Trends and Forecasts: Flexographic Printing Market Outlook for 2023-2028
Flexographic Printing Market Size
The Flexographic Printing Market Size is expected to grow significantly, from USD 8.7 billion in 2023 to USD 10.6 billion by 2028. According to a recent analysis by MarketsandMarketsTM, this projected growth is expected to occur at a compound yearly growth rate (CAGR) of 4.1% over the course of the forecast period. This growth trajectory highlights the industry's ability to adapt and persevere in the face of changing market conditions and technical breakthroughs.
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Flexographic Printing Market Growth
Emerging trends such as the explosive growth of the e-commerce sector and the rise in online purchasing are driving the packaging industry's dynamic expansion. The aforementioned advancements have resulted in an increased need for packaging materials that guarantee the safety and effective delivery of goods to customers. Flexographic printing has become a key technique in the packaging printing industry in response to this changing landscape, propelling future market expansion.
Flexographic Printing Market Segmentation
Corrugated packaging application to hold the largest share of the flexographic printing market during the forecast period.
Over the course of the forecast period, the corrugated packaging segment is expected to continue holding a dominant position in the flexographic printing market. Across numerous industries, corrugated boxes are a common packaging option for transporting and keeping a variety of goods. Flexographic printing is the method of choice for both manufacturers and merchants since it significantly improves the use and aesthetic appeal of these boxes. Flexographic printing has several benefits for corrugated packaging, one of which is the ability to print logos, barcodes, product descriptions, and other important information directly onto the packing material. By doing away with the need for extra labelling or secondary packing, this streamlined method lowers production costs and improves operational effectiveness.
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Market for wide web flexographic printing machine is expected to account for largest market share during the forecast period.
Because of its capacity to handle substrates with significant breadth, wide web flexographic printing stands out as a crucial market niche for flexographic printing. This sector of the market focuses on producing printed goods and large-scale packaging materials with exceptional efficiency, meeting the needs of industrial-scale applications. Wide web flexographic printing's ability to generate a sizable amount of printed material in a comparatively short amount of time is one of its main benefits. Because of its efficiency, it is especially well suited for industrial applications where meeting the demands of bulk products like grains, cement, and other industrial goods requires vast volumes of packing materials. Wide web printing also provides significant cost savings, particularly for large print runs. This printing method's intrinsic benefits of scale result in lower costs per unit, making it an affordable option for large-scale organisations. Wide web flexographic printing's capacity to optimise production costs, minimise material waste, and maximise substrate utilisation all contribute to its cost-effectiveness.
Flexible packaging application is expected to be the fastest growing market of the flexographic printing market during the forecast period.
In the world of contemporary packaging, flexible packaging stands out as a flexible and adaptive solution since it can accommodate a wide range of forms and sizes and provides numerous advantages to a variety of businesses. Flexible packaging, in contrast to rigid packaging, is made of materials that are simple to mould, fold, or bend to fit a variety of product shapes and sizes, providing unmatched simplicity and adaptability. The capacity of flexible packaging to successfully maintain the freshness and quality of items is one of its main benefits. Flexible packaging helps extend the shelf life of perishable goods by forming a barrier that protects them from moisture, oxygen, light, and other environmental elements, ensuring that they reach consumers in the best possible condition.
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Flexographic Printing Market Regional Analysis
Asia Pacific to have the largest share of flexographic printing market in during the forecast period.
Asia Pacific region is expected to have the largest market share of the Flexographic Printing Industry during the forecast period. A number of reasons highlight the Asia Pacific region's vibrancy and growth potential, making it a key hub for the flexographic printing industry. These factors include countries like China, Japan, South Korea, and India. Leading the way in this growth is the growing need for increased efficiency, constant innovation, and greater quality—all things that the flourishing packaging sector requires. The packaging industry's unwavering quest of perfection and progress is one of the main factors driving the growth of the flexographic printing market in Asia Pacific.
Flexographic Printing Market Key Industry Players
Leading players in the Flexographic Printing Companies include Bobst (Switzerland), Mark Andy Inc. (US), Nilpeter A/S (US), Amcor Plc (Australia), Windmöller & Hölscher (Germany), Heidelberger Druckmaschinen AG (Germany), (MPS Systems B.V. (Netherlands), Aim Machinetechnik Pvt. Ltd (India), Rotatek (Spain), Koenig & Bauer AG (Germany) and Comexi (Spain), Uteco (Italy), Codimag (France), Gaullus (Switzerland), Tresu Group (Denmark), Komori Corporation (Japan), Nuova Gidue (Italy), Omet Group (Italy) are few other key companies operating in the flexographic printing market.
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