UV Cured Printing Inks Market : Facts, Figures and Analytical Insights Forecast 2022-2031

Shibuya-ku, Tokyo, Japan, Japan, Mar 02, 2022, 08:12 /Comserve / -- UV Cured Printing Inks Market With Top Countries Data, Industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast

The market for UV cured printing inks is forecasted to reach USD 1,600.29 million by 2026, registering a CAGR of 4.64%, during the period. Major factors driving the market studied are growing demand from the digital printing industry and rising demand from the packaging and labels sector.

- On the flip side, the decline in the conventional commercial printing industry and unfavorable conditions due to the COVID-19 outbreak are hindering the growth of the market studied.
- Development of bio-based UV-Curable inks is expected to offer various opportunities for the growth of the market studied over the forecast period.
- Europe dominated the market across the globe with majority of the consumotion coming from countries such as Germany, Italy, and others.

Click Here to Download Sample Report >>

Key Market Trends

Packaging to Dominate the Market

The packaging industry dominated the UV-cured printing inks market in 2019-2020. The usage of UV-cured inks gives an overall better dot and print effect, resulting in a high-quality finish. They are also available in a wide range of finishes that can be used in surface protection, gloss finishes, and many other print processes where UV can immediately cure. Since they can fully dry during the print process, helping the product proceed quickly for the next step of production has also made it a preferred choice among manufacturers.

Initially, UV-cured inks were not accepted by the packaging world, majorly in food packaging, as these printing inks contain colorants and pigments, binders, additives, and photoinitiators, which can transfer into the food product. However, continued innovations in the UV-cured inks sector have continued to change the scene ever since. Siegwerk, a manufacturer of printing inks for packaging applications, labels, and catalogs, was the first company in the market to offer LED UV printing inks for food and pharmaceutical packaging. As the requirements for the food and pharmaceutical industries regarding safety and efficiency are very high, Siegwerk's new ink is considered a real breakthrough.

According to a report published by PMMI, the Association for Packaging and Processing Technologies, growth in the global packaging industry is anticipated to reach USD 42.2 billion by 2021 from USD 36.8 billion in 2016. This is due to the increasing population, growing sustainability concerns, more spending power in developing regions, rising demand for smart packaging, and other factors. The packaging market is constantly evolving to cater to the changing consumer needs. The increasing disposable incomes and the growing middle-class population are among the prominent factors driving the demand for packaging across industries, such as food and beverage, consumer products, and industrial goods.​ The increasing demand for packaged food and pharmaceutical products in growing economies, such as China, India, and others, is expected to drive the growth of the market studied.

United States - The Largest Consumer of UV Cured Printing Inks

The United States is the world's largest and most powerful economy in the world. However, the economic growth of the country has been slowed in the recent past, with the GDP growth rate dropping from 3% in 2018 to 2.2% in 2019. Additionally, the GDP of the country contracted by 4.8% in the first quarter and 31.4% in the second quarter of 2020, indicating the severe impact of the COVID-19 pandemic. Overall, the country's annual GDP growth dipped to -4.3% in 2020. Therefore, the drastic outbreak of COVID-19 in the country has led to a downfall in economic growth, owing to a fall in consumer spending and business shutdowns. With the coronavirus disease spread across the country, production in various industries and nearly all aspects of the supply chain were negatively affected. However, the economy is expected to recovers by 3.1% in 2021.

The demand for packaging is significant in the United States, which is majorly driven by the increasing demand from the digital printing market and flexible packaging industry. With the improving government focus and investments in various industries, the demand for UV-cured printing ink is expected to increase substantially during the forecast period. According to Mordor Intelligence, the US packaging industry was valued at USD 189.23 billion in 2020, and it is expected to reach USD 218.36 billion by 2025. This positive momentum encourages the UV-cured printing inks market to perform strong growth during the forecast period. In the country, the flexible packaging market is driven by high demand from the food and beverage, pharmaceuticals and medicals, retail bags, and other non-food-related products industries. The changing trends in consumer behavior and manufacturer's easier convenience have benefitted the flexible packaging market to grow at a faster pace in the country, which is further benefitting the UV-cured printing ink market.

Request For The Sample Report Here:

Competitive Landscape

The global UV curable printing inks market is a consolidated market, with the top five players accounting for around 60% (in terms of revenues generated) of the global market share in 2019. Most of the market leaders are vertically integrated, i.e., they produce their own raw materials required for the manufacturing of UV curable printing inks. Furthermore, they sell equipment that is used for printing. Some of the major players include Sun Chemical (DIC Corporation), INX International Ink Co. (SAKATA INX CORPORATION), Flint Group, Siegwerk Druckfarben AG & Co. KGaA, and TOKYO PRINTING INK MFG CO. LTD, amongst others.

1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from the Digital Printing Industry
4.1.2 Rising Demand from the Packaging and Label Sector
4.2 Restraints
4.2.1 Decline in the Conventional Commercial Printing Industry
4.2.2 Unfavorable Conditions Due to the COVID-19 Outbreak
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition

5 MARKET SEGMENTATION

Request For Full Report >>  UV Cured Printing Inks Market

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

MENAFN02032022004694010674ID1103789156