PUNE, India, May 4, 2017 /PRNewswire/ --
The report "Flexographic Ink Market by Technology (Water, Solvent, and UV Based), Resin Type (Nitrocellulose, Polyamides, Polyurethane, Acrylic), Application (Corrugated Cardboards, Flexible Packaging, Tags & Labels, Folding Cartons) - Global Forecast to 2022", published by MarketsandMarkets™, the market is projected to grow from USD 3.27 Billion in 2017 to USD 4.16 Billion by 2022, at a CAGR of 4.89% during the forecast period.
Browse 98 market data Tables and 37 Figures spread through 138 Pages and in-depth TOC on "Flexographic Ink Market"
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Among applications, the corrugated cardboards segment accounted for the largest share of the market in 2016, in terms of value. Rising demand from the packaging industry is driving the growth of the flexographic ink market. The increasing demand for biodegradable & renewable flexographic ink is expected to further fuel the growth of the flexographic ink market during the forecast period.
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Acrylic segment accounted for a major share of the flexographic ink market in 2016
Acrylic resins are preferred over other resins as they offer good plasticizer resistance, excellent solvent resistance, high flexibility, and impact resistance. They also offer excellent color, high gloss, and retention of performance properties at high temperature.
Water-based segment accounted for the largest share of the flexographic ink market in 2016
By technology, the water-based segment accounted for the largest market share in 2016. The growth of this segment can be attributed to the various properties of water-based flexographic inks, such as less flammability, low VOC emissions, stable viscosity, and environment-friendliness, among others.
Corrugated cardboards segment to be the largest application segment of the market between 2017 and 2022
Corrugated cardboards are an effective form of packaging used in the shipment of products. They are cost-effective and offer protection and easy identification of the products. These cardboards are made of natural, environmentally friendly materials and have an excellent ability to recycle and recover. The growth of the corrugated cardboards segment is mainly backed by the rising demand for packaging of healthcare products, cigarettes, frozen foods, and dry foods.
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The Asia-Pacific flexographic ink market is projected to grow at the highest CAGR during the forecast period
The Asia-Pacific Flexographic Ink Market is projected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the rising demand for flexographic ink from the region's emerging economies, such as India, China, South Korea, Vietnam, and Indonesia, among others. Factors such as improving standards of living and rising per capita income of countries of the region are also fueling the growth of the Asia-Pacific flexographic ink market.
DIC Corporation (Japan), Siegwerk Druckfarben AG & Co. KGaA (Germany), Sakata Inx (Japan), Toyo Ink S.C. Holdings Co. Ltd. (Japan), Flint Group (Luxembourg), and T&K Toka (Japan) are among the key players operating in the flexographic ink market.
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