Flexographic Printing Ink Market Worth Over $14B by 2024
A new research report by Global Market Insights predicts the flexographic printing inks market will surpass $14 billion by 2024.
Global Market Insights attributes this growth to the strong market demand in the flexible packaging industry, because the flexographic printing inks are strong contenders in the food, beverage and cosmetics packaging industries.
The increased valuation also has ties to the growing e-commerce industry. Global Market Insights pointed to a Pack Expo survey that showed that 34 percent of the customers who buy from e-commerce websites return their purchases if they don't like the packaging. As a result, the packaging market is looking for new solutions that require flexographic printing inks.
In addition, flexographic printing inks boast value-added options like gloss and color consistency thanks to its high viscosity.
Solvent-based inks make up 25 percent of the total flexographic inks market for this forecast period. These types of inks are promising because of their durability, high printing rate and scratch resistance. However, Global Market Insights pointed out that that they have a major roadblock in the form of the FDA. The solvent-based inks are governed by the FDA due to the presence of some volatile organic compounds (VOC), and the fact that these inks often come into contact with food. These inks often release VOC during the drying process, which can make them harmful for the environment, as well.
Read the full report here for more information.
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