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Flexographic Ink Market - Global Forecast to 2020
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Flexographic Ink Market - Global Forecast to 2020
© MarketsandMarkets
1 EXECUTIVE SUMMARY
Flexographic ink comes into existence in late 1800s. Since then, major development has been made in the
quality of flexographic ink for various applications such as printing plates, printing press and printing inks.
Major developments, such as sleeve and adapter technology, contributed more in improving print quality
and reduce setting time, labor and costs. Flexographic ink in initial stage based on solvent-based chemistry
but it also included an additional broad range of water-based and UV-curable inks in current market, which
helps in enhancing printing performance and packaging quality of flexographic ink.
Currently flexography is the highest-growing printing process among all the processes. It provides the
advantages of printing ink on a variety of different substrates such as Plastic, film, foil, paper and board, by
using wide categories of inks, and printing with higher speeds, while maintaining an appealing quality.
Most end-users such as printers and print buyers have observed a high growth and technological
advancement in different applications of flexographic printing.
Flexographic inks are largely used in corrugated cardboards, flexible packaging, folding cartons, and tags &
labels. The global flexographic ink market is witnessing growth owing to the growing demand from the
flexible packaging and growth of tags & labels market in the Asia-Pacific region. Water-based flexographic
ink has the largest market share among different types of technologies used for the production of
flexographic ink.
The global flexographic ink market was valued at $XX million in 2014 and is projected to reach $XX million
by 2020, at a CAGR of XX% between 2015 and 2020. Environmental regulations to reduce VOCs and
shifting market from print to digital media are the main restraints faced by the flexographic ink market.
FIGURE 1 FLEXOGRAPHIC INK MARKET SNAPSHOT (2015 VS. 2020): TAGS & LABELS AND
FLEXIBLE PACKAGING MARKET TO GROW AT A HIGHER PACE IN THE NEXT FIVE
YEARS
Source: MarketsandMarkets Analysis
2015 2020CAGR%
Folding Cartons
Tags & Labels
Volume (KT)
Corrugated Cardboard
Flexible Packaging
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FIGURE 2 EUROPE HAS THE LARGEST SHARE IN GLOBAL FLEXOGRAPHIC INK MARKET SIZE ,
BY REGION, 2015
Source: Press Releases, Investor Presentations, Expert Interviews, and MarketsandMarkets Analysis
Asia-Pacific (comprising China, India, Japan, and others) accounted for the largest share of XX% of the
global printing ink market in 2014. Growing demand for the flexographic printing inks in the packaging
industry for corrugated cardboard, flexible packaging, folding cartons, labels and tags, and metal cans are
driving the growth of the flexographic ink market in Asia-Pacific. The RoW region is projected to register the
second highest growth rate of XX% after Asia-Pacific during the forecast period.
The flexographic ink market is competitive with a large number of small players, especially in China. The
flexographic ink market is dominated by various players, depending on their core competencies. The key
players in this market are DIC Group (Japan), Flint Group (Luxembourg), Sakata INX (Japan), Toyo Ink SC
Holdings (Japan), T&K Toka (Japan), Siegwerk (Germany), and other medium and small sized regional
players.
XX%
XX%
REST OF THE WORLD
XX%
XX%
EUROPE
ASIA-PACIFIC
XX%
XX%
XX%
XX%
NORTH AMERICA
Market Share %
CAGR %
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Flexographic Ink Market - Global Forecast to 2020
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FIGURE 3 FLEXOGRAPHIC MARKET SNAPSHOT (2015 VS. 2020): MARKET FOR UV CURABLE
TO GROW RAPIDLY IN THE NEXT FIVE YEARS
Note: *E-Estimated, P-Projected
Source: MarketsandMarkets Analysis
Europe is estimated to account for the largest share of XX% of the global flexographic ink market, in terms
of volume in 2015. Huge demand from flexible packaging and tags & labels applications is driving the
growth of the flexographic ink market. The U.S., China, Japan, France, the U.K., and Germany are the
leading consumers of the flexographic ink market.
