DUBLIN--(BUSINESS WIRE)--The "North American Flexographic Printing Market-Growth, Trends, COVID-19 Impact and Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's products.
During the forecast period from 2021 to 2026, the compound annual growth rate of the North American flexographic printing market is 5%.
The flexographic printing market is developing rapidly. Consumers, retailers, and customers demand more color and design changes in product packaging and labels, while reducing the run length at an economical price. Driven by technological progress, flexographic printing is expected to gain the largest share of corrugated packaging, resulting in higher quality graphics.
With the rapid development and popularization of microcomputer and software technology, the automation of the printing industry is driving its adoption to minimize human intervention to achieve lean operating procedures that require less energy, less materials, and reduce labor waste.
In addition, advances in printing preparation and plate making (one of the processes in flexographic printing) have resulted in faster turnaround times, which are driving automation in the industrial printing field. Most equipment manufacturers hope to provide operators with an almost completely harmonious solution, from document preparation to completion, to provide a seamless experience.
In addition, the advanced version of letterpress printing can be printed on a variety of materials, such as film, foil, paper, corrugated cardboard, cardboard, non-woven fabrics, and different types of laminates at speeds of 500 to 2000 feet per minute. The industry also has a high demand for advanced machines to reduce the time and expertise required for pre-press, plate making and plate changes to improve the recyclability of printed labels and packaging while minimizing waste and setting errors.
For example, Legacy Flexo Corporation purchased a second Fusion C flexographic printing press manufactured by Paper Converting Machine Company (PCMC) in January 2020. Fusion C has a smaller footprint, fewer parts, and has many quick preparation and waste-saving features, including innovative SteadyPrint technology. It is the only product on the market that uses this technology to eliminate interference and provide real-time monitoring.
Offset printing will have a negative impact on the sales of new flexographic printing presses; however, the increasing popularity of automated flexographic printing presses and increasing replacement rates are expected to have a positive impact on market growth.
Flexible packaging is expected to achieve significant growth
Changing consumer lifestyles and increasing demand for snack products are driving demand for packaged foods that provide end consumers with longer shelf life and sterile food, and provide convenience for end consumers. Foods purchased through retail stores need to be packaged in beautiful, convenient and lightweight boxes to minimize the effort required by consumers to carry them and maintain freshness.
The North American food and cosmetics industry is increasingly inclined to adopt innovative, sustainable and environmentally friendly printing and packaging solutions to convey information about product identity in the most reliable way. Consumers now have more knowledge and awareness of products, which has created a greater demand for the development of clear and credible food labels. It has forced many manufacturers to adopt advanced technology and is expected to boost the market.
The pharmaceutical industry has also adopted flexible packaging solutions because it provides protection for medicines and various packaging materials (such as plastic film, paper and foil) to cater for various sensitive drugs. In addition, with the rise of modern packaging technology in the pharmaceutical industry, brands use the power of unique packaging design to stand out from the competition.
The North American flexographic printing market is highly competitive. It is dominated by major players such as Barry-Wehmiller, Mark Andy, MPS Systems North America Inc., Flint Group and Uteco North America. These major players with a prominent share in the market are focusing on expanding their customer base abroad.
These companies are using strategic partnership programs to increase their market share and increase their profitability. However, with technological progress and product innovation, small and medium-sized companies are expanding their market share by obtaining new contracts and opening up new markets.
4.2.1 Develop advanced equipment with shorter turnaround time and higher precision
4.2.2 Rapid growth of consumer goods
4.3.1 Offset printing will hinder the development of flexographic printing
4.4 Value chain/supply chain analysis
4.6 Assessment of the impact of COVID-19 on the industry
6.1.3 MPS Systems North America Inc.
7 Market opportunities and future trends
For more information about this report, please visit https://www.researchandmarkets.com/r/una6af
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com
Call 1-917-300-0470 during EST office hours toll-free number 1-800-526-8630 GMT during office hours in the United States/Canada +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com
Call 1-917-300-0470 during EST office hours toll-free number 1-800-526-8630 GMT during office hours in the United States/Canada +353-1-416-8900