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.
According to the report, the publication and printing industries will continue to be the leading consumers of UV inks in the future. However, the printing industry will witness a decline in the demand for UV inks because of the growing use of electronic content. The publication and printing industries will constitute nearly one-third of the total market revenue by 2020. The consumer goods industry will grow at the fastest CAGR during the forecast period. The free-radical UV inks segment has contributed to about a 90-percent share of the total world UV curing inks market in 2014, owing to its superior adhesion, faster curing and improved durability properties.
The Asia-Pacific region is forecast to dominate the market throughout the analysis period, reaching nearly two-fifths of the total market share by 2020. The increasing demand of UV inks for personal care products, medicines, foods and drinks will drive sales in this region. North America and Europe are also expected to grow at significant CAGR during the forecast period. UV LED inks have been gradually gaining importance in these regions due to their superior benefits over UV inks, which are cured through mercury lamps.
To view the report, click here.
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