Flexographic Printing Inks Market Size

Flexographic Printing Inks Market Size

Flexographic Printing Inks Market size was over USD 10 billion in 2017 and will witness a CAGR more than 4.5% between 2018 and 2024./p>

Flexographic printing inks market size will be majorly driven by the positive growth in the packaging industry. Mounting commercialization of flexible packaging owing to its widespread application across various consumer items will directly propel the flexographic inks size over the projected period. Food packaging industry in Asia Pacific has shown a surge of 30% in the recent years. Packaging manufacturer such as Tetra Pak had announced in 2017 to open a USD 26 million facility in Thailand to capture the region’s rapid packaging industry growth. Packaging is extensively used in cosmetics, food & beverages, pharmaceuticals and personal care products. It is a key marketing tool that fuels the purchasing decision of the customer. It increases the aesthetic appearance, offers product differentiation and also enhances the company’s brand image. Moreover, strong growth in these aforementioned industries, particularly due to improved consumer spending will eventually augment the flexographic printing inks market size by 2024./p>

The flexographic ink posses volatile organic compounds (VOCs) and therefore it is stringently administered by the FDA regulations for packaging applications across food & beverage and cosmetic industry. This may prove to be a hindrance in the flexographic inks market size over the estimated timespan. However, the product delivers efficient drying characteristics, which offers improved and swift printing rate. It is also required for high-speed printing processes due to its tendency to firmly follow the printing surface which will propel the industry size in the near future./p>