The global flexible letterpress printing ink market size is expected to gain momentum owing to the rising demand for ultraviolet-cured ink in various applications during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Flexible Letterpress Printing Ink Market, 2023-2030 When ink is applied to various surfaces of printing plates, which are generally formed of an elastic substance like rubber or resin, it is used in the letter printing process. These inks produce a convex image on the printing plate and produce beautiful print images on a variety of substrates including fabric, cardboard, plastic, and paper. It's utilized in a variety of industries, including food, textiles, paper, packaging, and plastics.
COVID-19 Impact-
Detrimental Impact of Covid-19 on Chemical Industry
The COVID-19 outbreak and global lockdown restrictions had an impact on flexible letterpress printing ink manufacturing activity around the world, putting short-term supply pressure on packaging makers as raw material suppliers have been operating at lower efficiencies.
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Segments-
By product, the market is segmented into water-based inks, solvent-based inks, ultraviolet-cured inks, and others. On the basis of application, the market is segregated into cardboard, cloth, paper, plastic, and others. On the basis of the end-use industry, the market is fragmented into printing, food, textile, paper, packaging, plastic, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
What does the Report Offer?
The market report for flexible letterpress printing ink offers integrated information on the key drivers, constraints, and opportunities driving industry growth. The research goes on to generate data volume by component, end consumer, and demographic.
Drivers & Restraints-
Increasing Demand from Various Applications to Stimulate Growth
The global flexible letterpress printing ink market growth is expected to grow due to the increasing demand from the various applications during the projected period. The UV-cured inks are dry UV rays that cure quickly and have a high level of adhesion. It can be used to print shrink sleeves and packaging decorations on a variety of substrates, including films and coated papers. It's also employed in the food and plastic sectors. Therefore, the increasing demand for the product in a variety of applications will boost its consumption.
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REGIONAL INSIGHTS
Increasing Usage of UV inks to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global flexible letterpress printing ink market share during the forecast period. The rising adoption of flexography process, usage of UV inks in paper and food industry are expected to drive the market in the region.
North America is expected to have a sizable share of the market. The rising adoption in plastic and textile industries in the US and Canada are the leading countries in the region.
Competitive Landscape-
Manufacturers Focus on R&D Investments to Strengthen their Position
A huge number of organizations compete in the market by employing a variety of techniques to acquire a competitive advantage. To meet consumer demand, the majority of them are focusing on introducing cutting-edge flexible letterpress printing inks.
Industry Development-
- November 2020: The acquisition of Super Enterprises Printing situated in Kuala Lumpur, Malaysia, by CCL Industries Inc., a world leader in specialty labels, was completed with immediate effect; the company is now known as "CCL Design."
List of Key Players Profiled in the Global Market for Flexible Letterpress Printing Ink:
- HINDUSTAN FLEX LTD
- SOBU Machinery Co. Ltd.
- Gallus Ordant
- Label Planet Ltd
- OKILSATO
- PRINTING INDUSTRY EXCHANGE
- Kalamazoo
- NIRY Group
- Apex International
- INX International
- Testing Systems Pte Ltd.
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