UV Curable Ink Market to Garner $4.5 Billion, Globally, By 2031 at 14.68% CAGR, Says Allied Market Research
Major determinants of the market growth
Rise in need for UV curable ink in printing application and advancements in technology drive the global UV curable inks market. However, volatile raw material prices hinder the market growth. On the contrary, surge in demand for UV inks in 3D printing would unlock new opportunities in the future.
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Covid-19 scenario:
The free radical segment dominated the market
By product type, the free radical segment held the largest share in 2021, accounting for around four-fifths of the global UV curable ink market, as it obtained through polymerization process that needs less time and produce low temperature that do not hamper the curing process. However, the cationic segment is estimated to register the highest CAGR of 17.5% during the forecast period, due to low emission levels, non-odorous nature, and taint-free properties.
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The consumer goods segment to portray the highest CAGR through 2030
By end use, the consumer goods segment is projected to manifest the highest CAGR of 17.04% from 2022 to 2031, as it is used in various applications such as for the production of electronic circuits and devices. However, the publications and printing segment held the largest share in 2021, accounting for more than two-thirds of the global UV curable ink market, due to high demand for unique and individualized consumer goods with attractive colors that are fostered by the UV curable inks
Asia-Pacific to manifest the highest CAGR by 2030
By region, the global UV curable ink market across Asia-Pacific is anticipated to showcase the highest CAGR of 15.17% during the forecast period, due to rising popularity of the 3D printing. However, the market across Europe dominated in 2021, accounting for nearly two-fifths of the market, owing to growth in environmental awareness among the population in the region and adoption of UV curable ink in various end-use industries.
Major Market Players
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