UV Curable Inks Market: Snapshot
The increasing demand for curable inks from the food and beverage industry stands as the key factor boosting the global UV curable inks market growth. UV curable ink consists of ultraviolet light with different energy and wavelengths for making the quality of the ink film drying by polymerization. The increasing popularity of 3D printing is expected to help the market gain significant revenues in the forecast duration, 2024-2030.
The report is based on a 360-degree overview of the global ultraviolet curable inks market. It primarily focuses on drivers, restraints, current trends, and other interesting insights into the market. It provides the list of manufacturers and their contribution to the growth of the market in the form of research and developmental investments, merger and acquisition strategies, or new product launches. The report further categorizes the key segments, lists the names of the leading segment and its attributed factors.
The impact of the novel COVID-19 pandemic has also been discussed in the report. The impact of coronavirus on the UV curable inks market and the possibility of generating revenues is elaborately discussed in the report. Such vital information will bode well for the growth of the market during 2024-2030.
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UV Curable Inks Market: Competitive Landscape
The presence of multiple players has led to an intense nature of market competition. Some of the players of this market are Hanghua Toka, Toyo Ink Group., DIC, Ricoh, Hewlett-Packard, Siegwerk, Flint Group, NUtec Digital Ink, Gans Ink & Supply, and others. The key strategies adopted by vendors include heavy investments on new product development, collaborative innovations, and joint ventures.
UV Curable Inks Market: Current Trends
The quality of ultraviolet curable inks is superior to that of traditional printing inks. This stands as a key factor aiding to the expansion of the market. Besides this, UV curable inks offer other advantages such as quicker drying time, high volatile organic compound (VOC),speedy photochemical processing, high bonding, and environment-friendly constituents that is further expected to attract high revenues for the market in the forecast period. Moreover, the rise in demand of multiple printing applications and the biocompatible properties of UV curable ink will also drive the market. Other properties of this ink include low viscosity, reduction in production of waste and low energy usage, which will add impetus to the growth of the market.
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UV Curable Inks Market: Regional Segmentation
The global UV curable inks market is classified on the basis of type, application, and regions. In terms of regions, the market is classified into North America, Europe, Asia Pacific, Latin America, South America, and the Middle East and Africa. Asia Pacific is holding the highest share on account of the high demand for environment-friendly inks in various applications. This, coupled with the rise in disposable incomes of consumers and increasing popularity of digital devices is further expected to help the region continue dominating the market in the coming years.
On the other side, the market in North America is anticipated to witness significant growth in the coming years on account of the presence of major electronic device vendors such as Texas Instruments, Micron, Avago, and Intel. These leading companies are investing in product development and launching products with analog and digital semiconductor technologies, thereby adding a boost to the overall growth of the regional market in the coming years.
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