Flexographic Printing Machine - Global Market Outlook (2021-2028)
According to Stratistics MRC, the Global Flexographic Printing Machine Market is accounted for $487.83 million in 2021 and is expected to reach $836.06 million by 2028 growing at a CAGR of 8.0% during the forecast period. Flexography printing is a technique which utilizes a flexible relief plate. It can be viewed as a modern version of letterpress which can be used for printing on almost any type of substrate. It is broadly used for printing on the non-porous substrates required for various types of food packaging.
Development of Global Print Media
With the rising global population, rapid urbanization, and the increasing rate of literacy around the world, the global print media sector is expected to grow around the world. Due to the factor of increased disposable income of consumers around the world, newspapers, magazines, and books among other products of the global print media industry are becoming more affordable. The rising global population and urbanization are also causing the continued demand for print media in advertising applications worldwide. Flexographic printing machines are used widely in the advertising industry for the printing of posters, flyers, billboards, and flexes, among other applications. Print media, the printing of labels, and also find application in various office and admin use due to its high printing speed. These machines are used to print magazines, newspapers, books, labels, and find applications in office and admin use due to the high speed of printing. Flexographic printing machines use both water-based as well as oil-based inks and are capable of printing on various surfaces. With the rising global population and increasing use in various applications in the global print media sector, the global market is expected to witness growth.
The global flexographic printing machine market growth is substantially hampered by several unfavourable factors. High initial cost of setup is a major factor expected to negatively impact market revenue growth going ahead. Based on latest techniques, these machine help in providing high accuracy packaging with lower wastage of packaging products. These machines are known for their excellent running conditions, excellent performance that cost high.
Technological Advancements & Rising Adoption of Flexible Packaging
Flexographic printing machines are used in the flexible packaging applications owing to their ability to print on flexible, non-rigid materials such as plastic or paper bags. Flexible packaging is growing in popularity in the packaging industry due to the various benefits such as longer shelf life of goods, the lighter weight of the packaging, and the easy to open and close nature of the packaging. The ability of it to extend the shelf life of products, is especially significant in the global food & beverage industry. Flexible packaging is also lightweight, thus increasing the ease with which these products can be transported and stored. Due to the high product to package ratio of flexible packaging, it also helps reduce consumer waste. The use of flexographic printing machines in flexible packaging is also important to the retail industry as it helps increase the visibility and the shelf appeal of the products. Technological advancements in ink quality are expected to offer potential growth opportunity for the market over the forecast time frame. Solvent based flexo inks tend to have a wider operation window which can be used for wider applications, particularly in the film structures. The industry has witnessed market shift from porous substrate printing to film printing within the folding carton, corrugated, and multi-walled bag market. This industry shift has benefited solvent-based inks and this trend is expected to continue over the forecast timeline.
Due to the increase in the new entrances, witness strong competition among numerous key players operating in the market. Additionally, small players are trying to enter the market owing to the increasing demand for it from the food & beverage industry.
Common Impression Cylinder Press segment is expected to be the largest during the forecast period
The central impression type flexographic press segment is expected to account for largest revenue share. This is due to numerous advantages such as complete automation of printing tasks, easy inspection of faults occurring during the process of printing, quick resolution, and high speed of printing, which can go up to 500 meters per minute.
The Food & Beverages segment is expected to have the highest CAGR during the forecast period
The food and beverage industry is one of the significant consumers of flexible packaging products such as films, pouches, and many more that are printed using flexographic printing machines. The increasing consumption of such packaging is expected to bolster the market demand for such machines over the forecast period. As flexographic printing involves the usage of quick-drying and non-toxic inks, it is desirable in the printing of food & beverage packaging and is expected to boost the adoption of the machines over the forecast period. Food & beverage is estimated to be the dominant market owing to the growing consumption of packaged food products. This industry is one of the major consumers of flexible packaging products such as films and pouches, which use flexographic printing machines for printing labels and packaging as these printing machines use quick drying and non-toxic inks, fuelling the market growth during the forecast period.
Region with highest share:
The Asia Pacific is projected to hold the highest market share, owing to expansions in the industrial sector in China and India are predicted to fuel the usage of machines in the Asia Pacific. Additionally, the low production cost of raw materials and supplies and the lower labor costs in China and India have led to an increase in the growth of local production of flexographic machines. The growth of servo drive technology and increasing adoption of automation with remote monitoring are among the other important factors driving the adoption of flexographic printing machines.
Region with highest CAGR:
North America is projected to have the highest CAGR; the growth is attributed to the presence of major players, technological advancements, and rising investments in research and development activities. The rising inclination is toward innovative, sustainable, and environment-friendly printing and packaging solutions in the food and cosmetic sector of North America to convey information about the product's identity in the most reliable way. Consumers are now more aware and conscious of the product, which has created a greater need to develop food labels that are clear and can be trusted. It has compelled many manufacturers to adopt advanced technologies and is expected to boost the market growth in this province.
Key players in the market:
Some of the key players profiled in the Flexographic Printing Machine Market include BOBST, Comexi, Ekofa, Heidelberger Druckmaschinen AG, KBA-Flexotecnica S.p.A., Lohia Corp Limited, Mark Andy, Nilpeter, Omet, Rotatek, Taiyo Kikai, UTECO, Weifang Donghang, WINDMOELLER HOELSCHER, XI'AN AEROSPACE-HUAYANG, Manugraph India Ltd.
In October 2019: BOBST launched VISION CI flexo press designed to deliver the most efficient performance for all production lengths on a wide range of substrates that is Fast to set up and changeovers and features technical innovations and automation that ensure repeatable process consistency, minimum waste, and easy manufacturing.
In March 2019: Manugraph has entered into a strategic alliance with Italy-based CI flexo press manufacturer Carraro. The core of the collaboration is technology transfer by Carraro to build high-quality CI flexo presses in India. Under the collaboration, Manugraph gets the drawings, know-hows and training from Carraro. A pioneer in making flexo presses, Carraro has been in the CI flexo business since the early 1950s. In fact, it was the first Italian manufacturer of flexographic printing technology.
In September 2019: Omet launched XFlex X7, a 670mm (26in) width flexo press aimed at shrink sleeve and flexible packaging production. The press features another new development: Omet's High-Value Rotogravure (HVR) print unit.
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Table17 Global Flexographic Printing Machine Market Outlook, By Low-density Polyethylene (LDPE) (2020-2028) (US $MN)
Note- Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.