Flexographic Printing Inks Market Expected to Expand at a Steady CAGR of 4% through 2031

Global Flexographic Printing Inks Market Introduction

Flexographic printing offers several advantages over traditional lithographic printing presses. It has a shorter startup time and can print using a wide variety of inks on almost any substrate. Popularity of flexographic printing is rising due to its speed, cost-effectiveness, and reduced toll on the environment.

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Application of ink is the most important part of the printing process. Flexographic printing has extremely high press speeds and is suited for long runs - a good consideration for medium to large print jobs that need to be completed as quickly as possible. Flexographic ink is available in three major varieties: water-based, UV curable, and solvent-based. The substrate type - or printing surface - ultimately dictates the ink that is likely to be used for each application. Solvent-based inks are less popular due to their harmful impact on the environment, despite the fact that they are safe for usage in food packaging and other household applications.

Flexographic inks are primarily used in the process of flexography to print ink on materials such as plastic bags, newspapers, catalogs, food packaging, corrugated cardboard, cardboard boxes, and other types of packing mediums. Flexographic printing ink offers superior adhesion to non-porous surfaces such as metals, glass, polypropylene, and vinyl while maintaining excellent press open time and notable alkali resistance. Thus, rise in application of flexographic printing inks is anticipated to drive the market during the forecast period.

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High Demand for Flexographic Printing Inks in Food Packaging Industry to Propel Global Market
Flexography is a modern version of letterpress printing. This traditional method of printing can be used on almost any type of substrate including corrugated cardboard, cellophane, plastic, label stock, fabric, and metallic film. The flexographic printing process employs quick-drying, semiliquid inks. In this age of digital printing, flexography is preferred for large orders and long print runs, particularly for packaging products and labeling. Flexographic printing uses non-toxic inks and has a quick drying time. This printing method is extensively employed for the printing of bold designs, and extremely attractive effects can be achieved using 3 to 45 colors.

This makes flexographic inks beneficial in the printing of food packaging. These inks can be used on the packaging of food products such as milk cartons, beverage containers, food containers, as well as disposable cups and containers. Therefore, high demand for flexographic printing inks in the food packaging industry is expected to drive the market.

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Rise in Preference for Polyurethane Resin-based Inks

Rise in popularity of the flexible packaging format can be ascribed to the numerous benefits it offers over existing alternatives. It offers advantages such as extended shelf-life, lower transportation costs, and reduced material consumption and landfill contribution. This format is cost-effective and provides an ideal marketing opportunity with the ability to print on flexible packaging substrates. Enabling these benefits are continual improvements in substrate, ink, printing, and converting technology. One of the major areas of attention for flexo ink is resins. Various types of resins go into inks that are used for printing on flexible packaging such as styrene acrylics, polyurethanes, polyamides, and nitrocellulose. Unique requirements and challenges of such packaging are driving the preference for polyurethane resin-based ink systems.

Polyurethane resins are used in flexographic and gravure universal laminating ink systems, as they provide specific features such as direct pigment gridding, excellent adhesion, low odor/solvent retention, no yellowing performance, excellent anti-blocking, heat and water resistance, and high solid content. Therefore, increase in demand for polyurethane resins in flexographic printing is projected to drive the flexographic printing inks market.

Superior Print Quality and Good Adhesion Make UV-cured Inks Suitable for Various Printing Applications
In terms of type, the global flexographic printing inks market has been classified into water-based inks, solvent-based inks, and UV-cured inks. The UV-cured inks type segment held prominent share of 38.3% of the market in 2021. The segment is anticipated to grow at a CAGR of 3.5% by 2031. UV-cured inks offer superior print quality with no solvent replenishment and rapid readiness for use, good adhesion on flexible and many other substrates, high chemical and product resistance, and high running speeds. This also means that UV-cured inks are currently being considered in numerous printing areas.

UV curing flexo inks are being used for printing on nearly all the ranges of substrates used for finished products such as yogurt tops and cups, sugar, soup and spice sachets, flexible packaging, milk and juice cartons, pet food packaging, and even cigarette packs. Therefore, the UV-cured ink segment is expected to dominate the flexographic printing inks market during the forecast period.

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Regional Outlook of Global Flexographic Printing Inks Market

In terms of region, Asia Pacific accounted for major share of the global flexographic printing inks market in 2021. Its share is expected to increase by 2031 due to large-scale production activities that take place in the region. Development in the industrial sector in China and India is projected to boost the usage of flexographic inks in Asia Pacific in the next few years. Growth of the flexographic printing inks market in Asia Pacific can also be ascribed to the increase in demand for flexographic printing inks in consumer goods packaging applications.

North America and Europe, cumulatively, held more than 50% share of the global market in 2021. Companies in these regions are renowned for developing new types of flexographic printing inks through research and development activities. Middle East & Africa and Latin America, cumulatively, accounted for about 10.0% share of the global flexographic printing inks market in 2021, owing to the presence of a large number of under-developed countries, such as Angola, Peru, and Sudan, in these regions.

Analysis of Key Players in Global Flexographic Printing Inks Market

The global flexographic printing inks market is highly consolidated, with a small number of large-scale vendors controlling the majority of the share. Most companies are investing significantly in comprehensive research and development activities, primarily to create environment-friendly products. Expansion of product portfolios and mergers and acquisitions are key strategies adopted by prominent players, which include Sun Chemical Corporation, Flint Group, Siegwerk Druckfarben AG & Co. KGaA, Toyo Ink SC Holdings Co., Ltd., and ALTANA AG.

Key Developments in Global Flexographic Printing Inks Market

On June 30, 2022, INX International Ink Co. delivered performance, efficiency, and sustainability to the shrink sleeve market with new ink products. INX International Ink Co. continues to cater to the market demand with innovative new ink products, as shrink sleeves gain more traction in the packaging arena. The latest development is INXFlex Contour, a dynamic UV and LED dual cure flexographic ink system designed to help produce distinctive shrink sleeve label solutions for brand owners.

On May 24, 2022, Siegwerk launched a new generation of NC inks manufactured at its fully automated production facility. The new generation of Siegwerk NC inks is currently the first series for flexible packaging printing that is manufactured at this site. Siegwerk is currently offering a new generation of water-based inks for flexographic printing in flexible packaging applications. These inks are produced with the state-of-the-art production equipment at the company's headquarters in Germany.

On August 18, 2020, Flint Group presented a quality evolution in flexographic printing. The print job was done with only six process colors - Cyan, Magenta, Yellow, Black, Green, and Violet - in the Flint Group supplied FlexiPrint MV, a next-generation NC-based ink system for high-performance surface print and lamination work.

The ink series offers maximized color strength and specific shades to support the highest quality and fixed pallet multi-color process work (high definition flexo).

Each of these players has been profiled in the flexographic printing inks market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments, and recent developments.

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