UV LED printers are used for inkjet printing on hard substrates. These printers are commonly used to print on a variety of materials, such as plastic, glass, cloth, and others. Due to their quick printing and instant drying capabilities, these printers are gaining popularity in the end-use sectors. Furthermore, newly developed UV LED printers have sophisticated capabilities, including precision, high resolution, changeable color per dot, and printing on metal and ceramic tiles. UV LED printing is also energy efficient, emits no VOCs (volatile organic compounds), and produces excellent print quality. UV delivers a more penetrating light source due to its high peak irradiation. This allows for improved thoroughness of cure and adherence of thicker films (such as screen printing) as well as dark and opaque colors (such as blacks and opaque whites). Additionally, UV LEDs heal at a consistent intensity over a long period of time, unlike mercury lamps, which must be changed every 2000 hours. UV LED printers have more color contrast than other printing technologies and can print items of various forms and sizes. As a result of its multiple benefits, it is widely employed across a wide range of end-user industries, driving market expansion. Further, the global UV LED printers market is divided on the basis of type and application. Based on type, it is subdivided into small and medium format and large-format flatbed UV printing. Based on application, the market is subdivided into commercial and signage, industrial, textile printing, and others.
Industry Demand and Market Restraints
According to OMR Research, the global market for UV LED printers is projected to grow at a CAGR of 9.5% during the forecast period. Due to the ongoing upward change in usage, printing is everywhere, from roadside posters to books and pamphlets, and therefore printing is still employed to transport or convey messages all over the world. UV printing is becoming increasingly popular as the sustainability movement gains traction since it is eco-friendly, energy-efficient, and produces long-lasting, weatherproof, and scratch-resistant images. Due to such factors, it is used in a wide variety of industries, such as pharmaceutical, textile, and others.
In the pharmaceutical industry, when various labels are printed, invisible UV inks are used. It is one of the most effective methods of preventing counterfeiting in the pharmaceutical sector. These inks are not visible to the human eye, but they can be seen when exposed to ultraviolet LEDs. The invisible UV inks give medicinal items a unique identifier, preventing counterfeiting. Due to this, the use of UV LED printing is growing in the pharmaceutical industry, and the growth of this industry will significantly affect the UV LED printing market as well. For instance, according to Statista, the overall worldwide pharmaceutical market was valued at around 1.42 trillion US dollars as of the end of 2021. This is a huge gain from 2001, when the market was valued at only $390 billion USD. Similarly, UV LED printing is used in the food industry for labels as well. Hence, the growing food industry will support the market’s growth.
Although market demand is high and growing end-user industries are relatively increasing the demand even more, the market may still face some restraints. For instance, the cost of UV LED ink is higher than conventional ink, the printing is slow, and uncured UV ink contains unreacted monomer, which is toxic to the human body; even fully cured prints may contain unreacted monomer.
Recent Developments
The key market players, such as Agfa-Gevaert N.V., Canon Inc., Direct Color Systems, Seiko Epson Corporation, FUJIFILM Holdings Corporation, GatewayUvPrinter.com, HP Inc., InkTec Co., Ltd., JHF Technology Group Co., Ltd., MeiTu Digital Industry Co., Ltd., Mimaki Engineering Co., Ltd., and others, are aiding in the market’s growth through new product launches, market expansion, and collaboration activities. Some of the recent developments in the market include:
• In January 2023, Peopoly, a Hong Kong-based 3D printer company, released the Phenom XXL V2 MSLA 3D printer with high resolution and a Vlare board. The Phenom XXL V2 is an improved version of the original XXL and Peopoly's biggest Phenom Series 3D printer. It is powered by the new Vlare Core controller and employs MSLA technology as well as an accurate parallel light source, among other features that make printing easier, quicker, and more precise. The manufacturer claims that the 3D printer has 22 times the build volume of the Formlabs Form 3.
• In October 2022, Konica Minolta Business Solutions U.S.A., Inc. (Konica Minolta), a global leader in commercial and industrial printing and packaging solutions, introduced its newest inkjet spot UV printer. The AccurioShine 3600 with the iFosil One option is driven by MGI's unique varnish technology and the dependability of Konica Minolta. The AccurioShine 3600 is a completely digital system with industry-leading AI-powered registration technology and an environmentally friendly LED curing system, all in a small package. Digital spot UV treatment gives new depth to any project, making prints stand out. With a maximum paper size of 14.3" x 29.5", the machine is ideal for upgrading regularly used prints such as business cards, greeting cards, picture book covers, and even packaging, providing clients with a powerful and distinctive print experience.