UV Curable Inks Market - Forecast(2023 - 2028)

Report Code: CMR 93965 Report Format: PDF + Excel
Ultraviolet (UV) curing process is based on a photochemical reaction in which ultraviolet light is used instead of heat to cure or dry inks. The UV curable inks consist of four components such as monomers, oligomers, pigments, and photoinitiators. Whereas, in the UV curing process the liquid monomers and oligomers are mixed with a small percentage of photoinitiators, and then are exposed to UV energy. The use of UV curable inks has a widespread acceptance across various industry verticals like automotive, publication and printing, and medicals due to its various benefits in the form of time savings, better print quality, reduced energy costs, and environmental benefits due to solvent free technology.

UV Curable Inks Market is forecast to reach $4 billion by 2025, after growing at a CAGR of 13% during 2020-2025. The changing environment regulations, increasing demand for the safety of packaged food, and growing digital printing market globally are the major factors responsible to enhance the overall market demand for UV Curable Ink during the forecast period. 

Key Takeaways
  • Asia-Pacific dominates the UV Curable Inks market owing to increasing demand from applications such as automotive and electric and electronic industries. 
  • The growing popularity of 3D printing technologies such as multijet printer, 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 offers reliable performance and high image quality at high print speed will increase the market demand for UV Curable Inks in the near future.
  • The high initial cost of UV inks compared to conventional printer will restrain the growth of global UV Curable Inks market over the forecast period.
  • The faster curing properties of free radical segment will further boost the growth of the UV Curable Inks market globally over the forecast period.

Type - Segment Analysis
Free radical segment held the largest share in the UV Curable Inks market in 2019 and is projected to hold throughout the forecast period. The free radical type of UV curable inks offers various competitive advantages over cationic type such as its reaction mechanism is faster than that of cationic and consume less energy during the curing process. Hence, the adoption of free radical inks are growing from various printing applications such as offset and lithographic, which in turn drives the growth of UV Curable Inks market.

Application - Segment Analysis
Among various types of applications, the packaging segment is projected to witness a highest growth during the forecast period due to increasing uses of flexographic printing in packaging industry mostly for flexible packaging. Furthermore, the growing population and increasing disposable income from the emerging nations such as China and India are also contributing for 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.

Geography - Segment Analysis
Among the regions, in 2019, 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 vehicle (EV), and rapid expansion of 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 automotive sector will further drives the demand for UV Curable Inks market. According to OICA, APAC automotive sales witnessed a growth of over 6.52% during 2012-2018, with South East Asian countries having huge potential to grow.

Drivers – UV Curable Ink Market

  • 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 29th August 2017, Mimaki Engineering Co., Ltd. (Mimaki) introduced a 3D full coloring printer by UV LED curable inkjet system that enabling the full color modeling of over 10 million colors mainly used in manufacturing, education, construction, and medical business segment.

  • Stringent Regulatory Framework
Governments globally are now adopting environment regulations which are specifically address the content of ink on every products and their impact on environment. Hence, they are promoting to use of volatile organic compounds (VOC) free and no solvent inks which are having positive impact on environment. For instance, in year 2019, China’s Ministry of Environment and Ecology (MEE) launched a program to reduce emission of VOC and their effects across key industries such as petrochemicals, packaging and printing, and transportation by 10% by the end of 2020. Furthermore, the European Printing Ink Association and the Underwriter’s Laboratories are also contributing to have a positive impact on industry growth and environment.

Challenges – UV Curable Ink Market

  • Volatile raw material price 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 material and possible supply disruptions. For instance, the trade war between the world’s two largest economies such as China and the USA that results into the fluctuation of raw material prices. Furthermore, according to the article published on 9 May 2018, by the Felipe Mellado, CMO & Board Member of Sun Chemical, regarding the global raw material shortage and its impact on UV curing inks. 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 increasing 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 2018, 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, Letong Ink, Yip's Ink, Toyo Ink Group, Kingswood Inks, among others. 

Acquisitions/Technology Launches
  • In February 2018, BASF launched a new vinyl methyl oxazolidinone (VMOX) product in the printing and coating industry. The VMOX product is suitable as a reactive diluent in UV curing inks and can be used for digital UV printing.
  • In December 2017, T & K TOKA acquired the Netherland based Royal Dutch Printing Factories Van Son B.V. With this acquisition T & K TOKA substantially expand its production, distribution, and services in Europe and the USA.  

