UV Curable Inks Market Expected to Reach $3.5 Billion by 2020
PORTLAND - A new report by Allied Market Research, titled World UV Curable Inks — Market Opportunities and Forecasts, 2014 – 2020, forecasts that the world UV curable inks market will garner a revenue of $3.5 billion by 2020, registering a CAGR of 15.7 percent during 2015–2020. Growth in the packaged F&B industries has led to increasing use of UV ink for label printing. The emerging UV LED ink technology is gradually replacing UV inks across different verticals. The Asia-Pacific market is expected to witness an upsurge owing to the increasing adoption in labelling of drugs and consumer goods.
The printing industries have been facing issues of VOC emissions in recent years. The stringent environmental regulations pertaining to VOC emissions and the remarkable curing properties of UV curable inks will increase adoption of this technology in the publication sector. Moreover, the 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 their suitability over a variety of substrates. UV inks are expected to continue their popularity in the industrial sectors due to technological advancements. UV LED inks are expected to gradually replace conventional UV inks given the longer shelf life and improved energy efficiency of LED lamps.