Flexographic Inks Market Overview
Flexographic inks market size is forecast to reach US$13.2 billion by 2027, after growing at a CAGR of 5.2% during 2022-2027. Flexographic ink is a type of ink that is transferred through the flexography process and is commonly used in the printing of packaging. Flexographic ink majorly utilizes the latest LED technology with resins such as polyamide resins, acrylic polymer, and more because when compared with traditional vacuum distillation technology, it decreases maintenance cost, reduces wastages, and more. This results in reducing the final cost of the flexographic ink. The flexographic inks industry is primarily driven by the growth of the packaging application across various industries such as food and beverage, pharmaceuticals, and more such industries, this is ultimately benefiting the flexographic inks market growth.
COVID-19 Impact
The packaging industry was majorly impacted by the Covid-19 pandemic in 2020 because due to the import and export regulations the essential substrates supply such as paper and paperboard was significantly impacted. For instance, according to the International Trade Centre (ITC), in the year 2020, the global paper and paper board exports were valued at US$1540.3 million, with a decline of 14.7%. Also, the worldwide imports of paper and paperboard were US$1306.14 million, with a decline of 6.7%. Thus, such a decline in imports and exports of paper and paperboard resulted in a decline in paper packaging, and owing to this the flexographic inks market suffered losses. However, in 2021 to reduce the negative impact of the Covid-19 pandemic, the economies at the global level promoted a rise in production activities. This increased the production activities across industries, which further enhanced the flexographic inks market growth. Additionally, it is projected that the Covid-19 pandemic scenario will subdue during the upcoming years. As a result, the flexographic inks industry growth scenario will be similar to the pre-Covid time.
Report Coverage
The report: "Flexographic Inks Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Flexographic Inks Industry.
By Classification: Volatile Inks and Energy Curable Inks
By Formulation: Water Based, Solvent Based, UV Curable, Electron Beam (EB) Based, Oil Based, and Others
By Resin Type: Polyurethanes, Acrylic polymer, Polyamides, Nitrocellulose, Epoxy, and Others
Substrate: Paper, Laminates, Film, Foils, and Others
By Application: Packaging (Flexible Packaging, Rigid Packaging, and Semi-Rigid Packaging), Tags and Labels, Commercial Printing (Newspapers, Catalogues, and Others), and Others
By End-Use Industry: Food and Beverage (Confectioneries, Bakery, Coffee, Non-Alcoholic Beverages, and Others), Medical and Healthcare (Pharmaceuticals and Medical Devices), Consumer Electronics (Television, Smartphone, Refrigerator, Washing Machines, and Others), Home and Personal Care (Skincare, Haircare, Cosmetics, Lip Care, and Others), and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East (Saudi Arabia, UAE, Israel, and Rest of Middle East), and Africa (South Africa, Nigeria, and Rest of Africa))
Key Takeaways
- Asia-Pacific region dominated the flexographic inks market, owing to the growing food processing industry in the region, which accelerated the demand for packaging. For instance, according to the Invest India, the Indian food processing sector has grown at an average annual rate of roughly 11.18% over the last five years, ending in 2019-20.
- The use of water-based flexographic ink is increasing as these inks reduce moisture and solar radiation absorption, thereby, resulting in fewer solvent emissions. This is further benefiting the market growth.
- The increasing research and development related to flexographic inks are projected to create an opportunity for the flexographic inks market expansion.
- However, the growing regulations related to the utilization of VOC content in solvent-based flexographic inks are restricting the growth of the market.
Figure: Asia-Pacific Flexographic Inks Market Revenue, 2021-2027 (US$ Billion)
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Flexographic Inks Market Segment Analysis – By Application
The packaging segment held the largest share in the flexographic inks market in 2021 and is forecasted to grow at a CAGR of 5.8% during 2022-2027. Flexographic ink is employed in the packaging because flexographic ink with the presence of polyamide resins, acrylic polymer, or others has superior print stability, color display, and more. This results in enhancing the printed content appearance and strengthens the durability of the external packaging printed contents. The growing packaging sector is propelling the demand for flexographic inks, which is further enhancing the growth of the market. For instance, as per the recent data issued by Interpack in 2020, the global packaging industry is predicted to increase at a 3.5 percent annual rate from 2020 to 2024. Hence, flexographic inks increasing application in packaging is propelling the growth of the market.
