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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