UV Cure Printing Inks Market
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 .
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 .
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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 .
The continued decline in paper-based communication channels is also anticipated to hamper this market in the near future , notes the study .
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