April 01, 2020
According to the research report titled ‘Asia Pacific Flexographic Printing Inks Market By Product, Application, Regional Outlook - Industry Size, Share, Growth Trends & Forecast, 2018 – 2024’, available with Market Study Report LLC, Asia-Pacific flexographic printing inks market is projected to surpass USD 4.5 billion by the year 2024.
Flourishing packaging industry with growing demand for flexible packaging solutions in households, food & beverage industry and pharmaceutical sector is driving the growth of Asia-Pacific flexographic printing inks industry. Growing e-commerce and rising per capita income have enhanced the consumption and availability of consumer products which in turn is aiding the market expansion.
As per product type, solvent based inks segment generated USD 800 million in 2017 and is presumed to expand continuously during the forecast period. These inks provide higher printing rates and are scratch resistant.
On the other hand, UV cured inks segment is expected to register significant growth over the ensuing years as they possess properties such as color consistency, rub & chemical resistance, and gloss.
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The report states that flexographic printing inks are extensively used for printing flexible packaging materials. These packaging are utilized in consumer products, food & beverage, pharmaceutical and retail industries. Proliferation of e-commerce is encouraging the consumers to shop online, thereby fueling the need for packaging and logistics of goods, hence favoring the flexographic printing inks market outlook in Asia-Pacific.
The key players of APAC flexographic printing inks industry are T&K Toka, Flint Group, INX International Corp., Tokyo Printing Ink, Hubergroup India, Jiangmen Toyo Ink Company, TOYO Ink Group, Sakata INX, and DIC Corp. among others.
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