UV Cured Printing Inks Market - Forecast(2023 - 2028)

UV Cured Printing Inks Market size is forecast to reach $7.94 billion by 2025, after growing at a CAGR of 15.57% during 2020-2025. UV cured printing inks is the special kind of ink which consist of characteristics of quickly drying through the process of chemical photosynthesis. The UV-curable inks vehicle consists of four components that is monomers, oligomers, pigments, and photoinitiators. The UV rays cured printing inks contains better physical properties which obtained by consuming less time, energy use, reduction waste and low population due to which they are widely used in various end use industries like packaging and others which is driving the UV Cured Printing Inks market.

 

LED curing segment held a significant share in the UV cured printing inks market in 2019. UV LED embraces many of the advantages of traditional UV curing for manufacturing processes. It offers advanced capabilities like low heat, no generation of any infrared output that is translated into heat. This is extremely important on manufacturing lines where the introduction of heat changes the chemical properties of the coating or adhesive. Ultraviolet (UV) curing is a photochemical process which uses high-intensity UV light to cures or dries inks, coatings and adhesives instantly. Process stability and consistent stable output is possible with UV LED curing due to which the market is expected to grow during the forecast period. 

Flexographic printing process segment held a significant share in the UV cured printing inks market in 2019. Flexographic printing is a technique that uses a flexible printing plate. Earlier, these printing plates were made of rubber, and nowadays businesses use flexible photopolymer printing plates.  It has high speed production, and uses rolls of substrates, which allows large orders to be printed without interruptions. Flexo not only accommodates a wide variety of substrates, but it also allows the use of various types of inks. Water based ink, solvent based ink or U.V curable ink can be used depending on the type of substrate being used. 

Packaging held a largest share in the composites market in 2019 and is expected to grow at a CAGR of 15.91% during the forecast period. The usage of UV cured printing inks gives an overall better dot and print effect, resulting in a high-quality finish. They are also available in a wide range of finishes that can be used in gloss finishes, surface protection, and many other print processes where UV can immediately cure. As they are able to fully dry during the print process, helping the product to proceed quickly for the next step of production has also made UC cured printing inks a preferable choice among manufacturers.

Asia-Pacific dominated the UV cured printing inks market with a share of more than 42%, followed by North America and Europe.  Increased spending by consumers on packaged goods, especially in food and beverage, is the one of the major factors driving the UV cured printing inks market growth. The growth in the packaging industry is expected to majorly drive the printing ink market in India. According to the Indian Federation of Indian Chambers of Commerce and Industry (FICCI) and Tata Strategic Management Group (TSMG), the packaging industry in India is expected to rise from USD 46 billion, in 2016, to reach USD 73 billion, by 2020.

Fast-growing packaged food and beverage industries have led to the increasing use of UV inks for label printing. UV LED inks are an emerging technology, which is gradually replacing UV inks across different verticals. Currently, UV curable inks have emerged as an ideal alternative to solvent and water-based ink technologies owing to its suitability over a variety of substrates. UV cured printing inks is expected to continue its popularity in the industrial sectors owing to the constant technological advancements. UV LED inks are expected to gradually replace the conventional UV inks owing to the improved energy efficiency and longer shelf life of LED lamps.

Availability of substitutes such as water-based inks, electron beam inkjet inks, etc. is expected to hinder the expansion of the UV cured printing inks market. Much progress has been made in the last few years for the application of electron beam curing in sheet-fed processes and also broadening the ink technology so that it can be used effectively on gravure and flexo presses. As such, a slight shift in trend has been observed toward the application of EB cured printing inks from UV cure printing inks.

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the UV cured printing inks market. In 2019, the market of UV cured printing inks has been consolidated by the top five players accounting for xx% of the share. Major players in the UV cured printing inks market are Flint Group, T&K TOKA Corporation. Ltd, DIC Corporation, Avery Dennison Corporation and Fujifilm Corporation, among others.