Dublin, Dec. 15, 2021 (GLOBE NEWSWIRE) -- The "UV Curing System Market with Covid-19 Impact Analysis by Technology (UV LED, Mercury Lamp), Type (Spot Cure, Flood and Focused Beam, Conveyor), Pressure Type (High, Medium, Low), Application, Vertical and Geography - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The UV curing system market is projected to reach USD 8.6 billion by 2026 from USD 3.6 billion in 2021; it is expected to grow at a CAGR of 18.6% from 2021 to 2026.
The growth of the UV curing system market in North America is mainly driven by large-scale funded programs by the government. Moreover, the high adoption rate and technological advancements also drive the growth of the UV curing system market in North America.
The North American region is the largest market as the region is home to major players in the market such as Dymax (US), Phoseon (US), and Baldwin Technology (US). Stringent regulatory framework by agencies such as EPA (Environment Protection Agency) and the American Industrial Hygiene Association (AIHA) is playing a key role in the monitoring and commercialization of UV curing technology.
The large share enjoyed by the region is due to the vast presence of various large-scale automotive and medical machinery manufacturers. The outbreak of the novel coronavirus is expected to affect the UV curing system market, but a steady recovery is expected by 2022.
The expansion of the market is due to the rising demand from the semiconductor & electronics industry as well as from the medical sector. Developing countries in APAC have vast growth potential as well as a favorable environment for product manufacturers. Therefore, the UV curing system market in APAC is expected to grow at the highest rate during the forecast period.
The UV LED technology segment, is expected to have the highest growth during the forecast period.
UV LED technology is expected to dominate the UV curing system market during the forecast period due to the increase in demand for energy-efficient LEDs and enhanced user experience. UV LEDs have a longer life span than mercury lamps and are environmentally friendly. Apart from these, UV LEDs do not use mercury, which harms health and causes life-threatening diseases. North America is expected to be the largest market for UV LED during the forecast period.
This is due to its features such as instantaneous switching on and off, fast and uniform drying and curing, low heat emission, and low power consumption. North America adapts and changes quickly with the latest technologies and needs. The increased demand for UV LED is due to the increase in awareness of green energy and its minimal power consumption.
The bonding & assembling application segment, of the UV curing system market, is projected to hold a larger share during the forecast period.
The bonding & assembling segment accounted for the largest share of the UV curing system market in 2020, whereas the printing segment is expected to grow at the highest CAGR during the forecast period. UV LED is used for printing purposes. Benefits of using UV LED in printing are faster drying, eco-friendly, material versatility, color enhancement, and high-quality finishing. UV curing uses light instead of heat when drying.
The UV LED segment is expected to grow at a higher CAGR during the forecast period. This high growth can be attributed to increased awareness of energy consumption and green energy. UV LED uses 50-70% less energy than mercury lamps.
The UV curing system market in APAC is projected to have the highest CAGR during the forecast period (2021-2026).
The UV curing system market in APAC comprises China, Japan, South Korea, India, and the Rest of APAC, which primarily includes Australia, Taiwan, Thailand, Indonesia, Singapore, Malaysia, the Philippines, and New Zealand. It is expected to be the fastest-growing market for UV curing systems during the forecast period. China is expected to be the largest market for UV curing systems and is also expected to witness the highest CAGR during the forecast period.
Premium Insights
- Increase in Consumer Electronics to Support Market Growth
- Spot Cure Segment to Have Largest Market Share, 2021-2026
- Mercury Lamp Technology and China to Account for Largest Share in Asia-Pacific by 2026
- China to Record Highest CAGR, 2021 to 2026
Market Dynamics
Drivers
- Growing Inclination Toward Eco-Friendly Products and Stringent Regulations Regarding the Use of Green Products
- Benefits of UV Curing Systems Than Traditional Curing Systems
- Rising Demand for UV LEDs Across Industries due to COVID-19
Restraints
- Limited Depth of Curing
- Lack of Awareness and High Cost of UV Coatings
Opportunities
- Increasing Applications of UV Curing System
- Preference for UV Technologies for Print Labeling and Packaging due to COVID-19
Challenges
- Risks Related to Hazardous Effects of Mercury Present in UV Mercury Lamps
- Slowdown in Production of Manufacturing Industries due to COVID-19
- Cracking Defects on UV Curable Coating Products
Case Study Analysis
- UV Curing System for Nasal Swabs: Dymax Uvcs Light-Curing Conveyor Systems Helped to Increase the Production of Nasal Swabs
- UV Curing System for Camera Modules: Case Study on Using Ultraviolet Cure to Secure a Camera Module Holder to a Pcb
- UV Curing System for Industry: Improving Wpg's Komori Ls829P with UV Curing
- UV Curing System for Polyjet: Improving Printing Cycles and Accuracy with UV Curing System
Patent Analysis
- UV Curing System by Henkel AG and Co KGaA
- UV Curing Type Ink Jet Printing Ink Composition
- UV Curing System by Henkel AG and Co KGaA
- Document Type
- Patents Filed
- Patents: Applications Vs. Granted, 2011-2020
- Publication Trend
Patents Filed from 2011 to 2020 - Jurisdiction Analysis
- Top Patent Owners
- Top 10 Companies with Published Patent Applications, 2011-2020
- Top 20 Published Patent Owners in the Last 10 Years
Company Profiles
Key Players
- Dymax
- Nordson
- Heraeus
- Phoseon Technology
- Ist Metz GmbH
- Baldwin Technology
- American Ultraviolet
- Hanovia
- Excelitas Technologies
- Honle
Other Key Players
- Omron Corporation
- Uvitron
- Atlantic Zeiser
- Benford Uv
- Miltec Uv
- Thorlabs
- Uvexs Incorporated
- Gew (Ec) Limited
- Delo
- APL Machinery Pvt. Ltd.
- Kyocera Corporation
- Senlian
- Panasonic
- Doctoruv
- Shenzhen Naimeite
- Jenton International
For more information about this report visit https://www.researchandmarkets.com/r/8cy527