Particulars 2015 -E 2020 -P
Value ($Million) XX XX
Volume (Kilotons) XX XX
Regional Share (%Volume)
Asia-Pacific: XX%
Europe: XX%
North America: XX%
RoW: XX%
Asia-Pacific: XX%
Europe: XX%
North America: XX%
RoW: XX%
Technology Share (%Volume)
Water-Based: XX%
Solvent-Based: XX%
UV Curable: XX%
Water-Based: XX%
Solvent-Based: XX%
UV curable: XX%
Industry Status in 2014 The industry is consolidated with top ten players.
CAGR (2015–2020) Value: XX%; Volume: XX%
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Flexographic Ink Market - Global Forecast to 2020
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2 PREMIUM INSIGHTS
2.1 ATTRACTIVE OPPORTUNITIES IN FLEXOGRAPHIC INK MARKET
FIGURE 4 FLEXOGRAPHIC INK MARKET TO GROW AT A MODERATE CAGR BETWEEN
2015 & 2020
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Canadian Printing Ink Manufacturers' Association (CPIMA), Ink World, Expert Interviews, and
MarketsandMarkets Analysis
ATTRACTIVE MARKET OPPORTUNITY
• Global flexographic ink market is
estimated to be $XX million in 2015 and
projected to grow at a CAGR of XX%
between 2015 and 2020 to reach $XX
million in 2020.
• The market growth is attributed to the
increasing demand from flexible packaging
and tags & labels industries.
• Emerging economies such as India, China,
and Brazil offer opportunities to global
flexographic ink market.
• New product development & launch and
agreement & collaborations are expected
to offer lucrative opportunities to the
market players in the next five years.2015 2020
XX%CAGR
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Flexographic Ink Market - Global Forecast to 2020
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2.2 LIFE CYCLE ANALYSIS, BY REGION
The flexographic ink market in this report is divided into four main regions, namely, North America, Europe,
Asia-Pacific, and RoW (includes Brazil and Russia). Brazil and Russia are driving the flexographic ink
market in the RoW region, and are estimated to register a CAGR of XX%, by volume between 2015 and
2020.
FIGURE 5 ROW MARKET TO SOON ENTER AN EXPONENTIAL GROWTH PHASE
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM), International Paint and
Printing Ink Council (IPPIC), Canadian Printing Ink Manufacturers' Association (CPIMA), Ink World, Expert Interviews, and
MarketsandMarkets Analysis
Europe commands the largest share of the total flexographic ink market in terms of volume and value
followed by North America, while the Asia-Pacific and RoW markets are in a growth phase in the
flexographic ink market life cycle. The European and North America flexographic ink market is estimated to
witness a slower growth rate as compared to Asia-Pacific and RoW region due to the Eurozone debt crisis
and the subsequent decline in the economy in recent years. The Asia-Pacific flexographic ink market is in a
growth phase. This growth is attributed to the booming packaging industry in China and India and
increasing demand for flexographic inks due to the growing purchasing power parity. The RoW region is
also in a growth phase as the flexible packaging and folding cartons application are growing at a high rate
due to recent and scheduled global events such as FIFA World Cup 2014 and Summer Olympics 2016.
Such events lead to huge spending in packaging of different articles and consumer goods, driving the
flexographic ink market.
GR
OW
TH
(V
OL
UM
E)
TIMEINTRODUCTION GROWTH MATURITY DECLINE
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3 INDUSTRY TRENDS
3.1 COST ANALYSIS
In inks market, more than half of the raw materials are obtained from crude oil or petroleum derivatives,
therefore the costs are extremely sensitive to the fluctuations in price of crude oil. Crude oil is one of the
key raw materials used for producing flexographic ink. Thus, fluctuations in crude oil price directly affect
the day-to-day operations of the ink manufacturers.
Flexographic ink manufacturers have to take certifications and approvals from regulatory bodies to meet
the client requirements and government regulations. If a manufacturer sells additive in bulk quantities, it
needs to have a level of safety and health certification. This also adds up to the cost of the additive,
thereby increasing the cost of the inks.
