is increasing greatly in heavy-duty equipment’s. Whereas, Epoxy segment is the second largest segment in flexographic ink market. Epoxy resins are widely used due to their exceptional chemical resistance, low porosity, durability, and bond strength.

Flexographic Ink Market Segment Analysis – By Technology

Water based inks held the largest share of more than 35% in the flexographic ink market in 2019. These inks provide high durability and are compatible with a large variety of substrates. Water-based flexographic inks use water as a solvent and contains colorant, resins and binder, all dissolved in water. Their low level of volatile organic compound (VOC), makes them environmental friendly inks with minimal harmful effects on human health. Water based flexographic inks have the highest surface tension of all ink types. Additionally, these inks provide scratch resistance and superior printing rate properties. The pigment used in the water based ink has strong in alkali resistance and good dispensability in an aqueous system. Water based inks are non-flammable, with no special handling or storage requirements. Owing to these properties, water based flexographic inks is projected to grow during the forecast period.

Flexographic Ink Market Segment Analysis – By Application

Flexible Packaging held the largest share of more than 30% in the flexographic ink market in 2019. Robust flexible packaging industry growth on account of escalating end-use industries such as food & beverage, pharmaceutical, and cosmetics will subsequently boost the global flexographic inks market. Flexographic Inks are popular due to its color, flow behavior, good surface appearance, performance, and gloss. Flexographic inks enables printing on a wide variety of both porous and non-porous flexible packaging surfaces. Flexographic ink also offers a variety of ink types, many of which require little or no drying time. Surging demand for flexible packaging owing to its lightweight, cost-effectiveness & increased shelf life of the product fuels the growth of the global flexographic Ink market. According to the Flexible Packaging Association (FPA), flexible Packaging is the second largest packaging segment in the U.S., garnering about 19 percent of the $170 billion U.S. packaging market. Thus, soaring demand for unique packaging inks and rapid growth in flexible packaging are the major factors contributing demand in the flexographic inks market.

Flexographic Ink Market Segment Analysis – By Geography

APAC dominates the flexographic ink market with a share of more than 45% followed by North America and Europe in 2019. This growth is attributed to the growing demand for flexographic ink from emerging economies like India and China. Whereas, the growing foreign direct investment for economic development of South East Asia, high growth in the food and beverage sector, rising personal disposable income, and the rising penetration of internet and e-commerce in the region drive the market growth. Besides, increasing demand for biodegradable & renewable flexographic ink is also contributing to the market growth of flexographic ink in the APAC region.

Flexographic Ink Market Drivers

Growing demand for flexographic ink from packaging industry drive the market growth

Flexographic technology is capable of printing continuous patterns. In addition to wide range of colors, flexographic inks are widely used as a quick and economic way of applying simple designs to a various packaging materials. The surging trend and development of attractive packaging drive the demand for flexographic ink from packaging industry. Moreover, the strong growth of the packaging industry is due to high demand from end-user industry also contribute to the market growth. According to the World Packaging Organization, the annual turnover of the packaging industry is estimated to be at around USD 500 billion in 2016. Whereas, the rising demand for flexographic inks in packaging application products, such as tags and labels, flexible packaging, and folding cartons also drive the growth of market in the forecast period.

Growing e-commerce sector

Flexographic Ink is used in the packaging substrate of e-commerce products and a growth in the e-commerce industry will subsequently lead to a growth of flexographic Inks market. In the global scenario, e-commerce is the largely preferred retail format especially among the young shoppers who are inclined towards online shopping through their smartphones. E-commerce and m-commerce have witnessed a rapid proliferation across the globe and this has augmented the need for e-commerce packaging. Vendors operating in the regional market are aligning their businesses with the current market expectations and are bringing in greater innovation and enhanced quality in the packaging of their products to meet customer expectations. A growth in the e-commerce industry, is expected to significantly drive the market in the forecast period.

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Flexographic Ink Market Challenges

Emergence of COVID-19 and High cost of flexographic ink hinder the market growth

The outbreak of COVID-19 has slowed the growth of flexographic ink market. Lack of manpower has led many manufacturing companies to stop their production, which further hampered the growth of this market. In addition, World Trade Organization forecasted that the global trade will fall by between 13% and 32% in 2020 as the COVID 19 pandemic disrupts normal economic activity and life around the world, this may slightly affects the growth of flexographic ink market. However, rising health concerns among the people and spread of virus has accelerated the use of packaged items, which may augments the growth of flexographic ink market in the forecast period. Whereas, the fluctuation in raw material prices of crude oil, resins, and ingredients also hamper the market growth.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the flexographic Inks market report. In 2019, the market of flexographic Inks has been consolidated by the top 10 companies accounting for XX% of the share. Major players in the flexographic Inks market are PPG Industries, Inc., AkzoNobel NV, Flint Group, Valspar Corporation, Sun Chemical Corporation, Siegwerk Druckfarben AG & Co. KGaA, DIC CORPORATION, TOYO INK SC HOLDINGS CO., LTD, Alden & Ott Printing Inks Company, and Nazdar Company, among others.

Acquisitions/Technology Launches/Product Launches

In April 2016, Siegwerk Druckfarben AG & Co. KGaA launched its first LED UV flexographic inks, SICURA Nutriflex LEDTec ink series. SICURA Nutriflex LEDTec ink range is based on the successful SICURA Nutriflex 10 series and find applications in food and pharmaceutical packaging.

Key Takeaways

China has shown significant growth in the flexographic ink market owing to increasing demand from food & beverages industry coupled with the growing population.

The cost-effectiveness and environment friendly product of water-based ink drive the growth of the flexographic inks market in the forecast period.

Stringent printing and packaging regulation and increasing digitization in publishing industry hamper the growth of flexographic inks market in the forecast period.

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https://www.industryarc.com/Report/18387/paper-chemicals-market.html

B. Packaging Machinery Market

https://www.industryarc.com/Report/18675/packaging-machinery-market.html

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Contact Information:

Venkat Reddy
Sales Director
Email: [email protected]
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

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