Electron Beam Curable Ink Market - Forecast(2023 - 2028)

Electron Beam Curable Ink Market Overview

Electron Beam Curable Ink Market Size is estimated to reach US$1.2 billion in 2027, growing at a CAGR of 6.3% from 2022- 2027. Electron beam curable ink is a type of photo-reactive vehicle ink that dries or sets with applications of a beam of electrons. Hence the ink consists of fluids like oligomers and monomers, which when are exposed to high-energy electron beam releases free radicals that cause polymerization, which turn into a dry ink film. Such curable ink is used for curing coating in adhesives, curing traditional ink like carbon ink, and also for surface sterilization for consumer goods packages like food products packages. The high applicability and demand of electron beam curable ink by various sectors like packaging & printing, technological advancements in printing, and increase in e-commerce sales volume are acting as drivers for the electron beam curable ink market. However, stringent government regulation regarding the usage of inks in food packaging has hampered the growth of the electron beam curable ink industry. 

COVID-19 Impact

The unfavorable effects left by COVID-19 harmed the functionality of various industrial sectors like consumer goods, Food, printing, packaging and other. As there was a lockdown and other social restrictions implemented by governments across the world, so this caused a reduction in productivity of the industrial sector which led to high loss incurring and job cutting. Electron beam curable ink is applied in industrial inkjet printing, and these inkjets are used by various sectors for printing details on their products like in the food and packaging sector. So, with the reduction in the productivity of these sectors, the demand for electron beam curable ink also reduced. For instance, as per the 2021 report of the Confederation of European Paper Industries, the production of graphical grades in newsprint and commercial printing declined 19% in 2020. Also, according to the 2021 report of the European Printing Ink Association, the European market for packaging inks fell by 1% in 2020 to 530,000 tons, while the market for publication inks fell by nearly 20% to 290,000 tons. Hence with such reduction of production and demand in the printing and packaging industry will lead to a decline in demand for electron beam curable ink market

Report Coverage

The report: “Electron Beam Curable Ink Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Electron Beam Curable Ink Industry.

By Product Type – Oligomers (Epoxy Acrylic Resin, Polyester Acrylic Resin, Acrylate Urethane), Monomers.
By Application – Food Packaging (Juice Boxes, Milk Containers, Cereal Box, others), Printing (Web offset printing, Flexo offset printing, Gravure printing, others), In-Mold Labelling, Coating (Auto interior coating, Coil coating, others), Other.
By Geography – North America (USA, Canada, Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and New Zealand, Indonesia, Taiwan, Malaysia, Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America), Rest of the World (Middle East, Africa).

Key Takeaways

• The electron beam curable ink process creates less heat as it uses 95% less energy than thermal drying used in UV and LED curing ink. Hence with less energy, the EB curable ink provides a more complete cure with little to no odor. 
• Electron beam curable ink utilizes less expensive reactive materials and does not require costly initiators. Hence such benefits have made it a good alternative for UV curing ink, thereby positively impacting the demand for electron beam curable ink in the various industrial sector especially printing and packaging 
• The implementation of new and innovative electron beam curable ink like the development of Elex-one electron beam curable ink which is completely non-volatile and environment friendly, has added significant growth opportunities for the electron beam curable ink market 

Figure: Asia-Pacific Electron Beam Curable Ink Market Revenue, 2021-2027

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Electron Beam Curable Ink Market Segment – By Product Type

Oligomers held the largest share in the electron beam curable ink market in 2021, with a share of over 55%. This is owing to factors like high demand for oligomers types like epoxy acrylic resin which is commonly used for light cures in inks as it increases resistivity, hardness, chemical resistance and decreases the cost in ink curing. Hence, this type of oligomers has high application as solder resist compositions, adhesives, insulating paints, and others. As oligomers work well with work substances like paper for foil coating and overprint varnishes, hence it has high demand as packaging ink and printing ink. For instance, as per the 2020 report of the European Printing Ink Association, the sales of liquid inks and overprint varnishes majorly increased in the first quarter of 2020 in European countries like Germany, Italy, the UK in segments like the packaging for food & healthcare products as compared to last year. As oligomers such as epoxy acrylic resin are used in overprint varnishes which are used in the design & print labeling, so with the increase in sales volume of overprint varnishes in the food industry, the demand for oligomers will also increase in that sector.    

