The flexographic printing machine market is set to be worth USD 2.7 billion in 2024. By 2034, the market is inclined to expand to USD 3.3 billion, covering a CAGR of 2.10% through 2034.
Growth Drivers of the Flexographic Printing Machine Market
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2024) | USD 2.7 billion |
| Anticipated Forecast Value (2034) | USD 3.3 billion |
| Estimated Growth (2024 to 2034) | 2.10% CAGR |
Apart from the market perception of the quality and speed of flexo printing machines, there are some factors that deter the growth of the market. Factors like the increasing popularity of gravure printing machines offering high-quality printing at lower cost and the growing adoption of digital printing technologies pose market growth challenges.
Fluctuations in the prices of raw materials, such as inks, plates, and other consumables, affect the profit margins of manufacturers. Also, the high cost of flexographic printing machines deters small manufacturers from investing in them. The requirement for skilled operators to operate and maintain these machines is another drawback faced. Limited printing width, lack of standardization, and disruptions in the global supply chain are among several factors leading to the market plunge.
Stack press product type has gained a significant market share due to its superior performance and low operational costs. With an expected market share of 43.30% for 2024, the stack press product type is set to continue dominating the market for the foreseeable future.
| Attributes | Details |
|---|---|
| Product Type | Stack Press |
| Market Share (2024) | 43.40% |
Stack press machines are ideal for printing on various substrates, like plastic films, paper, and corrugated boards. They are also capable of printing multiple colors in a single pass. This makes them highly efficient and cost-effective. Stack press machine is highly flexible and can be easily customized to meet customer’s needs of different applications.
Increasing demand for flexible packaging solutions in industries like food and beverages, healthcare, and consumer goods is slated to drive the market in the coming years. Manufacturers are investing heavily in the development of advanced stack press machines that offer higher efficiency and enhanced sustainability features.
Rising demand for sustainable packaging solutions is augmenting the growth of the flexographic printing machine market. With increasing awareness about environmental issues, consumers are looking for eco-friendly alternatives to traditional packaging materials. This, in turn, is driving the packaging use of the machines, with an anticipated share of 37.90% for 2024.
| Attributes | Details |
|---|---|
| End Use | Packaging |
| Market Share (2024) | 37.90% |
Flexographic printing machine offers a range of sustainable printing solutions, including water-based inks, UV-curated inks, and solvent-free laminates. This makes them a preferred choice for manufacturers looking to reduce their environmental footprints. Thus, demand for these machines in the packaging industry has promise.
| Countries | CAGR from 2024 to 2034 |
|---|---|
| India | 5.40% |
| China | 4.70% |
| Thailand | 4.10% |
| Spain | 2.40% |
| South Korea | 2.40% |
Continuous widening of the eCommerce market in Asia-Pacific regions, especially in India, has impacted the lucrative growth of flexographic printing machines. Manufacturers are expanding their presence in India through new alliances and collaborations.
For instance, in June 2019, Flipkart relocated a significant portion of manufacturing and sourcing for private labels to India from China and Malaysia to lower costs and comply with the government's Make in India norms. The packaging sector is enormously expanding in India with cheaper labor costs and reduced production prices of raw materials and supplies. The market is thus in line to set a CAGR of 5.40% from 2024 to 2034 in India.
Developing industrial sector in China has poised the market for growth. With a CAGR of 4.70% through 2034, China is expected to hold its position through elevated printing across numerous domains.
Technological advancement through robotics automation in the packaging segment has also influenced the market of the flexo printing machines industry in China. The trend of sustainability and maintaining low carbon footprints has played a vital role in the expansion of these printing machines.
The growing logistics industry in China is another factor attributing to the market growth. As print media is essential for communicating between manufacturers and consumers, shipping companies facilitate the rising sale of these machines in China.
With the accelerated development and proliferation of microcomputer and software technologies, automation in the printing industry is accelerating the adoption of flexo printing equipment in Thailand. Expected to establish a CAGR of 4.10% from 2024 to 2034, manufacturers are implementing advanced technologies to boost the market.
Thailand's growing food and beverages industry due to tourism has also impacted the market growth in various ways. Consumers are becoming warier of false labeling, which has raised the need for clear and trustworthy food labels. Thus, the industry’s growth in Thailand is aided.
Expansion of online shopping in Spain in sectors like healthcare, cosmetics, clothing, and overall consumer goods is predicted to boost the market growth. With a CAGR of 2.40%, Spain is anticipated to be in the running race in market trends driving innovation in flexographic printing technology.
Holding a substantial portion of the export of pharmaceuticals and packaging goods, the Spanish market is predicted to grow broad in the flexographic printing machine sector, too. Housing notable players of the automotive, medical technology, chemical, tourism, shipping, and the textile industry, the requirement of printing equipment and machines to cater to packaging needs and sales is considerable in the country. Thus, the emerging opportunities in the printing machinery industry in Spain are high.
The growing popularity of the food and cosmetic sector in South Korea has boosted the market. The South Korean sales of these machines have a steady growth with an anticipated CAGR of 2.40%.
The growing trend toward innovative, sustainable, and environmentally friendly printing and packaging solutions to convey information about the product's identity in the most reliable way makes it easier for the product to infiltrate the country’s cosmetic sector. Thus, the cosmetic sector is enlarging the scope of flexo printing machines in South Korea.
Key companies in the flexographic printing machine market are shifting to sustainable packaging and advanced technologies for the betterment of the outcomes catering to consumer’s needs. They are introducing new machines and offering automation and productivity, boosting the overall sales and growth of the market. Some companies and their recent developments are mentioned below
| Companies | Advancements |
|---|---|
| Bobst Group SA | Offering a range of flexographic printing machines, including the M5X and M6X models |
| Koenig & Bauer AG | Introducing new machines that offer higher levels of automation and productivity |
| Heidelberger Druckmaschinen AG | Introducing new machines that offer higher levels of flexibility and customization |
| Mark Andy Inc. | Expanding its presence in the label and packaging market by introducing new machines that offer higher levels of automation and productivity |
| Nilpeter A/S | Investing in digital printing technologies |
Recent Advancements
The market is set to reach USD 2.7 billion in 2024.
The flexographic printing machine market is expected to reach a value of USD 3.3 billion by 2034.
The market is in line to develop at a CAGR of 2.10 % from 2024 to 2034.
Stack press flexo machines top the market, with an expected share of 43.40% for 2024.
The market in India is expected to progress at a CAGR of 5.40% through 2034.
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Flexographic Printing Machine Market
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