Flexo-ink Market Overview to 2023
Flexo-ink market are gaining importance in printing industry owing to shorter runs which benefits promoting activities. Packaging being major marketing tool is contributing towards high growth of flexo-ink market owing to light weight, good aesthetic properties and help the companies to create a brand image. Moreover, improving economic conditions worldwide is significantly standard of living which is anticipated to drive the global flexo-ink market across end use industries.
Flexo inks are prepared combined with resins such as acrylic resin, polyamide resins, cellulosic resins, polyurethane resins and vinyl resins among others. Rising demand for acrylic based flexo-ink in corrugated paper and folding cupboards are expected to drive the overall global flexo-ink market. Further, polyurethane resins are having superior properties such as hardness, cure speed, viscosities, mechanical and thermal properties. Owing to high flexibility, polyurethane based flexo ink has gained importance in solvent based flexo-ink market. However, to balance the demand of flexo-ink with surging application such as flexible packaging in different regions are likely to open new opportunities for market players. In addition, increase in standard of living and changing climatic conditions are the factors driving the packaging industry in global flexo-ink market.
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Flexo-ink Market – Key Findings
- Global Flexo-ink market is projected to reach USD 6,840.5 million in 2016 and expected to reach USD 10,030.3 million in 2023 with a CAGR of 5.72%.
- Asia Pacific accounted for largest share due to easy availability of raw material, lower labor cost and minimal legislations by government regarding usage of VOCs contain inks in end user industries like packaging, label and paper.
- Key players including SunChemical, Flint Group, Toyo Ink and Siegwerk among others are investing more into product development and shifting towards UV based inks owing to zero VOC contain and high profit margin.
- Flexo-ink market is a fragmented market, however, tier 1 and tier 2 manufacturers dominate the market share.
- Asia Pacific dominate the market accounting for 40%, followed by Europe and North America. Asia Pacific is forecast to be the fastest growing region in Flexo-ink market at close to 6.09% CAGR from 2017 to 2023
The Global Flexo-ink Market is expected to witness a significant growth by 2023 with CAGR of 5.72%. The prominent factors fuelling the growth of flexo-ink market are, new technologies and growing demand of solvent based inks in flexible packaging. Moreover, rising demand for packaged food and beverages has led to development in labelling industry which ultimately upsurge the flexographic printing ink in quality products and services. Apart from this, favouring government regulations and improved performance are key to future gains in the water based flexo-ink market.
Flexo-ink Market – Intended Audience
- Flexo-ink manufacturers
- Traders and distributors of Flexo-ink
- Production Process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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Flexo inks are produced with mixture of resins, additives, pigments, surfactants, adhesion promoters and micro amounts of deformers and silicones to provide excellent properties with cost advantages. Flexo inks are available in three forms, water based, solvent based and UV based. Solvent based flexo inks are ideal for plastics films, wallpaper and commercial uses while water based inks works well with porous materials like cardboard and paper. However, with increase in achievable quality combined with savings in downtime and waste have made UV Flexo inks one of the popular standardised ink in the sector
The global Flexo-ink market is majorly segmented on the basis of Type, Resin Type, End Use and Region. On Basis of Type, global Flexo-ink market is segmented into Water Based Flexo, Solvent Based Flexo, and UV Based Flexo. Based on Resin Type, Flexo-ink market is segmented into Acrylic Resin, Polyurethane Resins, Polyamide Resins, Cellulosic Resins, Vinyl Resins, Others. Based on end use, Flexo-ink is segmented into Packaging Industry, Label Industry, and Paper Industry. Based on region market is divided into North America, Europe, APAC and Rest of the World.
Geographically, Asia Pacific region is the largest market of Flexo-ink due to growing Flexo-ink manufacturers owing to minimal legislations by environmental regulation bodies. Asia Pacific accounts for 40% of market share in which China is dominating segment with more than 50% of market share. With increasing investments in expansion and product development by major players in market especially in packaging industry are also projected to boost the market for flexographic ink market. In addition, packaging industries are gathering more attention to flexible packaging by offering attractive look for customers to purchase. Further in coming years, it is expected that key players will target these region in order to form strategic alliance with local players in market to maintain market share.
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