Flexographic Inks Market Segment Analysis – By End-Use Industry
The food and beverage segment held the largest share in the flexographic inks market in 2021 and is forecasted to grow at a CAGR of 6.3% during 2022-2027. In the food and beverage sector flexographic ink composed of acrylic polymer is utilized to increase the durability of the crucial external information print outside the food and beverage packaging. This protects the information such as labels, ingredient information, product description, and more. The growing food and beverage sector is propelling the growth market. For instance, according to the Food and Drink Federation of the United Kingdom (FDF), total food and beverage manufacturing in 2018 was US$33 billion, and it climbed by 3.6 percent in 2019 to US$34.2 billion. Hence, the expanding food and beverage industry will accelerate the demand for packaging, this is expected to accelerate the flexographic inks market growth during the projected forecast period.
Flexographic Inks Market Segment Analysis – By Geography
Flexographic Inks Market Drivers
Growing Commercial Printing Application
Increasing Labels Application
Labels utilize flexographic ink to enhance the durability of the printed information because labels are vital for companies to provide crucial information and instructions to consumers. The demand for labels is increasing as the production of cosmetics, pharmaceuticals, and more is increasing, which is resulting in the increasing application of the label. This is further leading to enhancing the growth in the demand for flexographic inks, thereby, propelling the growth of the market. For instance, according to the data published by International Trade Administration (ITA), South Korea is one of the world's top ten beauty markets, accounting for about 2.8 percent of global sales. The market was predicted to be worth US$9.4 billion in 2019, with total local production increasing by 4.9 percent over the previous year. Moreover, according to data from the European Federation of Pharmaceutical Industries and Associations, total medicines production in Europe in 2020 was €310 billion (roughly US$354.08 billion), marking a 5.7 percent increase over 2019. Hence, the application of labels is increasing due to the increasing cosmetics and pharmaceuticals production is expected to fuel the market growth, also driving the growth of the flexographic inks market during the projected forecast period.
Flexographic Inks Market Challenges
Availability of Alternative Inks
Flexographic ink composed of resins including polyamide resins, acrylic polymer, and more is one of the majorly used inks across the world because, during the curing phase, they are less subject to external factors such as temperature and humidity. However, the availability of alternative inks specifically lithographic ink has superior performance advantages, which is restricting the flexographic inks market growth. Furthermore, lithographic ink has brilliant colors and details for large-volume tasks, as well as excellent printing quality with fewer stages of printing when compared with flexographic inks. Thus, the availability of alternative inks such as lithographic ink with superior printing qualities is creating a bottleneck for the growth of the flexographic market.
Flexographic Inks Industry Outlook
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the flexographic inks market. Flexographic inks top 10 companies include:
- Sun Chemical Corp.Inc.
- Siegwerk Druckfarben AG & Co. KGaA
- DIC Corporation
- Flint Group
- Zeller+Gmelin GmbH & Co.
- RUCO Druckfarben
- T&K TOKA Corporation
- Wikoff Color Corporation
- INX International Ink Co.
- Sakata Inx (India) Pvt. Ltd.
Recent Developments
- In December 2020, INX International Ink Co. merged all of its South American operations with parent company INX do Brasil. The merger of the flexographic inks division was also done by the company.
- In October 2020, Poteet Printing Systems LLC, based in Charlotte, North Carolina, was acquired by Flint Group Packaging Inks. This also included the acquisition of flexographic inks business.
- In June 2020, INX International Ink Co acquired RucoDruckfarben, a flexographic printing ink manufacturer based in Eppstein, Germany.
