In the next five years, the global UV curing ink is expected to reach 13.01%. According to the "2022 Global UV Curing Ink Professional Survey Report and Forecast to 2027" by Yihe Consulting, the increasing popularity of 3D printing technologies such as multi nozzle printers in various vertical industries may contribute to the growth of the UV curable ink market. The compound annual growth rate (CAGR) is expected to be 13.01% from 2022 to 2027.
Analyst's viewpoint:
The market for UV cured ink has been consolidated by top manufacturers who hold a majority of the market share. Nina Patel, Senior Analyst at Yihe Consulting, stated that technology releases, acquisitions, and research and development activities should be key strategies adopted by participants in the UV cured ink market.
Market Insights:
Due to the increasing popularity of the 3D printing market in various industries such as automotive, packaging, electronics, and aviation, the sustained growth of the global 3D printing market is expected to drive demand for the UV curable ink market
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The fluctuations in raw material prices and their impact on raw material shortages and potential supply disruptions are influenced by various internal and external factors. For example, the trade war between the world's two largest economies, China and the United States, has led to fluctuations in raw material prices. Therefore, this shortage significantly increases the cost of remaining photoinitiator materials, and alternative materials are also affected. Compared to traditional printers, the high initial cost of UV ink will suppress the growth of the global UV curable ink market during the forecast period.
Segmentation of UV curable ink market:
According to the type, the UV curable ink market is divided into free radical type and cationic type. Free radicals have the largest market share. Compared with cationic inks, free radical UV curable inks have multiple competitive advantages, such as a faster reaction mechanism and less energy consumption during the curing process. Therefore, the adoption of free radical inks is growing from various printing applications such as offset printing and flat plate printing, which in turn is driving the growth of the UV curable ink market.
According to applications, the UV curable ink market is divided into: automotive, consumer goods, packaging, publications, and printing. Packaging has the largest market share. In various types of applications, due to the increasing use of flexographic printing in the packaging industry, mainly for flexible packaging, it is expected that the packaging field will achieve the highest growth during the forecast period.
UV curable ink market: regional analysis
Geographically, the global UV curable ink market has been segmented into North America, Asia Pacific, Europe, South America, the Middle East, and Africa. The growing e-commerce industry, the increasing demand and sales of electric vehicles (EVs), and the rapid expansion of the end use market in the region are driving the growth of this market in the Asia Pacific region. In addition, Southeast Asian countries are witnessing rapid growth in the automotive industry. The growth of the automotive industry will further drive the demand for UV curable ink market.
Compound annual growth rate: 13.01%
Maximum market share region: Asia Pacific region
Country with the largest share: China
Product type: free radical, cation.
Applications: automobiles, consumer goods, packaging, publications, and printing.
Leading enterprise: T&K Toka Corporation, Tianjin Angel Chemicals, Ricoh, Flint Group, Hewlett-Packard
