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The flexible letterpress printing ink is available in water-based, solvent-based, and ultraviolet-cured inks categories. These inks are also called flexographic inks. It is used in the letter printing process, in which, the ink is applied to various surfaces of printing plates which is mainly consist of an elastic material such as rubber or resin. These inks create a convex image on the printing plate and offer fine print images on wide ranges of substrates such as cloth, cardboard, plastics, and paper. Moreover, the flexible letterpress printing ink finds its utilization in the printing, food, textile, paper, packaging, and plastic industries.
The rising demand for ultraviolet-cured inks in the various application will boost the consumption of flexible letterpress printing ink. The ultraviolet-cured inks are dry by UV rays. It is highly known for providing fast curing and high level of adhesion. The product is suitable for shrink sleeve printing and packaging decoration printing on multiple substrates such as films and coated papers. It is also used in plastic and food industries. Hence, rising adoption of ultraviolet-cured inks in these applications will surge the demand for flexible letterpress printing ink. This will also help to contribute subtainable market growth during the period of time.
However, the availability of substitute including offset printing ink restrict the adoption of flexible letterpress printing ink in various applications. Hence, this іѕ anticipated hindering the market growth.
Key Market Driver -
The rising demand for ultraviolet-cured inks in various applications to drive the market growth.
Key Market Restraint -
Availability of substitutes to restrict the market growth.
Based on product, the flexible letterpress printing ink market is segmented into water-based inks, solvent -based inks, ultraviolet-cured inks, and others. Based on application, the market is segmented into cardboard, cloth, paper, plastic, and others. Based on end-use industry, the market is segmented into printing, food, textile, paper, packaging, plastic, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the flexible letterpress printing ink market include HINDUSTAN FLEX LTD, SOBU Machinery Co., ltd., Gallus, Ordant, Label Planet Ltd, OKILSATO, PRINTING INDUSTRY EXCHANGE, LLC, Kalamazoo, NIRY Group, Apex International, INX International Ink Co., and Testing Systems Pte Ltd.
Asia Pacific is anticipated to witness the highest growth in the flexible letterpress printing ink market. The growth is attributed to the rising adoption of the flexography process over other processes. Moreover, the increasing use of UV inks in the paper and food industry will boost the product consumption in this region. The increasing adoption of solvent-based ink in the newspapers will fuel the market growth in Europe. The high adoption of the product in the plastic and textiles industry will fuel the market growth in North America, in which the US and Canada are the leading countries. The Middle East & Africa is anticipated to witness significant growth, owing to the adoption of the water-based ink in the packaging industry.
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