Flexographic Printing Inks Market to Show Robust Growth Due To Rise in Demand from Packaging Industry

 

Flexographic Printing Inks Market

Overview:

Flexographic printing inks are an important product for the flexible packaging industry. They provide a high quality, water insensitive print that adheres to paper, foils, plastics, and other substrates. These inks are also fast-drying, have a low odor, and can be used on multiple substrates. Flexographic printing inks are prepared by heating a solvent-based formulation to a temperature of about 70 degrees Celsius. Afterward, the ink is dried with hot air. The cured ink has UV curable properties that allows the ink to withstand UV exposure.

Market Dynamics:

The demand for printing ink is rapidly increasing from the packaging industry around the world, this is expected to augment growth of the global flexographic printing inks market over the forecast period. The number of packaging manufacturers interested in development of attractive packaging is increasing around the globe. This in turn is creating demand for printing inks. For instance, in May 2022, Siegwerk introduced a new generation of NC inks, which is the first series for flexible packaging printing manufactured at the fully automated manufacturing facility of the company. Thus, the market is likely to witness strong growth in the near future.

However, factors such as fluctuation in the costs of raw materials and matured market in developed regions are likely to impede growth of the global flexographic printing inks market over the forecast period.

Impact of COVID-19:

The coronavirus outbreak impacted more than 200 countries around the world. Several industries including the one being discussed were impacted adversely due to the COVID-19 pandemic. Many countries imposed stringent lockdown regulations to curb the virus spread; however, under these regulations various industrial operations such as manufacturing activities, supply chains along with distribution operations were disrupted. This further impacted production and demand in flexographic printing inks market. Thus, the market was negatively affected by the COVID-19 pandemic. However, with pandemic situation going back to normal, the market is likely to regain its growth.

Key Takeaways:

·         The global flexographic printing inks market to grow with a CAGR of XY% during the forecast period, owing to emergence on novel resin technologies in the market. For instance, in November 2022, Nexa3D launched three novel photopolymer resins for its printing platforms, XiP 3D and NXE in collaboration with material partners.

·         Among regions, Asia Pacific is anticipated to witness substantial growth in the global flexographic printing inks market over the forecast period. This can be attributed to presence of some of the fast growing economies in the region such as India, China, and South Korean, along with this, increase in demand for convenient packaging solutions in the region.

·         Major players operating in the global flexographic printing inks market RUCO Druckfarben A.M. Ramp & Co GmbH, Flint Group, TOYO Ink Group, Sun Chemical Corporation, Zeller+Gmelin GmbH & Co. KG, ALTANA AG, T&K TOKA Co., Ltd, Siegwerk Druckfarben AG & Co. KGaA, Wikoff Color Corporation, and INX International Corporation.