UV-Curable Inks Market to Grow 15%
The world UV curable inks market is expected to garner a revenue of $3.5 billion by 2020, registering a compound annual growth rate (CAGR) of 15.7% from 2015 to 2020, according to a new report by Allied Market Research, “World UV Curable Inks—Market Opportunities and Forecasts, 2014-2020.” Fast-growing packaged food and beverage industries have led to the increasing use of UV inks for label printing. UV LED inks are an emerging technology that is gradually replacing UV inks across different verticals. The Asia-Pacific market is expected to witness an upsurge owing to the increasing adoption in labelling of drugs and consumer goods.
The printing industries have been facing the issues of volatile organic compound (VOC) emissions in the recent years. Stringent environmental regulations pertaining to VOC emissions and remarkable curing properties of UV curable inks would increase their adoption in the publication sector. In addition, sluggish curing properties and low resolution images associated with conventional inks have boosted the demand for instantly curable, high quality, and eco-friendly UV inks. In the current scenario, UV curable inks have emerged as an ideal alternative to solvent- and water-based ink technologies, due to its suitability over a variety of substrates. Constant technological advancements will reportedly continue UV inks’ popularity in the industrial sectors. . Demand for the inks is expected to gradually replace that of conventional UV inks, owing to the longer shelf life and improved energy efficiency of LED lamps.
The Asia-Pacific region, especially China, India and southeast countries, is forecasted to dominate the market throughout the analysis period reaching nearly two-fifth of the total market share by 2020. The increasing demand of UV inks for personal care products, medicines, foods and drinks, among others, will foster the sales in this region. North America and Europe would grow at significant compound annual growth rate during the forecast period.
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