Electron Beam Curable Ink Market Segment – By Application

Printing held the largest share in the electron beam curable ink market in 2021, with a share of over 35%. This is attributable to the factor like web offset printing is a widely used printing technique as it provides much flexibility in producing ink. And as electron beam technology gives instantaneous ink fixation on a substrate, so it would provide many advantages when applied to web offset printing like the elimination of risk of ink migration, contamination of components, variety of substrates and sizes, and others. As per the 2021 report of the American Forest & Paper Association, U.S. purchases of total printing-writing papers increased six percent in May compared to the same month last year and Uncoated Free Sheet imports and exports both increased compared to April 2020, up 10 percent and 25 percent respectively.  A combination of web offset with electron beam provide much greater quality in terms of printing, so with the increase in purchases of printing paper in such areas, the demand for web offset printing technique and electron beam curable ink that is used with web offset printing will also increase in commercial printing

Electron Beam Curable Ink Segment – By Geography

Asia-pacific held the largest share in the electron beam curable ink market in 2021, with a share of over 40%. This is owing to the factors like the region being the home to some multinational ink manufacturers like DIC, Tokyo Inc, Sakata INX, and others with some having high operations in countries like China, Japan in terms of providing digital printing material like inkjet printers that are highly used with electron beam curable ink. Besides this, the region has also a high consumption rate of food items. Hence as an electron beam, curable ink is applied in industrial inkjet printing which is used for labeling details on packaged products. So, with the increase in production of food items in the food sector, the demand for industrial inkjet printing for detail labeling in the food sector will rise thereby increasing the demand for electron beam curable ink in that sector. As per the October 2021 report of the Asia Pacific Economic Council (APEC), there has been a rise in demand for healthy beverage drinks in Asian countries like Malaysia, Singapore since people there have started adopting a healthier lifestyle. As per the October 2021 report of the Thai Ministry of Industry, the food production in the Thai food industry has increased by 2.9% compared to last year. As electron beam, curable ink is less expensive and is less toxic than UV curing ink, so the electron beam curable market will have good growth opportunities in the Asia-Pacific region in terms of product labelling.

Electron Beam Curable Ink Market Drivers

Technological Advancements in Printing

Digital printing has become a major factor for driving technological change in printing, with new technologies being introduced like Thermal inkjet technology, Drop on Demand inkjet technology, and others. These technologies have high usage for detail printing in food and pharmaceuticals packages, printing on cardboard and plastic items. Hence the high applicability of such new inkjet technologies will increase the efficiency in digital printing and the demand for electron beam curable ink used in such hybrid inkjet techniques. For instance, in 2021 Drop on Demand inkjet technology emerged as the fastest growing inkjet printing type and it has high industrial applications like printing on cardboard, plastics, concrete, and packaging products, and others. With the introduction of such a new digital printing technique, the demand for electron beams curable ink which is used in inkjet printing will also increase.

Increased E-commerce sales

In today's world, big brands tend to segment their products based on printed packaging, and as per the current trends prevailing in the packaging industry. The lockdown imposed during COVID increased the number of online buyers, especially for food, beverage, and pharmaceuticals products. Hence such a rise in online shopping volume led to an increase in packaging for the online ordered items which ultimately increased usage of digital printing like inkjet industrial printing for labeling product details on packaged items. For instance, as per the 2020 report of the U.S Department of Commerce, the e-commerce sales in 2020 grew by 30% compared to 2019 and as per U.S Census Bureau 2020 report, the food and beverage e-commerce sales increased up by 11.7% in the fourth quarter of 2020. Hence with such an increase in e-commerce sales, the demand for inkjet industrial printing used for labeling details on the packed products will also increase, thereby having a positive impact on demand for electron beam curable ink, as it is mainly used in inject industrial printing.

Electron Beam Curable Ink Market Challenges

Stringent Government Regulation

Electron beam curable ink is used in food packaging for product labeling on food products. As this ink type is used as printing ink in food product labeling, so there are certain regulations laid down by government organizations to prevent the mix-up of such ink with food direct contact materials. Hence such regulations have negatively impacted the demand for electron beam curable ink, as to be used as printing ink in food product labeling, electron beam curable ink should be certified as per regulations. For instance, in 2019 the Switzerland government introduced revised annexure 10 of Section 12 of the Swiss Consumer Goods Ordinance that set out provisions specifically for food contact material inks. Such regulation will hamper the demand for electron beam curable ink in the Swiss food industry if the electron beam curable ink and its equipment fall short following the said provisions for food contact material inks.

Electron Beam Curable Ink Industry Outlook

The companies to develop a strong regional presence and strengthen their market position, continuously engage in mergers and acquisitions. Some of the major players in this market are as follows:

1. Kao Corporation
2. Sun Chemical Corporation
3. DIC Corporation
4. Tokyo Printing Ink
5. Flint Group
6. INX International Ink co
7. Huber Group
8. Siegwerk Druckfarben
9. Zeller Gmelin
10. T&C Toka Co. Ltd  

Recent Developments

• In July 2021, Flint Group launched its ONE CODE solvent-based ink and coating range in Europe. Hence with the launch of such a product, the company will be able to bring ultimate print flexibility and efficiency in flexible packaging. 

Relevant Reports

Flexographic Ink Market - Forecast (2021 - 2026)
Report Code: CMR 0385

UV Cured Printing Inks Market – Forecast (2021 – 2026)
Report Code: CMR 90632

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