Global UV Fluorescent Inks Market Overview

The UV Fluorescent Inks Market is expected to grow at a significant growth rate, and the analysis period is 2022-2028, considering base year as 2021.

Images or objects that glow under the presence of UV (Ultra-Violet) light are called fluorescent or luminescent. UV fluorescence ink is invisible to the human eye in normal light and is only visible when it is exposed to UV light. Moreover, UV printing is a form of digital printing which uses fluorescent ink. The printer spreads ink on the substrate uniformly then specially designed UV lights are used to cure or dry the ink rapidly. Ultra-violet curing is a photochemical process that utilizes high-intensity UV light to swiftly cure or dry inks, coatings, and adhesives. Fluorescent inks maintain high levels of brightness though they are absorbed on the sheet or any other substrate due to the fact they reflect more light to the eyes.

Moreover, UV fluorescent ink offers an excellent printing solution to ensure security in applications that are highly vulnerable to counterfeiting such as banknotes, documents, revenue stamps, and bank cards thus propelling the UV fluorescent ink market expansion in the span of the forecast. Furthermore, the use of traditional inks in printing cards, flexes, currency, and others utilizes more ink compared to fluorescent ink which is not profitable hence, promoting the UV fluorescent ink market flourish in the period of forecast. Fluorescent inks are of two types, one which is visible under UV light and the other which is visible in normal light.

COVID-19 Impact on UV Fluorescent Inks Market

The outbreak of COVID-19 in 2020 has compelled various industries to shut down. Moreover, to constrain the spread of the virus several government-imposed restrictions on transportation and gatherings of people. COVID-19 has significantly affected the UV fluorescent ink market. Furthermore, as many individuals are forced to work from home amid the COVID-19, the need for home printers to make hard copies of essential documents is expected to rise hence it will have a positive impact on the UV fluorescent ink market. The shutting of restaurants has given rise to online ordering of food. Moreover, there is a growing demand for flexible packaging that is considered more hygienic due to limited handling. Additionally, there has been a significant rise in food and beverage delivery services, which is expected to have a positive impact on the UV fluorescent Ink market in the forecast period owing to the rising use of disposable packaging. The restrictions imposed on transportation disrupted the supply chain, therefore, caused the unavailability of products in the market.

Market Dynamics And Factors In UV Fluorescent Inks Market

Drivers:

UV ink is dry when it comes out of the press. Moreover, there is no need to wait for the ink to dry before folding, binding, or performing other finishing operations. UV fluorescent ink works with a wide range of materials, including paper and non-paper substrates. UV Printing works well with synthetic paper, a popular substrate for menus, maps, and other moisture-resistant applications thus promoting the growth of the UV fluorescent ink market during the span of the forecast. Furthermore, UV-cured inks are less susceptible to ink transfer, scuffs, or scratches during handling and transportation. Moreover, UV fluorescent ink resists fading thus, promoting the growth of the UV fluorescent inks market in the period of forecast. Furthermore, UV printing is more vibrant and sharper compared to conventional printing methods.

Due to the rapid drying property of ink, it eliminates the chances of spreading or absorbing into the substrate. As a result, the printing is vivid and crisp. The UV printing process is environmentally friendly owing to the factor UV-cured inks are not solvent-based. Moreover, there are no harmful chemical substances that can evaporate into the surrounding air hence, these factors strengthen the expansion of the UV fluorescent inks market in the period of forecast. In UV printing 100% of the ink volume is used thus, reducing the cost of printing significantly. Furthermore, UV fluorescent inks lack evaporative agents thus, they maintain consistency throughout the whole press run without getting thick or sicky thus strengthening the UV fluorescent ink market expansion.

Restraints:

The main drawback of using UV fluorescent ink is observed in food packaging. Moreover, there is a risk of migration of the ink components into foodstuff thus degrading the quality and viability of food products thus, hampering the UV fluorescent ink market growth in the period of forecast. The cost of ink used in printing is high which is hindering the UV fluorescent ink market expansion in the span of the forecast. Moreover, the initial startup investments cost to begin using UV inks is high. Furthermore, multiple anilox rolls are required to fix colors, these anilox rolls provide a predetermined, metered, and uniform amount of ink to the printing plate. If these UV inks come in direct contact with skin, then it causes skin irritation further, in some cases people may also have severe allergic reactions thus restricting the growth of the UV fluorescent market growth in the period of forecast. Moreover, UV inks don't dry until they are cured and if they are spilled then it's a big challenge to clean them up and it's a very time-consuming process thus restricting the UV fluorescent ink market growth during the forecast period.

Opportunities:

Inks that glow in the dark are a fun feature that attracts kids thus instigating market players to develop products for kids that have UV fluorescent ink. Moreover, UV fluorescent inks can be used to design clothes, toys, and other things for kids. The growing demand for product authenticity in the food and beverages sector is generating opportunities for market players to develop UV fluorescent ink that can be used on labels without degrading the product quality. Furthermore, several governments are using UV fluorescent ink in various certificates to ensure its legitimacy hence providing ample opportunities for UV fluorescent ink market players. In developed countries, the use of UV fluorescent ink to manufacture colorful solar panels for Building-integrated photovoltaics is increasing.

