LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global flexographic printing inks market is expected to grow at a CAGR of almost 5% during the forecast period.
This research report titled ‘Global Flexographic Printing Inks Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The global flexographic printing inks market is expected to grow at steady rate owing to the increasing demand for flexographic printing inks from various end-user industries, mainly from the packaging and printing industry. The growing online trade and sales are driving the demand for flexographic printing inks for packaging application during the forecast period.
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Technavio’s analysts categorize the global flexographic printing inks market into five major segments by application. They are:
- Flexible packaging
- Corrugated cardboard
- Folding cartons
- Tags and labels
- Others
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The top three segments based on application for the global flexographic printing inks market are discussed below:
Global flexographic printing inks market in corrugated cardboard application
Corrugated cardboard is a packaging material mainly designed to pack, protect, and promote products. It offers tensile, tear, and burst strength to withstand the logistics pressures. It also offers resistance against drop and vibration damage, and uniform stacking and weight distribution.
According to Hitesh Bhatia, a lead paints, coatings, and pigments research analyst from Technavio, “The corrugated cardboard application held the highest market share, accounting for 32% of the global flexographic printing inks in 2016. Corrugated cardboard finds use as a packing material for many brands and industries. The growth in e-commerce is expected to drive the demand for corrugated cardboard, thereby fostering the global flexographic printing inks.”
Global flexographic printing inks market in flexible packaging application
Flexible packaging is a container or package made of flexible or easily yielding materials, which can readily change shape when it is filled or closed. Flexible packaging can be made of foil, paper, plastic film, or a combination of any of these materials, making it easily recyclable. Also, manufacturers and retailers prefer flexible packaging because of its lightweight property which reduces transportation cost.
“Flexible packaging is used in a variety of applications such as goods, consumer products, medical products, and others. In 2016, the flexible packaging market held the second-largest share in the packaging segment, representing more than 19% of the total packaging market,” says Hitesh.
Global flexographic printing inks market in folding cartons application
Folding cartons are commonly used for packaging consumer goods. These are available in a variety of shapes and sizes and in various colors and graphics. The main function of folding cartons is to provide protection and facilitate the logistics and marketing of a wide variety of consumer products.
The global folding carton market is expected to grow at a CAGR of almost 4% during the forecast period. The increase in the demand for folding cartons is witnessed in the developing countries with higher consumption of products such as food and beverages, pharmaceuticals, and cosmetics.
The top vendors highlighted by Technavio’s research analysts in this report are:
- ALTANA
- DIC Corporation
- FlintGroup
- SAKATA INX CORPORATION
- Siegwerk Druckfarben
- Toyo Ink
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