South East Asia Flexographic Ink Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Resin Type (Polyamides Resin, Nitrocellulose, Polyurethane, Acrylic Resins, and Others), Technology (Water-Based Technology, Solvent Based Technology, and UV-Curable Technology), and Application (Flexible Packaging, Rigid Packaging, Folding Cartons, Tags and Labels, Paper and Board Printing, and Sheet Fed Printing
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.
Strategic Insights
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
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Flexographic Inks Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 South East Asia
4.3 Overview of the Raw Material Supply For Flexographic Ink
4.4 Printing Capabilities of the Print Machines
4.4.1 Gravure Printing Technical specifications
4.4.2 Comparison between Flexographic Printing Ink and Gravure Printing Ink
4.4.3 Key Companies Share for Gravure and Flexographic Printing Inks
4.4.4 South East Asia Market Overview of Gravure Printing Inks
4.5 Market Capitalization (Key Public Listed Companies, Stocks, Stock Prices)
4.6 Expert Opinion
5. Flexographic Inks Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Demand for Flexographic Ink from Packaging Sector
5.1.2 Increasing Use of UV-Curable Inks
5.2 Market Restraints
5.2.1 Shifting Preference from Print Media to Digital Media
5.3 Market Opportunities
5.3.1 Increasing Demand for Flexographic Ink in Food Packaging
5.4 Future Trends
5.4.1 Introduction of Eco-Friendly Inks
5.5 Impact Analysis Of Drivers And Restraints
6. Flexographic Inks – South East Asia Market Analysis
6.1 Flexographic Inks Market Overview
6.1.1 Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
6.2 Market Positioning – South East Asia Market Players
7. Flexographic Ink Market Analysis – By Resin Type
7.1 Overview
7.2 Flexographic Ink Market, By Resin Type (2019 and 2027)
7.3 Polyamides Resin
7.3.1 Overview
7.3.1.1 Polyamides Resin: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
7.4 Nitrocellulose
7.4.1 Overview
7.4.1.1 Nitrocellulose: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
7.5 Polyurethane
7.5.1 Overview
7.5.1.1 Polyurethane: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
7.6 Acrylic Resins
7.6.1 Overview
7.6.1.1 Acrylic Resins: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
7.7 Others
7.7.1 Overview
7.7.1.1 Others: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
8. Flexographic Ink Market Analysis – By Technology
8.1 Overview
8.2 Flexographic Ink Market, By Technology (2019 and 2027)
8.3 Water-Based Technology
8.3.1 Overview
8.3.1.1 Water-Based Technology: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
8.4 Solvent Based Technology
8.4.1 Overview
8.4.1.1 Solvent Based Technology: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
8.5 UV-Curable Technology
8.5.1 Overview
8.5.1.1 UV-Curable Technology: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
9. Flexographic Ink Market Analysis – By Application
9.1 Overview
9.2 Flexographic Ink Market, By Application (2019 and 2027)
9.3 Flexible Packaging
9.3.1 Overview
9.3.1.1 Flexible Packaging: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
9.4 Rigid Packaging
9.4.1 Overview
9.4.1.1 Rigid Packaging: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
9.5 Folding Cartons
9.5.1 Overview
9.5.1.1 Folding Cartons: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
9.6 Tags and Labels
9.6.1 Overview
9.6.1.1 Tags and Labels: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
9.7 Paper and Board Printing
9.7.1 Overview
9.7.1.1 Paper and Board Printing: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
9.8 Sheet Fed Printing
9.8.1 Overview
9.8.1.1 Sheet Fed Printing: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
10. Geography
10.1 South East Asia: Flexographic Inks Market
10.1.1 South East Asia: Flexographic Inks Market – Revenue and Forecast to 2027 (US$ Million)
10.1.2 South East Asia: Flexographic Inks Market, by Key Country
10.1.2.1 Malaysia: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
10.1.2.1.1 Malaysia: Flexographic Inks Market, by Resin Type
10.1.2.1.2 Malaysia: Flexographic Inks Market, by Technology
10.1.2.1.3 Malaysia: Flexographic Inks Market, by Application
10.1.2.2 Singapore: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
10.1.2.2.1 Singapore: Flexographic Inks Market, by Resin Type
10.1.2.2.2 Singapore: Flexographic Inks Market, by Technology
10.1.2.2.3 Singapore: Flexographic Inks Market, by Application
10.1.2.3 Thailand: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
10.1.2.3.1 Thailand: Flexographic Inks Market, by Resin Type
10.1.2.3.2 Thailand: Flexographic Inks Market, by Technology
10.1.2.3.3 Thailand: Flexographic Inks Market, by Application
10.1.2.4 Vietnam: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
10.1.2.4.1 Vietnam: Flexographic Inks Market, by Resin Type
10.1.2.4.2 Vietnam: Flexographic Inks Market, by Technology
10.1.2.4.3 Vietnam: Flexographic Inks Market, by Application
10.1.2.5 Rest of South East Asia: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
10.1.2.5.1 Rest of South East Asia: Flexographic Inks Market, by Resin Type
