UV Cured Printing Inks Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Europe |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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UV Cured Printing Inks Market Analysis
The UV-cured printing ink market is estimated to be USD 1,391.54 million by the end of this year. It is projected to reach USD 1,770.07 million in the next five years, registering a CAGR of over 4.5% during the forecast period.
The COVID-19 pandemic disrupted the UV-cured printing ink market, reducing supply due to closures, transportation restrictions, and declining demand from various sectors. Nonetheless, the market rebounded in 2022 due to increased demand from the textiles and packaging sectors.
- Major factors driving the market study are growing demand from the digital printing industry, rising demand from the packaging and labels sector, and increased demand from the textile industry.
- On the flip side, the decline in the conventional commercial printing industry and the availability of substitutes are hindering the studied market's growth.
- The development of bio-based UV curable inks and growth from the medical industry is expected to offer various opportunities for market growth over the forecast period.
- Europe dominated the global market, with most of the consumption coming from countries such as Germany, Italy, and other countries.
UV Cured Printing Inks Market Trends
Packaging to Dominate the Market
- UV-cured printing inks are used for high-quality prints on a range of substrates. The inks are cured using ultraviolet radiation, which results in a high-quality and durable print.
- With the changing consumer preferences, the packaging industry faced numerous challenges. However, the packaging industry will see immense opportunity by adopting various upgraded technologies, like digital printing. Digital printing is rapidly expanding into label production and electrophotography. The packaging industry is expected to experience a significant revolution over the next decade due to the increasing application of digital printing.
- Siegwerk, a manufacturer of printing inks for packaging applications, labels, and catalogs, was the first to offer LED UV printing inks for food and pharmaceutical packaging.
- The packaging industry is crucial, adding value to various manufacturing sectors, including food and beverage, pharmaceutical, retail, and others. Increased consumer spending on packaged goods, mainly in food and beverage, is the major factor for market growth.
- The increasing demand for packaged food and pharmaceutical products in growing economies, such as China, India, and other countries, is expected to drive the studied market's growth.
- China includes the second-largest packaging industry in the world. The country is expected to witness consistent growth during the forecast period, owing to the rise of customized packaging in the food segment, like microwave, snack, and frozen foods, along with increasing exports. The use of packaging is expected to increase in the coming years.
- Packaging is the fifth largest sector in India's economy. It is one of the highest growth sectors in the country, with a CAGR of 22% to 25%, according to the Packaging Industry Association of India (PIAI). The Indian food processing industry contributes 32% of the country's overall food market.
- According to the Flexible Packaging Association, flexible packaging is mainly used for food, which accounts for more than 60% of the total market. Since it could incorporate new solutions for various packaging issues, the flexible packaging industry is experiencing robust growth.
- As per IBEF, India is an emerging key exporter of packaging materials globally. The packaging materials export from India grew at a CAGR of 9.9% to USD 1,119 million in 2021-22.
- Hence, based on the aspects above, the packaging segment is expected to grow during the forecast period.
Europe to Dominate the Market
- The demand for packaging is significant in Europe, which is majorly driven by the increasing demand from the digital printing market and the flexible packaging industry. The flexible packaging market in Europe is driven by high demand from food and beverage, pharmaceuticals and medicals, retail bags, and other non-food-related products industries.
- The changing trends in consumer behavior and manufacturers' easier convenience benefitted the flexible packaging market to grow faster in the region, further benefitting the UV-cured printing ink market.
- According to Food Drink Europe, the region's food and drinks industry is the leading manufacturing industry in the region. The region includes a share of 9.2% of value-added in the European Union's manufacturing industry.
- The EU Packaging and Packaging Waste Directive (PPWD) sets plastic packaging recycling targets of 50% (2025) and 55% (2030). In 2022, the Commission increased the reuse and use of recycled plastic, requiring all packaging to be economically recyclable by 2030. With the increased focus on recyclable packaging, the demand for UV-cured printing inks is also expected to rise in Europe.
- Based on the factors mentioned above, the UV-cured printing ink market is expected to grow during the forecast period in Europe.
UV Cured Printing Inks Industry Overview
The UV curable printing inks market is consolidated, with the top five players accounting for around 60%. Some major players include Sun Chemical, INX International Ink Co., Flint Group, Siegwerk Druckfarben AG & Co. KGaA, and Tokyo Printing Ink Mfg Co. Ltd, among others.
UV Cured Printing Inks Market Leaders
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Siegwerk Druckfarben AG & Co. KGaA
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TOYO INK SC HOLDINGS CO. LTD
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Flint Group
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Sun Chemical
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INX International Ink Co.
*Disclaimer: Major Players sorted in no particular order
UV Cured Printing Inks Market News
- February 2023: Flint Group, a print consumables manufacturer, announced the success of its UV LED ink range, EkoCure Ancora F2, with dual curing capability. It is designed specifically for labeling and food packaging.