Challenges:

 Recently, the demand for digital delivery of documents and data is soaring. Moreover, it has resulted in the reduction in the printing of certain products such as directories, financial documents, certificates issued by governments, graduation certificates, and books. Furthermore, the rise in demand for e-books and online or digital advertisement is restricting the UV fluorescent ink to be utilized in physical pamphlets thus posing a major challenge to the UV fluorescent ink market players.

Market Segmentation

Segmentation Analysis of UV Fluorescent Inks Market:

Based on Ink Type, the UV Fluorescent Inks market is segmented into oil-based, neon-based, water-based, solvent-based, and UV-cured.

The UV cured segment is expected to have the highest share in the UV fluorescent ink market owing to rapid drying quality as it eliminates the time required for waiting. Moreover, the use of UV cured inks produces vivid and realistic images that can be used for packaging foods and beverages, as well as on a wide range of flexible materials. The UV cured ink is 100 % toxin-free hence, it is environment friendly further there is no wastage of ink as compared to solvent-based inks.

Based on Type, the UV fluorescent inks market is segmented into UV invisible fluorescent ink and UV visible fluorescent ink. UV invisible fluorescent ink is anticipated to dominate the UV fluorescent market in the span of forecast owing to the characteristic of being visible only in the UV light. This UV invisible fluorescent ink is used as inscriptions, text, secret codes, and for marking personal objects to identify them. This UV invisible fluorescent ink is used in currency to tackle counterfeiting.

Based on Range, the UV fluorescent ink market is segmented into four types in which Uvoglow F (UWF) is estimated to lead the market during the period of forecast. Uvoglow F is also known as UV curing flexo range. Moreover, as there is no solvent used it reduces emissions further, it also allows superior print quality, good adhesion on flexible and many other substrates, high product, and chemical resistance are some of the characteristics of Uvoglow F which makes it compatible with being used in many printing areas.

Based on Applications, the use of UV fluorescent ink to ensure security is gaining popularity. Moreover, several governments are incorporating the use of UV fluorescent ink in currency notes to tackle counterfeiting. Furthermore, many companies are using it on their product labels to ensure the authenticity of products to their consumers. These factors are anticipated to support the use of UV fluorescent ink in security checks in various aspects. The BIPV segment is expected to have the highest growth rate in developed regions owing to the high development in technology used for constructing BIPV. BIPV can help in minimizing greenhouse emissions.

Regional Analysis of UV Fluorescent Inks Market:

Depending upon geography the UV Fluorescent Inks market is divided into five regions that are North America, South America, Middle East, and Africa, Asia-Pacific, and Europe.

North America region is anticipated to dominate the market in terms of the production of UV fluorescent ink owing to the presence of a large number of UV fluorescent ink manufacturers in this region. Moreover, the increase in the use of UV fluorescent ink for packaging and textile printing is further doing to support the market growth in this region. North America followed by Europe is expected to have a positive significant growth owing to the developed technologies used in the construction of BIPV. Increasing demand for packaged foods, high disposable income, and the demand for UV fluorescent ink in the textile industry is propelling the market growth in this region.
Asia-Pacific region is the highest consumer of UV fluorescent ink. This region is expected to have the highest growth rate in the period of forecast. Due to several industries present in this region utilize UV fluorescent ink for printing barcodes on particular products.

Players Covered in UV Fluorescent Inks Market are:

• HP Development Company
• L.P. (US)
• swissQprint AG (Switzerland)
• NUtec Digital Ink (Pty) Ltd (South Africa)
• Domino Printing Sciences plc (US)
• Maxell Ltd (Japan)
• Petrel Ltd (UK)
• EPTANOVA S.R.L. (US)
• HSA Systems ApS (Denmark)
• Dayglo Color Corp (US)
• Epple Druckfarben AG (Germany)
• T&K TOKA Corporation (Japan)
• Angstrom Technologies Inc (US)
• Marabu GmbH & Co. KG (Germany) and other major players.

Key industry development in UV Fluorescent Inks Market

• In August 2021, NUtec Digital Ink introduced a substitute ink range for MAX2 and Roland Eco-Sol MAX consumers in the form of its Diamond eco-solvent product range. These new varieties are going to provide top-quality abrasion and chemical resistance while providing superior media compatibility across a wide range of flexible substrates and self-adhesives.
• In June 2021, Domino Digital Printing Solutions, a leading company in digital printing solutions, and their collaboration with Paragon Inks, a global ink specialist has developed a new range of varnishes especially for overprinting on Domino's inkjet inks. With the use of these varnishes' users will be able to protect their labels from sunlight, wear, or abrasion as well as it will help in extending the life of labels.
• In September 2021, EPTANOVA manufactured AQUA Transparent and Texilac Mock Discharge White inks have been added to the list of Eco Passport by OEKO-TEX. These Inks meet all the requirements in terms of environmental and health protection needed by major brands in the fashion world. Moreover, EPTANOVA has launched BIO INKS for textile screen printing in September 2020.