UV Cure Printing Inks Market
UV Cure Printing Inks Market (Product - Arc Curing and LED Curing; Application - Flexographic Printing Inks, Gravure Printing Inks, Offset Printing Inks, Digital Printing Inks, and Screen Printing Inks; End User - Publication & Commercial Printing, Packaging, Textile, and Decorative Inks) - North America Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
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North America UV Cure Printing Inks Market: Overview
Manufacturers of UV cure printing inks have always seen demand potential from a range of industries. Growing demand for packaged materials is projected to fuel the growth of the North America UV cure printing inks market. The main motive of creating of UV curable inks is to use them as a substitute to solvent-based products. Use of UV curing is widespread in the printing industry. UV curing is a photochemical process that uses high-intensity ultraviolet light. This helps in instantly curing or drying inks.
The North America UV cure printing inks market is projected to show growth at the stupendous CAGR of 10.30% during period of 2016–2024. The revenues of this market are all set to grow from US$362.9 mn in 2015 to US$865.9 mn by 2024.
In traditional air- and heat-drying processes, solvents are evaporated. This leads in shrinking the original application by over 50%. At the same time, it situation is responsible for creating environmental pollutants. These drawbacks of conventional process have opened the doors for the entry of UV cure. This process has no environmental harms. As a result, there is upsurge in the demand for UV cure printing inks in the North America.
The study segments the North America UV cure printing inks market on the basis of product, application, and end user.
Widespread Demand for Packaged Products Opening New Growth Avenues
Packaging, publication and commercial printing, textile, and decorative inks are some of the major end users of UV cure printing inks. Of them, publication and commercial printing industry is projected to offer highest opportunities for the growth of the North America UV cure printing inks market. Some of the key factors supporting this projection are upsurge in the demand for publication and commercial printing in wide range of industries.
Among Applications, Offset Printing Segment Projected to Outshine
Some of the key applications areas of the North America UV cure printing inks market are flexographic printing, gravure printing, screen printing, digital printing, and offset printing. In 2015, the application area that gathered highest demand percentage in the North America UV cure printing inks market was offset printing. This segment had gathered almost 38% shares of the North America UV cure printing inks market. According to analysts, the segment is projected to continue this pattern of growth and will remain leading throughout the forecast period.
Countries such as Canada and the U.S. represent important regional markets for UV cure printing inks North America. Of them, the U.S. is said to be the primary market. The country has gathered highest revenues in recent period. Moreover, it is projected to continue this trend and maintain its dominance in North America UV cure printing inks market during forecast period. Upward demand curve from numerous companies from publication and commercial printing sectors is projected to help the market for the U.S. region to gather over US$678.5 mn in revenues in the forecast period.
Competitive landscape of the North America UV cure printing inks market is fairly fragmented in nature. The key reason for the same is plentiful number of players in it. This clearly indicates high competition level in the market. E. I. du Pont de Nemours and Co., Siegwerk Druckfarben AG & Co., Electronics For Imaging Inc., Marabu North America, Toyo Ink America LLC, and KGaA, INX International Ink Co are some of the important players in the North America UV cure printing inks market.
UV Cure Printing Inks Market to Ride on the Back of its Growing Preference Over Traditional Ones
UV ink is a kind of digital printing ink that makes use of UV light to cure or dry printed inks. Based on the drying and ink property, it is mostly possible to use two kinds of inks, traditional inks and UV cured ink. The method of printing both traditional ink and UV Cured Ink is the same; the only difference is the drying process and ink linked with that ink. Most printers are already utilizing UV Cured Inks printing because of the various benefits it has over traditional inks printing, which involves the fact that traditional inks printers are still using solvent inks, which are not the safest choice for printing. Traditional ones quickly evaporate into the air and release volatile organic compounds (VOCs). Traditional inks also need extra powder for spraying to dry inks, so the paper can quickly absorb regular inks and dilute the pigment into the paper and decrease the strength of the color of the paper. Since traditional inks are absorbed by the surface on which they are printed, it cannot be applied on products like foils, acrylics and plastics. Numerous benefits offered by this ink is estimated to work in favor of the global UV cure printing inks market in the forthcoming years.
Widening Scope of Use in the Packaging Sector to Pave Way for Rapid Growth of the Market
The demand for UV-cured printing inks was driven by the packaging sector. UV-cured inks provide a stronger overall dot and print effect, culminating in a high finish. They often come in a variety of finishes that can be utilized for matte finishes, surface protection, and a variety of other print processes that include UV curing. Since they can completely dry during the printing process, enabling the product to move easily to the next stage of manufacturing, they've become a popular option amongst manufacturers.
