UV Curing System Market

Report Scope & Overview:

UV Curing System Market Size was valued at USD 4.39 billion in 2022 and is expected to reach USD 17.57 billion by 2030, growing at a CAGR of 18.9% over the forecast period 2023-2030.

The UV curing system is a process in which ultraviolet light and visible light are used to initiate photochemical reactions to quickly treat dry or sticky ink, coatings, or adhesives. UV curing is a process of low temperature that is beneficial for treatment by performing polymerization instead of evaporation, lowering levels, promoting incomparable grip, increasing production speed, and improving scratch and dissolvable protection.

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The UV curing system does not cause environmental pollution, there is no dissolving solvent, coating thickening, and volume reduction. It adapts to the design, decoration, printing, and integration of a wide range of products and materials. This effect on energy consumption is high during the short term as well as reduced waste and pollutant emissions.

MARKET DYNAMICS:

KEY DRIVERS:

• UV curing systems have several advantages over traditional curing systems.

• Growing consumer preference for eco-friendly products, as well as stringent regulations governing the use of green products.

RESTRAINTS:

• UV coatings are not widely known and are expensive.

• Limited depth of curing.

OPPORTUNITIES:

• COVID-19 has resulted in a preference for UV technologies for print labeling and packaging.

• UV curing system applications are expanding.

CHALLENGES:

• Cracking defects in UV-curable coating products.

• The hazardous effects of mercury present in UV mercury lamps pose risks.

IMPACT OF COVID-19: 

To put an end to the spread of COVID-19, various governments have closed the day-to-day operations of the business by imposing a full closure. Staff shortages and delays in project completion are just a few of the factors that hinder the forecast of a global UV curing market leading to a decline in production. The global market has had a major impact due to the outbreak of the disease. New projects around the world are stagnant, with great product demand. Global factories have struggled to make and assemble new equipment as workers have been living in their homes and even equipment already available in various warehouses cannot be moved due to current laws and regulations, which have disrupted a global supply chain. The impact of COVID-19 on this market is temporary as production and supply have stalled. Once the situation improves, the production, supply of goods, and demand for these products will gradually increase. This is expected to give companies the opportunity to think about ways to increase productivity, research technology, and develop current products. The key Companies are taking the first step in introducing a new type of production line as they follow social distances.

Based on Technology, the UV curing system market is segmented into Mercury Lamps and UV LEDs.

UV LED technology is expected to dominate the UV curing system market during forecasting due to increased demand for efficient LEDs and improved user experience. UV LEDs have a longer shelf life than mercury lamps and are not environmentally friendly. Apart from this, UV LEDs do not use mercury, which is harmful to health and causes life-threatening illnesses. North America is expected to be the largest market for UV LED at the time of forecasting. This is due to its features such as immediate opening and closing, rapid and uniform drying and treatment, low-temperature emissions, and low power consumption. North America is flexible and rapidly changing with the latest technology and needs. The increase in demand for UV LEDs is due to increased green energy awareness and low energy consumption.

Based on Application, the UV curing system market is segmented into Printing, Coating & Finishing, Bonding & Assembling, and Others.

The bonding & assembling segment had the largest share of the UV curing system market, and the printing segment is expected to grow at a much higher CAGR at the time of forecasting. UV LED is used for printing purposes. The advantages of using UV LED in printing are fast dryness, eco-friendly, material flexibility, color enhancement, and high-quality finish. UV curing uses light instead of heat when dried. It only takes a few seconds to harden adhesives, inks, or adhesives that have been used. This is much better than traditional and outdated printing methods as old technology made coatings less than half, so they were not very kind to the environment. The UV LED component is expected to grow at a higher CAGR during the forecast period. This high growth could be due to increased awareness of energy consumption and green energy.

MARKET SEGMENTATION:

BY TYPE

• Flood & Focused Beam

• Spot Cure

• Conveyor

BY PRESSURE TYPE

• High

• Medium

• Low

BY TECHNOLOGY

• Mercury Lamps

• UV LEDS

BY INDUSTRY VERTICAL

• Life Science & Medical

• Industrial & Machinery

• Automotive

• Marine

• Construction

• Consumer Electronics

• Semiconductor

• Aerospace & Defense

• Energy

• Others

BY APPLICATION

• Printing

• Coating & Finishing

• Bonding & Assembling

• Others

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REGIONAL ANALYSIS:

APAC's UV curing system market includes China, Japan, South Korea, India, and the entire APAC, which includes mainly Australia, Taiwan, Thailand, Indonesia, Singapore, Malaysia, Philippines, and New Zealand. It is expected to be the fastest-growing market for UV curing at the time of forecasting. China is expected to be the largest market for UV curing systems and is expected to witness the highest CAGR at the time of forecasting. Because of the advantages over standard adhesive systems, the use of UV-curing adhesives in the packaging industry is rapidly expanding in the country. Demand from industries, such as consumer goods, food and beverages, and other packaging, is increasing in China, due to increased exports, and domestic consumption. China had the largest share of 49% in the APAC UV curing system market by 2020 due to increased production activities and exports of UV curing systems from the country. Countries such as China, Japan, India, and South Korea play a major role in the growth of the UV market for the APAC curing system. China and Japan are considered to be the first users of UV technology in the electronics industry. The potential for market growth of the APAC UV curing system promises a strong growth rate in the near future. The COVID-19 epidemic has hit the APAC market. However, strong resilience by 2021 is expected, with significant potential for market growth. The growing demand and the implementation of policies that include pollution control and eco-friendly products have led to new developments and developments in the UV curing industry.

REGIONAL COVERAGE:

• North America

  • USA

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • The Netherlands

  • Rest of Europe

• Asia-Pacific

  • Japan

  • South Korea

  • China

  • India

  • Australia

  • Rest of Asia-Pacific

• The Middle East & Africa

  • Israel

  • UAE

  • South Africa

  • Rest of the Middle East & Africa

• Latin America

  • Brazil

  • Argentina

  • Rest of Latin America

COMPETITIVE LANDSCAPE:

The key players in the UV Curing System market are Panasonic, Baldwin Technology, DELO, Omron Corporation, UVEXS Incorporated, Limited, Nordson, Heraeus, American Ultraviolet, Thorlabs, GEW, Senlian & Other Players