A photochemical process, wherein high intensity ultraviolet light is used for curing or drying adhesives, coatings inks, etc. is called as ultraviolet curing.
Technological advancements in printing sector coupled with increasing demand for eco-friendly coatings and technology are major factors driving growth of the global UV (ultraviolet) curable inks market. In addition, increasing demand from various sectors such as medical, automotive, and consumer electronics is another factor fueling growth of the target market. Rapid development in LED technology is boosting demand for UV LED ink, which is another factor expected to propel growth of the global market to significant extent over the forecast period. Major factors hampering growth of the global UV (ultraviolet) curable inks market are high cost and fluctuating raw material prices.
The global UV (ultraviolet) curable inks market is segmented into product type, application, and region. On the basis of product type, the global market is segmented into free radical and cationic. The free radical segment accounted for highest market share and the cationic segment is expected to witness significant growth over the forecast period.
On the basis of application, the global market is segmented into automotive, medical, publications, packaging and others. The automotive sector is expected to witness highest growth over the forecast period.
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On the basis of region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The market in Asia Pacific accounts for highest share in the global market in terms of revenue and is expected to witness highest growth over the forecast period. The market is North America is expected to witness significant growth over the forecast period.
Key players in the global market Hewlett-Packard Co., APV Enginerred Coatings, Illinois Tool Works Inc., Flint Group, Toyo Ink SC Holdings Co., Paul Leibinger GmbH, Eastern Marking Machine Corporation, Gans Ink & Supply Co., T&K Toka Corporation, Leibinger Group, and other prominent players.