South East Asia Flexographic Ink Market Growth Drivers and Forecast by 2027

The South East Asia flexographic ink market was valued at US$ 443.26 million in 2019 and it is projected to reach US$ 661.06 million by 2027; it is expected to grow at a CAGR of 5.2% from 2020 to 2027.

Flexographic ink, also known as flexo printing ink, is used in the printing of packaging materials such as cardboard boxes, packaged food, paper bags, plastic bags, and newspapers.  There is an upsurge in demand for flexographic inks from the packaging industry due to the growing focus of manufacturers on the development of attractive packaging methods and materials for their products. UV curable ink is gaining high acceptance over other inks such as water-based ink and solvent-based ink due to its advantages such as high production output, superior bonding, low volatile organic compound (VOC) content, lowered drying time, reduced rejection rates, and better solvent resistance properties. The demand for UV-curable inks has also increased on the back of continuous changes in environmental regulations, and growing awareness and rising concern toward improving the safety of packaged foods. Technological advancements in the field have reduced the risk of fading, delamination, and bubble formations, which is anticipated to further drive the demand for flexographic inks.

The COVID-19 outbreak first began in Wuhan (China) in December 2019, and since then, it has spread at a fast pace worldwide. As of September 2020, Malaysia, Singapore, Thailand, and Vietnam are among the highly affected South East Asian countries in terms of confirmed cases and reported deaths. The COVID-19 pandemic has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Chemicals and materials is among the major industries facing serious disruptions.

South East Asia Flexographic Ink Market

Market Insights

Growing Demand for Flexographic Ink from Packaging Industry Fuels Market Growth

The demand for flexographic inks in the South East Asian market is majorly driven by the rapid growth in industrialization and packaging industry in countries such as Malaysia, Singapore, Thailand, and Vietnam. Increasing commercialization of flexible packaging due to its widespread applications is projected propels the demand for flexographic inks. Packaging is of utmost importance in industries such as cosmetics, pharmaceuticals, personal care products, and food & beverages. Attractive and colorful packaging is a key marketing tool that impacts the overall purchasing decision of customers. It increases the aesthetic appearance, offers product differentiation, and enhances company’s brand image. Additionally, continuous growth in the aforementioned industries, mainly due to improved consumer spending, is projected to augment the demand for flexible packaging, and thus flexographic printing inks, in the South East Asian market.

The rising interest of packaging companies in the development of attractive packaging methods and materials is also contributing to the rise in demand for flexographic inks. Innovative packaging helps companies in improving product presentation and differentiation, sustaining competitive rivalry, and enhancing product shelf-life. The demand for flexographic ink increases with the growth of the packaging industry as it is a key consumer of this product. Surging demand for printing inks in packaging applications such as tags and labels, flexible packaging, and folding cartons drives the South East Asian flexographic ink market.

Resin Type Insights

Based on resin type, the flexographic ink market is segmented into flexographic polyamides resin, nitrocellulose, polyurethane, acrylic resins, and others. In 2019, the acrylic resins segment led the market with the largest market share. Acrylic flexographic inks are extensively used with plastic packaging such as folding boxes, flexible packaging, tags, and labels. Moreover, low cost and easy availability of acrylic resins is projected to boost the demand for this type during the forecast period.

Technology Insights

Based on technology, the flexographic ink market is segmented into water-based technology, solvent based technology, and UV-curable technology. In 2019, the water-based technology segment led the market with the greatest share. The growth of the market for this segment is attributed to its properties such as less flammability, stable viscosity, low VoC emissions, and environment-friendly nature. Water-based inks are environmentally friendly, and deliver thinner and softer printing. Rising environmental awareness among consumers in developed and developing countries is compelling the printing industry to consider more eco-friendly printing methods. Rapid growth in corrugated cardboard and folding cartons demand is also driving the growth of the water-based flexographic ink market.

South East Asia Flexographic Ink Market, by Product Type – 2019 and 2027

Application Insights

Based on application, the flexographic ink market is segmented into flexible packaging, rigid packaging, folding cartons, tags and labels, paper and board printing, and sheet fed printing. In 2019, the flexible packaging segment held the largest share of the flexographic ink market. Flexible packaging can be easily modified or customized as per customer requirements. It ensures enhanced protection, convenient handling, and multiple packaging design options. Flexography is a widely used printing method for flexible packaging. Surging demand for flexible packaging across the food & beverages, healthcare, and personal care industries drives the demand for flexographic printing, as well as flexographic inks.

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South East Asia Flexographic Ink Market: Strategic Insights

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DIC Corporation, Toyo Ink Co. Ltd., Sakanta Inx Corporation, and SiegwerkDruckfarben AG & Co. KGaA are among the key players operating in the South East Asia flexographic ink market. These companies implement strategies such as mergers and acquisition to enlarge their customer base and gain significant share, which allows them to maintain their brand name in the global marketplace.

South East Asia Flexographic Ink Market – by Resin Type

• Polyamides Resin
• Nitrocellulose
• Polyurethane
• Acrylic Resins
• Others

South East Asia Flexographic Ink Market – by Technology

• Water-Based Technology
• Solvent Based Technology
• UV-Curable Technology

South East Asia Flexographic Ink Market – by Application

• Flexible Packaging
• Rigid Packaging
• Folding Cartons
• Tags and Labels
• Paper and Board Printing
• Sheet Fed Printing

Company Profiles

• Nazdar Ink Technologiesglob
• DIC Corporation
• Toyo Ink SC Holdings Co. Ltd
• Sakanta Inx Corporation
• T & K Toka Co. Ltd
• SiegwerkDruckfarben AG & Co. KGaA
• Swan Coatings (M) Sdn. Bhd

Report Scope

South East Asia Flexographic Ink Market Regional Insights

The regional trends and factors influencing the South East Asia Flexographic Ink Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses South East Asia Flexographic Ink Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

South East Asia Flexographic Ink Market Report Scope

South East Asia Flexographic Ink Market Players Density: Understanding Its Impact on Business Dynamics

The South East Asia Flexographic Ink Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the South East Asia Flexographic Ink Market are:

1. Nazdar Ink Technologiesglob
2. DIC Corporation
3. Toyo Ink SC Holdings Co. Ltd
4. Sakanta Inx Corporation
5. T & K Toka Co. Ltd

Disclaimer: The companies listed above are not ranked in any particular order.