Sun Chemical Group, Flint Group, TOYO INK SC HOLDINGS CO., LTD., HuberGroup Deutschland GmbH, T & K TOKA CO., LTD., SAKATA INX CORPORATION and Siegwerk Druckfarben AG & Co. KGaA among others are some of the prominent players at the forefront of competition in the Global Flexo-ink Market and are profiled in MRFR Analysis.
Flexo-ink Market – Market
Overview
Flexo-ink market are gaining
importance in printing industry owing to shorter runs which benefits promoting
activities. Packaging being major marketing tool is contributing towards high
growth of flexo-ink market owing to light weight, good aesthetic properties and
help the companies to create a brand image. Moreover, improving economic
conditions worldwide is significantly standard of living which is anticipated
to drive the global flexo-ink market across end use industries.
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The global flexo-ink market is
projected to grow with CAGR of 5.72% during forecast period. Growing new
technologies in printing industry such as sleeve and adapter technology has
contributed more towards improved print quality worldwide, thereby reducing
setting time and labor costs. Thus, growing printing industry is another
driving factor in the growth of global flexographic inks market. Flexo-inks are
available in various forms such as solvent, water and UV based among others.
Solvent based flexo-ink has occupied the largest share among the segment in
2016, with 52% market share. Growing demand for solvent-based inks over water
based is mainly due to easy penetration of inks on plastic substrates. The main
key challenge for water-based inks are more drying time and less press
efficiency. Over the years, with increasing government regulations, water based
flexo-inks are anticipated to be evolved as new generation ink
market owing to less VOC emissions and lower flammability.
Flexo inks are prepared combined
with resins such as acrylic resin, polyamide resins, cellulosic resins,
polyurethane resins and vinyl resins among others. Rising demand for acrylic
based flexo-ink in corrugated paper and folding cupboards are expected to drive
the overall global flexo-ink
market. Further, polyurethane resins are having superior properties
such as hardness, cure speed, viscosities, mechanical and thermal properties.
Owing to high flexibility, polyurethane based flexo ink has gained importance
in solvent based flexo-ink market. However, to balance the demand of flexo-ink
with surging application such as flexible packaging in different regions are
likely to open new opportunities for market players. In addition, increase in
standard of living and changing climatic conditions are the factors driving the
packaging industry in global flexo-ink market.
Asia Pacific region is dominating
region and accounted for 40% market share in global flexo-ink market. Growing
investments in R&D for innovative products packaging across cosmetics and
pharmaceuticals has significantly propelled the market growth in this region.
Europe witnessed considerable growth in global flexo-ink market. Stern
regulations regarding minimal VOC contain or free VOC contain products are
driving high attention in developed regions. Moreover, growing demand for ready
to eat meals among consumer with new labels and advertisement campaign are
expected to augment the market growth in this region. North America flexo ink
market witnessed significant growth with CAGR of 5.39% during forecast period.
Key players in food & beverage industry based in U.S. and Canada are
spending more on outdoor advertisements which are further anticipated to drive
the market growth.
Flexo-ink Market –
Competitive Analysis:
Flexo-ink market appears to be
fragmented market owning to the presence of numerous small and large players
active in regional market. The strategies traced from the analysis of recent
developments of the key players include acquisition and expansion. For
instance, Sun Chemical company opened a new automated and advanced technology
production facility in Turkey to meet demand of solvent based flexible
packaging. Migration of pharmaceutical industries to emerging markets in order
to tap opportunities are further fuelling the growth of flexo-ink market.
Product development and joint venture or collaboration are some of the
strategies followed by regional players. Companies like Sun Chemical and BASF
are developing solvent free inks to achieve sustainable growth in coming years.
Moreover, flint group introduced new range of polyurethane-based inks for high
performance flexo printing in packaging industry.
Industry/ Innovation/ Related
News:
March 2017 - Sun Chemical
Forms joint venture with Alliance Holding Company, LTD. The joint venture,
which will operate under the name Sun Chemical Saudi Arabia LTD, combines two
of the leading ink suppliers to the packaging and publication market in Saudi
Arabia region. This venture also helps to reinforce the growing packaging
printing market across the Middle East & Africa.
April 2017 – Sun Chemical
launched High Performance UV Flexo Inks based on Next Generation Ink Platform.
The new range such as ‘SolarFlex Integra’ and ‘SolarFlex FSP’ are added to
global solarflex family replacing the SolarFlex Nova SL range. The new
SolarFlex Integra inks are designed for label, sleeve and packaged materials.
The company has maintained the food packaging regulation and covered the
requirement for migration compliant. The SolarFlex FSP is used for surface
printing on flexible films and labels where requirement for migration-compliant
food packaging has met.
April 2017 –Flint Group, a
printing manufacturer has opened a new development facility for paper &
board packaging ink known as ‘Global Innovation Centre’ in Sweden. With state
of art facility including analytical tools, contemporary printing press along
with innovative workflow has opened new avenues for company to meet customer
requirements. This facility provides design developments in paper & board
packaging ink business.
January 2017 – Toyo Ink
successfully developed Elex-one series of EB curable flexo inks which is
completely VOC free. The new Elex-one series mainly used for application such
as flexible and carton packaging applications. Growing regulatory norms, has
led to the demand for VOC and CO2 reducing technology which gained high
importance in North America and European regions.
February 2017 - Hubergroup
is under expansion plan in eastern Europe. The printing-ink manufacturer opens
new distribution centres in Russia and Balkans to serve better service to
Eastern Europe. The two service centres are improving level of service in
Russia market. The first mixing station are for low migration inks in Balkans
to meet the growing demand of quality MGA spot inks for food packaging and
tobacco products in the region.
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