USD 696.57 million
Report ID: SQSG15A2056 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 145 | Figures: 78
Global Flexographic Printing Plates Market size was valued at USD 696.57 million in 2021 and is poised to grow from USD 751.39 million in 2022 to USD 1259.85 million by 2030, growing at a CAGR of 7.8% in the forecast period (2023-2030).
Due to a growing emphasis on refining the performance of flexographic printing throughout time, the market has experienced considerable technological advancements. High demand for printing presses across a number of industries has caused the market to change. In recent years, photopolymer printing plates have replaced rubber printing plates as the material of choice. The adoption of flat-top dots technology by the printing sector has led to a steady increase in the market potential for flexographic printing plates. The growing consumer demand for eco-friendly packaging is one of the key reasons that will support the growth of the market. Businesses now have new revenue opportunities thanks to the advent of digital flexo plates.
The drive to use recyclable resources in printing presses, such as ink, is another factor driving the industry's expansion. The market has been growing as a result of firms across different industries' growing demand for flexible packaging.
US Flexographic Printing Plates Market is poised to grow at a sustainable CAGR for the next forcast year.
Global Market Size
USD 696.57 million
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Global Flexographic Printing Plates Market is segmented based on the Format, Type, Application, Design, Ink compatibility, and region. Based on Format, Flexographic Printing Plates Market is segmented into Digital, Analogue. Based on the Type, the Flexographic Printing Plates Market is segmented into Photopolymer, Rubber, Others. Based on the Application, the Flexographic Printing Plates Market is segmented into Package printing, Paper Substrate printing, Tag and Labels, Quality Flexography. Based on the Design the Flexographic Printing Plates Market is segmented into Rounded Top, Flat top dot. Based on the Ink compatibility, the Flexographic Printing Plates Market is segmented into Aqueous, Solvent based, UV Cured, Cationic Inks. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Flexographic Printing Plates Market Analysis by Application
Manufacturing of different stationery items, such as paper clips, pens, and markers, is part of the other application area. Due to its widespread use in packaging applications, the corrugated printing segment is anticipated to experience significant expansion during the forecast period. Flexographic printing plates are used to print on a variety of materials, including plastic, paperboard, and metal, among others. Global demand for packaged food items and growing consumer awareness of product safety are expected to drive market expansion over the coming years.
Flexographic Printing Plates Market Analysis by Format
Based on Types, it is estimated that the Digital segment will have the largest market share for Flexographic Printing Plates. A flexible substrate is covered in ink and bound with paper to form digital flexographic plates. By pushing the plate against a rubber mat or any other surface that may be used to draw an image, commonly a sheet of metal or glass, the picture is printed. The demand for eco-friendly products is one of the factors driving the market. Flexography printing uses analog flexographic plates. Depending on the ink used, they have a distinctive design and can create a variety of effects on the printing surface. These plates come in a variety of forms and sizes, which enables printers to produce images that are more precise.
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In terms of market size, North America will lead the worldwide flexographic printing plate market in 2021. Increased demand for printing plates across a variety of end-user industries is the result of growing demand for a variety of print goods and technological advancements in printing plates.
Asia-pacific is expected to grow at a high CAGR over the forecast period. Greater demand for flexographic printing plates has been seen in the area as a result of growing competition, consumer awareness, rising disposable income, the need for visually pleasing packaging, and sustainability in printing. China, India, and Malaysia are the region's three largest markets, which positively impacts new markets over the forecast period.
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Flexographic Printing Plates Market Drivers
Increased demand for flexographic printing plates
Growing eco-friendly packaging
Flexographic Printing Plates Market Restraints
Advent of New Printing Technologies
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The market for flexographic printing machines appears to be moderately fragmented and competitive. Few of the top players today control a large portion of the market. These major firms, who hold a sizable market share, want to increase their consumer base in other nations. To increase their market share and boost their profitability, these businesses are utilizing strategies to improve their connection.
Flexographic Printing Plates Market Top Player's Company Profiles
Flexographic Printing Plates Market Recent Developments
Flexographic Printing to Gain Popularity across Numerous End Use Industries due to its Safe and Sustainable Properties
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to SkyQuest’s global flexographic printing plates analysis, geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Flexographic Printing Plate Market's supply chain, distribution, and total revenue growth. The market is highly influenced by the environmentally conscious consumption of plastic and non-degradable products. As more consumers turn towards sustainable options, the market will witness lucrative growth opportunities.
|Market size value in 2021||USD 696.57 million|
|Market size value in 2030||USD 751.39 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Flexographic Printing Plates Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Flexographic Printing Plates Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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