Flexographic Ink Market to experience an impressive growth of 5.2% during 2020-2025
January 28, 2020
Flexographic Ink Market is likely to witness an impressive CAGR of 5.2% during the forecast period. The market is driven by the growing demand for flexographic ink from end-use applications, such as flexible packaging, corrugated cardboard, folding cartons, tags & labels, and others. The growth of the market is further attributed to the enhanced investments made by the key players to launch economical products, expansion, and merger and acquisition activities.
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Flexographic Ink Market Segment Insights:
By Resin Type:
Based on the resin type, the market is segmented as polyamide resins, nitrocellulose, polyurethane, acrylic resins, and others. The acrylic resins segment dominated the market owing to their extensive application in binders for paper and fiber processing, backlights for LCDs, and display windows for cell phones.
By Technology Type:
Based on the technology type, the market is segmented as water-based, solvent-based, and UV-Curable. The water-based technology dominated the market as it finds wide usage in corrugated cardboard, printing paper, plastics, and food packaging.
By Application Type:
Based on the application type, the flexographic ink market is segmented into flexible packaging, corrugated cardboard, folding cartons, tags & labels, and others. The corrugated cardboard segment is estimated to be the largest segment during the forecast period. Strong demand from packaging industries for cigarettes, healthcare products, and frozen foods are the major growth drivers for the dominance of the corrugated cardboard segment.
By Region:
Europe is estimated to be the largest market for flexographic ink during the forecast period. Increasing demand for packaging from industries, such as food & beverage, healthcare, and consumer goods is the major factor behind the dominance of Europe in the global flexographic ink market. Asia-Pacific is expected to remain the fastest-growing market for flexographic ink during the forecast period. China, Japan, Taiwan, and South Korea are the growth engines of the region, owing to the rising demand for convenient packaging from a wide array of end-use industries, such as electricals & electronics, FMCG, food & beverage, and others.
Key Players:
Some of the flexographic ink manufacturers are DIC Corporation, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink SC Holdings Co., Ltd., Sakata Inx Corporation, Flint Group, T&K Toka Co. Ltd., The Braden Sutphin Ink Company, Alden & Ott Printing Inks Company, Nazdar Company Inc., and Color Resolutions International.
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