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 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.
Key Segments Profiled in Flexographic Printing Plates Market
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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Flexographic Printing Plates Market: Competitive Landscape and Recent Developments
The report on the flexographic printing plates market looks the various dynamics of the competitive landscape and recent strategies by top players. The study also looks the recent developments that may change the future growth trajectories. It scrutinizes the trends that will impact the entry of new players and factors that will define the consolidation strategies of emerging players in key regions in the flexographic printing plates market.
Flexographic Printing Plates Market: Regional Outlook
Several developing and developed economies have been at the center of development of prospects in the flexographic printing plates market. Most players are leaning on realigning strategies to combat the disruptions in supply chain caused by COVID-19 pandemic lockdowns imposed by numerous governments for a long time. Some prominent players are banking upon the popularity of eco-friendly printing substrates and cost-effective printing plates
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