Global Flexographic Ink Market Report, published by Variant Market Research, forecast that the global market is expected to reach $15.3 billion by 2025 from $10.6 billion in 2017; growing at a CAGR of 4.7% from 2017 to 2025. By geography, Asia-Pacific, and North America are expected to grow at a CAGR of 5.9% and 4.9%, respectively, during the forecast period. Flexographic ink find usage in printing of many packing materials including paper bags, food packaging, plastic bags, and cardboard boxes by flexography process. Frequently used flexographic ink technologies includes water based technology, solvent based technology, as well as UV based technology.
"Flexographic Ink Market (ByResin Type: Nitrocellulose, Polyamide, Polyurethane, Acrylic, and Other Resins; By Technology: Water Based, Solvent Based, and UV Based; By End Use Industry: Flexible Packaging, Rigid Packaging, Tags and Labels, and Paper Printing; By Geography: North America, Europe, Asia-Pacific and RoW) Global Scenario, Market Size, Outlook, Trend and Forecast, 2016 – 2025"
Rising demand from packaging industryto drive the growth of the global market
The factors supporting growth of the global Flexographic Ink market are advanced ink resin technologies, rising demand from packaging industry, and mounting demand about UV-curable inks. However, uncertainty in raw materials prices may act as a restraint for the growth of the market. Though, rising importance of UV-curable technology in food packaging would provide several growth opportunities for the market in the future years.
Resin type, technology, end use industry, and geography are the major segments considered in the global flexographic ink market. By resin type, the market is bifurcated into nitrocellulose, polyamide, polyurethane, acrylic, and other resins. By technology, the market is categorized into water based technology, solvent based technology, and UV based technology. End use industry comprises flexible packaging, rigid packaging, tags and labels, and paper printing. By geography, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America covers the U.S., Canada, and Mexico. UK, Russia, Germany, France, and Rest of Europe are analyzed under the European market. China, India, Japan, and Rest of Asia-Pacific are included under the Asia-Pacific Market While RoW is bifurcated into South America, Middle East, and Africa.
Acrylic accounted for the largest market share in theresin typesegment
Acrylic accounted for the largest market share in 2017, in the resin type segment, and are expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to the preference of acrylic resins compared to other resins due to their properties including excellent solvent resistance, good plasticizer resistance, high flexibility, as well as impact resistance.
Water based technologyaccounted for the largest market share in the technologysegment
Water based technology accounted for the largest market share in 2017, in the technology segment, and is expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to the properties of water-based flexographic inks including low VOC emissions, less flammability, environment-friendliness, & stable viscosity.
Flexible packagingaccounted for the largest market share in theend use industry segment
Flexible packaging accounted for the largest market share in 2017, in the end use industry segment, and are expected to continue its dominance during the forecast period 2017 – 2025. The growing preference for packaged goods among customers is the major driving factor for the growth of this segment.
North America dominated the global market with highest market share over the forecast period
North America dominated the global market with largest market share of 36.1% in 2017 and expected to continue its dominance during the forecasted period. The growth is attributed to the increasing use of packaging for food & beverages as well as personal care products in the region.
The major players operating in the market are Flint Group, INX International Ink Co., DIC Corporation, T&K Toka Co., Ltd., Siegwerk Druckfarben AG & Co. KGaA, Sakata Inx, Toyo Ink SC. Holdings Co. Ltd., Wikoff Color Corp., Zeller+Gmelin GmbH & Co. KG, and Altana AG, among others.