LOS ANGELES, May 08, 2019 (GLOBE NEWSWIRE) -- The global Flexographic Inks Market is estimated to grow at CAGR above 3.7 % over the forecast time frame 2019-2026 and reach the market value around USD 6.5 billion by 2026.
Packaging is seen as a very important marketing aspect that affects the buying decision of the consumer. The packaging sector is a major printing ink consumer. In the coming years, demand for flexographic ink is expected to rise in the food and beverage sectors, and demand is increased for flexible packaging from the healthcare sector.
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There is a significant increase in the trend in e-commerce worldwide. The publication and business printing industry is being hindered. Thus, the global flexographic inks market is estimated to decrease substantially over the forecast period in paper-based communication. E-books, event tickets, sporting products, toys, hotel and airline reservations are part of the trend for e-commerce. In particular, increasing e-books are expected to hamper the global market for flexographic inks during the forecast period.
Market Stance
The flexographic tin market has been divided into solvent-based inks, water-based inks and UV-curved inks. The water-based ink sector was the world's largest market share in 2017. Inks on water contain water, together with glycol, as their main constituent. These inks are more environmentally friendly than flexographic inks based on solvents. The demand for flexographic inks based on water is growing globally due to rigorous environmental regulations.
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UV-treated inks contain no volatile compounds, however, and are therefore used for several printing applications such as printing, inkjet printing, and flexographic printing. They offer various advantages over standard printing inks. As a consequence of the increasing number of regulations imposed on the use of VOC emitting inks the demand for VOC-free printing inks is increasing. Moreover, the demand for UV-treated flexographic inks in the next few years are projected to be boosted by strict monitoring of uses for toxic chemicals with high vampir pressure at room temperature and government investments in the renewable energy sector.
The market for flexographic inks was classified as packaging and others in terms of application. The remaining segment includes journals, magazines and reviews. The segment of packaging was divided into flexible packaging, onions, folding boards, tags and labels, and others. The packaging sector held the world market leader in 2017. A leading consumer of ink printing is the packaging industry. The rise in demand for food & beverage flexible packaging is predicted to fuel the packaging segment of the global flexographic inks market during the forecast period due to lower weight and better aesthetics.
In 2018, the packaging sector of the global flexographic inks segment dominated the flexible packaging sub-segment and followed by the corrugated container sub-segment. In applications such as flexible packaging and corrugated containers, flexographic inks are commonly used with the latter being used primarily within the food and beverage sector. In boxes, folders, labeling and newspapers, flexographic inks are also used.
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Key Players & Strategies
Zeller+Gmelin GmbH & Co., Altana AG, are the leading manufacturers of flexographic inks. Toyo Ink SC Holdings Co., Sun Chemical Corporation. Ltd., KG, Flint Group, These multinationals have been pursuing a key strategy of inorganic growth for the past years. By developing a broad network of distributors and suppliers, they have increased their market penetration. The competition for local players has been considerable.
Manufacturers also focus on using various strategies for various regions. In Asia Pacific, for example, a number of well-known actors have formed strategic alliances with local players to strengthen their market share. Companies focused on establishing research facilities for the development of regional products with regard to the Near East, Africa and Latin America. Flexographic inks such as UV cured inks in Europe and North America are a priority supplement for manufacturers. They are environmentally friendly.
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