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Flexographic Printing Machine Market Size, Share & Growth Trends 2024-2033 | Industry Forecast
Flexographic Printing Machine Market Size
According to The Business Research Company's, The flexographic printing machine market size has grown strongly in recent years. It will grow from $0.69 billion in 2023 to $0.72 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The growth in the historic period can be attributed to advancements in printing technology, cost-effectiveness, increasing demand for packaging, environmental concerns, globalization, and market expansion.
The flexographic printing machine market size is expected to see strong growth in the next few years. It will grow to $0.90 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to digitalization and industry 4.0 integration, customization and personalization demands, sustainability initiatives, and emerging markets. Major trends in the forecast period include hybrid printing solutions, increased automation, and robotics, focus on operational efficiency, expansion of applications, development of sustainable inks and substrates, and integration of IoT and connectivity.
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Market Drivers and Trends:
The growing packaging industry is expected to propel the growth of the flexographic machines market going forward. Packaging refers to designing, producing, and distributing materials and containers for enclosing, protecting, and delivering products to consumers. The packaging industry is growing due to the rapid rise of e-commerce, changing consumer preferences, and health and safety concerns. Flexographic machines print on various packaging materials, such as paper, cardboard, plastic films, and flexible packaging materials. For instance, in August 2022, according to the Flexible Packaging Association (FPA), a US-based industry association representing manufacturers and suppliers in the flexible packaging industry, the packaging industry in the U.S. increased from $34.8 billion in 2020 to $39 billion in 2021. Therefore, the increasing packaging industry is driving the growth of the flexographic machines market.
Major companies operating in the flexographic printing machine market are focusing on developing Flat-top dot technology, such as nyloflex FTV Digital plate, to strengthen their position in the market. nyloflex FTV Digital plate is backed with Flat-top dot technology printing method that produces uniform and consistent ink dots with flat, level surfaces, enhancing print quality and detail. For instance, in March 2023, XSYS, a US-based company that specializes in the flexographic printing industry, launched the nyloflex FTV Digital plate for high-end flexible packaging, developed with inherent flat-top dot technology and a smooth plate surface, designed for flexographic printing on film substrates with solvent inks. It offers exceptional print quality with fine highlight dots optimized for bank and LED exposure. The new formulation reduces plate swelling, resulting in less waste and more extended durability on the press. It achieves high consistency and repeatability, is suitable for optional surface screenings, and is compatible with ThermoFlexX Woodpecker patterns and LED UV-A light technology.
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Major Key Players of the Market:
Bobst Group SA, Star Flex International, Shanghai Printyoung International Industry Co., Ltd, Wenzhou Daba Machinery Co., Ltd, BFM S.r.l, Paper Converting Machine Company (PCMC), Koenig & Bauer Flexotecnica S.p.A, UTECO Converting S.p.A, Comexi Group Industries S.A.U, Mark Andy Inc, MGI Digital Graphic Technology S.A, Nilpeter A/S, Rotatek S.A, Karlville Development LLC, Edale Limited, OMET S.r.l, Labelmen Machinery Co., Ltd, Polygraph Limited, Advanced Vision Technology Ltd. (AVT), ETI Converting Equipment Inc, MBO Postpress Solutions GmbH, SPS Technoscreen Ltd, TRESU Group, Orthotec LLC, Pamarco Global Graphics
Flexographic Printing Machine Market 2024 Key Insights:
• The flexographic printing machine market size is expected to see strong growth in the next few years. It will grow to $0.90 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Increasing Packaging Industry Is Driving Growth In The Flexographic Machines Market
• Technological Advancement In Response To Customer Demand
• Asia Pacifica was the largest region in the flexographic printing machine market in 2023 The regions covered in the flexographic printing machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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