UV Curable Ink Market to Garner $4.5 Billion, Globally, By 2031 at 14.68% CAGR, Says Allied Market Research

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Jun 16, 2022, 09:20 ET

Rise in need for UV curable ink in printing application and advancements in technology drive the global UV curable ink market.

PORTLAND, Ore., June 16, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "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". As per the report, the global UV curable ink industry was accounted for $1.1 billion in 2021, and is expected to reach $4.5 billion by 2031, growing at a CAGR of 14.68% from 2022 to 2031.

Major determinants of the market growth

Rise in need for UV curable ink in printing application and advancements in technology drive the global UV curable inks market. However, volatile raw material prices hinder the market growth. On the contrary, surge in demand for UV inks in 3D printing would unlock new opportunities in the future.

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Covid-19 scenario:

The Covid-19 pandemic led to ban on import and export of non-essential items, which disrupted the supply chain and hampered the market growth.
During the pandemic, the demand for UV curable inks reduced from the end-use industries such as automobile, consumer goods, and publication & printing. Moreover, fluctuation in prices of UV curable inks hampered the market.

The free radical segment dominated the market

By product type, the free radical segment held the largest share in 2021, accounting for around four-fifths of the global UV curable ink market, as it obtained through polymerization process that needs less time and produce low temperature that do not hamper the curing process. However, the cationic segment is estimated to register the highest CAGR of 17.5% during the forecast period, due to low emission levels, non-odorous nature, and taint-free properties.

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The consumer goods segment to portray the highest CAGR through 2030

By end use, the consumer goods segment is projected to manifest the highest CAGR of 17.04% from 2022 to 2031, as it is used in various applications such as for the production of electronic circuits and devices. However, the publications and printing segment held the largest share in 2021, accounting for more than two-thirds of the global UV curable ink market, due to high demand for unique and individualized consumer goods with attractive colors that are fostered by the UV curable inks

Asia-Pacific to manifest the highest CAGR by 2030

By region, the global UV curable ink market across Asia-Pacific is anticipated to showcase the highest CAGR of 15.17% during the forecast period, due to rising popularity of the 3D printing. However, the market across Europe dominated in 2021, accounting for nearly two-fifths of the market, owing to growth in environmental awareness among the population in the region and adoption of UV curable ink in various end-use industries.

Major 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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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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