UV Curing System Market to hit US$ 5,153.2 million, Globally, by 2028 at 9.0% CAGR: The Insight Partners
According to our latest market study on “UV Curing SystemMarket Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application and End User,” the market is expected to grow from US$ 2,817.2 million in 2021 to US$ 5,153.2 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028.
UV LED-based curing systems have better properties than the other curing systems, such as better abrasion resistance, durability, elasticity, adhesion, and chemical resistance. Hence, the demand for UV LED-based curing systems is increasing over conventional curing systems that use mercury lamps. These systems also provide a better operational speed of the machine and faster drying of the product. The UV curing systems also reduce the emission of the volatile organic compounds (VOCs) released during painting, coatings, inks, adhesives, and similar materials. Hence, these systems are highly adopted in a wide variety of applications such as furniture, automotive, healthcare, and electronics.
UV LED curing is mostly utilized in graphics applications such as digital inkjet printing, screen printing, sheetfed offset printing, and flexo printing. These industries are quickly expanding, with sheetfed offset printing experiencing the most rapid expansion. Optical fiber coating, electronics, wood coating, and gel nail applications have also adopted UV LED curing solutions over the years. Furthermore, UV LED curing provides many advantages over other conventional curing methods. UV LED curing uses arc lamps or microwaves, enables the use of 100% solid formulations, and provides quick curing with no thermal heating/ovens, faster production speeds, and a smaller footprint. These features are also responsible for the increase in the use of UV LED-based curing, thereby driving the demand for UV curing systems
Phoseon Technology, Nordson, Heraeus, Dymax, and IST Metz GmbH are some of the key market players operating in the global UV curing system market. The listing of key players is derived by considering multiple factors such as overall revenue, current UV curing system product portfolio, geographical reach, new product launches, market initiatives, and investment in technology up-gradation, partnerships, and other market-related activities. In addition to these players, there are several other important players operating in the UV curing system ecosystems which were studies analyzed during the course of this market research study, such as Excelitas Technologies Corp, AMS Spectral UV, Jenton Group, American Ultraviolet, and Hanovia-UV. Most of the market initiatives were observed in the North America and Europe region, which have a high potential for market-related products, solutions, and services. A few of the important market initiatives from the industry are mentioned below:
Heraeus Noblelight launched infrared and UV technology for future-proof coating solutions at the PaintExpo trade fair in Karlsruhe in April
Excelitas Technologies Corp. recently launched its next-generation spot UV curing system, the OmniCure S2000 Elite.
UV Bonding & Assembling Fuel Growth of UV Curing System Market
UV bonding and assembling is a process used for glass, metal, and plastic bonding purposes and assembly of printed circuit boards (PCB). The bonding used in this process uses ultraviolet-sensitive adhesives that are applied to products and exposed to energy from UV curing lamps for curing. UV curing makes the process faster, more flexible, long-lasting, and environmentally friendly than other processes.
UV LED curing method reduces the emissions of volatile compounds. Therefore, the demand for UV curing systems using LED increased in various verticals, which is driving the growth of the market. However, limited depth curing may act as a restraint in the growth of the UV curing system market.
The rise in demand for PCB from various industries, such as electronics and automotive, influences the rise in demand for PCB across the globe. Manufacturers of consumer electronics, wearable gadgets, such as smartwatches that contain chips and flexible sensors, are seeing new prospects owing to the Internet of Things (IoT). Breakthroughs in device design and manufacturing technology are having a favorable impact on PCB production across the world. Thus, the rise in PCB production is propelling the demand for bonding & assembling processes from the manufacturers. Additionally, demand for glass bonding is expected to increase in end-use sectors such as electronics, furniture, and transportation, which would fuel the market growth for the UV bonding and assembling application segment during the forecast period.
The other segment in the UV curing system market includes food & beverage, manufacturing, packaging, wood, and others. The UV curing system is used in these applications for different purposes such as bonding & assembling, disinfection, and printing. The advanced features provided by the UV curing systems over the conventional curing system is leading various companies to opt for this system as the curing method for faster drying. These reasons will support the growth of UV curing systems currently and in the coming years. For instance, UV curing systems in the food and Bev average in industries is increasing used for disinfecting contaminated ground and surface water. They are also actively used for treating food and packaging material that pass through conveyor belts to ensure the safety of the product before reaching the ultimate consumer. These factors are propelling the demand for UV curing systems among the food & beverage industry over the years. Additionally, the rise in the adoption of UV curing systems for bonding applications across the wood industry owing to its fast dry nature is further propelling the growth of the market.
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