Albany, NY -- (SBWIRE) -- 12/13/2018 -- The global flexographic printing inks market is foretold in a report authored by Transparency Market Research (TMR) to show a significantly competitive and fragmented nature. This could be due to the presence of a telling count of large, medium, and small-scale retailers, suppliers, and producers. A mere 35.0% share of the global flexographic printing inks market was held by Flint Group, Toyo Ink SC Holdings, Sun Chemical Corp., and Siegwerk Druckfarben in 2016. In order to tap into growth prospects available in unexplored regions, companies are trying their best to expand their presence geographically.
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TMR projects the global flexographic printing inks market to reach a valuation of US$10.91 bn by the end of the forecast period 2017-2025 as it logs a 5.80% CAGR. In 2016, the global flexographic printing inks market was worth a US$6.56 bn. Among products, water-based inks are forecast to collect higher demand in the global flexographic printing inks market. Regionally, Asia Pacific could show dominance in the flexographic printing inks market. The region held a 37.0% share of the flexographic printing inks market in 2016.
High Demand for Packaged Food Products to Promise Growth
The vast expansion of the packaging industry is envisioned to catapult the global flexographic printing inks market. Increase in the need for packaging products because of the growth of the demand for packaged foods could work in the favor of the global flexographic printing inks market. On the other hand, the strong rise of the consumer goods industry and massive increase in the number of international exports and imports are predicted to set the tone for significant growth of the global flexographic printing inks market.
The demand in the global flexographic printing inks market could be encouraged by the packaging industry as the rising pace of technological development in relation to product designs and materials shows promise. The need for proper labeling and detailed product information on the packaging is expected to provide tailwinds to the global flexographic printing inks market. High demand for water-based solutions in the global flexographic printing inks market owing to the need for eco-friendly products in today's time could also bode well.
Solvent-based Inks Increasing VOC Emissions to Restrain Market
The global flexographic printing inks market is prophesied to see expansion in the next few years. However, there are certain factors that could slow down the growth of the global flexographic printing inks market. For instance, increasing digitalization and high emission of VOCs due to the use of solvent-based inks are forecast to hamper the demand in the global flexographic printing inks market.
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Nonetheless, there could be lucrative prospects coming by as consumer spending and population growth continue to increase. Moreover, the swelling demand for UV-cured printing inks is prognosticated to propel the growth of the global flexographic printing inks market.
The information presented here is based on a TMR report titled "Flexographic Printing Inks Market (Product - Water-based Inks, Solvent-based Inks, and UV-cured Inks; Application - Packaging (Flexible Packaging, Corrugated Containers, Folding Cartons, Tags and Labels, and Metal Cans) and Newspaper Printing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025."