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2022
Uv Curable Ink Market

UV Curable Ink Market

by Product Type (Free radical, Cationic), by End Use (Automobile, Consumer goods, Medical, Publications and printing, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

✷  Report Code: A00484
Pages: 200
May 2022 | 13887 Views
Author(s) : Devashree Ravindra Patwardhan , Yerukola Eswara Prasad
Tables: 118
Charts: 62
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UV Curable Ink Market Research, 2031

The global UV curable ink market was valued at $1.1 billion in 2021, and is projected to reach $4.5 billion by 2031, growing at a CAGR of 14.68% from 2022 to 2031.

The global COVID-19 pandemic delayed the import & export of UV curable inks due to varied economic and legal limitations across the globe. As a result, the UV curable inks market impacted moderately in 2020. However, by the start of 2021, all the industries resumed their operation due to which the demand for UV curable inks improved in the consumer goods, automobile, and publication & printing industries.

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The uv curable ink market is segmented into Product Type and End Use.

UV curing ink is specially formulated ink that stays liquid until it is exposed to strong ultra-violet light for curing. The UV light cross-links with the constituents in the ink and gets converted into a strong polymer. This reaction is very instant. UV curable ink does not depend on absorption into substrates for drying as it does not contain solvents.

Increase in demand for UV curable ink in several printing applications, owing to superior characteristics, such as low volatile organic compound content, reduced drying time, and high bonding qualities are anticipated to propel the market growth. Technological advancements in the field have decreased the risk of fading, bubble formations, and de-lamination which are expected to drive the growth of the market. The UV curable ink possesses low viscosity, therefore, decreases wastage by lower penetration into the printing materials. In addition, due to low viscosity, these may also be utilized for application on rigid surfaces, hence increasing the demand for UV curing ink.

The UV curable ink market is likely to witness noteworthy growth, owing  to its bio-compatible properties. Low pollutant emission, low energy usage essential for product manufacturing, and waste reduction are anticipated to have a positive impact on market growth. Furthermore, surge in productivity and increase in printing throughput offered by UV curable inks are anticipated to drive the growth of UV curable inks market during the forecast period. However,  volatile raw material prices hinder the UV curable inks market growth during the forecast period. Moreover, increase in demand for ultraviolet inks in 3D printing for consumer goods, medical, and automotive applications is anticipated to drive the market growth during the forecast period.

The UV curable inks market is segmented on the basis of product type, end use, and region. By product type, it is classified into free radical and cationic. According to end use, it is segmented into the automobile, consumer goods, medical, publication & printing, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the global UV curable inks market include Hewlett-Packard Company, Leibinger Group, RUCO Druckfarben, APV Engineered Coatings, Eastern Marking Machine Corporation, Flint Group, Toyo Ink SC Holdings Co., Ltd., Gans Ink & Supply Co., T&K Toka Corporation, and Nutec Digital Ink Pvt. Ltd.

UV Curable Ink Market
By Product Type

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Free radical is projected as the most lucrative segment.

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By product type, the free radical inks segment dominated the UV curable inks market in terms of volume and value in 2021 and is expected to continue its dominance during the forecast period. Free radical inks obtained through polymerization process need less time and produce low temperature that do not hamper the curing process. Moreover, the process involves less energy compared to its counterparts, which offers a competitive advantage for the free radical inks during the forecast period.

UV Curable Ink Market
By End Use

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Publication & Printing is projected as the most lucrative segment.

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By end use, the publication & printing segment accounted for the largest share of revenue in 2021 and is expected to continue its dominance during the forecast period, owing to high demand for unique and individualized consumer goods, with attractive colors that are fostered by the UV curable inks.

UV Curable Ink Market
By Region

2031
Europe 
North America
Asia-pacific
Lamea

Asia Pacific is projected as the most lucrative segment.

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Region-wise, Europe is a significant contributor to the global demand for UV curable inks. Europe is expected to show lucrative growth during the forecast period, owing to increase in demand for environment-friendly inks in various end-use industries. In North America, the demand for UV curable ink is rising rapidly, owing to the presence of various electronics manufacturers, including Texas Instruments, Avago, Micron, and Intel. These electronics manufacturers are engaged in producing analog and digital semiconductor technologies which are anticipated to boost the demand for UV curable inks during the forecast period. Asia Pacific is expected to be the fastest growing region over the forecast period owing to the rising popularity of the 3D printing.

COVID-19 Impact on Market

  • COVID-19 pandemic caused ban on imports and export, thereby disrupting the supply chain and hampering the UV curable inks market growth.
  • Fluctuation in prices of UV curable inks during COVID-19 was a major hindrance to the market.
  • During COVID-19, the demand for UV curable inks decreased from the automobile, consumer goods, and publication & printing. These industries were closed due to lockdown, owing to which demand for UV curable inks materials was impacted negatively in 2020, owing to the lockdown.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the uv curable ink market analysis from 2021 to 2031 to identify the prevailing uv curable ink market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the uv curable ink market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global uv curable ink market trends, key players, market segments, application areas, and market growth strategies.

UV Curable Ink Market Report Highlights

Aspects Details
By Product Type
  • Free radical
  • Cationic
By End Use
  • Automobile
  • Consumer goods
  • Medical
  • Publications and printing
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, U.K., 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 Hewlett-Packard Company, Leibinger Group, RUCO Druckfarben, APV Engineered Coatings, Eastern Marking Machine Corporation, Flint Group, Toyo Ink SC Holdings Co., Ltd, Gans Ink & Supply Co., T&K Toka Corporation, Nutec Digital Ink Pvt. Ltd.
 

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According to the CXO of the leading companies, rise in demand for UV curable inks from consumer goods and the medical sector to improve energy efficiency, increase in 3D printing popularity across the globe, and surge in adoption of eco-friendly curable technology are the key factors driving the growth of UV curable inks market. The adoption of UV curable ink is expected to rise across various sectors such as automobiles, consumer goods, publications, and others, owing to rise in environmental awareness,. UV curable ink does not emit volatile organic compounds(VOCs) which is a dangerous element, unlike conventional printing technologies. Thus, UV curable ink is an eco-friendly curable technology due to which its adoption is rising globally as the environmental awareness is growing among the population across the globe. The demand for the UV curable ink is rising rapidly in the Asia-Pacific owing to surge in demand for unique and environment-friendly inks in the medicine, consumer goods, and automobile industries.

 

 

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FREQUENTLY ASKED QUESTIONS?

A. The market value of UV curable ink is expected to be $4.5 billion in 2031.

A. Increase in need for digital painting, surge in growth of printing industry for improving efficiency with low consumption cost, and growth in packaging industries fuel the growth of the UV cure inks market during the forecast period.

A. Growth in medical sector in developed & developing economies, owing to rise in consumer health awareness and increase in geriatric population boost the UV curable inks demand in medical application.

A. 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.

A. Some of the key players operating in the global UV curable inks market are Hewlett-Packard Company, Leibinger Group, RUCO Druckfarben, APV Engineered Coatings, Eastern Marking Machine Corporation, Flint Group, Toyo Ink SC Holdings Co., Ltd., Gans Ink & Supply Co., T&K Toka Corporation, and Nutec Digital Ink Pvt. Ltd.

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