The global flexographic inks market was valued at US$ 4.6 Bn in 2017 and is anticipated to expand at a CAGR of more than 4.0% from 2018 to 2026, according to a new research report published by Transparency Market Research (TMR) titled ‘Flexographic Inks Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Flexographic inks are manufactured by using various petrochemical-derived raw materials such as carbon black, mineral oils, resins, solvents, and other intermediates.
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Flexographic inks can be used on a wide range of substrates to obtain an excellent printing quality, irrespective of the substrate material.
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Wide Usage of Flexographic Printing Technology Propels the Flexographic Inks Market
Flexographic printing is one of the most important conventional printing processes. It employs flexible printing plates to print on various substrates. Historically, flexographic printing was known as aniline printing, primarily because flexographic printing presses used inks based on aniline dyes. The flexographic printing process is mostly used to print on flexible materials including corrugated boxes, paper and plastic bags, folding cartons, milk cartons, disposable cups, tags, and labels. Printing plates employed in the flexographic printing process are made of plastic, rubber, or photopolymer. This assures high flexibility and longevity. Flexographic printing plates have raised images, which are rubbed against the substrate to produce the required image on the substrate. Flexographic inks are supplied to ink rolls through the ink reservoir. These rolls further supply the ink to anilox rolls, which monitor the ink and apply the ink in a required amount to the cylinder containing flexographic plates. These plates are pressed against the substrate to produce the required image on the substrate.
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Asia Pacific is expected to remain a highly attractive region of the global flexographic inks market during the forecast period. International players have increased their focus on Asia Pacific, as more than 50% the global population as well as emerging markets are present in the region. The market for flexographic inks in North America and Europe is more mature than that in Asia Pacific, Middle East & Africa, and Latin America.
Inorganic Growth a Key Strategy of Multinational Companies
Key manufacturers of flexographic inks include Altana AG, Zeller+Gmelin GmbH & Co. KG, Flint Group, Sun Chemical Corporation, and Toyo Ink SC Holdings Co. Ltd. Inorganic growth has been a key strategy adopted by these multinational companies over the last few years. They have increased their market penetration by developing a wide network of distributors and suppliers. This has resulted in considerable competition for local players.
Manufacturers are also focused on using different strategies for different regions. For example, in Asia Pacific, several established players have entered into strategic alliances with local players so as to consolidate their market share. In case of Middle East & Africa and Latin America, companies have focused on establishing research facilities to develop region-specific products. Manufacturers are focused on providing eco-friendly flexographic inks such as UV-cured flexographic inks in Europe and North America.
Global Flexographic Inks Market, by Type
- Water-based
- Solvent-based
- UV-cured
Global Flexographic Inks Market, by Application
- Packaging
- Flexible Packaging
- Corrugated Containers
- Folding Cartons
- Tags & Labels
- Others
- Others
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