UV Curing System Market Size Worth $16.45 Billion by 2030 | CAGR: 18.9%
The global UV curing system market size is expected to reach USD 16.45 billion by 2030 according to a new study by Polaris Market Research.
There major propelling factors are such as high growth projection of UV curing system in new applications, as well as growing demand for enhanced finished product quality and uniformity leads the market growth. Besides, the growing inclination towards these technologies for packaging and print labels is also creating various lucrative opportunities for the industry demand. Furthermore, authoritarian policies associated with the adoption of lamp-based curing systems, as well as increasing concern and awareness regarding environmental protection, are also augmenting industry development.
Based on end-use, the consumer electronics segment is dominating the global market with the highest revenue shares. This technology is used for bonding & assembling goods along with quicker drying of the coating on the materials used in the consumer electronics products for the protection from the heat generated. Whereas the medical segment is showing the highest CAGR rate that leads the industry demand owing to the UV curing system environmentally friendliness and energy-efficient technology. Additionally, UV cured system is extensively adopted in sealing, coating, bonding, and repair of numerous medical devices like sensing devices, anesthesia masks, blood oxygenators, catheters, medical filters, reservoirs, connectors, and many more.
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The rising inclination for eco-friendly goods, as well as execution of the stringent government norms regarding the use of green products, is augmenting the industry growth. The conventional air-drying and heat-based curing techniques, solvents evaporated, has resulted in the emission of carbon dioxide or greenhouse gases, which leads the environmental pollutants, and negatively impact the environment and the ozone layer. Accordingly, it creates a productive demand for upgraded curing systems that do not affect the environment or ozone layers. Therefore, manufacturers and formulators have been seeking an eco-friendly alternative having similar or better performance because of raising public awareness and stringent government regulations for environmental protection, which, in turn, accelerates the industry demand globally.
Market participants such as Panasonic, APL Machinery Pvt. Ltd., Baldwin Technology, Omron Corporation, Excelitas Technologies, Shenzhen Naimeite, IST Metz, American Ultraviolet, Dymax, Phoseon Technology, Kyocera Corporation, and Jenton International are some of the key players operating in the global market. The frequent tactical movements such as mergers & acquisitions, product launches, and others by the prominent market players are also supporting the global market development. For instance, in January 2021, Dymax- partnered with new channel partner EAP, Ltd. to its distribution network.
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Polaris Market Research has segmented the UV curing system market report on the basis of technology, type, application, vertical, and region:
UV Curing System, Technology Outlook (Revenue – USD Billion, 2018 – 2030)
- UV LEDS
- Mercury Lamps
UV Curing System, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Spot Cure
- Flood & Focused Beam
UV Curing System, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Bonding & Assembling
- Coating & Finishing
UV Curing System, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Life Science & Medical
- Consumer Electronics
- Industrial & Machinery
- Aerospace & Defense
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Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.
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