Transparency Market Research has published a new research report titled “Flexographic Printing Inks Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020” to their report store.
Albany, NY -- (SBWIRE) -- 09/07/2016 -- This information is based on the findings of a report published by Transparency Market Research titled "Flexographic Printing Inks Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2014 - 2020." According to the report, the global flexographic printing inks market is expected to rise from US$7.13 bn in 2015 to US$9.32 bn by 2020. By product, the water-based ink segment is expected to lead and account for 48.2% of the market by 2020, even though there will be a decline in its market by 1.4%. The decrease in the market share can be attributed to the growing demand for products that have lesser volatile organic compounds (VOC) content. By geography, Asia Pacific led in the past and is expected to continue to do so in the coming years. Asia Pacific is the expected to account for 39.7% of the global flexographic printing inks market by 2020. On the basis of application, the packaging segment is expected to account for 85.9% of the market by 2020.
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Surge in Packaging Industry to Boost Demand for Flexographic Printing Inks
Expansion of the food and beverages industry and the increased demand for flexible packaging in the healthcare industry are two major factors, which are anticipated to boost the demand for flexographic printing inks in the coming years. Additionally, an increase in the consumer preference for aesthetic and light weight flexible packaging is expected to propel the demand for flexible packaging. This, in turn, is further expected to augment the flexographic printing inks market in the coming years.
Flexographic inks which are used in flexographic printing have quick drying ability, resulting in an increased printing rate and better and faster printing processes. This is making flexographic printing inks popular, driving their demand.
Stringent Environmental Regulations to Restrain Market
The solvents used in the preparation of flexographic inks emit toxic fumes of VOCs during the drying process, making them harmful to the environment. The flexographic inks are thus, subjected to various environmental regulations such as Toxic Substances Control Act (TSCA) and Clean Air Act (CAA). These regulations impose restrictions on the emissions of VOCs, thus hindering the market. Players can focus on water-based inks, as the content of solvent is reduced in these inks, making them more environment friendly than solvent-based inks.
Growing Popularity of UV-cured Inks to Act as Opportunity
TMR analysts have observed that players are focusing on UV-cured inks as they do not contain any solvent and do not release VOCs, making them ideal for printing applications. UV-cured inks do not contain any volatile compounds and thus, they are expected to create large opportunities for flexographic ink manufacturers in the near future. The drying process of UV-cured inks is also faster in comparison to other flexographic inks, as they are cured through UV light and thus, will be in high demand in the near future.
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The global flexographic printing inks market is highly fragmented and characterized by new product developments with improvements in the current technology and acquisitions of smaller players in the market by global conglomerates. Acquisitions are enabling key players in the industry to expand their share in the market by acquiring assets of smaller companies, states a new report by Transparency Market Research (TMR). Moreover, it facilitates key players to expand their operations in different geographical areas with an increase in their client base. The top six players accounted for 14.2% of the market in 2013. These players are Flint Group, Sun Chemical Corporation, Toyo Ink Group, INX International Corporation (Sakata INX Corporation), ALTANA AG, and Siegwerk Druckfarben AG & Co. KGaA.
The global flexographic printing inks market is segmented as follows:
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