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.
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.
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.
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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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
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.
Omron Corporation-Company Financial Analysis
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 4.39 Billion |
| Market Size by 2030 | US$ 17.57 Billion |
| CAGR | CAGR of 18.9% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • 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 & Defesnse, Energy, Others) • By Application (Printing, Coating & Finishing, Bonding & Assembling, Others) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, 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 Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Panasonic, Baldwin Technology, DELO, Omron Corporation, UVEXS Incorporated, Limited, Nordson, Heraeus, American Ultraviolet, Thorlabs, GEW, Senlian and other key players. |
| 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. |
The market value will be expected to reach USD 17.57 billion by 2030.
UV curing systems have several advantages over traditional curing systems, and Growing consumer preference for eco-friendly products, as well as stringent regulations governing the use of green products.
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 and other key players.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of Ukraine-Russia War
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. UV Curing System Segmentation, by type
8.1Introduction
8.2 Flood & Focused Beam
8.3 Spot Cure
8.4 Conveyor
9. UV Curing System Segmentation, by pressure type
9.1 Introduction
9.2 High
9.3 Medium
9.4 Low
10. UV Curing System Segmentation, by technology
10.1 Introduction
10.2 Mercury Lamps
10.3 UV LEDS
11. UV Curing System Segmentation, by industry vertical
11.1 Introduction
11.2 Life Science & Medical
11.3 Industrial & Machinery
11.4 Automotive
11.5 Marine
11.6 Construction
11.7 Consumer Electronics
11.8 Semiconductor
11.9 Aerospace & Defesnse
11.10 Energy
11.11 Others
12. UV Curing System Segmentation, by application
12.1 Introduction
12.2 Printing
12.3 Coating & Finishing
12.4 Bonding & Assembling
12.5 Others
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14.Company Profiles
14.1 Panasonic
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 Baldwin Technology
14.3 DELO
14.4 Omron Corporation
14.5 UVEXS Incorporated
14.6 Limited
14.7 Nordson
14.8 Heraeus
14.9 American Ultraviolet
14.10 Thorlabs
14.11 GEW
14.12 Senlian
14.3 Others
15.Competitive Landscape
15.1 Competitive Benchmark
15.2 Market Share analysis
15.3 Recent Developments
16.Conclusion
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