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Global Flexographic Ink Market Is Estimated To Reach $16 Billion By 2025
Global flexographic ink market report published by Accurize Market Research forecast that the global market is expected to reach $16 billion by 2025; growing at a CAGR of 4.7% from 2017 to 2025. By geography, the Asia Pacific and North America are expected to grow at a CAGR of XX% and XX%, respectively, during the forecast period.
Rising demand from the packaging industry to drive the growth of the market
Mounting demand for UV-cured printing inks and expanding the packaging industry fuel the demand for the global flexographic ink market. Moreover, increasing population & consumer expenditure also boosts the growth of the market.
The global flexographic ink market has been bifurcated on the basis of resin type, technology, end-use industry, and geography. The resin type segment comprises polyurethane, nitrocellulose, polyamide, acrylic, and other resins. By technology, the market is categorized into solvent-based technology, water-based technology, and UV based technology. Further, the market is bifurcated by the end-use industry into rigid packaging, flexible packaging, tags and labels, and paper printing.
By geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). North America is further bifurcated into the U.S., Canada, and Mexico whereas Europe segment consists of the UK, Germany, France, Russia, and the Rest of Europe. Asia-Pacific is segmented into India, China, Japan, and the Rest of Asia-Pacific while RoW is bifurcated into South America, the Middle East, and Africa.
“Acrylic accounted for the largest market share in the resin type segment", says Accurize
By resin type segment, Acrylic accounted for the largest market share in 2017 and is expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to the preference of acrylic resins compared to other resins due to their properties including excellent solvent resistance, good plasticizer resistance, high flexibility, as well as impact resistance.
“Water-based technology accounted for the largest market share in the technology segment ", says Accurize
By the technology segment, water-based technology accounted for the largest market share in 2017 and is expected to continue its dominance during the forecast period 2017 – 2025. The growth is attributed to the properties of water-based flexographic inks including low VOC emissions, less flammability, environment-friendliness, & stable viscosity. Moreover, flexible packaging accounted for the largest market share in 2017, in the end-use industry segment, and is expected to continue its dominance during the forecast period 2017 – 2025. The growing preference for packaged goods among customers is the major driving factor for the growth of this segment.
“North America dominated the global market with the highest market share over the forecast period", says Accurize
In 2017, North America dominated the global market with the largest market share of 36% and is expected to continue its dominance during the forecasted period. The growth is attributed to the increasing use of packaging for food & beverages as well as personal care products in the region.
Top players in the market
The key market players include Wikoff Color Corp., INX International Ink Co., DIC Corporation, T&K Toka Co., Ltd., Siegwerk Druckfarben AG & Co. KGaA, Sakata Inx, Toyo Ink SC. Holdings Co. Ltd., Flint Group, Zeller+Gmelin GmbH & Co. KG, and Altana AG, among others.
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