UV Curable Inks Market - Forecast(2024 - 2030)

Report Code: CMR 93965 Report Format: PDF + Excel

 

UV Curable Inks Market Overview

UV Curable Inks Market is forecast to reach $7.4 billion by 2030, after growing at a CAGR of 13% during 2024-2030. The changing environmental regulations, increasing demand for the safety of packaged food, and the growing digital printing market globally are the major factors responsible for enhancing the overall market demand for UV curable ink during the forecast period. ultraviolet (UV) curing process is based on a photochemical reaction in which ultraviolet light is used instead of heat to cure or dry inks. 
 
UV curable inks have become an integral component across diverse industry verticals, including automotive, publication and printing, and medical sectors, owing to their unique composition and numerous advantages. Comprising four key components—monomers, oligomers, pigments, and photoinitiators—UV curable inks undergo a transformative process during UV curing that sets them apart. In the UV curing process, liquid monomers and oligomers are blended with a small proportion of photoinitiators. This concoction is then exposed to UV energy, leading to a rapid and efficient curing process. The use of UV-curable inks has gained widespread acceptance due to several compelling benefits that cater to the evolving needs of various industries. One of the primary advantages is the substantial time savings achieved through the quick curing process enabled by UV energy exposure. Additionally, the resultant print quality is notably enhanced, meeting the high standards required in industries such as publication and printing. Another pivotal factor contributing to the popularity of UV-curable inks is the reduction in energy costs, aligning with the growing emphasis on energy efficiency in manufacturing processes. Furthermore, the environmental benefits stemming from the solvent-free technology of UV-curable inks are noteworthy. As industries strive to adopt more sustainable practices, the absence of solvents in the curing process reduces harmful emissions and contributes to a cleaner, eco-friendly production environment. As a result, the multifaceted advantages of UV curable inks, including time efficiency, superior print quality, energy cost savings, and environmental friendliness, have propelled their demand across diverse industrial domains, cementing their status as a preferred choice for innovative and sustainable solutions.

Report Coverage

The report: “UV Curable Inks Market – Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the UV Curable Inks Industry.
By Product Type: Free Radical, Cationic.
By Application: Packaging, Commercial and Publication, And Other Applications.
By End User: Automobile, Consumer Good, Medical, Chemicals, Others.
By Geography: North America, Europe, Asia-Pacific), South America, Rest of the World
 

Key Takeaways 

•Asia-Pacific dominates the UV-curable Inks market at 40% in 2023, owing to increasing demand from applications such as automotive and electric, and electronic industries. 
•The growing popularity of 3D printing technologies such as multijet printers, across various industry verticals, is likely to aid in the market growth of UV-curable Inks.
•Increasing adoption of sustainable and environment-friendly products, that offer reliable performance and high image quality at high print speed will increase the market demand for UV Curable Inks shortly.
•The high initial cost of UV inks compared to conventional printers will restrain the growth of the global UV Curable Inks market over the forecast period.
•The faster-curing properties of the free radical segment will further boost the growth of the UV Curable Inks market globally over the forecast period.
 
 
UV Curable Inks Market Segment Analysis – By Product Type
The free radical segment held the largest share in the UV Curable Inks market in 2023 and is projected to hold throughout the forecast period. The free radical type of UV curable inks offers various competitive advantages over the cationic type such as its reaction mechanism being faster than that of cationic and consuming less energy during the curing process. Hence, the adoption of free radical inks is growing from various printing applications such as offset and lithographic, which drives the growth of the UV Curable inks market.
 
UV Curable Inks Market Segment Analysis – By Application
Among various types of applications, the packaging segment is projected to witness the highest growth during the forecast period due to increasing uses of flexographic printing in the packaging industry mostly for flexible packaging. Furthermore, the growing population and increasing disposable income from emerging nations such as China and India are also contributing to the growth of this market. Additionally, rising concern over the safety of packaged food products further drives the demand for UV curable inks market during the study period. For instance, India's packaging sector, the fifth largest in its economy, experiences robust growth at a CAGR of 22% to 25%, as reported by the Packaging Industry Association of India (PIAI). It stands out as one of the country's highest growth sectors. This robust expansion highlights the increasing demand for innovative and efficient packaging solutions, driving the growth of the UV Curable Inks Market.
 
