UV Curable Ink Market By Type (Offset Ink, Flexo Ink, Screen Printing, Digital Printing, Inkjet, Others), By End Use (Automobile, Consumer goods, Medical, Publications and printing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global UV curable ink market was valued at $4.5 billion in 2021, and is projected to reach $12.4 billion by 2031, growing at a CAGR of 10.8% from 2022 to 2031.
UV curable inks are processed through a photochemical process in presence of ultraviolet light, which leads to the drying of the ink. These inks have witnessed prevalent acceptance over traditional inks, owing to several advantages, such as surge in superior bonding, rise in superior solvent resistance properties, reduction in rejection rates, and increase in production output. UV inks have witnessed an increase in their adoption, due to increase in awareness and surge in concentration on improving the safety of packaged foods and change in environmental regulations. The UV curable inks have been extensively used in the packaging industry, majorly in Asia-Pacific.
Unique characteristics of UV curable inks and rise in awareness among printers are projected to amplify the demand for UV curable inks across the globe. The growth in adoption of these inks because of their high-performance efficiency, especially in the 3D printing sector and low environmental impact is projected to drive the growth of the global market. Asia-Pacific market is rising substantially as the adoption rate of UV inks in the region is high. The growth in demand for UV curable ink from developing countries, such as India and China is expected to boost the UV curable ink market growth during the forecast period.
Strict regulatory frameworks by agencies namely, the Underwriter’s Laboratories and the European Printing Ink Association are likely to have a positive impact on the UV curable ink market growth. Several standards and certifications have been implemented for these inks, to offer consumer protection and decrease potential hazards. High initial cost and fluctuation in raw material prices may hinder the growth of the UV curable inks market during the forecast period. High costs refer to an array of anilox rolls that are required to adjust the print color and costly ultraviolet curing equipment. However, rapidly rise in demand for UV curing inks from end use industries, such as consumer goods, medical, publication & printing, and automobile is projected to boost the market growth during the forecast period.
The UV curable ink market is segmented on the basis of type, end-use, and region. On the basis of type, the market is categorized into offset ink, flexo Ink, screen printing, digital printing, inkjet, and others. On the basis of end-use, it is divided into automobile, consumer goods, medical, publication & printing, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
In addition, the report covers profiles of key industry participants such as Teikoku Printing Inks Mfg. Co., Ltd, Maxell, Ltd, Flint Group, Gans Ink & Supply Co, Marabu GmbH & Co. KG, Kao Collins Corporation, Spinks World, NUtec Digital Ink, RUCO Druckfarben, and Toyo Ink SC Holdings Co., Ltd. These players have adopted several strategies to propel the market of microporous material during the forecast period.
KEY BENEFITS FOR STAKEHOLDERSThe report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global UV curable inks market from 2021 to 2031 to determine the prevailing opportunities.
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume.
Profiles of leading players operating in the market are provided to understand the global competitive scenario.
The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable market growth.
COVID-19 Impact on Market
UV curable ink prices were high in the Asia-Pacific region during the OCIVD-19 scenario due to regional demand trends and tight product availability. However, the increase in awareness for eco-friendly products among citizens of both developed and developing economies is anticipated to surge the popularity of UV curable ink in various end use sectors post COVID-19.
Additionally, the overall service activities of market players have registered a steady and favorable recovery in the subsequent months with an increase in the sales of passenger cars. This is predicted to enhance the performance of the UV Curable Ink market post-COVID
Key Market SegmentsBy TypeDigital Printing
Offset Ink
Flexo Ink
Screen Printing
Inkjet
Others
By End UseAutomobile
Consumer goods
Medical
Publications and printing
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
India
South Korea
Japan
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa,
Saudi Arabia
Rest of LAMEA
Key Market Players
flint group
Toyo Ink SC Holdings Co., Ltd
RUCO Druckfarben
Maxell, Ltd
Spinks World
.Kao Collins Corporation
Teikoku Printing Inks Mfg. Co., Ltd
Nutec Digital Ink Pvt. Ltd.
Gans Ink & Supply Co.
Marabu GmbH & Co. KG
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