Transparency Market Research (TMR), a market intelligence and research firm, has published a market study on the global flexographic printing inks market for estimated this market to expand at a CAGR of 5.50% during the period from 2014 to 2020. The market stood at US$6.4 bn in 2013 and analysts expect it to reach US$9.3 bn by the end of the forecast period.The research report, titled “Flexographic Printing Inks Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”, states that the immense growth in the global packaging industry is the main reason for the rapid development of the flexographic printing inks market across the globe.
The market study analyzes the worldwide flexographic printing inks market on the basis of its products and their applications. Solvent-based printing inks, water-based printing inks, and UV-cured printing inks are the three main products available in this market. Major application areas for flexographic printing inks are product packaging (flexible packaging, metal cans, corrugated containers, tags and labels, and folding cartons) and various other applications such as newspaper printing.
Among the products, the water-based flexographic printing inks segment leads the global market and is projected to retain its position in the future. However, the UV-cured flexographic printing inks segment is anticipated to register the fastest growth over the forecast period. Among the application, the product packaging market accounts for more than 80% of the overall market, occupying the top position. Analysts predict this segment to maintain its lead during the period of forecast.
The global market for flexographic printing inks has been evaluated in this report on the basis of its regional distribution among North America, Europe, Asia Pacific, and the Rest of the World. Among these, Asia Pacific is the dominating regional market for flexographic printing inks. It occupied around 35% of the overall market in 2013 and is likely to remain the market leader over the forecast period.
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The increased demand for flexographic printing inks in product packaging from various end-use industries such as food and beverages, household products, personal care, and pharmaceuticals has significantly driven the market for flexographic printing inks this region. Analysts also expect this regional market to post the fastest growth throughout the forecast period, states the market study.
Apart from this, the economic recovery in North America (particularly in the U.S.) and Europe is projected to fuel the flexographic printing ink market in the forthcoming years. Whereas, the Rest of the World flexographic printing inks market is anticipated to register impressive growth, owing to the rise in the demand for flexographic printing inks from the Middle East and Latin America.
The research report also analyzes the company profiles of major players operating in the global flexographic printing inks market in order to present the market’s competitive landscape as well as the current market hierarchy. Flint Group, Altana, Sun Chemical Corp., Siegwerk Druckfarben, Wikoff Color Corp, INX International Corp, T&K TOKA Co. Ltd., TOYO Ink Group, Zeller+Gmelin GmbH & Co., and RUCO Druckfarben are the key market participants mentioned in this report.
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