According to the new PRIMIR study, packaging comprises nearly 92% of the global flexographic volume; the remaining volume is in non-package printing applications such as security printing, pharmaceutical products and commercially printed electronics. In the next several years flexo will enjoy a 4-5% growth rate—largely coming from growth in the developing regions, more specifically the BRIC countries.
LPC reports in the study that flexography accounts for nearly 60%, or just more than $260 billion, of the $440 billion printed packaging market. In 2009, flexo’s market share for packaging applications included: $125 billion for corrugated, $81 billion for flexible packaging, $56 billion for labels and tags, and $1.2 billion for folding carton.
It is also interesting to note that print buyers expect in the next five years they will be sourcing their flexo printed products from regions of the world separate from the one in which they are located. In fact, 70% anticipate sourcing these materials from Asia, while 60% will be sourcing from Latin America. On a global scale flexo dominates the flexible packaging sector with over 64% of the market share.