The flexo print market is set to grow to be worth $188.9 billion by 2027 according to a new report from Smithers.
The forecast, contained in The Future of Flexographic Printing to 2027, predicts that a compound annual growth rate (CAGR) of 1.9% will increase demand to that amount over the next five years, assuming constant prices.
In the shorter term this means that the market will be valued at $172.2 billion in 2022, with a total of 6.80 trillion A4 print equivalents produced.
The report predicts that, as the market evolves, flexo will benefit from continuing growth in demand for packaging print and labels as an increasingly cost-competitive alternative to gravure and offset litho in these applications. However, it does have to face up to the possibility of losing some market share to higher throughput inkjet presses, particularly in narrow web and corrugated segments.
When it comes to corrugated, The Future of Flexographic Printing to 2027 predicts that it will remain the largest segment of the flexo print market – with a 36.8% share by volume in 2022. However flexible packaging is becoming increasingly significant, and will be the fastest growing of the nine major applications that were tracked in Smithers’ analysis.
In terms of geography, the report suggests that Western European markets are essentially mature, but that there is new demand for flexo equipment emerging in the Americas. Demand is also accelerating across much of Asia. However Smithers still maintains that the Americas will provide the best new sales opportunities for flexo press manufacturers through to 2027.
Other important trends highlighted in the report include demand for shorter print runs and variable data stimulating the development of hybrid configurations and the market having to adapt to rising raw material prices, which are affecting the cost of inks, other consumables, and printing plates.
