Global Energy Curable Inks Market 2024-2031

Global Energy Curable Inks Market 2024-2031

Energy Curable Inks Market Size, Share & Trends Analysis Report by Component (Solution, and Services), by Type (UV Flexo Inks, UV Offset Inks, UV Low Energy/LED Offset Inks (Except UV Offset Inks), UV Screen Printing Inks, and Electron Beam (EB) Inks), and by Application (Printing Industry, Packaging Industry, Automotive Industry, Electronics, Medical Devices, and Others) Forecast Period (2024-2031)

Energy curable inks market is anticipated to grow at a CAGR of 5.5% during the forecast period (2024-2031). The growing demand for sustainable printing ink, technological advancements in inkjet printing and UV curing systems, and regulatory compliance requirements are the key factors driving the global energy-curable ink market. Energy-curable inks are considered a sustainable alternative to traditional solvent-based inks owing to the lower emission of volatile organic compounds and energy-efficient curing process. Additionally, their versatility in delivering high-quality prints on various substrates contributes to market diversification. Compliance with regulations such as REACH and FDA further supports the adoption of energy-curable inks, creating opportunities for stakeholders to maintain a competitive edge in the printing industry.

Market Dynamics

Increasing demand for sustainable printing solutions

The growing environmental consciousness has led to a rise in demand for sustainable printing solutions, with ink being a preferred choice for both businesses and consumers. The ink manufacturers are taking leverage of this opportunity to maintain their competitiveness in the market by launching sustainable ink solutions. For instance, in March 2024, Fujifilm Group developed a new inkjet ink using its proprietary AQUAFUZE technology, which combines water-based and UV-curable inks. This UV-curable aqueous ink is suitable for indoor signage and wallpaper applications, offering safe, odorless ink, high rub resistance, and compatibility with various print substrates. The technology reduces ink clogging, adheres to various substrates without pre-coat primers, reduces printed image thickness, and reduces ink odor, making it a new standard in the wide format market.

Market Segmentation

Based on type, the market is segmented into UV flexo inks, UV offset inks, UV low energy/LED offset inks (except UV offset inks), UV screen printing inks, and electron beam (EB) inks.

Based on application, the market is segmented into the printing industry, packaging industry, automotive industry, electronics, medical devices, and others (consumer goods).

UV Offset Inks is Projected to Emerge as the Largest Segment

The high demand for UV-curable offset inks owing to their efficiency and environmental benefits is making a significant contribution to the high share of this market segment. In December 2020, NUtec launched the Ruby UV ink range, specifically designed for LED UV lamp curing. The premium quality, fast-curing roll-to-roll inks are ideal for flexible applications and offer enhanced scuff and chemical resistance. It additionally offers improved stretchability and low odor.

Printing Industry to Hold a Considerable Market Share

The demand for versatile ink solutions is increasing in the printing industry owing to the diversification of print requirements, and formulation. In January 2022, NUtec Digital Ink introduced its latest UV-curable ink, the Ruby R10-HYB, for Epson DX4, DX5, DX6, DX7, I3200-U1 & XP600 printheads. This hybrid ink is designed for rigid and roll-to-roll applications and is optimized for LED UV lamps. It offers superior compliance on various rigid substrates and is suitable for indoor signage, outdoor advertising, and promotional goods.

Regional Outlook

The global energy curable inks market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Growing Packaging Industry In Asia-Pacific Region

The demand for high-quality and sustainable packaging is increasing the use of energy curable inks across the region. Growth in the packaging sector is primarily driven by the growing food processing industry in India. According to worldfoodindia.gov.in, in September 2024, the Food Processing sector has played a significant role in the remarkable growth of the Indian economy over the past decade. Currently, India ranks as the 5th largest economy in the world, with a size of $3.5 trillion. In the fiscal year 2022-23, processed food accounted for 25.6% of total agricultural exports. This growth can be attributed to the favorable policy and regulatory environment, as well as attractive incentives and schemes, such as 100.0% foreign direct investment (FDI) through both the automatic route and government-approval route for Food Processing Industries and retail trading, including e-commerce.

Europe Holds Major Market Share

The growing demand for sustainable printing solutions across Europe, particularly LED inks, is driven by environmental concerns and their eco-friendly profile. To meet the growing demand, in September 2022, Xeikon introduced its PantherCure LED series, a new family of inks for Panther technology. The PantherCure LED inks offer a wider application range, improved image quality, and a broader color gamut. They also improve overall equipment efficiency, with LED curing requiring less energy for the same speed and resulting in better ink-to-substrate adhesion. This sustainable option eliminates waste from mercury bulbs.

Market Players Outlook

The major companies serving the energy curable inks market include Artience Group, DIC Corp., Flint Group, T&K Toka Co., Ltd., and Siegwerk Druckfarben AG & Co. KGaA among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, in July 2022, Marabu introduced energy-saving LED-curable screen-printing inks and a new digital varnish for customizable haptic effects. The Ultra Glass LEDGL UV-LED-curable ink system offers additional energy and CO2 emissions savings. The new Mara Shape DUV-HBV high-build varnish allows for multi-layered glass reliefs and ultrafine haptic details.