Global Flexographic Inks Market is projected to grow between 2018 and 2024
The recent study, titled, “Global Flexographic Inks Market – Forecasts from 2018 to 2023”, covers an in-depth analysis of the market on the basis of type, application, and geography. The report also covers the country level analysis within the regions as well. Additionally, the report covers the key trends in the market along with drivers and restraint during the forecast period 2019-2024. The report has segmented the flexographic inks market by type (water based, solvent based, UV based, oil based), application (flexible packaging, corrugated cardboard, labels and tags, folding cartons, pharmaceutical, others), and geography (North America, South America, Europe, Middle East and Africa, and Asia Pacific). Flexographic inks are inks transferred by the process of flexography which is widely used in the printing of packaging materials. Printing on rough materials, high speed, fast drying, and lower costs are the major factors that are driving the demand for flexographic inks in the corrugated packaging industry. With the advancement in printing innovation and packaging fast becoming a key part of the brand promotion, the demand for flexographic inks is increasing. Rising disposable income across the globe is leading to increased spending on goods that are boosting the demand for packaging so as to ensure the quality of the products. Thus, the market is expected to grow at a steady rate owing to growing flexible and corrugated packaging in both developed and developing countries.
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Water-based holds a significant share in the market
Water-based flexographic inks hold a significant share in the market as they are widely used in the corrugated packaging industry on account of having highest surface tension among all of the ink types. They have exceptional film adhesion, excellent bond strength, and excellent water resistance. The burgeoning use of corrugated packaging in food packaging on account of ease of transportation and recyclability is expected to drive the demand for water-based flexographic inks.
Flexible Packaging holds a significant share in the market and is expected to grow at a good CAGR over the forecast period.
Flexible packaging holds a significant share in the market is owing to different types of inks being used in flexible packages. Solvent-based inks are used for plastic films. Electron Beam (EB) inks are rapidly penetrating the flexible packaging market on account of growing preference towards products that are 100% free from Volatile Organic Compound. Thus, burgeoning demand for flexible packaging is expected to boost the flexographic ink market.
The Asia Pacific is expected to show substantial growth over the forecast period.
The Asia Pacific flexographic inks market is expected to grow at a substantial rate owing to the growing packaging industry. Increasing consumer spending for the purchase of goods and services is leading to an increased demand for good quality packaging which in turn is expected to bolster the demand for flexographic inks in the region.
Some of the major players discussed in the reports are TOYO INK CO. LTD., Sun Chemical, FlintGroup, Siegwerk Druckfarben AG& Co. KGaA, INX International Ink Co., Zeller+Gmelin Corporation, UVitec Printing Ink, Inc., Needham Inks Ltd, and Sakata Inx (India) Private Limited.
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