UV Curable Inks Market Segment Analysis – By Geography
Among the regions, in 2023, APAC dominated the UV Curable Ink market with a share of more than 40%, followed by North America and Europe. The growing e-commerce sector, rising demand and sales of electric vehicles (EV), and rapid expansion of the end-use market across the region are driving the growth of this market in APAC. Furthermore, the Countries in South East Asia are witnessing high growth in the automotive industries. The growth in the automotive sector will further drive the demand for the UV-curable Inks market. For instance, in 2022, global passenger car sales reached 57.5 million, reflecting a 1.9% YoY increase, with China leading as the largest market at 23.6 million units, according to OIC. As a result, APAC UV-Curable Inks market experiences robust demand driven by the rapid expansion of the electric vehicle market and substantial growth in the automotive sector, particularly in South East Asia
UV Curable Ink Market Drivers
Growing demand for 3D Printing
The continuous growth of 3D printing market globally due to its growing adoption across various industries such as automotive, packaging, electronics, and aviation is expected to boost the demand for UV Curable Inks market. For instance, in 2023 Raise3D unveils the DF2, marking a groundbreaking era in DLP 3D printing. Revealed at Formnext, the event showcased cutting-edge innovations and outlined an ambitious roadmap for future advancements, setting new standards in the industry. This development is poised to set new industry standards, further propelling the growing demand for UV-curable inks in the 3D printing market.
Stringent Regulatory Framework
Governments globally are now adopting environmental regulations which specifically address the content of ink on every product and their impact on the environment. Hence, they are promoting to use of volatile organic compounds (VOC) free and no solvent inks which are having a positive impact on the environment. For instance, according to the International Trade Administration in 2022, the EU's challenging regulatory framework for the UV Curable Ink Market requires distinguishing between necessary and optional marks, labeling, and packaging regulations. The emphasis is on those addressing safety, health, and environmental concerns, with significant variances between Member States. Furthermore, the European Printing Ink Association and the Underwriter’s Laboratories are also contributing to have a positive impact on industry growth and the environment.
 
UV Curable Ink Market Challenges 
Volatile raw material prices and it’s shortage 
There are various internal as well as external factors responsible for the fluctuation of raw material prices and their impact on the shortage of raw materials and possible supply disruptions. For instance, the trade war between the world’s two largest economies such as China and the USA results in the fluctuation of raw material prices. According to Felipe Mellado, the supply distribution occurs due to the unplanned shutdowns of UV raw material capacity in China and a tighter regulatory environment in Europe. Hence, this shortage increases the cost of remaining photoinitiators material significantly and alternative materials are also affected.
 

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the UV Curable Inks market. In 2022, the market of UV Curable Ink has been consolidated by the top five players accounting for xx% of the share. Major players in the UV Curable Inks Market are T&K Toka Corporation, Tianjin Angel Chemicals, Ricoh, Flint Group, Hewlett-Packard, Gans Ink & Supply, NUtec Digital Ink, Siegwerk, Hanghua Toka, Toyo Ink Group, among others. 
 
Recent Developments
In November 2023, Ricoh Europe introduced the RICOH Pro VC80000, a high-speed inkjet webfed platform revolutionizing print service providers' economics. Featuring advanced automation, closed-loop quality control, and seamless production floor integration, it ensures highly efficient operations and versatile application capabilities.
In February 2023, Flint Group transformed food label and packaging printing with the groundbreaking release of eco-friendly UV LED Dual Cure ink. This innovative solution marks a significant leap towards sustainability, aligning with the industry's growing commitment to environmentally responsible practices.
In June 2022, Siegwerk introduced UV-curing deinking primers for labels and sleeves, enhancing sustainability in packaging. This innovation aligns with the industry's growing focus on eco-friendly solutions.
 