- May 2022: Fujifilm launched the Activ Hybrid LED UV curing system, which can be installed on new presses or retrofitted to existing equipment by label and packaging converters.
UV Cured Printing Inks Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Growing Demand from the Digital Printing Industry
- 4.1.2 Rising Demand from the Packaging and Label Sector
- 4.1.3 Increase in Demand from Textile Industry
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4.2 Restraints
- 4.2.1 Decline in the Conventional Commercial Printing Industry
- 4.2.2 Availability of Substitutes
- 4.2.3 Other Restraints
- 4.3 Industry Value-Chain Analysis
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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 (Market Size in Value)
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5.1 Curing Process
- 5.1.1 Arc Curing
- 5.1.2 LED Curing
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5.2 UV Cured Printing Inks Type
- 5.2.1 UV Flexo Inks
- 5.2.2 UV Offset Inks
- 5.2.3 UV Low Energy/LED Offset Inks (Except UV Offset Inks)
- 5.2.4 UV Screen Printing Inks
- 5.2.5 Other UV Cured Printing Inks Type
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5.3 Application
- 5.3.1 Packaging
- 5.3.2 Commercial and Publication
- 5.3.3 Other Applications
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5.4 Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 Italy
- 5.4.3.4 France
- 5.4.3.5 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Rest of South America
- 5.4.5 Middle-East and Africa
- 5.4.5.1 South Africa
- 5.4.5.2 Saudi Arabia
- 5.4.5.3 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%) Analysis **/ Market Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 ALTANA
- 6.4.2 APV Engineered Coatings
- 6.4.3 AVERY DENNISON CORPORATION
- 6.4.4 Flint Group
- 6.4.5 FUJIFILM Holdings America Corporation
- 6.4.6 Gans Ink & Supply
- 6.4.7 HP Development Company, L.P.
- 6.4.8 HUBERGROUP DEUTSCHLAND GMBH
- 6.4.9 INX International Ink Co.
- 6.4.10 Marabu GmbH & Co. KG
- 6.4.11 Mimaki Engineering Co. Ltd
- 6.4.12 Siegwerk Druckfarben AG & Co. KGaA
- 6.4.13 Sun Chemical
- 6.4.14 T&K TOKA Corporation
- 6.4.15 TOKYO PRINTING INK MFG CO.,LTD.
- 6.4.16 TOYO INK SC HOLDINGS CO., LTD.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Development of Bio-based UV-Curable Inks
- 7.2 Growth in the Medical Industry
UV Cured Printing Inks Industry Segmentation
UV curing inks are exclusively formulated inks that remain liquid until they are exposed to intense ultraviolet light for curing. The UV light cross-links the ink components into a tough polymer. This reaction is almost instant. These inks do not rely on absorption into substrates for drying as they contain no solvents. The UV-cured printing ink market is segmented by curing process, UV-cured printing ink type, application, and geography. The curing process segments the market into arc curing and LED curing. By UV cured printing inks type, the market is segmented into UV flexo inks, UV offset inks, UV low energy/LED offset inks, UV screen printing inks, and other UV cured printing inks types. The market is segmented by application into packaging, commercial and publication, and other applications. The report also covers the market sizes and forecasts for the UV-cured printing ink market in 15 countries across major regions. Each segment's market sizing and forecasts are based on revenue (USD million).
| Curing Process | Arc Curing | |
| LED Curing | ||
| UV Cured Printing Inks Type | UV Flexo Inks | |
| UV Offset Inks | ||
| UV Low Energy/LED Offset Inks (Except UV Offset Inks) | ||
| UV Screen Printing Inks | ||
| Other UV Cured Printing Inks Type | ||
| Application | Packaging | |
| Commercial and Publication | ||
| Other Applications | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle-East and Africa | South Africa |
| Saudi Arabia | ||
| Rest of Middle East and Africa |
UV Cured Printing Inks Market Research FAQs
What is the current UV Cured Printing Inks Market size?
The UV Cured Printing Inks Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in UV Cured Printing Inks Market?
Siegwerk Druckfarben AG & Co. KGaA , TOYO INK SC HOLDINGS CO. LTD , Flint Group, Sun Chemical and INX International Ink Co. are the major companies operating in the UV Cured Printing Inks Market.
Which is the fastest growing region in UV Cured Printing Inks Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in UV Cured Printing Inks Market?
In 2024, the Europe accounts for the largest market share in UV Cured Printing Inks Market.
What years does this UV Cured Printing Inks Market cover?
The report covers the UV Cured Printing Inks Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the UV Cured Printing Inks Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
UV Curable Ink Printing Industry Report
Statistics for the 2024 UV Curable Ink Printing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. UV Curable Ink Printing analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