10.1.2.5.2 Rest of South East Asia: Flexographic Inks Market, by Technology
10.1.2.5.3 Rest of South East Asia: Flexographic Inks Market, by Application
11. Overview- Impact of Coronavirus outbreak
11.1 Overview
11.2 SEA: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Merger and Acquisition
12.2 Market Initiative
12.3 New Development
12.4 Others
13. Company Profiles
13.1 Nazdar Ink Technologiesglob
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 DIC Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Toyo Ink SC Holdings Co. Ltd.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Sakanta Inx Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 T & K Toka Co. Ltd.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Siegwerk Druckfarben AG & Co. KGaA
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Swan Coatings (M) Sdn. Bhd.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
Table 2. Malaysia Flexographic Inks Market, by Resin Type – Revenue and Forecast to 2027 (USD Million)
Table 3. Malaysia Flexographic Inks Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 4. Malaysia Flexographic Inks Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 5. Singapore Flexographic Inks Market, by Resin Type – Revenue and Forecast to 2027 (USD Million)
Table 6. Singapore Flexographic Inks Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 7. Singapore Flexographic Inks Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 8. Thailand Flexographic Inks Market, by Resin Type – Revenue and Forecast to 2027 (USD Million)
Table 9. Thailand Flexographic Inks Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 10. Thailand Flexographic Inks Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 11. Vietnam Flexographic Inks Market, by Resin Type – Revenue and Forecast to 2027 (USD Million)
Table 12. Vietnam Flexographic Inks Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 13. Vietnam Flexographic Inks Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 14. Rest of South East Asia Flexographic Inks Market, by Resin Type – Revenue and Forecast to 2027 (USD Million)
Table 15. Rest of South East Asia Flexographic Inks Market, by Technology – Revenue and Forecast to 2027 (USD Million)
Table 16. Rest of South East Asia Flexographic Inks Market, by Application – Revenue and Forecast to 2027 (USD Million)
Table 17. List of Abbreviation
LIST OF FIGURES
Figure 1. South East Asia Flexographic Inks Market Segmentation
Figure 2. South East Asia Flexographic Inks Market Segmentation – By Country
Figure 3. South East Asia Flexographic Inks Market Overview
Figure 4. Acrylic Resins Segment Held Largest Share of South East Asia Flexographic Inks Market
Figure 5. Rest of South East Asia Held Largest Share of South East Asia Flexographic Inks Market
Figure 6. South East Asia Flexographic Inks Market, Industry Landscape
Figure 7. South East Asia: PEST Analysis
Figure 8. Flexographic Ink Market Impact Analysis Of Driver And Restraints
Figure 9. North America: Flexographic Inks Market – Revenue and Forecast to 2027 (US$ Million)
Figure 10. Flexographic Ink Market Revenue Share, by Resin Type (2019 and 2027)
Figure 11. Polyamides Resin: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 12. Nitrocellulose: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 13. Polyurethane: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 14. Acrylic Resins: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 15. Others: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 16. Flexographic Ink Market Revenue Share, by Technology (2019 and 2027)
Figure 17. Water-Based Technology: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 18. Solvent Based Technology: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 19. UV-Curable Technology: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 20. Flexographic Ink Market Revenue Share, by Application (2019 and 2027)
Figure 21. Flexible Packaging: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 22. Rigid Packaging: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 23. Folding Cartons: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 24. Tags and Labels: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 25. Paper and Board Printing: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 26. Sheet Fed Printing: Flexographic Ink Market – Revenue, and Forecast to 2027 (US$ Million)
Figure 27. South East Asia: Flexographic Inks Market Revenue Share, by Key Country (2019 and 2027)
Figure 28. Malaysia: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
Figure 29. Singapore: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
Figure 30. Thailand: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
Figure 31. Vietnam: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
Figure 32. Rest of South East Asia: Flexographic Inks Market –Revenue and Forecast to 2027 (US$ Million)
Figure 33. Impact of COVID-19 Pandemic in SEA Country Markets
The List of Companies - Southeast Asia Flexographic Ink Market
- 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
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Southeast Asia Flexographic Ink market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.