Flexo-Ink Market Share, Overview, Trends and COVID-19 Analysis, Forecast to 2023
Flexo-Ink Market Overview:
Market Research Future (MRFR) in their latest report on the flexo-ink market predicted growth by 5.72% CAGR during the forecast period (2015-2023). The moderate CAGR can help the market achieve surpass the expected valuation by the end of 2023. Flexo-inks are used for printing on packaging. The component is produced by blending resins, additives, pigments, surfactants, adhesion promoters, deformers, and silicones. This proper blend can curb the price significantly and provide excellent properties to the end product. These inks are available in three forms water-based, solvent-based, and UV-based. The process of manufacturing saves downtime and produces less waste which makes the end-product more cost-effective. Such an advantage has made the flexo-ink the choicest preference for many end-user industries.
The flexo-ink market can gain significant traction from the increase in label printing for packaged food and beverages. Change in lifestyle is taking the packaged food and beverages market forward. This is squarely impacting the global flexo-ink market. Integration of new technologies is also helping the market prosper. The manufacturing process is becoming simpler with each implementation of the latest technologies. The solvent-based inks are getting much thrust due to the demand generated by the flexible packaging. But the market is inflating the most due to regulations implemented by governments that are easing up the path towards profit. The market is taking special precaution against substances that are not eco-friendly to stay clear out of any future obligations regarding carbon footprint.
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Segmentation:
MRFR, for a detailed analysis of the flexo-ink market segments it by type, resin type, and end-use.
Based on the type, the global flexo-ink market can be segmented into water-based flexo, solvent-based flexo, and UV-based flexo. The solvent-based segment has the maximum market proliferation owing to its affordability and ability to deliver better results.
On the basis of resin type, the flexo-ink market can be segmented into acrylic resin, polyamide resins, polyurethane resins, vinyl resins, cellulosic resins, and others. The acrylic resin segment has much market proliferation, and it is encouraging diverse strategic plans.
Based on the end-use, the flexo-ink market can be segmented into the packaging industry, label industry, and paper industry. The packaging industry with changes in lifestyle is witnessing a substantial rise which can directly impact the market growth.
Regional Analysis:
MRFR, based on the regions, analyses the flexo-ink market by including North America, Europe, Asia Pacific (APAC), and the Rest-of-the-World (RoW).
The APAC market has control over almost 40% of the flexo-ink market with Europe and North America coming in second and third position respectively. The regional market is flourishing due to the leniency shown by regional governments in implementing VOC standards. In addition, the region has low labor cost which gives way to cost-effective production, and raw materials are available in abundance. Regional advantages such as these are major flexo-ink market promoters. Countries such as China, Japan, India, South Korea, and others with their huge population base and better logistical setups are benefitting much from the e-commerce segment which is unswervingly impacting the packaging industry.
Europe’s rise depends much on the well-developed food and beverage sector. This has triggered competition among manufacturers who are, to stay ahead of their competition, indulging much in coming up with innovative designs. This is boosting flexo-ink market growth. The U.K, France, Germany, and Switzerland are major consumers of the flexo-ink, and the regional market is going to rely much on the dominance of these countries as well.
North America has a strong food & beverage sector, and its pharmaceutical sector is also quite robust. These two factors together are driving the flexo-ink market ahead.
Competitive Landscape:
Notable players, as per MRFR, impacting the flexo-ink market are Flint Group, Toyo Ink Sc Holdings co., ltd., Sun Chemical Group, HuberGroup Deutschland GmbH, T & K Toka co., LTD., Siegwerk Druckfarben AG & Co. KGaA, and Sakata Inx Corporation among others.
Siegwerk in 2018, launched their Sicura Flex ORBIS ink Series, that is a new generation UV flexo ink which can work well with sensitive papers, film labels, shrink-sleeve applications, and unsupported films. It has high color strength and low viscosity that lend him high speed and better performance.
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