The flexographic ink 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%. 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 some of the key players operating in the flexographic ink market.
Europe is the largest market for flexographic ink, having accounted for more than 30% share, in terms of volume, in 2016. There is an increased demand for packaging in Europe, which is mainly backed by the expansion of the region’s food & beverage, healthcare, and consumer goods industries. This increased demand, in turn, drives the flexographic ink market in Europe. Asia-Pacific is the fastest-growing flexographic ink market with most of the large manufacturers establishing their facilities in this region. The presence of some of the fastest-growing economies, such as China, India, and South Korea, and rising demand for convenient packaging solutions play a crucial role in driving the flexographic ink market in the Asia-Pacific region.
The market is largely driven by the increasing demand for flexographic ink from various end-use applications, such as corrugated cardboards, flexible packaging, folding cartons, and tags & labels. The growth of the flexographic ink market can also be attributed to increased investments by the key players to launch efficient and cost-effective products, as well as for expansion and merger & acquisition activities. The growth of the middle-class population in emerging economies is one of the important factors driving the flexographic ink market.