(I-BusinessNews.Com, July 25, 2021 ) Flexible Printing Inks Market size is forecast to reach $15.2 billion by 2026, after growing at a CAGR of 5.4% during 2021-2026. Flexible Printing Inks enhances the graphical appearance and also contributes to the performance of the quality images during manufacturing, packaging, transportation and use of products. The flexible printing inks are water based/solvent based and are used for surface prints, laminations, and adhesion. Ethanol Polyamide resins are engineered to dissolve in ethanol or a mixture of ethanol and have excellent ester tolerance. It is more consistent with nitrocellulose than co-solvent or ethanol reducible forms, and it provides greater low-temperature gel resistance and recovery. Because of its improved compatibility with nitrocellulose, printing inks with high heat resistance for heat-sensitive applications can now be produced. Jetness, colour hue, optical density, masstone, gloss, rub resistance, rheological and flow properties are all provided by carbon black pigments for printing inks. The growth in the market is due to the increase in the usage of flexible printing inks in various applications like, coating, film, glass inks, plastic printing, metal decorating and others.
COVID-19 Impact
The Asia-Pacific region has grown to become the world’s largest printing ink market, thanks to China, India, and a slew of other fast-growing countries. The sector has grown by 133 percent since the recession began. This trend was crucial in minimizing many of the recession’s consequences. In 2019, it has surpassed China as the largest market for flexible printing. This is only expected to increase, particularly now that there is a renewed emphasis on hygienic, healthy packaging to resolve any additional challenges raised by the introduction of COVID-19. Currently the Flexible Printing Inks Market has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. This in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.
Flexible Printing Inks Market Segment Analysis – By Ink
The Flexographic Ink held the largest share in the Flexible Printing Inks Market in 2020. The flexographic ink process involves the transferring of ink, one color at a time from the surface of the flexible plate, which is made of photopolymer, on which an image is represented to the substrate. The flexographic ink is water, solvent and oil based and UV. It is one of the most dynamically increasing area because of its use on both the absorbent bases and the non-absorbent bases. Flexographic ink printing is done on the paper, plastics and cardboards.
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Flexible Printing Inks Market Segment Analysis – By Type
Solvent Based flexible printing ink held the largest share in the Flexible Printing Inks Market in 2020. The solvent based inks are mainly composed of ethanol, acetate and the commonly used pigments that are the pigments with 80-90% of ethanol and 10-20% of acetate. The solvent based inks are having usually low surface tension than water-based inks. The solvent based inks are majorly used on the industrial film and the plastic shopping bags.
Flexible Printing Inks Market Segment Analysis – By Type of Resin
Polyurethane resin-based ink system held the largest share in the Flexible Printing Inks Market in the year 2020. The polyurethane resin is used to create a flexible film to provide a bond of strength and also prevent the package from delaminating. There is a very strong growth in the food industry and with this growth there is rise in the requirement of laminating packages with lower cost, better pigment, more efficiency, low complexity and better printing. With the storage packaging the bond must be high because of the challenging conditions and the food packed must be hold fresh. The growth of use of polyurethane in flexible ink market will drive the growth because of its growing use in the food packaging industry.
Flexible Printing Inks Market Segment Analysis – By Application
Lamination and plastic printing held the largest share in the Flexible Printing Inks Market in 2020 with a CAGR of 8.2%. The rise in printing industry is due to the increase in demand for the packaged food and due to rise in the disposable income of the people and change in the lifestyle in the emerging economies. With the growing printing industry and its demand for flexible printing particularly in the regions of Asia-Pacific, North America and Europe, the demand of flexible printing for all kinds of applications like coating, flexible film, lamination, metal decorating and others are expected to see an upsurge. Food packaging industries with tetra packaging and printing tags to track the parcel are witnessing growth due to the rising penetration from untapped markets. First-mover advantage in untapped regions and relatively low acquisition costs remain key driving forces in this application market. Furthermore, R&D in Diamond Coatings will support the growth of the Flexible Printing Inks Market.
Flexible Printing Inks Market Segment Analysis – By Geography
Asia-Pacific (APAC) dominated the Flexible Printing Inks Market consisting share of 40% followed by North America and Europe during the forecast period. APAC as a whole is set to continue to be one of the largest and fastest growing food packaging markets globally because of increasing the standard of living of the people and changing preference. In APAC, China is driving much of the Flexible Printing Inks Market demand in Asia-Pacific region followed by India and Japan. Of the five fastest growing regions in printing inks sector, other than U.S all constitute Asian countries including China and India who majorly drive the demand for flexible printing inks on different material in these regions. The strong and healthy growth in industrial sector is associated with growing population and middle-class economy which tend to drive Flexible Printing Inks Market. The number of manufacturing units that have illuminated flexible printing ink market is growing sharply in APAC region. Currently the Flexible printing inks industry has been affected due to COVID-19 pandemic where most of the industrial activity has been temporarily shut down. It in turn has affected the demand and supply chain as well which has been restricting the growth in year 2020.
Flexible Printing Inks Market Drivers
Rise in Demand for flexible packaging in different industries
Industrialization has led to the increase in demand for flexible printing inks in various industries like pharmaceutical, food & beverages and cosmetics. The new age digital and innovative techniques are changing the new trends and making the packaging more attractive and catching the eyes of the customers. The new techniques involve high profile sealing, strength, moisture prevention, aroma prevention and also the new world of tetra packaging.
Rise in Consumer Spending will drive the Market
Flexible inks in packaging and labelling are used more often as consumer spending increases for products and services. Packaged food consumption has risen in emerging economies as disposable income has increased and people’s lifestyles have changed. The need for labelling has increased as a result of the vast amount of packaged food, which is fueling market growth. Thus, the market gains substantial momentum due to the exponential growth of the packaging industry.
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Flexible Printing Inks Market Challenges
Stringent Regulation from government authorities
The water based flexographic inks are hazardous to the environment due to the emission of volatile organic compounds (VOC). VOC is used in the flexible printing because it provides good adhesion on plastics. The oxidation of VOC and other pollutants are oxidizing the air pollution. FDA has also shown concern over VOC and asked the companies to minimize the use because of growing health concerns, which in turn has hampered the growth of the market.
Flexible Printing Inks Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Flexible Printing Inks Market. Major players in the Flexible Printing Inks Market are DIC Corporation, T&K TOKA Co. Ltd, INX International Corporation, T&K TOKA Co. Ltd., Sun Chemical Corporation, TOYO Ink Group, Altana AG, Huber Group, Siegwerk Druckfarben AG & Co. KgaA, Wikoff Color Corp, and Others.
Acquisitions/Technology Launches/ Product Launches
In July 2020, SAKATA INX developed an environmentally friendly BSR-Bio, UV Inkjet Ink for Corrugated packaging applications. BSR-Bio is formulated with 20-30% of plant derived material which is helping in the reduction of risk and measurable and reportable CO2 savings.
Key Takeaways
Asia Pacific dominates the Flexible Printing Inks Market owing to rapid increase in coating, film and decorative industry due to increase in the e-commerce market.
The market drivers and restraints have been assessed to understand their impact over the forecast period.
The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
The other key areas of focus include the various applications and end use industry in Flexible Printing Inks Market and their specific segmented revenue.
Due to the COVID-19 pandemic, most of the countries have gone under temporary shutdown, due to which operations of Flexible Printing Inks Market related industries has been negatively affected, thus hampering the growth of the market.
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