Flexographic Printing Inks Market to hit $11 Billion by 2024

Global Market Insights Inc.

OCEAN VIEW, Delaware, February 28, 2017 /PRNewswire/ --

The report "Flexographic Printing Inks Market Size By Product (Water-based, Solvent-based, UV-cured), By Application (Flexible Packaging, Corrugated Containers, Folding Cartons, Tags & Labels), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 - 2024" by Global Market Insights, Inc. says Flexographic Printing Ink Market is slated to exceed USD 11 billion by 2024.

     (Logo: http://photos.prnewswire.com/prnh/20160418/799556-a )

The overall flexographic printing inks market size is primarily driven by increasing product demand in the flexible packaging industry over the past years. The overall flexible packaging industry is projected to expand at over 4% CAGR over the projected timeframe. In addition, flexible packaging finds broad application in the industries including food & beverage and cosmetics. Strong growth in these abovementioned sectors on account of increasing consumer spending pattern will subsequently boost the global industry share by 2024.

Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1163

Growing popularity of UV-cured flexographic printing inks market is another promising factor which will contribute the industry growth in the near future. It involves a high intensity UV radiation for inks drying process. This efficiently offers quick drying and thus improves the printing rate. Furthermore, the product does not carry any volatile organic compound (VOC) and is therefore preferred in the numerous applications including cosmetic food and beverage packaging. In addition, the product offers value added characteristics such as gloss and color consistency due to its high viscosity.

Solvent-based flexographic printing inks market size is strictly governed by norms laid by FDA owing to its VOC constituents, as these inks come in direct contact with food. Moreover, these inks also release VOC during the dying process, which makes the product harmful for the environment. This trend is likely to hamper the overall industry growth by 2024.

Asia Pacific flexographic printing inks market size was more than USD 2.5 billion in 2015. Strong growth in the food & beverage, pharmaceutical and cosmetic industry, particularly due to improved consumer lifestyles is the major factor contributing industry growth in the region. Furthermore, drifting pharmaceutical manufacturers focus towards establishing their manufacturing facilities in China and China, due to high medicine demand along, low initial investment and favoring government norms towards boosting their manufacturing sector will substantially boost the regional flexographic printing inks market size by 2024. Additionally, Europe is likely to observe growth close to 4.5% for flexographic printing inks between 2016 and 2024.