Relevant Reports
LIST OF TABLES
1.Global Flexographic Inks Market Analysis, by Type Market 2019-2024 ($M)2.Global Flexographic Inks Market Analysis, by Resin Market 2019-2024 ($M)
3.Global Competition Landscape Market 2019-2024 ($M)
3.1 Sun Chemical Corporation Market 2019-2024 ($M) - Global Industry Research
3.2 Flint Group Market 2019-2024 ($M) - Global Industry Research
3.3 Wikoff Color Corporation Market 2019-2024 ($M) - Global Industry Research
3.4 Siegwerk Druckfarben AG Co. KGaA Market 2019-2024 ($M) - Global Industry Research
3.5 Toyo Inc. SC Holdings Co. Ltd. Market 2019-2024 ($M) - Global Industry Research
3.6 INX International Inc. Co. Market 2019-2024 ($M) - Global Industry Research
3.7 Huber Group Market 2019-2024 ($M) - Global Industry Research
3.8 Altana AG Market 2019-2024 ($M) - Global Industry Research
3.9 TK Toka Co., Ltd. Market 2019-2024 ($M) - Global Industry Research
3.10 Zeller+Gmelin GmbH Co. KG Market 2019-2024 ($M) - Global Industry Research
4.Global Flexographic Inks Market Analysis, by Type Market 2019-2024 (Volume/Units)
5.Global Flexographic Inks Market Analysis, by Resin Market 2019-2024 (Volume/Units)
6.Global Competition Landscape Market 2019-2024 (Volume/Units)
6.1 Sun Chemical Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
6.2 Flint Group Market 2019-2024 (Volume/Units) - Global Industry Research
6.3 Wikoff Color Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
6.4 Siegwerk Druckfarben AG Co. KGaA Market 2019-2024 (Volume/Units) - Global Industry Research
6.5 Toyo Inc. SC Holdings Co. Ltd. Market 2019-2024 (Volume/Units) - Global Industry Research
6.6 INX International Inc. Co. Market 2019-2024 (Volume/Units) - Global Industry Research
6.7 Huber Group Market 2019-2024 (Volume/Units) - Global Industry Research
6.8 Altana AG Market 2019-2024 (Volume/Units) - Global Industry Research
6.9 TK Toka Co., Ltd. Market 2019-2024 (Volume/Units) - Global Industry Research
6.10 Zeller+Gmelin GmbH Co. KG Market 2019-2024 (Volume/Units) - Global Industry Research
7.North America Flexographic Inks Market Analysis, by Type Market 2019-2024 ($M)
8.North America Flexographic Inks Market Analysis, by Resin Market 2019-2024 ($M)
9.North America Competition Landscape Market 2019-2024 ($M)
9.1 Sun Chemical Corporation Market 2019-2024 ($M) - Regional Industry Research
9.2 Flint Group Market 2019-2024 ($M) - Regional Industry Research
9.3 Wikoff Color Corporation Market 2019-2024 ($M) - Regional Industry Research
9.4 Siegwerk Druckfarben AG Co. KGaA Market 2019-2024 ($M) - Regional Industry Research
9.5 Toyo Inc. SC Holdings Co. Ltd. Market 2019-2024 ($M) - Regional Industry Research
9.6 INX International Inc. Co. Market 2019-2024 ($M) - Regional Industry Research
9.7 Huber Group Market 2019-2024 ($M) - Regional Industry Research
9.8 Altana AG Market 2019-2024 ($M) - Regional Industry Research
9.9 TK Toka Co., Ltd. Market 2019-2024 ($M) - Regional Industry Research
9.10 Zeller+Gmelin GmbH Co. KG Market 2019-2024 ($M) - Regional Industry Research
10.South America Flexographic Inks Market Analysis, by Type Market 2019-2024 ($M)
11.South America Flexographic Inks Market Analysis, by Resin Market 2019-2024 ($M)
12.South America Competition Landscape Market 2019-2024 ($M)
12.1 Sun Chemical Corporation Market 2019-2024 ($M) - Regional Industry Research
12.2 Flint Group Market 2019-2024 ($M) - Regional Industry Research
12.3 Wikoff Color Corporation Market 2019-2024 ($M) - Regional Industry Research
12.4 Siegwerk Druckfarben AG Co. KGaA Market 2019-2024 ($M) - Regional Industry Research
12.5 Toyo Inc. SC Holdings Co. Ltd. Market 2019-2024 ($M) - Regional Industry Research
12.6 INX International Inc. Co. Market 2019-2024 ($M) - Regional Industry Research
12.7 Huber Group Market 2019-2024 ($M) - Regional Industry Research
12.8 Altana AG Market 2019-2024 ($M) - Regional Industry Research
12.9 TK Toka Co., Ltd. Market 2019-2024 ($M) - Regional Industry Research
12.10 Zeller+Gmelin GmbH Co. KG Market 2019-2024 ($M) - Regional Industry Research
13.Europe Flexographic Inks Market Analysis, by Type Market 2019-2024 ($M)
14.Europe Flexographic Inks Market Analysis, by Resin Market 2019-2024 ($M)
