Flexographic printing inks market held a revenue exceed by USD 11 billion in 2024

Flexographic Printing Inks Market is on the verge of a significant drift due to the expanding packaging industry. Rising flexible packaging operations, owing to its broad spectrum of application is likely to favor the industry trends over the coming years. Flexographic printing technique has gained massive popularity as it is compatible with many substrates. Packaging is extensively used in all the industries including pharmaceuticals, food & beverage, cosmetics & personal care which is boosting flexographic printing inks industry.

According to Global Market Insights, Inc., “Flexographic Printing Inks Market is estimated to surpass USD 11 billion by 2024 and grow at an annual rate of 5% over the period of 2016-2024.”

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On the basis of products, the flexographic printing inks industry is segmented into solvent-based, water- based, and UV-curved type. In 2015, water-based flexographic printing inks market led the overall industry, owing to its wide use in cardboard printing, newspaper printing, and paper printing. Water-based product market is poised to see fast-paced growth due to favorable government regulations regarding the usage of low volatile organic compound-based inks. Solvent-based and UV-curved product are particularly preferred across the cosmetic and food packaging sectors.

APAC flexographic printing inks industry is expanding rapidly, having had over 35% of the total volume in 2015. Changing consumer lifestyle has positively impacted the end-user industries in the region. In addition to this, shifting focus of the pharmaceutical manufactures toward developing economies such as India and China, due to rise in per capita income of the middle-class population and favorable government norms will stimulate regional flexographic printing inks market.

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Europe is another prominent region witnessing considerable gains at a CAGR of 4.5% over 2016-2024. France and Germany are leading the regional growth. Huge deployment of cosmetic manufacturing units will boost the growth of flexographic printing inks industry.

Escalating end-use industry comprising cosmetics, food & beverage, and pharmaceutical sectors will generate heavy demand for flexible packaging. The packaging application includes printing on flexible packaging, metal cans, corrugated containers, tags & labels, and folding cartons. Excellent characteristics such as moisture resistance, sealing, appealing aesthetic, and aroma preservation will significantly impact the product demand by 2024.

Notable participants in flexographic printing inks industry include INX International Ink Co., XSYS Print Solutions Zhongshan Dic Colour Co., Ltd., Sun Chemical, Flint Group, TOYO Ink, INX International, Altana Chemicals company, TOKA, and Taiyuan Coates Lorilleux Chemicals Ltd.

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