UV Curable Inks Market: Inked for Success - Growth and Statistics 2024

The UV curable inks market size has grown strongly in recent years. It will grow from $1.55 billion in 2023 to $1.65 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to environmental regulations, continuous advancements in UV curing technology, increased demand for high-quality printing, cost savings, productivity improvements, and a shift towards sustainable practices.

The UV curable inks market size is expected to see strong growth in the next few years. It will grow to $2.12 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growth in the packaging industry, market expansion in emerging economies, regulatory initiatives promoting environmentally friendly inks, the expansion of end-use applications, and increasing demand for high-quality, high-speed printing. Major trends in the forecast period include advancements in printing technologies, a focus on sustainability, expansion in 3D printing applications, the development of advanced UV-curable ink formulations, and a growing focus on bio-based and low-VOC UV inks.

Market Overview -
UV curable inks refer to a type of ink used in printing processes that cures or dries quickly when exposed to ultraviolet (UV) light. These inks offer fast drying times, vibrant colors, and enhanced durability on a wide range of substrates. They are commonly used in various printing applications, including wide-format printing, packaging, labeling, and signage.

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Growing E-Commerce Penetration Fuels Growth In The UV Curable Ink Market
Growing penetration of e-commerce is expected to propel the growth of the UV curable inks market going forward. E-commerce refers to the online business model facilitating the exchange of goods and services through the Internet. The growing penetration of e-commerce is driven by convenience, expanding internet access, and shifting consumer preferences towards online shopping. UV-curable ink is widely used for printing labels, barcodes, and product identifiers on e-commerce packaging. E-commerce also facilitates the distribution of UV curable ink for custom-printed apparel in the fashion industry, enabling seamless customization and rapid production. For instance, in February 2024, according to the United States Census Bureau, a US-based government agency, in 2023, e-commerce sales were projected to reach $1,118.7 billion, marking a 7.6% (±1.2%) increase from 2022, while total retail sales saw a 2.1% (±0.4%) rise over the same period. In 2023, e-commerce sales constituted 15.4% of total sales, compared to 14.7% in 2022. Therefore, the growing penetration of e-commerce is driving the growth of the UV curable inks market.

Competitive Landscape -
Major companies operating in the uv curable inks market are Hewlett And Packard Company, Heraeus Noblelight, Fujifilm Corporation, Kao Collins Corporation, Sun Chemical Corporation, Toyo Ink SC Holdings Co. Ltd., INX Digital International Co., Siegwerk Druckfarben AG And Co. KGaA, Armstrong World Industries Inc., Agfa-Gevaert Group, Mimaki Engineering Co. Ltd., T And K Toka Co. Ltd., SPGPrints B.V., Flint Group, Roland DGA Corporation, APV Engineered Coatings, Gans Ink And Supply Co., Marabu GmbH And Co. KG, Nutec Digital Ink Pvt. Ltd., Polymeric Imaging Inc., RUCO Druckfarben, Pulse Roll Label Products Ltd., Eastern Marking Machine Corp., Paul Leibinger GmbH And Co. KG, Bordeaux Digital Printink Ltd.

Technological Advancements Driving Innovation In The UV-Curable Inks Market
Major companies operating in the UV curable inks market are focused on developing advanced technological solutions, such as UV LED technology in UV-curable inks, to enhance print quality, increase production efficiency, and minimize environmental impact. Advanced technology drives continuous innovation and improvement in UV-curable inks, enabling printers, manufacturers, and end-users to achieve higher performance, efficiency, and sustainability in their printing applications. For instance, in February 2021, Flint Group, a Luxembourg-based company that manufactures print media and consumables, launched the EkoCure Ancora Dual Cure, a UV-curable ink designed specifically for food, pharmaceutical, and cosmetic labels, as well as flexible packaging applications compliant with indirect food contact regulations. This innovative ink offers advanced technology that is compatible with both UV LED and mercury lamp curing systems, leading to improvements in sustainability and efficiency.

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Key Segments -

The uv curable inks market covered in this report is segmented -
1) By Type: Offset Printing UV Curable Inks, Silkscreen Printing UV Curable Inks, Flexo Printing UV Curable Inks, Gravure UV Curable Inks, Digital Printing UV Curable Inks
2) By Product: Cationic, Free Radical
3) By End-User Industry: Automobile, Consumer Goods, Packaging, Electronics, Medical, Publications And Printing, Other End-User Industries

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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