UV Curing System Market Size, Share, Growth, and Industry Analysis, By Type ( Portable, Desktop, and Large Fixed ), By Application (Electronics, Automotive, Printing Industry Building Industry, and Others ) and Regional Insights and Forecast to 2031

Updated On: 29 April 2024

UV CURING SYSTEM MARKET REPORT OVERVIEW

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The global UV curing system market size was USD 1041.8 million in 2019 and will touch USD 1278.4 million by 2026, exhibiting a CAGR of 4.4% during the forecast period.

A UV curing system is an approach that employs UV radiation to instantly fix or dry coatings, inks, adhesives, and other materials. The procedure uses UV radiation to induce a photochemical reaction in light-sensitive materials, resulting in a rapid transition from a liquid or gel to a solid state. This curing method has various advantages over previous procedures, such as shorter production times, higher quality, and a lower environmental effect.

It is widely used in the printing industry to dry inks on an array of substrates, including paper, plastic, and metal. This is particularly crucial for applications such as labelling, packaging, and commercial printing. UV curing is used in the production of electronic components and devices. It aids in the bonding and encapsulating of components, guaranteeing efficient and dependable manufacturing operations. UV LED curing systems have gained popularity in the market due to their higher energy efficiency, longer lifespan, and lower environmental effects when compared to traditional mercury vapour lamps.

COVID-19 Impact: Market Growth Increased by Pandemic due to Surge in Need of Hygiene

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The COVID-19 epidemic has had various impacts on the UV curing system market. Some sectors, such as healthcare, packaging, and electronics, saw growing demand for these systems, driven by the necessity for speedy and effective disinfection procedures, the expansion of e-commerce packaging, and the continued relevance of electronics manufacturing. Furthermore, increased awareness of UV technology as an effective technique of sterilisation and disinfection aided in its adoption in a variety of businesses as part of COVID-19 response efforts. The overall impact varied by industry and area, with some sectors experiencing temporary setbacks and others seeing increased adoption of UV curing technologies.

LATEST TRENDS

"Increasing Technology Adoption Leads to Market Growth"

Some trends in the UV curing market included the increasing adoption of UV LED technology for its energy efficiency and environmental friendliness, the expansion of applications in 3D printing and digital printing technologies, and the integration of smart and IoT-enabled features in UV curing equipment for better control and monitoring. The market has also seen an increasing emphasis on sustainability and ecologically friendly production processes, which is encouraging innovation in UV formulations with lower volatile organic compounds (VOCs). Furthermore, advances in UV curing for flexible packaging, in addition to the development of new materials for UV-curable inks and coatings, were gaining popularity.

UV CURING SYSTEM MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized as Portable, Desktop, and Large Fixed

• Portable:  Portable systems are compact and mobile, designed especially for on-the-go applications, giving flexibility and convenience in many industries.

• Desktop: Desktop systems give a balance between portability and stability, suitable for small-scale production and laboratory settings where space efficiency is critical.

• Large Fixed: It is designed for industrial-scale applications, giving high throughput and consistent curing performance for large batches of materials in manufacturing environments.

By Application

Based on application the global market can be categorized into Electronics, Automotive, Printing Industry, Building Industry, and Others.

• Electronics: It is used for curing adhesives and coatings in the production of circuit boards and electronic components due to their precision and speedy curing capabilities.

• Automotive: It play an important role in the curing of coatings, adhesives, and sealants, ensuring efficient and high-quality manufacturing procedures.

• Printing Industry: It helps quick and precise curing of inks on various substrates, enhancing print quality and enabling faster production in applications.

• Building Industry: It is used for curing coatings and adhesives, offering fast curing times and contributing to the efficiency of construction and assembly processes.

DRIVING FACTORS

"Need for Effective Curing Solutions lead to the Market Growth"

There are many factors that influence the impact of the UV curing system market growth. Several significant factors boost the UV curing system market, contributing to its expansion and acceptance throughout industries. The requirement for rapid and effective curing solutions has been a primary driving force, particularly in manufacturing processes that require quick turnaround times. It provides substantial advantages in terms of curing speed, allowing for better production throughput while minimising downtime.

"Need for Environmental Friendly Practices Accelerate the Market Growth"

The increasing recognition and adoption of environmentally friendly practices has accelerated the use of UV curing technologies. These systems often produce lower emissions and use formulations that contain little or no volatile organic compounds (VOCs), which aligns with global initiatives to promote environmentally friendly production. As industries such as printing, electronics, automotive, and packaging aim to improve efficiency and decrease environmental impact, these curing systems have become an essential component of modern manufacturing processes, pushing the market ahead.

RESTRAINING FACTORS

"High Initial Investment Impede Market Growth"

Several factors can affect the UV curing system market share. One specific challenge is the initial high capital investment required for implementing UV curing technology, including the purchase of UV lamps or LED systems and related equipment. This cost can be a burden for small and medium-sized enterprises (SMEs) looking to adopt this curing systems. Additionally, concerns about potential health and safety issues associated with UV radiation exposure pose challenges, necessitating strict adherence to safety protocols and regulatory standards.

FRACTIONAL HP MOTOR MARKET REGIONAL INSIGHTS

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"North America is Dominating the Market due to Oil Scarcity"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Geographically, North America had the highest market share in the global market. The increasing demand for electric vehicles, along with the presence of major competitors, is driving market expansion across the area. As a result of the scarcity of oil supplies and increased demand for petrol, the regional administration is encouraging the purchase of electric vehicles by providing incentives and discounts. As a result, the increasing acceptance of this curing systems across a wide range of sectors is driving market growth in North America.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The UV curing system market includes several important industry players who contribute to its growth and innovation. These companies are noted for their diverse product offerings, technological innovations, strategic collaborations, and global reach. They play an important role in promoting the use of these curing systems in a variety of industries, providing solutions that satisfy the changing needs of manufacturers wanting efficient and sustainable curing processes.

List of Market Players Profiled

• IST METZ (Germany)
• Heraeus (Germany)
• GEW (U.K.)
• Hönle Group (Germany)
• Phoseon (U.S.)
• Nordson Corporation (U.S.)
• Miltec (U.S.)
• AMS (U.S.)
• Panasonic (Japan)
• Kyocera (Japan)

INDUSTRIAL DEVELOPMENT

November 2022: Heraeus Holding has announced that it will relocate its production and research facilities from Cambridge Science Park to Northstowe, North Cambridge. With this shift, the company aims to meet the growing market demand for its flashlamps and flash systems. This is projected to help the company in the global UV curing system market.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence the online advertising market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.