15.Europe Competition Landscape Market 2019-2024 ($M)
15.1 Sun Chemical Corporation Market 2019-2024 ($M) - Regional Industry Research
15.2 Flint Group Market 2019-2024 ($M) - Regional Industry Research
15.3 Wikoff Color Corporation Market 2019-2024 ($M) - Regional Industry Research
15.4 Siegwerk Druckfarben AG Co. KGaA Market 2019-2024 ($M) - Regional Industry Research
15.5 Toyo Inc. SC Holdings Co. Ltd. Market 2019-2024 ($M) - Regional Industry Research
15.6 INX International Inc. Co. Market 2019-2024 ($M) - Regional Industry Research
15.7 Huber Group Market 2019-2024 ($M) - Regional Industry Research
15.8 Altana AG Market 2019-2024 ($M) - Regional Industry Research
15.9 TK Toka Co., Ltd. Market 2019-2024 ($M) - Regional Industry Research
15.10 Zeller+Gmelin GmbH Co. KG Market 2019-2024 ($M) - Regional Industry Research
16.APAC Flexographic Inks Market Analysis, by Type Market 2019-2024 ($M)
17.APAC Flexographic Inks Market Analysis, by Resin Market 2019-2024 ($M)
18.APAC Competition Landscape Market 2019-2024 ($M)
18.1 Sun Chemical Corporation Market 2019-2024 ($M) - Regional Industry Research
18.2 Flint Group Market 2019-2024 ($M) - Regional Industry Research
18.3 Wikoff Color Corporation Market 2019-2024 ($M) - Regional Industry Research
18.4 Siegwerk Druckfarben AG Co. KGaA Market 2019-2024 ($M) - Regional Industry Research
18.5 Toyo Inc. SC Holdings Co. Ltd. Market 2019-2024 ($M) - Regional Industry Research
18.6 INX International Inc. Co. Market 2019-2024 ($M) - Regional Industry Research
18.7 Huber Group Market 2019-2024 ($M) - Regional Industry Research
18.8 Altana AG Market 2019-2024 ($M) - Regional Industry Research
18.9 TK Toka Co., Ltd. Market 2019-2024 ($M) - Regional Industry Research
18.10 Zeller+Gmelin GmbH Co. KG Market 2019-2024 ($M) - Regional Industry Research
19.MENA Flexographic Inks Market Analysis, by Type Market 2019-2024 ($M)
20.MENA Flexographic Inks Market Analysis, by Resin Market 2019-2024 ($M)
21.MENA Competition Landscape Market 2019-2024 ($M)
21.1 Sun Chemical Corporation Market 2019-2024 ($M) - Regional Industry Research
21.2 Flint Group Market 2019-2024 ($M) - Regional Industry Research
21.3 Wikoff Color Corporation Market 2019-2024 ($M) - Regional Industry Research
21.4 Siegwerk Druckfarben AG Co. KGaA Market 2019-2024 ($M) - Regional Industry Research
21.5 Toyo Inc. SC Holdings Co. Ltd. Market 2019-2024 ($M) - Regional Industry Research
21.6 INX International Inc. Co. Market 2019-2024 ($M) - Regional Industry Research
21.7 Huber Group Market 2019-2024 ($M) - Regional Industry Research
21.8 Altana AG Market 2019-2024 ($M) - Regional Industry Research
21.9 TK Toka Co., Ltd. Market 2019-2024 ($M) - Regional Industry Research
21.10 Zeller+Gmelin GmbH Co. KG Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Flexographic Inks Market Revenue, 2019-2024 ($M)2.Canada Flexographic Inks Market Revenue, 2019-2024 ($M)
3.Mexico Flexographic Inks Market Revenue, 2019-2024 ($M)
4.Brazil Flexographic Inks Market Revenue, 2019-2024 ($M)
5.Argentina Flexographic Inks Market Revenue, 2019-2024 ($M)
6.Peru Flexographic Inks Market Revenue, 2019-2024 ($M)
7.Colombia Flexographic Inks Market Revenue, 2019-2024 ($M)
8.Chile Flexographic Inks Market Revenue, 2019-2024 ($M)
9.Rest of South America Flexographic Inks Market Revenue, 2019-2024 ($M)
10.UK Flexographic Inks Market Revenue, 2019-2024 ($M)
11.Germany Flexographic Inks Market Revenue, 2019-2024 ($M)
12.France Flexographic Inks Market Revenue, 2019-2024 ($M)
13.Italy Flexographic Inks Market Revenue, 2019-2024 ($M)
14.Spain Flexographic Inks Market Revenue, 2019-2024 ($M)
15.Rest of Europe Flexographic Inks Market Revenue, 2019-2024 ($M)
16.China Flexographic Inks Market Revenue, 2019-2024 ($M)
17.India Flexographic Inks Market Revenue, 2019-2024 ($M)
18.Japan Flexographic Inks Market Revenue, 2019-2024 ($M)
19.South Korea Flexographic Inks Market Revenue, 2019-2024 ($M)
20.South Africa Flexographic Inks Market Revenue, 2019-2024 ($M)
21.North America Flexographic Inks By Application
22.South America Flexographic Inks By Application
23.Europe Flexographic Inks By Application
24.APAC Flexographic Inks By Application
25.MENA Flexographic Inks By Application