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Flexographic Printing Machine Market to Approach US$ 3,574.6 Mn by 2028, Supported by Investments from F&B Industry & Rising Demand for Packaging Products
NEW YORK CITY, NEW YORK, UNITED STATES, July 8, 2022 /EINPresswire.com/ — Persistence Market Research has published a new research study on the global “flexographic printing machine market” in its latest report titled “Flexographic Printing Machine Market: Global Industry Analysis 2013–2017 and Forecast, 2018–2028.” Globally, the production of flexographic printing machines is growing, supported by the demand from countries in APECJ, North America, and Europe. Developments in flexographic printing machines, such as automation and production of consumer goods and newspapers are the key driving force behind the growing installation of latest flexographic printing machines.
The global market for flexographic printing machines had witnessed substantial progress in 2018 and is expected to reach a market value of US$ 1,900.1 Mn by 2018. Additionally, the global demand for flexographic printing machines will also be influenced by growth in motion control systems and rising urbanization in developing economies, such as India and China. Population growth has also been directly influencing the installation of flexographic printing machines.
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Inline type flexographic printing machines with 6 colours & above find high adoption in developed economies, especially European countries such as Germany, the U.K., France, and Italy. Stack type flexographic printing machines with advancements in servo technology are gaining traction in developing economies. The growth of flexographic printing machines is positively impacted by their application in electronic products.
This has led to the growth of the global flexographic printing machine market in countries such as China, the U.S., Taiwan, South Korea, Japan, India and Germany. The establishment of new manufacturing units for flexographic printing machines and rising investments in developing countries across Asia are expected to enhance the demand for flexographic printing machines over the forecast period.
On the basis of product type, inline type flexographic printing machines are expected to remain prominent in terms of global market share, and reach approximately a 57.8% share by the end of 2028. Based on colouring capacity, the 6 color & above segment is expected to remain prominent in the global flexographic printing machine market, accounting for an estimated value of US$ 3,004.4 Mn by 2028 end.
In 2018, China and APECJ were pegged to be the attractive regions in the flexographic printing machine market, accounting for more than 28% of the global market share. Advancements in flexographic printing machines for printing applications in electronic products are expected to drive the demand in regions such as APECJ, China and North America.
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Increasing demand for inline type flexographic printing machines is expected to influence leading manufacturers to initiate joint ventures with regional suppliers and distributors to intensify their business. Bobst Group SA, Gallus (Heidelberger Druckmaschinen AG), Koenig & Bauer, KOMORI Corporation, Mark Andy Inc., WINDMOELLER & HOELSCHER CORPORATION, Barry-Wehmiller Companies are some of the key players operating in the global flexographic printing machine market.
Manufacturers are channelizing efforts to increase their manufacturing and distribution units to cater to the demand from the rising import and export of new flexographic printing machines. Further, the global flexographic printing machine market is expected to be driven by new projects related to labelling, packaging and food and beverage.
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Long-term Outlook: In terms of market value, the global flexographic printing machine market is projected to register a 6.5% CAGR during the forecast period and create an absolute $ opportunity worth worth US$ 1,674.5 Mn. During the forecast period, APECJ and China are likely to witness high adoption of flexographic printing machines and register CAGRs of 6.6% and 6.8%, respectively.
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