Portland, OR, July 11, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global UV curable ink market accrued $1.1 billion in 2021, and is predicted to garner $4.5 billion by 2031, registering a CAGR of 14.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.
Surge in demand for UV curable inks in plethora of printing applications due to its superior features such as reduced drying time, high bonding qualities, low viscosity, and low volatile organic compound contents drives the global UV curable ink market growth. Rise in demand for ultraviolet inks in 3D printing for automotive, consumer goods, and medical applications enhance the usage of UV curable inks. Moreover, technological breakthroughs in printing resulted in decline in bubble formation, fading risk, and delamination, thereby creating new growth opportunities for the market. Contrarily, fluctuating raw material costs will obstruct the market growth.
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COVID-19 Scenario
- The COVID-19 pandemic caused a ban on exports and imports of raw materials, thereby disrupting the supply chain and impeding the growth of the global UV curable ink market.
- Huge fluctuations in price of raw materials during the COVID-19 hindered the market expansion.
- During the COVID-19 pandemic, the demand for the UV curable inks in consumer goods, automotive, and publication and printing sectors witnessed a huge decline due to lockdown.
The report offers detailed segmentation of the global UV curable ink market based on the product type, end use, and region.
Based on the product type, the free radical segment accounted for the largest share of the market in 2021, contributing to nearly four-fifths of the overall share of the global UV curable ink market. However, the cationic segment is predicted to record the highest CAGR of 17.5% from 2022 to 2031.
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Based on end use, the publications and printing segment accounted for the largest share of the market in 2021, contributing to more than two-fifths of the overall share of the global UV curable ink market. However, the consumer goods segment is predicted to record the highest CAGR of 17.0% from 2022 to 2031.
Based on the region, the Europe contributed toward the highest market share in 2021, accounting for nearly two-fifths of the overall share of the global UV curable ink market. However, the Asia-Pacific UV curable inks market is set to register the fastest CAGR of 15.1% from 2022 to 2031.
Key players profiled in the global UV curable inks market research report are Eastern Marking Machine Corporation, Hewlett-Packard Company, Flint Group, T&K Toka Corporation, Leibinger Group, Toyo Ink SC Holdings Co., Ltd., RUCO Druckfarben, APV Engineered Coatings, Gans Ink & Supply Co., and 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.
