The Global UV Curing System Market size is expected to reach $10.22 billion by 2027, rising at a market growth of 21.3% CAGR during the forecast period.
Curing refers to a technique that can dry coatings, inks, and adhesives. UV curing method finds many applications for the quick drying of the adhesives or coatings and lowers down the emission of the volatile organic compounds that are emitted while curing paints and adhesives. In addition, UV curing is extensively used in the coating which is one of the renowned techniques in the coating and paint market.
Over the span of many years, UV cure coating is one of the popular techniques which have been utilized for paper in brochures and magazines. In addition, the technique is also utilized as a clear coating on printed circuit boards. With an aim to protect different parts, the coating technique is highly adopted in the automotive and electronics sectors.
UV coatings are distributed in many forms such as water-based, pigmented, clear, 100% solids, solvent-based, and several gloss formulations. By utilizing technologies like adhesives, photopolymer Printing Inks, Dental Bonding, and metal Coatings, UV curing techniques become suitable for a wide range of industries.
Ultraviolet light and visible light are utilized by UV curing systems and they are utilized to begin a photochemical reaction which is further helpful to cure or dry coatings, adhesives, or inks within a very short time.
Factories, businesses, warehouses, and institutes around the world witnessed a partial or complete shutdown due to the outbreak of the COVID-19 pandemic. The situation is further deteriorated by the urgent need to follow stringent social distancing regulations, travel ban, and restricted entry to public spaces, cinema halls, restaurants, malls, and theme parks. Factors such as the shutdown of many SMEs, lockdown measures, logistic disruptions, and other issues that occurred by the COVID-19 pandemic had hampered the market growth during the pandemic. Due to the urgent need to slow down the transmission rate, regulatory bodies were forced to increase their focus and spending on the healthcare industry.
Currently, the APAC and North America are among the top regions that were most badly affected due to the cases of COVID-19 appearing time and again. Due to this, many companies have witnessed a much lower footfall of consumers as compared to the normal scenario, hence badly impacting the revenues. Thus, the demand for UV curing systems witnessed a decline during the pandemic.
Majority of the makers are using UV curing for the products encountered in a day-to-day life. The basic items such as soda cans, caps or bottles, toothpaste tubes, aerosol hairspray, lids on jars, pet food bags, magazine covers, interior car trim are most likely cured by the UV technique. UV is considered as green technology as UV chemistries such as adhesives, inks, or coatings are always 100% solids, and hence release no VOCs (cancer causing Volatile Organic Compounds) into the atmosphere. Thus, many manufacturers are moving towards this technology for its sustainability and benefits.
The demand for UV LED-based curing systems continues to rise in comparison to the traditional curing methods which utilized mercury lamps. This is because UV LED-based curing systems offer superior functionalities as compared to the other kind of curing systems like higher abrasion resistance, durability, chemical resistance, adhesion, and elasticity. In addition, the system also offers a higher operational speed of the machine and rapid drying of the product.
The utilization of UV mercury lamps is associated with a high risk of explosion because of their high-pressure gas. The explosion can cause massive or prolonged damage for the user and can also contaminate the mercury. UV curing systems can generate light radiation from UV through visible light, which can be harmful and injurious to the health of users if they work in an unprotected environment, even for some minutes. The temperature can be drastically increased due to the absence of ventilation and surfaces exposed to high-intensity curing lights which can further lead to significant burns to the user.
Based on the Application, the UV Curing System Market is divided into Printing, Bonding & Assembling, Coating & Finishing, and Others. In 2020, the bonding & assembly application segment obtained the maximum revenue share of the market and the segment would showcase a similar kind of trend even during the forecasting period. The utilization of UV light is one of the efficient bonding methods for adhesive curing. In these cases, the bond design of the assembly should allow the UV light to reach the joint. Some of the primary benefits of utilizing UV adhesive bonding in a wide range of applications are instant cure, decreased requirements for energy, affordable, and many others.
Based on the Technology, the UV Curing System Market is bifurcated into UV LEDs and Mercury Lamps. The UV LEDs segment would display the highest growth rate in the market during the forecasting period. In addition, UV LED technology would emerge as the leading segment of the UV curing system market during the forecasting period. This is attributed to the rising demand for energy-efficient LEDs and improved user experience
Based on the Verticals, the UV Curing System Market is bifurcated into Automotive, Aerospace & Defense, Industrial & Machinery, Energy, Electronics, Life Science & Medical, and Others. In 2020, the automotive segment garnered the largest market share of the UV curing market. In addition, the segment would show similar kind of trend even during the forecasting period. There is a wide array of functional and aesthetic applications in automotive manufacturing where UV curing of inks, coatings, and adhesives is utilized.
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 2.3 Billion |
| Market size forecast in 2027 | USD 10.22 billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 21.3% from 2021 to 2027 |
| Number of Pages | 235 |
| Number of Tables | 393 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Application, Technology, Vertical, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on the Region, the UV Curing System Market is analyzed across North America, Europe, APAC, and LAMEA. The Asia-Pacific would exhibit the highest growth rate over the forecast years. In addition, China is anticipated to be the dominating country in the APAC region. Due to the benefits of these systems as compared to the traditional adhesive systems, the adoption of UV-curable adhesives in the packaging industry is rising at a drastic rate in the nation.
Free Valuable Insights: Global UV Curing System Market size to reach USD 10.22 billion by 2027
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Panasonic is the major forerunners in the UV Curing System Market. Companies such as Kyocera Corporation, Omron Corporation, and Dymax Corporation are some of the key innovators in the Market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Omron Corporation, Panasonic Corporation, Nordson Corporation, Kyocera Corporation, Thorlabs, Inc., Excelitas Technologies Corp., American Ultraviolet, IST Metz GmbH, Dymax Corporation, and Heraeus Holding GmbH.
By Application
By Technology
By Verticals
By Geography
The UV curing system market size is projected to reach USD 10.22 billion by 2027.
High preference for sustainable products, and strict norms are driving the market in coming years, however, harmful effects associated with the mercury in UV mercury lamps limited the growth of the market.
Omron Corporation, Panasonic Corporation, Nordson Corporation, Kyocera Corporation, Thorlabs, Inc., Excelitas Technologies Corp., American Ultraviolet, IST Metz GmbH, Dymax Corporation, and Heraeus Holding GmbH.
The expected CAGR of the UV curing system market is 21.3% from 2021 to 2027.
The UV LED market dominated the Global UV Curing System Market by Technology 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $7,682.4 million by 2027, growing at a CAGR of 22.1% during the forecast period.
The Asia Pacific market dominated the Global UV Curing System Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3,801.5 million by 2027.
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