Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Flexographic inks are printing inks used in the printing of coated & uncoated paper materials, metalized foils, and plastic films. It is produced from raw materials such as carbon black, mineral oils, resins, and solvents. It is mainly used in the printing of packaging materials and offer excellent printing quality.
The global flexographic printing inks market is projected to surpass US$ 13.5 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.5% during the forecast period (2020 to 2027).
Flexographic inks have superior drying properties that enhance the printing rate is expected to propel the market growth of the flexographic inks. The demand for flexographic inks is also gaining importance on the account of the growing need for high-speed printing processes. Thus, growing need for high-performance printing inks is projected to foster the market growth of the flexographic inks in the near future.
High demand for flexible packaging from the pharmaceutical industry is predominantly accelerating the market growth of the flexographic inks. Flexible packaging is used in the packaging of drugs and medical devices. Growing geriatric population is driving demand for healthcare facilities, thereby expanding pharmaceutical industry. Hence, growth in the pharmaceutical industry is propelling demand for flexible packaging which in turn augmenting the market growth of flexographic inks.
Regionally, Asia-pacific dominated the global flexographic printing inks market in 2019, reporting 38% market share in terms of revenue, followed by North America and Europe, respectively.
Figure 1. Global Flexographic Printing Inks Market, Revenue Share (%), By Region, 2019
Strict rules and regulations on VOC's is expected to hinder the market growth of the flexographic inks. A typical flexographic ink composition contains nearly 20% polymers, 60% solvent, 15% organic colorants and 5% additives. The solvent present in the flexographic inks emit toxic fumes of VOCs during the drying process which are harmful to the environment.
The advent of alternative printing techniques is expected to hamper the market growth of the flexographic inks. Also, the flexographic ink market is at a mature phase across the developed region such as North America and Europe due to which the market is witnessing steady growth. This is expected to restrict market growth.
Hydroxychloroquine Market Report Coverage
||Market Size in 2019:
||US$ 8.5 Bn
|Historical Data for:
||2016 to 2019
||2020 to 2027
|Forecast Period 2020 to 2027 CAGR:
||2027 Value Projection:
||US$ 13.5 Bn
- North America: U.S., Canada
- Europe: Germany, U.K., Spain, France, Italy, Russia, Rest of Europe
- Asia Pacific: China, India, Japan, Australia, Rest of Asia Pacific
- Rest of the World
- By Product Type: Water-based inks, Solvent-based inks, UV-cured inks
- By Application: Packaging, Others
Flint Group, Sun Chemical Corporation, ALTANA AG, Siegwerk Druckfarben AG & Co. KGaA, INX International Corporation, Wikoff Color Corporation, T&K TOKA Co., Ltd, Zeller+Gmelin GmbH & Co. KG, TOYO Ink Group, and RUCO Druckfarben A.M. Ramp & Co GmbH
- Growing need for high-speed printing processes
- Rise in demand for flexible packaging from the pharmaceutical industry
|Restraints & Challenges:
- Strict rules and regulations on Volatile organic compounds (VOC)
The growing use of UV-cured inks flexography printing as they do not contain any volatile compounds is projected to serve major growth opportunities to the market of flexographic ink. They have various advantages and are highly preferred over conventional printing. UV-cured inks are also gaining momentum on the account of the growing demand for VOC-free printing inks this in turn is propelling the market growth of flexographic ink.
Rapid urbanization coupled with the increasing population is expected to provide lucrative opportunities. Rise in the food &beverage packaging due to the growing demand for food is also expected to foster the market growth. Moreover, increasing popularity of aesthetic packaging is also projected to bolster the market growth of the flexographic ink over the forecast period.
Figure 2. Global Flexographic Printing Inks Market – Opportunity Analysis
Product innovation by major players is a major trend in the market of flexographic ink. For instance, in August 2019, Sun Chemical launched SolarVerse, a new range of UV flexo base concentrates, at Labelexpo in Belgium. The range includes a range of standard and resistant pigments that cover a broad color range. The technology is intended to increase ink system flexibility and to be easily dispensed through a standard UV flexo dispenser.
Improving standard of living coupled with the growing upper-middle populations across the developing region has propelled the growth of the various end-user industries, this is, in turn, is expected to foster the market growth. According to the United Nations, 68% of the world population is projected to live in urban areas by 2050. Thus, growth in the urban population is anticipated to propel the market growth over the forecast period.
Figure 3. Global Flexographic Printing Inks Market, Revenue Share (%), By Product Type, in 2019
On the basis of product type, water-based inks the global flexographic printing inks market in 2019 with around 41% of market share in terms of revenue, followed by UV-cured inks and solvent-based inks, respectively.
Global Flexographic Printing Inks Market - Impact of Coronavirus (Covid-19) Pandemic
Measures such as nationwide lockdown owing to Coronavirus (Covid-19) Pandemic have led panic buying of food and hygiene products. For instance, Kraft Heinz Company’s net sales increased by 3.3% in first quarter of 2020 as compared to first quarter of 2019, primarily attributed to the sudden in the segment of packaged food due to the pandemic. This is expected to boost the growth of global flexographic printing inks market for timeframe of 2021-2022.
Key players are operating in the global flexographic printing inks market are Flint Group, Sun Chemical Corporation, ALTANA AG, Siegwerk Druckfarben AG & Co. KGaA, INX International Corporation, Wikoff Color Corporation, T&K TOKA Co., Ltd, Zeller+Gmelin GmbH & Co. KG, TOYO Ink Group, and RUCO Druckfarben A.M. Ramp & Co GmbH
Few Recent Developments
In April 2019, Flint Group has released the nyloflex XAH Digital plate. The new flexographic plate is formulated with a special AIF technology that keeps plates cleaner on the press and results in faster print runs with fewer press stops.