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Global UV Curable Ink Market Report to 2031

Rising Demand for UV Curable Ink from Developing Countries, Such as India and China is Expected to Boost Growth

Dublin, Oct. 10, 2022 (GLOBE NEWSWIRE) -- The "UV Curable Ink Market By Product Type, By End Use: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.

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.

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 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.

Some of the key players operating in the global UV curable inks market is 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.

Key Benefits For Stakeholders

· The 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.