The need to comply with this legislation for making environment friendly ink so that it not harm customers
by various institutions and government raises the total production cost by at least XX% to XX%. These cost
increases can be fully prevented by the application of water based inks as approvals are not costly due to
low toxicity content of these inks. The final cost for the flexographic ink depends on the price of additives,
resin, pigments, and other external factors. The external factors were identified as:
Ink and associated cost: Cost of ink and additives, energy consumption in dryers, removal and
treatment of waste
Environment and safety: Waste gas incineration, reduction, and control of fugitive solvent
emissions, waste water treatment, storage, application of best available techniques, prevention
of explosive atmospheres
Other cost: Anilox rollers, image carriers, tests, and other indirect costs
Management time: Introduction of water-based inks, quantification, and reporting of fugitive
emissions, drafting a reduction plan, annual solvent balances, complex environmental permit,
explosion protection document, compliance with Occupational Exposure Limits
POINT-OF-CARE DIAGNOSTICS MARKET
[(Products – Glucose Monitoring & Infectious Diseases Testing Kits,
Cardiac & Tumor Markers), (End Users – Self & Professional
Monitoring), (Over –the- Counter & Prescription Based)]
– Global Forecast to 2018]
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Flexographic Ink Market - Global Forecast to 2020
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FIGURE 6 PRICING TREND (2000-2030): VOLATILITY IN THE PRICE OF ADDITIVE USED IN
THE FLEXOGRAPHIC INK INDUSTRY
Note: The pricing trend analysis is estimated based on the changing manufacturer prices over the past few years.
Source: Press Releases, Investor Presentations, Secondary Literature, Expert Interviews, and MarketsandMarkets Analysis
Increase in the price of additives, solvents, and resins due to increasing raw materials prices or value
addition during the processing of additive is ultimately added in the total cost of the flexographic inks.
However, additives generally add around XX% to XX% to the total cost of inks due to their lower volume
consumption in the final product, whereas, resins add XX% approximately and solvents add XX%-XX% to the
total cost. Therefore, volatility in the price of additives is expected to have a moderate impact in the price
of the inks in the coming years.
High
Low
Vo
lati
lity
in
Ad
dit
ive
Pri
ce
s
2000-2010 2010-2020 2020-2030
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4 FLEXOGRAPHIC INK MARKET ANALYSIS, BY REGION
4.1 ROW
The RoW includes Russia, Brazil, and others (includes the Middle East, Latin America-excluding Brazil, and
Africa). Other countries have a very small market share, and hence are not included in our market analysis.
TABLE 1 ROW: FLEXOGRAPHIC INK MARKET SIZE, BY COUNTRY, 2013–2020 (KT)
Country 2013 2014 2015 2020 CAGR%
(2015–2020)
Brazil XX XX XX XX XX
Russia XX XX XX XX XX
Others XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Canadian Printing Ink Manufacturers' Association (CPIMA), Ink World, Expert Interviews, and
MarketsandMarkets Analysis
TABLE 2 ROW: FLEXOGRAPHIC INK MARKET SIZE, BY COUNTRY, 2013–2020 ($MILLION)
Country 2013 2014 2015 2020 CAGR%
(2015–2020)
Brazil XX XX XX XX XX
Russia XX XX XX XX XX
Others XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Canadian Printing Ink Manufacturers' Association (CPIMA), Ink World, Expert Interviews, and
MarketsandMarkets Analysis
Major international printer brands are planning to establish their base in the Latin America. Latin America
has a growing printing ink industry and the ink market was estimated to be $XX billion in 2013, which are
attracting the printing ink manufacturers to invest in the region. This has also led to the growth of the
domestic and multinational ink manufacturers by some merger and acquisition activities in the printing ink
market. The major flexographic Ink companies operating in theses region are SICPA and Nazdar, the
growth has primarily come from product sales instead of acquisitions. In terms of ink suppliers, the
concentration process is on-going, thereby reinforcing the presence of international suppliers, such as
BASF and Flint Ink. BASF has also been active, acquiring Tintas Graficas in Chile, Tintas Graficas Vencedor
in Peru, and distribution and production licensee agreement with local ink manufacturer Neograf in
Argentina.
