Flexographic Printing Plates Market to Surge: FMI Forecasts a 7.8% CAGR, Reaching US$ 1592.4 Million by 2032 Fueled by Consumer Preference for Aesthetically Pleasing and Sustainable Packaging

The flexographic printing plates market is expected to record a CAGR of 7.8% during the forecast period 2022-2032, up from US$ 751.39 Million in the year 2022 to reach a valuation of US$ 1592.4 Million by 2032. Printing plates are popularly used in the print packaging industry for use in printing on paper and boards. A wide range of substrates have come to the fore that allow printing industries use a variety of inks for printing on plastics and fiber.

Flexographic printing plates have gained preference among end users for removing unwanted fluting during the printing of printing on corrugated boards. The growth in the flexographic printing plates market lies on the back of growing demand for corrugated packing by brands in various industries, world over.Over the years, focus to improve the performance of flexographic printing has increased, bolstering technological advancements in flexographic printing plates market. Extensive demand for printing presses in industries has helped the market to evolve. However, the recent COVID-19 pandemic has suppressed the use of flexographic printing plates, mostly on the back of sloth in manufacturing industries.

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What are the Key Drivers to the Flexographic Printing Plates Market ShareConsumers want products that are not only easy to handle, but also look good on shelves, driving flexography to be used in flexible packaging. In addition to fine screens and vignettes and smooth solids, flexographic printing platess provide exceptional quality on all commonly used substrates. As consumers become more aware of sustainable packaging, flexographic printing platess are in higher demand. Additionally, the introduction of digital flexo platess that are compatible with a wide range of ink types has opened up new possibilities for printing packaging in various end-user industries.

The fall in industries in China has likewise affected pigments for packaging inks. It has a huge impact on the use of flexographic printing platess. In addition, certain players have faced problems with supply disruptions that have made it impossible to ensure the availability of raw materials for printing platess. The flexographic printing plates market has also been adversely affected by a lack of appetite for both capital and consumer goods.

Flexographic printing platess will evolve due to the growing demand for sustainable packaging among consumers. New revenue opportunities were created for companies with the advent of digital flexo platess. The push to use recyclable materials, such as inks, in printing presses also reinforces the demand. Players are likely to find new opportunities in the flexographic printing platess market as the need for versatile platess increases.

Business Growth Drivers: 

  1. Increased Packaging Demand: The growing demand for flexible packaging in industries such as food and beverages, pharmaceuticals, and retail is a significant driver for the flexographic printing plates market. Flexographic printing is widely used for labels, tags, and flexible packaging, boosting the demand for printing plates.
  2. Advancements in Printing Technology: Ongoing advancements in flexographic printing technology, including improved plate materials, imaging techniques, and press capabilities, contribute to the market’s growth. Enhanced print quality, increased production efficiency, and reduced environmental impact are key factors driving the adoption of these innovations.
  3. Rising Popularity of Sustainable Printing: The global emphasis on sustainability has led to a surge in the demand for eco-friendly printing solutions. Flexographic printing plates offer environmentally friendly options, with water-based inks and solvent-free plates, aligning with the increasing preference for sustainable packaging practices.
  4. Expanding Label Printing Industry: The label printing sector, particularly in the context of product branding and information, is witnessing substantial growth. Flexographic printing is a preferred choice for label printing due to its cost-effectiveness, high-speed capabilities, and ability to accommodate a variety of substrates, driving the demand for flexographic printing plates.
  5. Global Economic Growth: As economies around the world continue to grow, there is an associated increase in consumer goods production and packaging needs. This economic expansion results in a higher demand for flexographic printing plates to cater to the rising requirements of packaging and labeling across diverse industries.

Key Segments:

By Format:

  • Digital
  • Analogue

By Type:

  • Photopolymer
  • Rubber
  • Others

By Application:

  • Package printing
  • Paper Substrate printing
  • Tag and Labels
  • Quality Flexography
  • Others

By Design:

  • Rounded Top
  • Flat top dot

By Type:

  • Thermal platess
  • Solvent based
  • Coating based

By Ink compatibility:

  • Aqueous
  • Solvent based
  • UV Cured
  • Cationic Inks

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Industry Trends:

  1. Digital Flexography: The integration of digital technologies in flexographic printing processes is a prominent trend. Digital flexography enables quicker plate production, improved print consistency, and flexibility in managing variable data, addressing the need for customization and short print runs in various applications.
  2. Evolving Plate Materials: Advances in plate materials, such as photopolymer and elastomer materials, contribute to improved print quality, durability, and cost-effectiveness. Manufacturers are exploring new materials that offer better performance characteristics, enabling enhanced printing capabilities.
  3. Automation and Industry 4.0 Integration: The adoption of automation and Industry 4.0 principles in flexographic printing is on the rise. Smart printing presses, real-time monitoring, and automated workflows contribute to increased efficiency, reduced waste, and better overall control of the printing process.
  4. Increased Focus on Hybrid Printing Solutions: Hybrid printing solutions that combine flexographic and digital printing technologies are gaining traction. This trend allows for greater flexibility, enabling printers to benefit from the speed and cost-effectiveness of flexography while incorporating the personalization capabilities of digital printing.
  5. Emphasis on Circular Economy: The flexographic printing plates market is aligning with the principles of the circular economy. Recycling initiatives, waste reduction, and the development of sustainable plate disposal methods are becoming integral parts of the industry’s approach, reflecting the broader sustainability goals across the printing and packaging sector.

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Author

Ismail Sutaria (Lead Consultant, Packaging and Materials) has over 8 years of experience in market research and consulting in the packaging & materials industry. Ismail’s strength lies in identifying key challenges faced by the client and offering logical and actionable insights to equip the clients with strategic decision-making power.

Ismail has been an instrumental part of several transformational consulting assignments. His key skills include competitive benchmarking, opportunity assessment, macroeconomic analysis, and business transformation advisory. Ismail is an MBA holder in Marketing and has a Bachelor’s Degree in Mathematics.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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