The UV cure printing inks market in North America was valued at $362.9 million in 2015 and is anticipated to reach $ 865.9 million by 2024, expanding at a compound annual growth rate (CAGR) of 10.3% between 2016 and 2024, according to a recent report from Transparency Market Research.
The U.S., which is likely to reach $678.5 million by 2024, is expected to continue as the market leader over the forecast period. The growing demand for publication and commercial printing in a number of industries is projected to boost the U.S. market for UV-cure printing inks in the years to come.
Canada, on the other hand, is likely to lag behind over the period due to the rising preference for e-commerce and e-books, and subsequently decline in the demand for publication and commercial printing, which will eventually negatively impact the sales of UV-cure printing inks. By the end of 2024, Canada reportedly will hold only 21.6% of the overall market.
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