Countries such as Columbia and Chile have witnessed growth particularly in the packaging market.
Flexographic process is increasing in popularity, particularly in the labelling market. Flexography is
witnessing the biggest growth, partly due to the substitution of some rotogravure applications.
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TABLE 3 ROW: FLEXOGRAPHIC INK MARKET SIZE, BY RESIN TYPE, 2013–2020 (KT)
Resin Type 2013 2014 2015 2020 CAGR%
(2015–2020)
Acrylic XX XX XX XX XX
Nitrocellulose XX XX XX XX XX
Polyamides XX XX XX XX XX
Polyurethane XX XX XX XX XX
Others XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Ink World, Expert Interviews, and MarketsandMarkets Analysis
TABLE 4 ROW: FLEXOGRAPHIC INK MARKET SIZE, BY RESIN TYPE, 2013–2020 ($MILLION)
Resin Type 2013 2014 2015 2020 CAGR%
(2015–2020)
Acrylic XX XX XX XX XX
Nitrocellulose XX XX XX XX XX
Polyamides XX XX XX XX XX
Polyurethane XX XX XX XX XX
Others XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Ink World, Expert Interviews, and MarketsandMarkets Analysis
According to industry experts, the dynamic development of the flexible packaging application in the RoW
region is rapidly growing, due to the demand for consumer goods that is significantly rising at a rate of XX%
per annum.
TABLE 5 ROW: FLEXOGRAPHIC INK MARKET SIZE, BY TECHNOLOGY, 2013–2020 (KT)
Technology 2013 2014 2015 2020 CAGR%
(2015–2020)
Solvent XX XX XX XX XX
Water XX XX XX XX XX
UV XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Ink World, Expert Interviews, and MarketsandMarkets Analysis
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Flexographic Ink Market - Global Forecast to 2020
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TABLE 6 ROW: FLEXOGRAPHIC INK MARKET SIZE, BY TECHNOLOGY, 2013–2020 ($MILLION)
Technology 2013 2014 2015 2020 CAGR%
(2015–2020)
Solvent XX XX XX XX XX
Water XX XX XX XX XX
UV XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Ink World, Expert Interviews, and MarketsandMarkets Analysis
The market for the flexible packaging application in Brazil and Russia contributed XX% and XX%,
respectively, out of the total flexible packaging demand in 2011, whereas countries, such as Vietnam and
Indonesia have collaboratively contributed about XX% of the global flexible packaging demand in the same
year.
The packaging industry is continuously growing in these countries due to the changing size of packaging
and increasing usage of Internet which is increasing the demand from e-retailing. This is driving the
flexographic ink market in the RoW region.
TABLE 7 ROW: FLEXOGRAPHIC INK MARKET SIZE, APPLICATION, 2013–2020 (KT)
Application 2013 2014 2015 2020 CAGR%
(2015–2020)
Corrugated Cardboard XX XX XX XX XX
Flexible Packaging XX XX XX XX XX
Tags and Labels XX XX XX XX XX
Folding Cartons XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Ink World, Expert Interviews, and MarketsandMarkets Analysis
TABLE 8 ROW: FLEXOGRAPHIC INK MARKET SIZE, BY APPLICATION, 2013–2020 ($MILLION)
Application 2013 2014 2015 2020 CAGR%
(2015–2020)
Tags and Labels XX XX XX XX XX
Flexible Packaging XX XX XX XX XX
Corrugated Cardboard XX XX XX XX XX
Folding Cartons XX XX XX XX XX
Total XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Ink World, Expert Interviews, and MarketsandMarkets Analysis
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The Brazilian flexible packaging market is the powerhouse of the Central and South American market, and
accounted for XX% of its total consumption and production in 2006. It is growing by XX% per annum from
2006.
This increase is due to the growing benefits from flexography such as short run printing, excellent finish,
and rising demand of flexography from flexible packaging segment for printing.
