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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