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UV Curing Systems Market to Grow at 9.6% CAGR to Reach US$ 2,409.8 Mn by 2025 Led by Key Players Air Motion Systems, American Ultravoilet, Dynmax Corporation, Excelitas Technologies Corp
The Global UV Curing System Market is expected to reach US$ 2,409.8 Mn by 2025
The UV curing system market has experienced significant growth and adoption rate in the past few years and is expected to experience notable growth and adoption in years to come. UV Curing systems use UV LED as the means for providing heat and curing the materials such as adhesives, paints, and coatings. Earlier curing systems used mercury lamp as a means for providing heat during the curing process. But the mercury lamps had some disadvantages which led to technological advancements in the market and the adoption of LED in the curing process. Within this market, various regions are observed to exhibit different growth trends. Asia Pacific hold the largest share of the total market. While the regions such North America and Middle East & Africa (MEA) are expected to exhibit high growth along with the increasing growth in Asia Pacific region. Asia Pacific region in global UV curing system market is expected to witness a CAGR growth rate of 10.3% in the coming years.
The top companies operating in the UV curing system market include Air Motion Systems, Inc., American Ultravoilet, Inc., Dynmax Corporation, Excelitas Technologies Corp, Hanovia Limited, Heraeus Noblelight America LLC, IST METZ GmbH, Jenton International Ltd., Nordson Corporation, and Phoseon Technology among others.
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Key findings of the study:
• From a growth perspective India in Asia-Pacific region is anticipated to witness the most lucrative CAGR growth rate of 11.2% during the forecast period.
• Electronics segment in end user type segment is estimated to grow at a significant CAGR from 2018 – 2025.
• Bonding & assembling segment captured the global UV curing system market in 2017 and is also expected to dominate the market throughout the forecast period.
The reports cover key developments in the UV Curing Systems Market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market payers from UV Curing Systems Market are anticipated to lucrative growth opportunities in the future with the rising demand for UV Curing Systems Market in the global market.
The end user segment in UV curing system market include into automotive, healthcare, electronics, and other end-users such as aerospace, wood products, graphic & arts, packaging, construction, and others. Due to the advantages provided by the UV curing system over the conventional mercury lamp curing system, it is used in a wide variety of applications where bonding, coating, or printing are done. UV curing in the electronics sector is used for the bonding & assembling of the products used in the electronics segment as well as the faster drying of the coating of the parts in the consumer electronics products for the protection from the heat generated The electronics segment in the UV curing system market is expected to surge at an exponential rate during the forecast period.
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The report also provides the market size and estimates a forecast from the year 2019 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America providing an exhaustive PEST analysis for all five regions after evaluating political, economic, social and technological factors affecting the UV Curing Systems Market.
GLOBAL UV CURING SYSYEM MARKET – SEGMENTATION
BY APPLICATION
• Bonding & Assembling
• Coating & Finishing
• Printing
BY END-USER
• Automotive
• Healthcare
• Electronics
• Others
BY GEOGRAPHY
• North America
• Europe
• Asia Pacific (APAC)
• Middle East & Africa (MEA)
• South America (SAM)
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