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North America Flexographic Printing Inks Market size to hit $3bn by 2024
Published Date: 2018-10-09
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According to the Graphical Research new growth forecast report titled “North America Flexographic Printing Inks Market analysis based on Product, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 – 2024”, estimated to exceed USD 3 billion by 2024.
Increasing demand for flexographic printing inks in cosmetic packaging has been driving the market. Rising usage of cosmetic products among self-conscious population is propelling the packaging industry. For instance, U.S. cosmetic export in 2015 was over USD 2.0 billion in Asia Pacific countries such as Hong Kong, Japan, Korea, China, Malaysia, Vietnam, Thailand and Philippines. U.S. cosmetic export to China in 2015 was over USD 500 million further export had increased as much as 62% in recent years among high potential markets such as Indonesia, China and Vietnam. Growing U.S. cosmetic export increases the usage of packaging materials accelerating the flexographic printing inks application in cosmetic industry.
The market growth is hindered by stringent government regulation on plastic packaging materials. Few of the government agency such as EPA and FDA have implemented regulation limiting the applications of plastic packaging which may hinder market growth over the forecast timeframe.
U.S. has been one of the leading market of the industry, increasing usage of packaged food products in the region will substantially grow the market. Flexible packaging market has significant CAGR, the segment is likely to grow due to rise in consumption of beverage products. For instance, in 2017 acscan.org report, American Cancer Society stated that about 50% of the population consumes sugary drinks. Such trends exhibit that North America flexographic printing inks market have brighter scope in beverage packaging industry.
Leading players present in the market are INX International Corporation, Wikoff Color Corporation, Sun Chemical Corporation, etc. Small and medium scale market players are also present in the industry which significantly contributes toward market share.
Segments we cover:
North America Flexographic Printing Inks Market by Product
- Water-based inks
- Solvent-based inks
- UV-cured inks
North America Flexographic Printing Inks Market by Application
The above information is provided on a regional and country basis for the following: