Fior Markets launched a study titled “Global Flexographic Inks Market by Resin Type (Acrylic, Polyurethanes, Polyamides, Nitrocellulose, Others), Technology, Application, Region”,and Global Forecast 2018-2025.
The global flexographic inks market is expected to grow from USD 3.86 Billion in 2018 to USD 5.96 Billion by 2025 at a CAGR of 5.58% during the forecast period from 2018-2025. Rising global demand for consumer goods, FMCG products, processed food items is boosting the demand for flexographic inks on account of product labeling and differentiation.
Acrylic based inks led with 42.75% marketshare by volume in 2017
Resin type segment is classified into acrylic, polyurethanes, polyamides, nitrocellulose and others.Acrylic based flexographic inks segment emerged as the leader with a 42.75% share of total market volume in 2017. Superior property of acrylic based inks for resistance to discoloration caused by heat and abrasion was the driving factor behind this demand. Nitrocellulose inks segment is projected to achieve a significant market share due to its property of compatibility with laminating materials.
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UV curable inks is anticipated to grow at a CAGR of 8.64% in 2018-2025
Technology segment is divided into water based, solvent based, UV curable. UV curable inks reduce the wastage of ink thus making the printing process more efficient and cost effective. Due to this property, UV curable inks are anticipated to grow at an increased pace at a CAGR of 8.64% over the forecast period. Water based inks emerged as the dominant segment with a 52.39% share of market revenue in 2017 owing to its low viscosity making it suitable for printing on the paper, corrugated cardboards and plastics.
Corrugated cardboard segment clocked a revenue of USD 1.38 Billion in 2017
Application is segmented into corrugated cardboards, flexible packaging, folding cartons and labels. Corrugated segment is witnessing increased demand due to rise in demand for packaging materials in consumer goods, FMCG products and others. Flexible packaging segment is projected to grow at the highest CAGR of 7.86% during the forecast period.
Regional Segmentation Analysis:
The market is analysed on the basis of five regions namely North America, Europe, Asia Pacific, South America, and Middle East and Africa.Owing to Huge demand for the consumer goods, pharmaceuticals, and FMCG products from the local population, Asia Pacific region accounted for 38.14% of total market revenues in 2017.
The key firms in global flexographic inks market are DIC Corporation, Siegwerk Druckfarben AG & Co KGaA, Sakata Inx, Toyo Ink S.C. Holdings Co. Ltd., Flint Group , T&K Toka, Zeller+Gmelin GmbH & Co. KG, Altana AG, Huber Group, INX International Ink Co., Toyo Ink SC Holdings Co. Ltd., Wikoff Color Corp., Flint Group, Sun Chemical Corp among others.
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