The Global Flexographic Printing Machine Market size is expected to reach US$ 3.45 Bn by 2026, expanding at a CAGR of 4.7% from 2019 to 2026. Asia Pacific held the dominant share in the flexographic printing machine market in 2018.
Flexographic printing is the conventional printing process which is used for a variety of substrates and other products thereby enabling the printing of labels, packaging, cartons, and other products. This type of printing uses a flexible relief plate which features a raised image of the requested design. Modern technology has reduced the amount of time required to make flexographic plates. Using Computer to Plate (CTP) technology, the plate becomes ready after sending the image from the reprographic program. These plates are further wrapped around a cylinder mounted on the machine. An anilox roller provides ink to the plate which further transfers the ink to the substrate. Each plate has a different colored ink which is combined and creates the final image.
Increasing demand from the food and beverage industry globally will indirectly lead to more demand for flexographic printing machines. Several companies engage in long-term contracts with printing machine manufacturers to meet their demand for packaging and labeling in order to gain control over the cost.
Technological advancements and new product developments in printing machines has increased the demand for common impression flexographic printers, followed by the in-line press. Due to construction and multi-functional abilities of common impression printers, customers in North America have a wider product portfolio to choose from flexographic printing machines.
The global packaging industry is expected to cross over US$ 1 Trillion by 2020 which is driven by growth of emerging industry consumers looking for safety and convenience of packaged goods, as well as consumer expectations in developed industry for safety, portability, convenience, and product freshness. Growth in the food & beverages industry is the primary driver of the packaging market. This in turn boosts the demand for flexographic printing machines. Several companies engaged in packaging across multiple regions are signing long-term contracts with manufacturers of printing machines to meet their packaging and labeling requirements.
The flexographic industry in North America is expected to expand at a CAGR of 4% and is majorly fuelled by the development of new technologies in printing machines. This has given rise to the increase in demand for common impression flexographic printers, followed by the in-line press. Technological advancements have also increased the demand for automatic flexo printers due to increased accuracy and increased productivity.
Polyethylene dominates the printable substance market in North America due to the high sustainability, easy availability, and flexibility of the material. Currently, demand for labels and tags is high and it holds a share of 39% of the flexographic printers market. However, growth in the consumer goods industry has given rise to the growth of flexible packaging, followed by advertisements required to reach the consumers, thus increasing the flexographic printer usage for flexible packaging and print media. Nevertheless, labels and tags will still hold a high share during the forecast period.
The Asia Pacific market is expected to witness potential growth over the forecast period. Indian and Chinese industrial sector developments are expected to boost the demand for flexographic printing machines over the forecast timeline as the region is expected to witness steady growth of consumer goods packaging. Moreover, lesser raw material and labor cost is expected to increase the production of flexographic printing machines in this region.
Manufacturers are focusing on technological advancements in the flexographic printing machine market. Some of the industry participants in this market are Aim Machintechnik Pvt. Ltd., Bobst Group SA, Comexi, Edale UK Limited, Heidelberger Druckmaschinen AG, Koenig & Bauer, Mark Andy Inc., MPS Systems B.V., Nilpeter A/S, OMET, Palm Paper Machine, and Rotatek.
Global Flexographic Printing Machine Market, by Type
Global Flexographic Printing Machine Market, by Technology
Global Flexographic Printing Machine Market, by Printable Substances
Global Flexographic Printing Machine Market, by Application
Global Flexographic Printing Machine Market, by Geography