Flexographic Printing Inks Market Analysis

Flexographic Printing Inks Market Analysis

Water-based flexographic inks led the market share accounting over 45% of the overall flexographic printing inks market size in 2017. Water-based inks are broadly used in paper, newspaper and cardboard printing. Increasing non VOC based inks demand is considered to be the major factor propelling the industry size for the product in the coming years. Furthermore, favoring government norms towards low VOC product along with low cost and abundant availability of water (as a solvent) will further augment the flexographic printing inks market size by 2024.
 

Solvent-based flexographic printing inks market registered more than USD 2.5 billion in 2017. These inks provide high durability and are compatible with a large variety of substrates. Additionally, these inks provide scratch resistance and superior printing rate properties. These value-added product characteristics makes it preferred across packaging applications. Nevertheless, stern regulations from FDA and EPA towards VOC contents and emissions may hamper growth for the product.

The flexographic printing inks market for flexible packaging applications recorded a CAGR over 4.5% in the projected timeframe. Strong flexible packaging industry growth on account of escalating end-user industries such as food & beverage, pharmaceutical and cosmetics will subsequently boost the global flexographic inks market share in the coming years. Flexible packaging manufacturers are introducing digital and innovative printing techniques to expand their industry share. For instance, Skratch Lab redesigned its entire product portfolio with new digitally-printed and highly functional packaging creates for a more attractive shopping and user experience for fitness enthusiasts. It demonstrates superior characteristics including sealing, strength, aroma retention and barrier against moisture. Moreover, it also plays an important role in improving exterior aesthetics, product differentiation, expanding the global flexographic printing inks by 2024.
 

Asia Pacific led the total flexographic inks market and accounted for more than 35% of the industry size in 2017. Changing consumer lifestyle dynamics has significantly propelled the foremost end-user industries such as pharmaceuticals, cosmetics and food & beverage. These abovementioned industries necessarily require the product for packaging applications in order to gather customer attention by making the product look attractive. Additionally, increasing spending power of population in China and India will stimulate the regional industry size over the estimated timeframe.
 

Europe flexographic printing inks market share is projected to grow at a CAGR more than 3.5% by 2024. Prevalence of strong cosmetic manufacturing and consumption in the European countries including France and Germany is the major factor contributing the flexographic printing inks market size in the region.