Albany, NY, Nov. 25, 2014 (GLOBE NEWSWIRE) -- According to the report, the global flexographic printing inks market was valued at USD 6.41 billion in 2013 and is projected to reach USD 9.32 billion by 2020, expanding at a CAGR of 5.5% between 2014 and 2020. Global demand for flexographic printing inks stood at 1,603.7 kilo tons in 2013.
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Flexographic printing is one of the most important conventional printing processes. The flexographic printing process is used primarily on flexible materials such as corrugated boxes, paper and plastic bags, folding cartons, milk cartons, disposable cups, and tags and labels. Water-based inks are the most extensively used flexographic printing inks due to their lower VOC content. Thus, it was the largest product segment of the global flexographic printing inks market, accounting for more than 40% of the global market volume in 2013. Packaging was the largest application segment of the global flexographic printing inks market in 2013, due to rising demand from end-user industries such as food and beverages, personal care, household care and pharmaceutical. In terms of volume, the segment accounted for more than 80% of the global market in 2013.
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UV-cured inks segment is expected to be the fastest growing segment of the global flexographic printing inks market in the next few years. Rising demand for these types of inks can be primarily ascribed to their excellent printing performance and the absence of VOCs. Additionally, the packaging segment is estimated to be the fastest growing application segment of the global flexographic printing inks market in the next few years. Increasing demand for flexible packaging application products from the food and beverages and personal care industries is anticipated to drive the demand for flexographic printing inks in the packaging application segment in the next few years.
Asia Pacific dominated the global flexographic printing inks market, accounting for more than 35% of the total market volume in 2013. Rising demand for flexographic printing inks in packaging application products such as flexible packaging, corrugated containers, folding cartons, tags and labels and metal cans is likely to drive the flexographic printing inks market in Asia Pacific in the next six years. Asia Pacific is expected to be the fastest growing region in the flexographic printing inks market in the next few years. Rising demand for flexographic printing inks from rapidly developing nations in Asia, such as India and China, is projected to drive the
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flexographic printing inks market in Asia Pacific in the next six years. Furthermore, factors such as gradual recovery of the economy in the U.S. and Europe and higher demand in RoW are expected to boost the global flexographic printing inks market in the next few years. Key players operating in the flexographic printing inks include Flint Group, Sun Chemical Corporation, ALTANA AG, Siegwerk Druckfarben AG & Co. KGaA and INX International Corporation.
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The report segments the global flexographic printing inks market as:
Flexographic Printing Inks Market - Product Segment Analysis
Flexographic Printing Inks Market - Application Analysis
- Flexible packaging
- Corrugated containers
- Folding cartons
- Tags and labels
- Others (Including metal cans, etc.)
- Others (Including printing of newspapers, etc.)
Flexographic Printing Inks Market - Regional Analysis
- North America
- Asia Pacific
- RoW (Including South America, Africa and the Middle East)
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