Due to the absence of a clear dominance, the North
America UV Cure Printing Inks Market is demonstrating a moderately
fragmented but highly competitive landscape. FUJIFILM, Flint Group,
Nazdar, DuPont, Toyo Ink America, and Sun Chemical Corp. are some of
the leading companies in this market.
Currently, these players are aggressively focusing on
competitive pricing strategy in order to enhance their visibility in
this market. However, this strategy is expected to intensify the
rivalry between the participants in the coming years.
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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.
U.S. to Continue as Market Leader Thanks to
Growing Demand from Publication and Commercial Printing
The research report also presents a study of the
North America market for UV cure printing inks on the basis of its
geographical presence. Predominantly, Canada and the U.S. have
emerged as the key domestic markets for UV cure printing inks in this
region. Thanks to the significant growth in the packaging industry,
the U.S. has acquired the lead among the two.
Researchers expect the U.S., which is likely to reach
US$678.5 mn by 2024, to continue as the market leader over the
forecast period. The growing demand for publication and commercial
printing in a number of industries is projected to boost the U.S.
market for UV cure printing inks in the years to come.
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Canada, on the other hand, is likely to lag behind
over the forthcoming years due to the rising preference for
e-commerce and e-books and subsequent decline in the demand for
publication and commercial printing, which eventually, will impact
the sales of UV cure printing inks negatively. By the end of 2024,
Canada would hold only 21.6% of the overall market, reports the
study.
Increasing Penetration of Digital Media to Reflect
Positively on Sales of UV Cure Printing Inks
“The increasing penetration of digital media across
North America is reflecting positively on the sales of UV cure
printing inks in this region,” says a researcher at TMR. The trend
is expected to remain so in the near future, influencing the regional
market greatly.
The growing preference for digital media compared to
traditional printing in architectural designs, textiles, fine arts,
advertising, and desktop publishing, thanks to the flexibility it
offers, is likely to propel the North America market for UV cure
printing inks substantially over the next few years, states the
research report.
Advent of E-commerce and Electronic Alternatives
of Daily-use Applications may Hamper Growth
Although the growth prospects of the North America
market for UV cure printing inks looks bright, the advent of
e-commerce and the electronic versions of a number of daily-use
applications, such as e-literature, e-tickets, e-coupons, is likely
to act as an obstacle in the market’s growth trajectory in the
coming years.
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The continued decline in paper-based communication
channels is also anticipated to hamper this market in the near
future, notes the study.
The study presented here is based on a report by
Transparency Market Research (TMR) titled “UV Cure Printing Inks
Market - North America Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
The North America UV Cure Printing Inks Market is
segmented into:
By Product
- Arc Curing
- LED Curing
By Application
- Flexographic Printing
- Gravure Printing
- Offset Printing
- Digital Printing
- Screen Printing
By End User
- Publication and Commercial Printing
- Packaging
- Others (Textile, Decorative inks, etc.)
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