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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