Pune, India, November 2018/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Flexo-ink Market.
Flexo-Inks are developed based on conventional letterpress printing process. However, flexographic printing has been evolved as a modern way of printing in various applications such as corrugated packaging, flexible film, labels & tags, folding cartons and envelope among others. And, so have increased the uses of Flexo-Inks to the extent that these are preferred more in the printing industry over gravure printing inks.
Flexo- inks provide excellent properties with cost advantages especially in shorter runs printing used in special promotions and smaller quantities. This prominence has been helping these inks to garner more traction, escalating its market on the global level.
Acknowledging the kind of traction, this market perceives today, Market Research Future (MRFR) in its recently published analysis; asserts that the global Flexo-ink Market will USD 5.77 Billion by 2032 registering approximately 5.72% CAGR throughout the forecast period (2023-2032). The market had valued at USD 3.7002 Billion in 2023.
Rising demand for label printing drives the Flexo-ink market due to the rising demand for packaged food and beverages. The development in the labeling industry and the upsurge in the flexographic printing ink in terms of products quality and services is driving the market growth.
Additional factors substantiating the market growth include new technologies and growing demand for solvent-based inks in flexible packaging. Furthermore, favorable government regulations and improved performance are key driving forces behind the market growth.
On the other hand, stringent regulations of authorities such as FDA and EPA towards high emissions of volatile organic compound (VOCs) are impeding the market growth. Nevertheless, substantial investments made by the key manufacturers in the development of products and technologies will support the market growth.
Flexo inks are available in three forms, water-based, solvent-based and UV based. However, UV Flexo inks have become one of the popular standardized inks in the sector due to the increase in achievable quality and lesser downtime and waste.
Flexo-ink Market - Segmentation
MRFR has segmented the report into four key dynamics for the convenience of understanding.
By Type: Water-based Flexo, Solvent-based Flexo, and UV Based Flexo.
By Resin Type: Polyurethane Resins, Acrylic Resin, Polyamide Resins, Vinyl Resins, and Cellulosic Resins, and among others.
By End-use: Label Industry, Packaging Industry, Paper Industry and others.
By Regions: North America, Europe, APAC and the Rest-of-the-World.
The Flexo-ink market in the Asia Pacific region is expected to retain its dominance over the global market registering over 6 % CAGR during the forecast period. The APAC accounts for almost 40% of the market share followed by Europe and North America. The number of Flexo-ink manufacturers is growing every year owing to minimal legislation by the government regarding usage of VOCs contain inks in end-user industries like packaging, label, and paper.
Moreover, the availability of cost-competitive workforce and raw materials in the region attracts foreign investors and manufacturers. Spurting industrialization over the past few years is driving the demand and uptake of Flexo-ink across the printing and packaging sector in the region. Countries such as Japan, China, South Korea, and India, backed by their surging economy contribute to the market growth in the region.
The European region accounts for a lucrative market for Flexo-ink, standing at the second position, globally. The presence of well-developed packaged food industries accounts for the key growth contributor, leading the demand for labeling and attractive packaging. European countries such as the U.K, France, Germany, and Switzerland are among prominent consumer markets due to the increased expenditure led by the growing purchasing power of consumers.
The North American region is emerging as a promising market for Flexo-ink, closely following the European market. Furthermore, with rising demand for personal care and food & beverages products is anticipated to drive the market in the region. The US and Canada with their increasing expenditures on advertisements, labeling in food and beverages and pharmaceutical industry foster the flexo-ink market in the region.
Flexo-ink Market - Competitive Analysis
Although the market appears to be highly completive and fragmented due to the presence of many small and large market players, tier 1 and tier 2 manufacturers dominate the market. Product launch, M&A activities, and collaboration remain key strategies for the market players to gain competitive advantages.
Manufacturers strive to offer the best quality, reliable and consistent pure, high-quality products based on innovative technologies. These players continuously invest in the development of newer technologies to provide their clientele with solutions tailor-made for a modern marketing era. They invest more in product development, shifting towards UV based inks with zero VOC contains that can draw a high-profit margin.
Some of the leaders of the market include Flexo-ink market are Sun Chemical Group, Flint Group, Toyo Ink Sc Holdings co., ltd., T & K Toka co., LTD., HuberGroup Deutschland GmbH, Siegwerk Druckfarben AG & Co. KGaA, and Sakata Inx Corporation among others.
Industry/ Innovation /Related News:
November 05, 2018 – Shanghai Value Tech Co., Ltd and ANO (China) represented a range of innovative narrow web ink and varnish solutions of Pulse Roll Label Products Ltd. (UK), a leading web ink specialist and provider of a total color management solution for label and packaging printers worldwide at the 7th All in Print China.
Also, Pulse’s high-strength water-based flexo ink system was featured at the event. Pulse had launched PureScreen UV screen printing technology and PureAqua, a high-strength water-based flexo ink system in September 2017.
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