Flexography (abbreviated as flexo) is a form of rotary web letterpress, combining features of both rotogravure printing and letterpress which utilizes a flexible relief plate for printing. Flexographic printing is primarily used for printing metallic films, plastic, cellophane and other non-porous substrate which are required for various types of packaging and is well suited for solid colour large area printing application. Its widespread adoption is mainly attributed to two main reasons which are simple printing operation and easy adaptation to the use of water-based inks. The major operations carried out during flexographic printing are image preparation, platemaking, printing and finishing.
Global Flexographic Printing Technology Market Dynamics
The market of global flexographic printing technology is anticipated to be driven by increase in the demand for low cost packaging solutions primarily for food & beverage industry. Moreover, technological advancements in flexographic printing technology such as high quality digital flexographic plates and printing software optimization is mainly driving the consumer preference towards flexographic printing solutions. Besides this, flexographic printing process offers complete product at the end of the process as it includes varnishing, die cutting, lamination, embossing, foiling, etc. which has significantly impacted the growth of the market and is anticipated to be the major growth driver during the forecast period.
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Global Flexographic Printing Technology Market Segmentation
The global Flexographic Printing Technology market is segmented on the basis of type of application such as packaging, product label, corrugated print, cardboard boxes, and other products. Among applications, corrugated print segment is expected to hold the largest market share followed by packaging in the global flexographic printing technology market over the forecast period. The global flexographic printing technology market is also segmented on the basis of end-use industries such as food & beverage, pharmaceutical, advertising and household. Under end-use industries, food & beverage segment is expected to hold the highest market share during the forecast period in the global flexographic printing technology market.
Global Flexographic Printing Technology Market: Regional Outlook
Geographically, the Global flexographic printing technology market is segmented by six major regions which include North America, Latin America, Western and Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, and Middle East & Africa. The adoption of flexographic printing solutions in various regions is primarily attributed to various factors namely training, consumable costs, and changing perceptions about the flexographic printing process —mainly quality concerns. By region, North America is expected to hold highest market share followed by Europe in the global flexographic printing technology market. However, global growth opportunities mainly lies in the emerging markets where flexographic printing technology is not currently dominant. Rising income and increasing urbanization in these countries, consumers are more likely to purchase packaged foods at retail stores in comparison to fresh foods from local outdoor markets.
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Global Flexographic Printing Technology Market Players
The major players identified across the value chain of global Flexographic Printing Technology market include BOBST, SOMA Engineering, Uteco Group, Focus Label Machinery, Consolidated Label Co, Flint Group, Flexographic Printing Plate Co., Inc., de Elliotte Co Inc., Ligum, 3M and others. The companies are emphasizing on research & development and new product development in order to maintain the competitive advantage in global flexographic printing technology market during the forecast period. In order to meet the increasing demand of printing seamless motives and high resistance to solvent, companies all over the world are focusing towards the development of sleeves types and rollers in order to expand their product portfolio and increase global footprint. The companies are also focusing on different strategies in order to maintain the market share in the global flexographic printing technology market.