The demand within the global market for flexographic printing machine has been rising on account of key advancements in the outbound advertising sector across the world, find Transparency Market Research. The key vendors in the global flexographic printing machine market have been making ceaseless efforts to expand their consumer base in order to earn greater revenues. Furthermore, these vendors have also spent substantial amount of money on strategising their growth plans for the next few years. The efforts of these market players in the global market for flexographic printing machine are expected to clock in voluminous revenues for these vendors. The global market for flexographic printing machine is expected to witness cut-throat competition amongst the leading players in the years to come.
The global market for flexographic printing machine is projected to expand at a steady CAGR of 4.20% over the period between 2018 and 2026. Furthermore, the market for flexographic printing machine is projected to accumulate revenues worth US$ 3.25 Bn by 2026. On the basis of product type, stack press has attracted commendable demand from consumers in recent times. Based on geography, the demand for flexographic printing machine in Europe and North America has been rising at a stellar rate.
Increasing global packaging demand and growing printing requirements for advertising and print media will drive the growth of the global flexographic printing machine market over the forecast timeline. Increasing trend of converting simple package formats to flexible packaging due to benefits such as shelf life extension, lightweight nature, and easy open/close has increased the demand for flexographic printing machines and the trend is expected to continue over the forecast timeline.
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The adoption of e-books and internet has increased tremendously since the past decade. However, the demand for magazines, newspapers, and books is still relevant. The production of posters, flyers, and newspaper inserts also gets benefited from the flexographic machine’s ability to efficiently and quickly deal with larger print jobs. The printing capabilities of these printers are fairly flexible which can be used on other surfaces. The increasing demand for marketing and advertising flexes, billboards, and other media is expected to indirectly drive the demand for flexographic printing machines over the forecast period.
Flexographic printing has a higher initial setup cost depending on the customization required. This increases the initial setup cost of the total printing equipment. The machine also has lower printing quality than lithographic printing and has trouble with printing smooth color gradients. Moreover, it is difficult for flexographic printing to inherently print both process tones and solids within the same image carrier. All these factors are expected to restrict the growth of the flexographic printing machine market over the forecast timeline.
Technological advancements in ink quality is expected to offer potential growth opportunity for the flexographic printing machine 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.
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