Flexographic Printing Inks Market 2020 How the Business Will Grow in 2024? Prominent Players: INX International, Wikoff Color, Sun Chemical, Jiangmen Toyo Ink, DIC Corporation, Sakata, Flint Group, TOYO Ink Group

Graphical Research has announced the launch of flexographic printing inks market, a comprehensive study enumerating the latest price trends and pivotal drivers rendering a positive impact on the industry landscape. Further, the report is inclusive of the competitive terrain of this vertical in addition to the market share analysis and the contribution of the prominent contenders toward the overall industry.

In 2020, printing technology provider, DIC India launched its first-ever mobile application called DIC India Ink Master App to address the needs of the local ink industry and resolve operational problems related to lamination adhesive, flexographic, offset printing etc.

Mentioned below are the few of the key trends that will stir flexographic printing inks market expansion over 2024.

North America:
• High demand for packaged food products
In North America, the demand for frozen food, dairy and processed meat products has grown at an exponential rate in recent years. Consumers in the region are preferring ready to eat food products that are easily available across retail stores. To entice consumers and boost sales, packaged food manufacturers are utilizing visually appealing packaging materials with their products.

Access sample pages of the report, “North America Flexographic Printing Inks Market Forecasts 2024” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1095/sample

Increasing consumption of packaged food products will substantially boost the demand for flexographic printing inks across North America. The region is also witnessing an incremental rise in consumption of beverage products. According to the U.S. Census Bureau, in May 2020, sales of food and beverage in the U.S. increased by 14.3%, reaching nearly $75.3 billion. Such trends indicate lucrative growth prospects for flexographic printing inks suppliers and manufacturers in food and beverage packaging industry.

• Gaining foothold in the cosmetics sector
Cosmetic product manufacturers in North America are leveraging aesthetic packaging materials to accelerate sales and business growth. Large scale exports of cosmetic from the U.S. could facilitate the demand for durable packaging materials, in turn shaping the growth prospects of flexographic printing inks suppliers and manufacturers.

According to a report by the International Trade Administration (ITA), in 2016, personal care and cosmetics exports in the U.S. was valued over $12 billion. The report further adds that over the past five years, exports of cosmetics from the US have grown by 5%-6% annually.

Ascribed to such aspects, it is anticipated that the North America flexographic printing ink industry size could be worth over USD 3 billion by 2024. Although, stringent government regulation on plastic packaging materials by agencies like the FDA and EPA on could restrain this growth over the estimated period.

Europe:
• Robust demand for FMCG products
With presence of a multitude of manufacturing and technology industries across Europe, the working population is increasingly preferring FMCG products. Convenient packaging materials that are printed using flexographic printing inks are mainly utilized with such products. Increasing consumption of easy to make products could majorly shape the growth graph of the flexible packaging industry of Europe. Reports indicate that the flexographic printing inks market of Europe could reach a valuation of USD 3.5 billion by 2024.

Access sample pages of the report, “Europe Flexographic Printing Inks Market Forecasts 2024” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1111/sample

Similarly, the cosmetics sector of Europe is estimated to hold a major share in this industry. Incremental growth in income levels, expanding corporate sector and rapidly changing fashion trends have stipulated the demand for branded cosmetic products in the region. High emphasis on personal hygiene, long working hours and use of make-up and perfumes by professionals for staying fresh have incited heavy spending on grooming products. To further strength sales, prominent personal care and cosmetic product manufacturers are utilizing eye-catching packaging materials and solutions.

• Water-based printing inks registering high demand
Governments across Europe are stressing more on environmental protection and are encouraging the use of sustainable materials in packaging and other industries. Water-based flexographic inks are touted as a sustainable solution for printing purposes. These inks are comparatively ecofriendly, have high levels of water and compose of lower volatile organic compounds (VOCs). These aspects have led to its wide scale use along an assortment of applications like with cardboard, newspapers, and paper printings. Supportive government norms and comparatively lower-cost than its substitutes will favor the adoption of organic inks, accelerating water-based flexographic printing inks market of Europe.

Some major players in this niche include Zeller+Gmelin GmbH, RUCO Druckfarben A.M. Ramp & Co GmbH, Flint Group, Siegwerk Druckfarben AG & Co. KGaA, and Altana AG. These firms are making numerous advancements to develop eco-friendly printing ink alternatives. In 2020, Werner & Mertz, in cooperation with ink manufacturer Siegwerk Druckfarben AG & Co. KGaA, the EPEA Switzerland GmbH, and global packaging company Mondi, developed a recyclable printing ink system for flexography which poses no risk to human health and the environment.

APAC:
• Industries inching towards flexible packaging materials
Progressive growth in the packaging industry is anticipated to stir new demand in Asia Pacific flexographic printing inks market over time. Flexible packaging materials are logging high significance due to their versatility with food & beverage, and pharmaceutical products. Presence of a large population base and improving income and standard of living have catapulted the region’s e-commerce sector, boosting to the packaging industry. Studies suggest that the APAC flexographic printing inks market could reach an estimation of USD 4.5 billion by 2024.

Access sample pages of the report, “APAC Flexographic Printing Inks Market Forecasts 2024” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1109/sample

Major industry contenders operating in the APAC flexographic printing inks market include DIC corporation, Hubergroup India, Taiyuan Coates Lorilleux Inks Chemical Ltd., Sakata INX, XSYS Print Solutions (Shanghai) Ltd., Tokyo Printing Ink, T&K Toka, Sun Chemical Corp., Jiangmen Toyo Ink Co. Ltd. and Flint Group.

Firms in this niche are leveraging numerous business strategies to accelerate their market presence and reach. In 2020, flexographic printing inks maker, Flueron Inks Pvt. Ltd., India signed a manufacturing partnership agreement with Encres DUBUIT to offer high quality inks from a local manufacturing source, providing prompt service and banishing the need to import these products to India.

The advent of e-commerce has boosted the sales of consumer goods on a large scale, giving a considerable push to the global packaging industry. Growing inclination towards online shopping and improving consumer purchasing power will positively influence the demand for high-quality packing materials, driving flexographic printing inks supply over the next few years.

Contact Us:

Parikhit B.
Corporate Sales,
Graphical Research
Phone: 1-800-986-6917
Email: sales@graphicalresearch.com
Web: https://www.graphicalresearch.com

About Graphical Research:

Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.

This release was published on openPR.