UV Cure Printing Inks Market Growth Opportunities and Forecast up to 2024

According to TMR’s estimations, the North America market for UV cure printing inks offered an opportunity worth US$362.9 mn in 2015. Advancing at a CAGR of 10.30% between 2016 and 2024, the market is projected to cross US$865.9 mn by the end of the forecast period. Offset printing surfaced as the key application area of UV cure printing inks in 2015 with a share of 38%. Driven by its extensive usage in the packaging and the publication and commercial printing sectors, this segment is likely to remain dominant over the forecast period.

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The U.S. and Canada are the key domestic markets for UV cure printing inks in North America. Among the two, the U.S. has surfaced as the leading contributor to the overall market in terms of revenue and is expected to remain dominant throughout the forecast period. With the imminent upswing in the demand for publication and commercial printing in a number of industries, the U.S. market for UV cure printing inks ins likely to cross US$678.5 mn by the end of the forecast period.

Although Canada exhibited healthy growth in the demand for UV cure printing inks in the recent past, the surging trend of e-commerce and e-books is projected to limit the demand for publication and commercial printing in Canada, which eventually, will decrease the sales of UV cure printing inks in this nation and reflect negatively on the overall growth of this domestic market over the forecast period. As per analysts, the market for UV cure printing inks in Canada will reach a volume of only 41.7 kilo tons by the end of 2024.

The North America market for UV cure printing inks demonstrates a moderately fragmented competitive landscape with domestic participants holding a large share in the overall market. FUJIFILM Corp., Flint Group, Nazdar, E. I. du Pont de Nemours and Co., Toyo Ink America LLC, Sun Chemical Corp., Wikoff Color Corp., Huber Group, Electronics For Imaging Inc., Siegwerk Druckfarben AG & Co. KGaA, Marabu North America, and INX International Ink Co. are some of the leading players operating in this market.

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