4.1.1 RUSSIA
The Russian economy is a mixed economy with abundance of natural resources, such as oil, natural gas,
and precious metals, which make up for a major share of the total Russia's exports. In 2012, oil & gas
sector accounted for about XX% of the GDP, XX% of federal budget, and over XX% of total exports.
According to IMF, Russia’s GDP growth in 2014 was estimated at XX%, and is expected to increase to XX%
by 2019, with increasing purchasing parity and decline in unemployment. Rising GDP is one of the
indicators for increased demand of products which is expected to increase the demand for ink for printing
thereby increasing the demand in the flexographic ink market.
TABLE 9 RUSSIA: FLEXOGRAPHIC INK MARKET SIZE, 2013–2020 (KT & MILLION)
Particulars 2013 2014 2015 2020 CAGR%
(2015–2020)
Volume (KT) XX XX XX XX XX
Value ($Million) XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Canadian Printing Ink Manufacturers' Association (CPIMA), Ink World, Expert Interviews, and
MarketsandMarkets Analysis
The Russian market of printing ink is considered as the largest market in comparison with other regions
that fall under the RoW category. Russia and Ukraine, the largest printing ink markets in Eastern Europe in
terms of sales, which are currently in a dicey situation owing to a backdrop of a political crisis involving the
two countries, the sales volumes for printing ink in the SOHO market, have reduced. In a way, the decrease
in sales may be attributed to the overall global trend in the monochrome printing in Central and Eastern
Europe. Still, the growing political and economic crisis remains the main causes of significant decrease in
the market share of the print industry in these two countries.
Industry experts believe that the reduced economic activity between Russia and certain European
countries may have a negative impact on the growth of the local economy; the current political situation is
also expected to have a direct influence on the printing ink market during the forecasted period.
4.1.2 BRAZIL
Brazil is considered as the seventh largest economy by nominal GDP, and also the seventh largest
purchasing power parity. The economy of Brazil is characterized by an inward-oriented economy. With an
average annual of over XX%, Brazil is expected to become one of the fastest-growing economies in the
world. Increasing activities such as the Olympics scheduled in 2016 and economic growth is expected to
result in increased demand in the flexographic ink market.
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TABLE 10 BRAZIL: FLEXOGRAPHIC INK MARKET SIZE, 2013–2020 (KT & MILLION)
Particulars 2013 2014 2015 2020 CAGR%
(2015–2020)
Volume (KT) XX XX XX XX XX
Value ($Million) XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Canadian Printing Ink Manufacturers' Association (CPIMA), Ink World, Expert Interviews, and
MarketsandMarkets Analysis
Brazil contributed XX% in terms of volume of the total RoW flexographic ink market in 2014. The Brazil
flexographic ink market in terms of value was estimated at $XX million in 2015, which is projected to reach
$XX million by 2020, at a CAGR of XX% between 2015 and 2020.
4.1.3 OTHERS
The others include the Middle East, Latin America (excluding Brazil), and Africa that account for a
considerable share of the flexographic ink market.
TABLE 11 OTHERS: FLEXOGRAPHIC INK MARKET SIZE, 2013–2020 (KT & MILLION)
Particulars 2013 2014 2015 2020 CAGR%
(2015–2020)
Volume (KT) XX XX XX XX XX
Value ($Million) XX XX XX XX XX
Source: Press Releases, Investor Presentations, National Association of Printing Ink Manufacturers (NAPIM) International Paint and
Printing Ink Council (IPPIC), Canadian Printing Ink Manufacturers' Association (CPIMA), Ink World, Expert Interviews, and
MarketsandMarkets Analysis
The other countries of the RoW region contributed XX% of the total RoW flexographic ink market in terms of
volume in 2014. The others market segment in RoW region was estimated at $XX million in 2015 in terms
of value, which is projected to reach $XX million by 2020, at a CAGR of XX% between 2015 and 2020.
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Flexographic Ink Market - Global Forecast to 2020
© MarketsandMarkets
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