May 12, 2020
As per the report titled ‘Global Flexographic Ink Market Size study, by Resin Type (Polyamides Resin, Other Resins), by Technology (Water-Based Technology, Solvent Based Technology, UV-Curable Technology), by Application (Flexible Packaging, Corrugated Cardboard, Folding Cartons, Tags & Labels) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global flexographic ink market was valued at USD 3.29 billion in 2018 and is projected to grow with a CAGR of 4.82% during 2019-2026.
Flexographic Ink is used in flexography process to print on materials such as consumer goods, textiles, plastics, cardboards, newspapers, catalogues, food & beverage packaging, and more. Rapid expansion of packaging industry owing to increasing sales of consumer goods and rising preference towards packaged food products are major growth drivers of global flexographic ink market.
Citing an instance, INX International launched AquaTech ION-X ink in 2018 that is capable of printing on most film stocks as well as on paper. Such innovations in ink resin technology are expected to foster the industry growth in the coming years.
Changing preference from solvent based flexographic ink to water based flexographic ink coupled with growing popularity of UV-curable ink technology in the packaging industry will present lucrative growth opportunities in the upcoming years. However, rising penetration of digital media coupled with stringent print & packaging regulations will hinder the market growth during the forecast period.
Based on resin type, the market in bifurcated into polyamides resin and others. Elaborating on the technology scope, flexographic ink market is categorized into water-based technology, UV curable technology, and solvent based technology. Speaking of the application spectrum, the industry is classified into flexible packaging, tags & labels, corrugated cardboard, and folding cartons.
Considering the geographical landscape, global flexographic ink market is split into North America, Europe, Asia Pacific, Latin America and Rest of the World, wherein Europe currently holds a considerable market share. Growth of several industries including healthcare, food & beverage, and consumer goods is supporting the industry expansion in Europe.
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Meanwhile, Asia Pacific flexographic ink market is expected to grow rapidly during the 2019-2026, owing to establishment of new facilities by major manufacturers in India, China and South Korea.
Prominent players in global flexographic ink industry are SAKATA INX Corporation, DIC Corporation, Color Resolutions International, Siegwerk Druckfarben AG & Co. KGaA, Flint Group, Toyo Ink SC Holdings Co., T&K TOKA Co. Ltd., Alden & Ott Printing Inks Company, Braden Sutphin Ink Company, and Nazdar Company Inc.