UV-cured inks were initially rejected by the packaging industry, particularly in food packaging, because they contain pigments and colorants, as well as pigments, binders, photoinitiators, and chemicals, all of which can seep into the food product. Continuous developments in the UV-cured inks market, on the other hand, have changed the scene ever since leading to an expansion of the global UV cure printing inks market in the near future.
North America UV Cure Printing Inks Market: Overview
Ultraviolet curing (UV curing) is a photochemical process wherein high intensity UV light is used to cure or dry inks, adhesives or coatings. UV cure inks speed up the printing process by reducing the drying time while facilitating superior bonding. UV cure inks do not employ the use of environmentally harmful solvents, additionally; they do not cause loss of coating thickness and volume loss in final prints.
The report provides in-depth analysis and forecast of the UV Cure Printing Inks Market in North America. It includes forecast for the period from 2016 to 2024 in terms of volume (Kilo Tons) and revenue (US$ Mn). Quantitative data has been derived through extensive secondary research of the UV Cure Printing Inks Market in North America. Secondary sources typically include company websites, relevant magazines, government documents, and press releases. The top-down approach has been adopted to derive the revenue and volume figures for the UV Cure Printing Inks Market in North America.
Furthermore, the bottom-up approach has been employed to derive data for various application segments based on demand for UV cure printing inks. A combination of top-down and bottom-up approaches helps validate the quantitative data. The data was further validated with the help of primary research with industry experts to ensure accuracy of derived numbers.
North America UV Cure Printing Inks Market: Scope of the Study
Detailed analysis of various factors driving the UV Cure Printing Inks Market in North America has been included for astute decision making. Impact of these drivers has been analyzed with data to substantiate research findings. Furthermore, factors restraining market growth have been included for better understanding of the market. Impact of these restraints has been analyzed over the course of the forecast period. The report also comprises various opportunities available for market growth during the next eight years. Opportunities entail untapped or recently explored factors that are anticipated to drive the UV Cure Printing Inks Market in North America during the forecast period.
The report includes value chain analysis to help understand the industry thoroughly. Value chain analysis comprises detailed evaluation of the roles of various entities involved in the printing inks industry, from raw material suppliers to end-users. Various processes employed in the manufacture of printing inks have been included in the value chain analysis. Porter’s Five Forces model has been employed to determine the degree of competition in the market during the forecast period.
Company market share analysis has been included for better understanding of the competitive landscape. Company market share analysis comprises the market share of dominant players in 2015, based on their production capacities. Furthermore, market attractiveness analysis has been conducted to analyze product segments that are expected to be lucrative during the forecast period. This is based on various factors such as market size, growth rate, profitability, raw material procurement, and competition in each product segment.
North America UV Cure Printing Inks Market: Segmentation
The report comprises detailed analysis of all the segments in the UV Cure Printing Inks Market in North America and forecast based on current and future trends in the industry in terms of volume (tons) and revenue (US$ Mn). These inks can be classified into liquid and paste. Liquid inks are employed in gravure and flexographic printing processes, while paste inks are used in offset printing process. Pigments are extensively used in printing inks as colorants (except in flexographic printing process). Invisible or fluorescent printing dye stuff is used as colorants in flexographic printing process and some other special applications such as heat transfer printing.
Based on application, the UV Cure Printing Inks Market in North America has been segmented into screen printing inks, flexographic printing inks, gravure printing inks, offset printing inks, digital printing inks, and specialty inks.
In terms of end-user, the market has been segmented into publication & commercial printing, packaging, and others (textile, decorative inks, etc.). Demand for printing inks in each of its application segments has been analyzed and forecast for the period of eight years.
Companies mentioned in this research report
The report also comprises profiles of leading companies in the UV Cure Printing Inks Market in North America. These include Sun Chemical Corporation, Flint Group, Siegwerk Druckfarben AG & Co. KGaA, E. I. du Pont de Nemours and Company, Electronics For Imaging, Inc, FUJIFILM Corporation, Marabu North America, Huber Group, Toyo Ink America, LLC, INX International Ink Co, Nazdar, and Wikoff Color Corporation. Various attributes of these companies such as company overview, business strategies, and recent developments form the core of the company profiles section.
This report segments the UV Cure Printing Inks Market in North America as follows:
UV Cure Printing Inks Market – Product Analysis
- Arc Curing
- LED Curing
UV Cure Printing Inks Market – Application Analysis
- Flexographic Printing Inks
- Gravure Printing Inks
- Offset Printing Inks
- Digital Printing Inks
- Screen Printing Inks
UV Cure Printing Inks Market – End-user Analysis
- Publication & Commercial Printing
- Others (Textile, Decorative inks, etc.)