UV Curing System Market Competitive Landscape, Insights by Geography, and Growth Opportunity

The burgeoning consumption of packaged foods, on account of the booming population, rising urbanization rate, mounting disposable income of people, and flourishing e-commerce sector will augment the adoption of ultraviolet (UV) curing technologies in the food and beverage sector in the coming years. Since UV curing systems are ideal for use in adhesive, printing, and coating applications without compromising the quality and safety of the food products, they are being increasingly deployed in the packaging of food products and beverages. Additionally, the usage of such systems in the food and beverage sector also facilitates the food and beverage production process.

Get Free Sample Pages: https://www.psmarketresearch.com/market-analysis/uv-curing-system-market/report-sample

Moreover, the surging adoption of the UV light-emitting diode (LED) technology for manufacturing consumer electronic products, such as tablets, TVs, and mobile phones, will drive the UV curing system market at a CAGR of 8.8% during the forecast period (2019–2024). The market revenue stood at $1.4 billion in 2018 and it is expected to reach $2.4 billion by 2024. The increasing preference for UV LED systems can be attributed to their various beneficial traits such as lower operational costs, low power consumption, and faster curing than that offered by the conventional UV systems.

Additionally, the furniture manufacturing sector is also deploying UV curing systems for curing the coatings on substrates, such as wood, for providing high-quality finishing and reducing the drying time. Owing to these advantages, the usage of such systems helps in improving the productivity of furniture manufacturing units worldwide. The application of UV-cured coatings on substrates offers protection against external agents, such as accidental chemical spills, corrosion, and moisture. Thus, the burgeoning demand for furniture, primarily on account of rapid urbanization, will propel the deployment of UV curing systems in the coming years.

Make Enquiry Before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=uv-curing-system-market

According to P&S Intelligence, Asia-Pacific (APAC) accounted for the largest share in the UV curing system market in 2018, due to the flourishing automotive and electronics industry and soaring demand for UV curing systems for use in plastic, wood, and metal finishing applications in the region. Moreover, the escalating demand for consumer electronics in India, Thailand, Vietnam, and Indonesia, primarily on account of the rising disposable income of people, also contributes to the market growth in the region. Owing to such factors, the region will also demonstrate the fastest growth in the forecast years.

Therefore, the increasing preference for packaged goods, rising furniture sales, rising penetration of consumer electronics will create a huge requirement for UV curing systems in the foreseeable future.

About Us:
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

Contact Us:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

This release was published on openPR.