UV Offset Ink Market size is forecast to reach $7 billion by 2025, after growing at a CAGR of 12.8% during 2020-2025. It is a high-quality printing with UV inks and varnishes which harden immediately by UV light, with rise in printing technology the UV Offset Ink Market is witnessing an increase in demand. Growing public interest towards the low price of the print and high-quality printed products using the UV offset printing or digital offset printing technique will further enhance the overall market demand for UV Offset Ink during the forecast period.
Asia-Pacific dominates the UV Offset Ink Market owing to increasing demand from printing media.
Properties such as High reactivity, fast curing speed, good adhesion on synthetic and non-absorbent substrates, is likely to aid in the market growth of UV Offset Ink
Factors such as high demand for digital printing from the packaging sector driving the market for UV Offset Ink in the near future.
Governments stringent regulations regarding the usage of UV-cured inks for food packaging is likely to hinder the market for the UV Offset Ink Market.
Type of UV Offset Ink – Segment Analysis
Narrow web UV offset Ink holds the largest market share in the UV offset Ink market as, this type is mostly used for printing for different applications. In general UV ink application are found more on the narrow web, as the cost of UV ink application is greater when compared to solvent and water-based ink application. In terms of press cost, where the higher cost curing systems needed to be added. In terms of the operating cost, where UV curing requires a lot more energy and the cost of the UV ink itself is higher. Therefore, UV application tends to be installed on the narrow web. The benefit of UV ink is that it dries only under curing, where the photo-initiator within the ink goes through chemical polymerization under UV radiation. Therefore, very fine anilox could be used as the ink doesn’t plug the cells of the anilox, as result producing finer and sharper images. Another benefit of UV ink is that it does not contain solvents, in terms of VOCs emission it is much more friendly.
Application – Segment Analysis
Food Packaging Printing holds the largest market share in the UV offset Ink market. The Packaging is the main card of a product. It’s the first visual and tactile impression the prospective purchaser gains in the shop. Food packaging is an immensely important segment in the packaging sector because it addresses both people’ basic needs and quality of life issues. It provides the consumer with a range of information that can be of crucial importance to their health. Depending on the design, the customer is given suggestions on how to prepare serve the food and in what quantities. The packaging also takes a practical function such as protecting its contents against damage and preventing them from going bad. It can also play an active role in ripening process or extend a product’s shelf life.
Geography – Segment Analysis
APAC has dominated the UV Offset Ink Market with a share of more than xx%, followed by North America and Europe. Countries such as India, China, among others are the major market in this region. In India UV Offset printing are used in variety of different commercial products. Because of the larger population in both of these countries and to have a longer reach, UV Offset Ink were used for printing advertisements for different kinds of industries such as cosmetic, commercial. So, because of the continuous and non-ending demand of UV offset Ink for printing the market for UV Offset Ink will continue to grow in this region.
Drivers – UV Offset Ink Market
Growing demand for UV inks in 3D printing
Growing demand for UV inks in 3D printing for automotive, consumer goods and medical applications are expected to drive the market over the forecast period. Unique properties of UV offset inks and increasing awareness among printers are expected to augment the UV curable inks demand, globally. The growing adoption of UV curable inks on account of their high-performance efficiency, is favoring market growth of UV offset Ink. UV Dry offset, also called waterless, UV Dry-Offset is a printing process combining the characteristics of letterpress and offset.
Growing demand towards political parties
UV offset Ink market is increasing towards all the political parties around the world as, all of them are using UV offset printing for printing their posters, pamphlets and many other things to use as an advertisement for their elections, this has further boost the adoption of UV offset Ink market. Whereas ordering posters in bulk is a great way to reach more customers. With a stack of these portable, attention-grabbing products, can put your message in public spots such as shopping centers, food courts, conventions and more. It can also can also share all the information you wish & distribute them as pamphlets using the full-colour double-sided printing option.
Challenges – UV Offset Ink Market
Impact of COVID 19 on UV offset Ink
The rapid spread of coronavirus has had a major impact on global markets as, major economies of the world are completely lockdown due to this pandemic. Because of this major lockdown, suddenly all the consumer market has started to show zero interest towards purchasing any goods. One of the major difficulties, market is facing are the shutdown of all kinds of transportation. Global crisis for all sectors including shipping, which was hit by slowing demand in goods’ production and exports had slowdown the market for UV Offset Ink.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the UV Offset Ink Market. Major players in the UV Offset Ink Market are Brancher, Flint Group, Hubergroup India Private Limited, Megami Ink Mfg Co. Ltd, Siegwerk, Suzhou Kingswood Printing Ink Co. Ltd, among others.
In June 2019, Amcor acquired Bemis Corporation with the aim of becoming the leading provider of packaging materials and solutions.
In August 2018, Graphic Packaging International, LLC, a subsidiary of Graphics Packaging Holding, acquired Letica Foodservice Assets for around USD 95 million. This has expanded companies growing paperboard-based foodservice platform in North America.