15.7% CAGR witnessed for UV Curable Inks Market during 2014 to 2020
Global UV Curable Inks Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $3.5 billion by 2020, registering a CAGR of 15.7% during the period 2015-2020. Fast-growing packaged F&B industries have led to the increasing use of UV inks for label printing. UV LED inks is an emerging technology, which is gradually replacing UV inks across different verticals. The Asia-Pacific market is expected to witness an upsurge owing to the increasing adoption in labeling of drugs and consumer goods.
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The printing industries have been facing the issues of Volatile Organic Compound (VOC) emissions in the recent years. Stringent environmental regulations pertaining to volatile organic compound (VOC) emissions and remarkable curing properties of UV curable inks would increase their adoption in the publication sector. Moreover, sluggish curing properties and low resolution images associated with conventional inks have boosted the demand for instantly curable, high quality and eco-friendly UV inks. In the current scenario, UV curable inks have emerged as an ideal alternative to solvent and water-based ink technologies owing to its suitability over a variety of substrates. UV ink is expected to continue its popularity in the industrial sectors owing to the constant technological advancements. UV LED inks is expected to gradually replace the conventional UV inks owing to the longer shelf life and improved energy efficiency of LED lamps.
The publications and printing industry would continue to be the leading consumers of UV inks in future. However, the printing industry would witness a decline in the demand for UV inks owing to growing usage of electronic content. Publication and printing industry would constitute nearly one-third of the total market revenue by 2020; whereas, the consumer goods industry would grow at the fastest CAGR during the forecast period. Free radical UV inks segment has contributed to about 90% share of the total global UV curing inks market in 2014 owing to its superior adhesion, faster curing and improved durability properties.
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UV CURABLE INKS MARKET SEGMENT
The market for global UV curable inks is segmented as:
- Free radical
By Industry Vertical
- Consumer goods
- Publications and printing
- North America
Key findings of UV Curable Inks Market:
- The UV curable inks segment would exhibit a significant growth due to stringent environmental regulations on VOC emissions and instant curing property of these inks
- Free radical UV ink segment is forecast to dominate the UV ink market owing to its faster curing properties
- Publications and printing industries would continue to maintain its leading position in the market during the forecast period (2015 – 2020)
- The Asia-Pacific region would maintain its leading position during the forecast period, with nearly two-fifth share of the overall market by 2020
- Industry players have been focusing on delivering technologically advanced solutions and improving the suitability of these products for a variety of substrates
The prominent players offering UV curable inks across the globe include Flint Group, Toyo Ink Holdings SC Co., Ltd. and RUCO Druckfarben among others. The market participants are focusing on the technological advancement in both fields, viz., inks and lamps that work in combination with the inks for curing process. These players offer customized solutions to increase their market presence and improve their customer base. For instance, RUCO Druckfarben, a leading manufacturer of UV ink products, has launched a new series of UV inks for printing applications on glass surfaces.
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