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Packaging industry is poised to be growth engine, led by water-based inks.
July 25, 2018
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
The global flexographic ink market was valued at $6.23 billion in 2016, according to a report published by Coherent Market Insights. The global flexographic printing inks market has gained traction during the last five years, due to shifting consumer trend towards convenience and packed food. Increasing concerns over the high VOC emissions associated with solvent-based ink may hinder this market from growing in the following years. This in turn, is fueling growth in demand for UV-cured printing inks due to zero VOC emissions. Also, the market leading manufacturers of this market involve in new product development to meet the rising demand of customer. The water-based inks segment accounted for the maximum share in flexographic printing inks market in 2016, followed by solvent-based inks segment. Stringent regulations being imposed by the government and growing consumer awareness towards adopting low VOC inks in packaging of cosmetics and food is expected to fuel growth of the water-based inks segment. The flexible packaging industry is one of the key industries for the use of flexo inks. Rapid growth of food & beverage and retail industry in Asia-Pacific and North America is expected to enhance the growth of these inks in the forecast period.
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