A new report by Allied Market Research titled, "World UV Curable Inks-Market Opportunities and Forecasts, 2014 - 2020," forecasts that the world UV curable inks market would garner a revenue of $3.5 billion by 2020, registering a CAGR of 15.7% during 2015 - 2020. Fast-growing packaged F&B industries have led to the increasing use of UV inks for label printing. UV LED inks is an emerging technology, which 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 volatile organic compound (VOC) emissions and remarkable curing properties of UV curable inks would increase their adoption in the publication sector. Moreover, 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 owing to its suitability over a variety of substrates. UV ink is expected to continue its popularity in the industrial sectors owing to the constant technological advancements. UV LED inks is expected to gradually replace the conventional UV inks owing to the longer shelf life and improved energy efficiency of LED lamps.
The publications and printing industry would continue to be the leading consumers of UV inks in future. However, the printing industry would witness a decline in the demand for UV inks owing to growing usage of electronic content. Publication and printing industry would constitute nearly one-third of the total market revenue by 2020; whereas, the consumer goods industry would grow at the fastest CAGR during the forecast period. Free radical UV inks segment has contributed to about 90% share of the total world UV curing inks market in 2014 owing to its superior adhesion, faster curing and improved durability properties.
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