WiseGuyReports.com adds “Flexo-Ink Market 2017 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023”reports to its database.
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 has been developed on the basis of conventional letterpress printing. Since then flexographic printing has been evolved as modern way of printing in various applications such as corrugated, flexible film, label and tag, folding cartons and envelope among others. Flexography printing inks are gaining importance in the field of printing industry over gravure printing inks in terms of shorter runs, which benefits special promotions and the demand for even small quantities. However, stern regulations of authorities such as FDA and EPA towards high emissions of volatile organic compound (VOCs) can hamper the market growth. Thus, major players in market are focusing more into expansion and launching of cost efficient products indicating growth in key markets segments.
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.
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.
Europe is second largest market share holder owing to presence of packaged food industries leading to increasing labelling and attractive packaging. Furthermore, with rising demand of personal care and food & beverages products is anticipated to drive the North America and Europe Market. In North America region, countries like US and Canada are anticipated to drive the flexo-ink market due to increasing expenditure on advertisements, outdoor activities and labelling in food and beverages and pharmaceutical industry.
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.
Key players of the global Flexo-ink market are Sun Chemical Group, Flint Group, TOYO INK SC HOLDINGS CO., LTD., HuberGroup Deutschland GmbH, T & K TOKA CO., LTD., SAKATA INX CORPORATION and Siegwerk Druckfarben AG & Co. KGaA among others.
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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
Solvent based flexo-ink, by type is dominating segment over water based flexo-ink owing to quick drying capacity, perform well and allow printers a wide choice of products over water based ink. In near future, stern regulations about high VOCs contain causing health problems can shift the focus towards water based flexo-ink and UV based flexo-ink.
Traders and distributors of Flexo-ink
Production Process industries
Raw material suppliers
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Source: EIN Presswire