1. UV Curable Inks Market - Overview
        1.1 Definitions and Scope
2. UV Curable Inks Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. UV Curable Inks Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. UV Curable Inks Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. UV Curable Inks Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. UV Curable Inks Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. UV Curable Inks Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. UV Curable Inks Market - By Product Type (Market Size -$Million / $Billion)
        8.1 Market Size and Market Share Analysis
        8.2 Application Revenue and Trend Research
        8.3 Product Segment Analysis
            8.3.1 Free Radical
                8.3.1.1 Competitive Scenario
                8.3.1.2 Key Growth Factor And Opportunity
            8.3.2 Cationic

 

9. UV Curable Inks Market - By End-user (Market Size -$Million / $Billion)

 

9.1 Automobile
9.2 Consumer Good
9.3 Medical
9.4 Publication And Printing

10. UV Curable Inks - By Application Type (Market Size -$Million / $Billion)
        10.1 Segment type Size and Market Share Analysis
        10.2 Application Revenue and Trends by type of Application
        10.3 Application Segment Analysis by Type
11. UV Curable Inks- By Geography (Market Size -$Million / $Billion)
        11.1 UV Curable Inks Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 UV Curable Inks- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 UV Curable Inks- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 UV Curable Inks - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 UV Curable Inks - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. UV Curable Inks Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. UV Curable Inks Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at a global level - Top 10 companies
            13.1.6 Best Practises for companies
14. UV Curable Inks Market - Key Company List by Country Premium

 

15. UV Curable Inks Market Company Analysis

 

        15.1 Market Share, Company Revenue, Products, M&A, Developments
        15.2 Apv Engineered Coating
        15.3 Eastern Marking Machine Corporation
        15.4 Flint Group
        15.5 Gans Ink Supply Co
        15.6 Hewlett-Packard Company
        15.7 Illinois Tool Works, Inc
        15.8 Leibinger Group
        15.9 Ruco Druckfarben
        15.10 T&k; Toka Corporation
        15.11 Toyo Ink Sc Holding Co, Ltd
        15.12 Company 11
        15.13 Company 12 & More
*Financials would be provided on a best efforts basis for private companies

