WELLESLEY, Mass., Oct. 09, 2017 (GLOBE NEWSWIRE) -- The versatility, rapid production and lower costs associated with flexographic printing are driving growth in the global market for flexographic inks. The robust growth of the packaging industry is projected as a major driver of the flexographic inks market as developing economies in China, India, Thailand and Saudi Arabia push the demand for more packaging materials, which in turn, increases the demand for flexographic inks. BCC Research projects the global market for the flexographic inks to reach $10.3 billion and $13.1 billion in 2017 and 2022, respectively, with a 5.0% CAGR.
According to Flexographic Inks: Technologies and Global Markets , flexographic inks are transferred by the process of flexography, and they are primarily used in the printing of packaging materials such as cardboard boxes, corrugated cardboard boxes, paper, plastic bags, flexible materials used in food packaging, catalogs and newspaper printing. The inks and the printing methods are gaining popularity due to low costs and environmentally friendly characteristics. An important feature in flexography printing is fast production. Because the printing process uses low viscosity, fast-drying inks, the cleanup processes are quicker. Additionally, the high-volume and high-speed production in flexography printing make this printing process significantly cheaper.
The flexographic ink market is highly fragmented; six of the top manufacturers accounted for 25% of total market share (2016). DIC Corp., the largest market player, accounted for a 9.2% market share, followed by Toyo Ink SC Holdings with a 6.7% market share and the Flint Group with a 6.2% market share. The Huber Group, Sakata INX. and Siegwerk Group accounted for 4.5%, 3.5%, and 3.1%, respectively, of the global flexographic inks market in 2016.
Research Highlights
- The Asia-Pacific region, the largest producer of ink worldwide, totaled an estimated $6.5 billion of the $20 billion global ink business (2016).
- Economic expansion, coupled with population growth and increasing disposable incomes, are fueling the retail sector in the developing economies.
- The increase in digital media advertisements is expected to significantly restraint market growth.
“A few of the greatest advancements in flexographic printing recently have been in the area of photopolymer printing plates, plate materials, methods of plate creation and inks,” said Kevin Fitzgerald, BCC Research editorial director. “Aashi Photoproducts, AV Flexographic, Dupont, MacDermid and BASF & TOK have been pioneers in advancing these technologies.”
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming@bccresearch.com .
About BCC Research
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