Research and Markets - Flexographic Ink Market 2017 - Global Forecast to 2022: Water-Based Flexographic Ink Replacing Solvent-Based Inks and Growing Importance of UV-Curable Technology in Food Packaging
The flexographic ink market is projected to reach USD 4.16 Billion by 2022, at a CAGR 4.89% from 2017 to 2022
The market is largely driven by the increasing demand for flexographic ink from various end-use applications, such as corrugated cardboards, flexible packaging, folding cartons, and tags & labels. The growth of the flexographic ink market can also be attributed to increased investments by the key players to launch efficient and cost-effective products, as well as for expansion and merger & acquisition activities. The growth of the middle-class population in emerging economies is one of the important factors driving the flexographic ink market.
The flexographic ink market has been segmented on the basis of resin type, technology, application, and region. By resin type, the acrylic resin segment dominated the flexographic ink market in 2016. This dominance can be attributed to the growing use of acrylic resins in many applications, such as binders for paper/fiber processing, display windows for cellular phones, and backlights for liquid crystal displays (LCDs).
By technology, the water-based flexographic ink segment accounted for more than 50% share, in terms of volume, of the overall flexographic ink market in 2016. The water-based flexographic inks find applications in printing paper, corrugated cardboards, textiles, foils, plastics, and food packaging, as they offer advantages, such as less flammability, low VOC emissions, and stable viscosity during printing.
The corrugated cardboard segment is the largest application segment of the flexographic ink market in terms of volume. The strong growth of this application segment is mainly due to the rising demand for packaging of healthcare products, cigarettes, frozen foods, and dry foods.
Growing Demand for Flexographic Printing Ink From Packaging Industry