16. UV Curable Inks Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. UV Curable Inks Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global World Uv Curable Ink Market By Product Type Market 2023-2030 ($M)
1.1 Free Radical Market 2023-2030 ($M) - Global Industry Research
1.1.1 Competitive Scenario Market 2023-2030 ($M)
1.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
1.2 Cationic Market 2023-2030 ($M) - Global Industry Research
2.Global World Uv Curable Ink Market By Industry Vertical Market 2023-2030 ($M)
2.1 Automobile Market 2023-2030 ($M) - Global Industry Research
2.2 Consumer Good Market 2023-2030 ($M) - Global Industry Research
2.3 Medical Market 2023-2030 ($M) - Global Industry Research
2.4 Publication And Printing Market 2023-2030 ($M) - Global Industry Research
3.Global World Uv Curable Ink Market By Product Type Market 2023-2030 (Volume/Units)
3.1 Free Radical Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Competitive Scenario Market 2023-2030 (Volume/Units)
3.1.2 Key Growth Factor And Opportunity Market 2023-2030 (Volume/Units)
3.2 Cationic Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global World Uv Curable Ink Market By Industry Vertical Market 2023-2030 (Volume/Units)
4.1 Automobile Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Consumer Good Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Medical Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Publication And Printing Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America World Uv Curable Ink Market By Product Type Market 2023-2030 ($M)
5.1 Free Radical Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Competitive Scenario Market 2023-2030 ($M)
5.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
5.2 Cationic Market 2023-2030 ($M) - Regional Industry Research
6.North America World Uv Curable Ink Market By Industry Vertical Market 2023-2030 ($M)
6.1 Automobile Market 2023-2030 ($M) - Regional Industry Research
6.2 Consumer Good Market 2023-2030 ($M) - Regional Industry Research
6.3 Medical Market 2023-2030 ($M) - Regional Industry Research
6.4 Publication And Printing Market 2023-2030 ($M) - Regional Industry Research
7.South America World Uv Curable Ink Market By Product Type Market 2023-2030 ($M)
7.1 Free Radical Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Competitive Scenario Market 2023-2030 ($M)
7.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
7.2 Cationic Market 2023-2030 ($M) - Regional Industry Research
8.South America World Uv Curable Ink Market By Industry Vertical Market 2023-2030 ($M)
8.1 Automobile Market 2023-2030 ($M) - Regional Industry Research
8.2 Consumer Good Market 2023-2030 ($M) - Regional Industry Research
8.3 Medical Market 2023-2030 ($M) - Regional Industry Research
8.4 Publication And Printing Market 2023-2030 ($M) - Regional Industry Research
9.Europe World Uv Curable Ink Market By Product Type Market 2023-2030 ($M)
9.1 Free Radical Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Competitive Scenario Market 2023-2030 ($M)
9.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
9.2 Cationic Market 2023-2030 ($M) - Regional Industry Research
10.Europe World Uv Curable Ink Market By Industry Vertical Market 2023-2030 ($M)
10.1 Automobile Market 2023-2030 ($M) - Regional Industry Research
10.2 Consumer Good Market 2023-2030 ($M) - Regional Industry Research
10.3 Medical Market 2023-2030 ($M) - Regional Industry Research
10.4 Publication And Printing Market 2023-2030 ($M) - Regional Industry Research
11.APAC World Uv Curable Ink Market By Product Type Market 2023-2030 ($M)
11.1 Free Radical Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Competitive Scenario Market 2023-2030 ($M)
11.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
11.2 Cationic Market 2023-2030 ($M) - Regional Industry Research
12.APAC World Uv Curable Ink Market By Industry Vertical Market 2023-2030 ($M)
12.1 Automobile Market 2023-2030 ($M) - Regional Industry Research
12.2 Consumer Good Market 2023-2030 ($M) - Regional Industry Research
12.3 Medical Market 2023-2030 ($M) - Regional Industry Research
12.4 Publication And Printing Market 2023-2030 ($M) - Regional Industry Research
13.MENA World Uv Curable Ink Market By Product Type Market 2023-2030 ($M)
13.1 Free Radical Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Competitive Scenario Market 2023-2030 ($M)
13.1.2 Key Growth Factor And Opportunity Market 2023-2030 ($M)
13.2 Cationic Market 2023-2030 ($M) - Regional Industry Research
14.MENA World Uv Curable Ink Market By Industry Vertical Market 2023-2030 ($M)
14.1 Automobile Market 2023-2030 ($M) - Regional Industry Research
14.2 Consumer Good Market 2023-2030 ($M) - Regional Industry Research
14.3 Medical Market 2023-2030 ($M) - Regional Industry Research
14.4 Publication And Printing Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US UV Curable Inks Market Revenue, 2023-2030 ($M)
2.Canada UV Curable Inks Market Revenue, 2023-2030 ($M)
3.Mexico UV Curable Inks Market Revenue, 2023-2030 ($M)
4.Brazil UV Curable Inks Market Revenue, 2023-2030 ($M)
5.Argentina UV Curable Inks Market Revenue, 2023-2030 ($M)
6.Peru UV Curable Inks Market Revenue, 2023-2030 ($M)
7.Colombia UV Curable Inks Market Revenue, 2023-2030 ($M)
8.Chile UV Curable Inks Market Revenue, 2023-2030 ($M)
9.Rest of South America UV Curable Inks Market Revenue, 2023-2030 ($M)
10.UK UV Curable Inks Market Revenue, 2023-2030 ($M)
11.Germany UV Curable Inks Market Revenue, 2023-2030 ($M)
12.France UV Curable Inks Market Revenue, 2023-2030 ($M)
13.Italy UV Curable Inks Market Revenue, 2023-2030 ($M)
14.Spain UV Curable Inks Market Revenue, 2023-2030 ($M)
15.Rest of Europe UV Curable Inks Market Revenue, 2023-2030 ($M)
16.China UV Curable Inks Market Revenue, 2023-2030 ($M)
17.India UV Curable Inks Market Revenue, 2023-2030 ($M)
18.Japan UV Curable Inks Market Revenue, 2023-2030 ($M)
19.South Korea UV Curable Inks Market Revenue, 2023-2030 ($M)
20.South Africa UV Curable Inks Market Revenue, 2023-2030 ($M)
21.North America UV Curable Inks By Application
22.South America UV Curable Inks By Application
23.Europe UV Curable Inks By Application
24.APAC UV Curable Inks By Application
25.MENA UV Curable Inks By Application
26.Apv Enginerred Coating, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Hewlett-Packard Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Illinois Tool Works, Inc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Leibinger Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Ruco Druckfarben, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Eastern Marking Machine Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Flint Group, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Toyo Ink Sc Holding Co , Ltd, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Gans Ink Supply Co, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Tk; Toka Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)