Major factors driving the market studied are growing demand from the digital printing industry and rising demand from the packaging and labels sector.
According to Research and Markets' “UV Cured Printing Inks Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026),” the market for UV cured printing inks is forecasted to reach USD 1,600.29 million by 2026, registering a CAGR of 4.64%, during the period (2021-2026).
Major factors driving the market studied are growing demand from the digital printing industry and rising demand from the packaging and labels sector. On the flip side, the decline in the conventional commercial printing industry is hindering the growth of the market.
The packaging industry dominated the UV-cured printing inks market in 2019-2020. The usage of UV-cured inks gives an overall better dot and print effect, resulting in a high-quality finish. They are also available in a wide range of finishes that can be used in surface protection, gloss finishes, and many other print processes where UV can immediately cure.
Since they can fully dry during the print process, helping the product proceed quickly for the next step of production has also made it a preferred choice among manufacturers.
Initially, UV-cured inks were not accepted by the packaging world, such as in food packaging, as these printing inks contain colorants and pigments, binders, additives, and photoinitiators, which can transfer into the food product. However, continued innovations in the UV-cured inks sector have continued to change the scene ever since.
The demand for packaging is significant in the United States, which is driven by the increasing demand from the digital printing market and flexible packaging industry. With the improving government focus and investments in various industries, the demand for UV-cured printing ink is expected to increase substantially during the forecast period. According to the publisher, the US packaging industry was valued at USD 189.23 billion in 2020, and it is expected to reach USD 218.36 billion by 2025.
Post time: Sep-28-2022