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 2019-2024 ($M)
1.1 Free Radical Market 2019-2024 ($M) - Global Industry Research
1.1.1 Competitive Scenario Market 2019-2024 ($M)
1.1.2 Key Growth Factor And Opportunity Market 2019-2024 ($M)
1.2 Cationic Market 2019-2024 ($M) - Global Industry Research
2.Global World Uv Curable Ink Market By Industry Vertical Market 2019-2024 ($M)
2.1 Automobile Market 2019-2024 ($M) - Global Industry Research
2.2 Consumer Good Market 2019-2024 ($M) - Global Industry Research
2.3 Medical Market 2019-2024 ($M) - Global Industry Research
2.4 Publication And Printing Market 2019-2024 ($M) - Global Industry Research
3.Global World Uv Curable Ink Market By Product Type Market 2019-2024 (Volume/Units)
3.1 Free Radical Market 2019-2024 (Volume/Units) - Global Industry Research
3.1.1 Competitive Scenario Market 2019-2024 (Volume/Units)
3.1.2 Key Growth Factor And Opportunity Market 2019-2024 (Volume/Units)
3.2 Cationic Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global World Uv Curable Ink Market By Industry Vertical Market 2019-2024 (Volume/Units)
4.1 Automobile Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Consumer Good Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Medical Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Publication And Printing Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America World Uv Curable Ink Market By Product Type Market 2019-2024 ($M)
5.1 Free Radical Market 2019-2024 ($M) - Regional Industry Research
5.1.1 Competitive Scenario Market 2019-2024 ($M)
5.1.2 Key Growth Factor And Opportunity Market 2019-2024 ($M)
5.2 Cationic Market 2019-2024 ($M) - Regional Industry Research
6.North America World Uv Curable Ink Market By Industry Vertical Market 2019-2024 ($M)
6.1 Automobile Market 2019-2024 ($M) - Regional Industry Research
6.2 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
6.3 Medical Market 2019-2024 ($M) - Regional Industry Research
6.4 Publication And Printing Market 2019-2024 ($M) - Regional Industry Research
7.South America World Uv Curable Ink Market By Product Type Market 2019-2024 ($M)
7.1 Free Radical Market 2019-2024 ($M) - Regional Industry Research
7.1.1 Competitive Scenario Market 2019-2024 ($M)
7.1.2 Key Growth Factor And Opportunity Market 2019-2024 ($M)
7.2 Cationic Market 2019-2024 ($M) - Regional Industry Research
8.South America World Uv Curable Ink Market By Industry Vertical Market 2019-2024 ($M)
8.1 Automobile Market 2019-2024 ($M) - Regional Industry Research
8.2 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
8.3 Medical Market 2019-2024 ($M) - Regional Industry Research
8.4 Publication And Printing Market 2019-2024 ($M) - Regional Industry Research
9.Europe World Uv Curable Ink Market By Product Type Market 2019-2024 ($M)
9.1 Free Radical Market 2019-2024 ($M) - Regional Industry Research
9.1.1 Competitive Scenario Market 2019-2024 ($M)
9.1.2 Key Growth Factor And Opportunity Market 2019-2024 ($M)
9.2 Cationic Market 2019-2024 ($M) - Regional Industry Research
10.Europe World Uv Curable Ink Market By Industry Vertical Market 2019-2024 ($M)
10.1 Automobile Market 2019-2024 ($M) - Regional Industry Research
10.2 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
10.3 Medical Market 2019-2024 ($M) - Regional Industry Research
10.4 Publication And Printing Market 2019-2024 ($M) - Regional Industry Research
11.APAC World Uv Curable Ink Market By Product Type Market 2019-2024 ($M)
11.1 Free Radical Market 2019-2024 ($M) - Regional Industry Research
11.1.1 Competitive Scenario Market 2019-2024 ($M)
11.1.2 Key Growth Factor And Opportunity Market 2019-2024 ($M)
11.2 Cationic Market 2019-2024 ($M) - Regional Industry Research
12.APAC World Uv Curable Ink Market By Industry Vertical Market 2019-2024 ($M)
12.1 Automobile Market 2019-2024 ($M) - Regional Industry Research
12.2 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
12.3 Medical Market 2019-2024 ($M) - Regional Industry Research
12.4 Publication And Printing Market 2019-2024 ($M) - Regional Industry Research
13.MENA World Uv Curable Ink Market By Product Type Market 2019-2024 ($M)
13.1 Free Radical Market 2019-2024 ($M) - Regional Industry Research
13.1.1 Competitive Scenario Market 2019-2024 ($M)
13.1.2 Key Growth Factor And Opportunity Market 2019-2024 ($M)
13.2 Cationic Market 2019-2024 ($M) - Regional Industry Research
14.MENA World Uv Curable Ink Market By Industry Vertical Market 2019-2024 ($M)
14.1 Automobile Market 2019-2024 ($M) - Regional Industry Research
14.2 Consumer Good Market 2019-2024 ($M) - Regional Industry Research
14.3 Medical Market 2019-2024 ($M) - Regional Industry Research
14.4 Publication And Printing Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US UV Curable Inks Market Revenue, 2019-2024 ($M)
2.Canada UV Curable Inks Market Revenue, 2019-2024 ($M)
3.Mexico UV Curable Inks Market Revenue, 2019-2024 ($M)
4.Brazil UV Curable Inks Market Revenue, 2019-2024 ($M)
5.Argentina UV Curable Inks Market Revenue, 2019-2024 ($M)
6.Peru UV Curable Inks Market Revenue, 2019-2024 ($M)
7.Colombia UV Curable Inks Market Revenue, 2019-2024 ($M)
8.Chile UV Curable Inks Market Revenue, 2019-2024 ($M)
9.Rest of South America UV Curable Inks Market Revenue, 2019-2024 ($M)
10.UK UV Curable Inks Market Revenue, 2019-2024 ($M)
11.Germany UV Curable Inks Market Revenue, 2019-2024 ($M)
12.France UV Curable Inks Market Revenue, 2019-2024 ($M)
13.Italy UV Curable Inks Market Revenue, 2019-2024 ($M)
14.Spain UV Curable Inks Market Revenue, 2019-2024 ($M)
15.Rest of Europe UV Curable Inks Market Revenue, 2019-2024 ($M)
16.China UV Curable Inks Market Revenue, 2019-2024 ($M)
17.India UV Curable Inks Market Revenue, 2019-2024 ($M)
18.Japan UV Curable Inks Market Revenue, 2019-2024 ($M)
19.South Korea UV Curable Inks Market Revenue, 2019-2024 ($M)
20.South Africa UV Curable Inks Market Revenue, 2019-2024 ($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)