The term "flexographic printing machine" refers to a type of printing device that uses a flexible relief plate for packaging and labelling purposes. Flexographic printing, a contemporary adaptation of letterpress, uses water-based and ultraviolet inks to print on woven, nonwoven, plastic, and paper. It is an effective printing method applied to long- and medium-run printing applications. The market for central impression type flexographic printing machines is expanding due to several developments, including the rising use of automation and servo drive technology. The market is expanding as a result of numerous factors, such as increasing worldwide production activities in developing nations. Central imprint flexographic printing machines are mostly used in packaging, and their acceptance rate has increased significantly over the past few years, mostly due to industrialized nations. During the projected period, cheap installation and maintenance costs are anticipated to aid the market's expansion.
The regional market's expansion had been hampered by the COVID-19 outbreak. The area has been recovering from the pandemic, nevertheless, as a result of several government programmes, such as widespread COVID-19 vaccination drives and economic activity that has returned to pre-pandemic levels. As a result of COVID-19, both the food and beverage industries and the pharmaceutical industry experienced tremendous growth. However, on the supply side, due to logistical problems, the suppliers had trouble obtaining the raw materials for the machines. Throughout the projected period, these activities will support the growth of the central impression type flexographic printing machine market.
Increased Demand in Food & Beverage Sector to Drive Market
The market for central impression type flexographic printing is predicted to develop in the future due to the rising demand for packaged food goods. Unless the packaging is damaged or opened, the packaged food products are foodstuffs that have been pre-packed in the packaging to provide shelf life and sterility to food. Flexographic printing is required to produce convenient, lovely, economical, and lightweight packaging because to the rising demand for packaged food products. Flexographic printing on label packaging helps with the efficient marketing of food products and information about them. For instance, the Food Industry Association (FMI) predicted that online sales of packaged foods and beverages might reach $109 billion in 2021. As a result, the market is expanding as a result of the rising demand for packaged food goods.
High Price of Raw Material to Hamper Market Growth
The expansion of the global market for central impression type flexographic printing machines is significantly constrained by a number of adverse factors. A significant aspect that will likely have a negative impact on future market revenue development is the high initial setup cost. However, shifts in the cost of raw materials have an impact on the pricing of flexographic printing equipment. Vendors frequently include price adjustment clauses in sales contracts to prevent final product pricing changes. Furthermore, although these provisions typically alleviate risks, excessive costs, and raw material shortages, they could affect the client's demand for the finished product. Thus, the uncertainty of pricing and costs incurred by vendors and the challenge of passing these expenses to clients will negatively impact the market for central impression type flexographic printing machines.
Based on type, the central impression type flexographic printing machine market is segmented into high speed and medium speed. The high-speed category dominated the market in 2022. Throughout the predicted period, it is anticipated that this tendency would persist. This market is expanding as a result of its versatility and simplicity of substrate adaptation.
Based on application, the central impression type flexographic printing machine market is segmented into flexible packaging, pharmaceutical, corrugated, label manufacturing and others. The flexible packaging category dominated the market in 2022. The capacity of this section to safeguard the goods by indicating and keeping freshness is the reason for its popularity. Due to its modest weight, it is also simple to store and transport, which helps the market flourish. The capacity of these machines to generate high-quality labels quickly and at a reasonable cost per square inch has led to an increase in demand in recent years.
North America is projected to hold the largest share of the central impression type flexographic printing machine market over the forecast period because there are many important market participants in North America, significant initial investments, technological developments, acceptance of new technologies, and so on. The demand for packaged foods is fueled by factors like rapid urbanisation and increased income, which drive the market's expansion. On the other hand, the Asia Pacific central impression type flexographic printing machine market is anticipated to grow significantly because labour expenses are cheaper and raw material and supply production costs are lower. Due to technological advancements in the industrial sector, the target market is anticipated to grow throughout the forecast period. Over the projection period in this region, rising demand from the food and beverage industry is anticipated to enhance demand for central impression type flexographic printing machines.
LIST OF KEY COMPANIES PROFILED:
- Taiyo Kikai
- BFM srl
- KBA-Flexotecnica S.p.A.
- XIOAN AEROSPACE-HUAYANG
- Lohia Corp Limited
|Market Size in 2022||USD 0.9 Billion|
|Market Forecast in 2030||USD 1.3 Billion|
|Compound Annual Growth Rate||6.40%|
|Unit||Revenue (USD Million) and Volume (Kilo Tons)|
|Segmentation||By Type, By Application and By Geography|