Flexographic Printing Inks Market (Water-based, Solvent-based and UV-cured) for Packaging and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Albany, NY -- (SBWIRE) -- 12/31/2014 -- Flexographic printing inks are a category of inks that are applied through flexology. The name comes from the flexible relief plate used in the process. Almost any substrate can be used in flexography and the process is particularly popular with non-porous substrates. Due to this, flexographic printing inks enjoy a consistent and rising demand from the packaging industry, since metal, cellophane, or plastics are all suitable for the application of flexographic inks. Corrugated metalwork, metal cans, metal tags and labels, and folding cartons are just a few of the products in which flexographic printing inks are used.
Segmentation of the Flexographic Printing Inks Market
The global flexographic printing inks market is divided by type of ink and geography.
Water-based flexographic inks are the dominant category of flexographic printing inks and hold a 40% share in the worldwide market. They contain less VOC (volatile organic chemicals) than the other categories, which makes them more environment-friendly. Water-based flexographic inks are expected to maintain their high share of the market.
However, UV-curable inks will be the fastest growing category due to the increasing amount of research performed in it and an increasing number of opportunities. Soluble-based flexographic printing inks, the third category of flexographic printing inks, are not expected to experience any major boosts or reversals.
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Geographically, the flexographic inks market is divided into four categories: North America, Europe, Asia Pacific, and Rest of World. The rising rate of development of countries in the Asia Pacific has made it the largest regional market for flexographic printing inks, with a 35% share in the global market in 2013. It is expected to maintain its top position and be the fastest growing segment as well. The North American and European markets were hurt by the recent economic troubles in both regions, but both are now steadily approaching strong positions.
Like developing countries in the Asia Pacific, the steady development of Latin American countries such as Argentina and Brazil, and African countries such as South Africa, Algeria, and Libya, is expected to make Rest of World one of the fastest growing regional markets for flexographic printing inks.
Drivers and Restraints of the Flexographic Printing Inks Market :
The packaging industry is expected to be the highest driver of the flexographic printing inks market. The packaging industry, encompassing such disparate products as metal cans and folding cartons, held an 80% market share in flexographic printing inks in 2013. The increasing development of countries in Asia, Africa, and South America is expected to boost the demand for consumer goods in those countries, helping the flexographic printing inks market.
The only major constraint expected to hinder the flexographic printing inks market is the expected censure of environmentally unsafe VOCs, or volatile organic compounds. These compounds are used extensively in many human products, and are harmful to the environment as well as our own health if they are allowed to accumulate over a long period of time. Hence, there are strict regulations on VOCs in many countries, the terms of which are expected to get more stringent. Water-based flexographic printing inks, which use the least VOCs, will benefit from these environmental regulations and will become the fastest growing market segment.
Increasing research and emergence of opportunities in UV-curable flexographic inks will also drive up that segment.
Major Players of the Global Flexographic Printing Inks Market
The report covers major companies in the worldwide flexographic printing inks market such as ALTANA AG, Sun Chemical Corporation, Siegwerk Druckfarben AG & Co. KGaA, INX International Corporation, Flint Group, etc.
The global flexographic printing inks market had a value of US$6.41 billion in 2013. The market is expected to expand at a CAGR of 5.5% from 2014 to 2020, and reach an estimated valuation of US$9.32 billion.
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