Flexographic Printing Machine Market to Approach US$3,574.6 Million by 2028
Flexographic Printing Machines Market to Approach US$3,574.6 Million by 2028 Driven by F&B Industry Investments and Growing Demand for Packaging Products
NEW YORK CITY, NEW YORK, USA, July 8, 2022 /EINPresswire.com/ — Persistence Market Research has published a new study on the global market “flexographic printing machine market” in its latest report titled, “Flexographic Printing Machinery Market: Global Industry Analysis 2013-2017 and Forecast, 2018-2028”. Globally, production of flexographic printing machines is growing, supported by demand from APECJ countries, North America and Europe. Developments in flexographic printing machines, such as automation and the production of consumer goods and newspapers, are the main driver for the increasing installation of the latest flexographic printing machines.
The global flexographic printing machine market witnessed substantial progress in 2018 and is expected to reach a market value of US$1,900.1 million by 2018. In addition, the global demand for flexographic printing machine will also be influenced by the growth of motion control systems and increasing urbanization in developing economies, such as India and China. Population growth has also directly influenced the installation of flexographic printing machines.
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In-line type flexographic printing machines with 6 colors and above are widely adopted in developed economies, especially European countries such as Germany, UK, France and Italy. Stack type flexographic printing machines with advances in servo technology are gaining ground in developing economies. The growth of flexographic printing machines is positively influenced by their application in electronic products.
This has led to the growth of the global flexographic printing machine market in countries such as China, USA, Taiwan, South Korea, Japan, India, and Germany. Establishment of new manufacturing units of flexographic printing machines and rising investment in developing countries in Asia are expected to increase the demand for flexographic printing machines during the forecast period.
Based on product type, inline type flexographic printing machines are expected to remain significant in terms of global market share and reach around 57.8% by the end of 2028. coloring, the 6+ color segment is expected to remain significant in the global flexographic printing machine market, worth an estimated US$3,004.4 million by the end of 2028.
In 2018, China and APECJ were considered the attractive regions in the flexographic printing machine market, accounting for more than 28% of the global market share. Advances in flexographic printing machines for printing applications in electronic products are expected to drive demand in regions such as APECJ, China and North America.
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The growing demand for in-line type flexographic printing machines is expected to prompt major manufacturers to form joint ventures with regional suppliers and distributors to scale up 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 major players operating in the global flexographic printing machinery market.
Manufacturers are channeling their efforts to increase their manufacturing and distribution units to meet the growing demand for the import and export of new flexographic printing machines. In addition, the global flexographic printing machine market is expected to be boosted by new projects related to labeling, packaging, and food and beverages.
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Long-term outlook: In terms of market value, the global flexographic printing machinery market is expected to register a CAGR of 6.5% during the forecast period and create an absolute dollar opportunity worth 1,674 .5 million US dollars. During the forecast period, APECJ and China are expected to experience high adoption of flexographic printing machines and register CAGRs of 6.6% and 6.8%, respectively.
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