Northrook, IL -- (SBWire) -- 07/02/2020 --According to the new market research report "UV Curing System Market by Technology (Mercury Lamp, and UV LED), Type (Spot Cure, Flodd Cure & Focused Beam, and Conveyor), Pressure Type (High, Medium, and Low), Application, End-Use Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the UV Curing System Market is projected to reach USD 6.7 billion by 2025 from USD 3.3 billion in 2020; it is expected to grow at a CAGR of 15.0% during the forecast period.
Major drivers for the growth of the market are growing inclination toward eco-friendly products, greater benefits of UV curing systems than traditional curing systems; rising demand for UV LEDs due to COVID-19; and increasing adoption of UV disinfection due to COVID-19. Moreover, high-growth prospects of UV curing technology in new applications and preference for UV technologies for print label and packaging due to COVID-19 act as growth opportunities for developers of UV curing system.
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The UV LED technology segment of the UV curing system market projected to grow at a high CAGR during the forecast period.
A UV LED is a technology capable of converting electrical energy into UV light. UV LED has wavelengths of less than 400 nm and features such as compactness, superior performance, and low cost. UV light-emitting diodes (LEDs) are used in a variety of applications. Earlier, UV LED had limited applications, such as curing, counterfeit, and forensic; however, due to the developments and advancements in technology, it has more applications, such as disinfection, purification, sterilization, and medical phototherapy. Recently, UV LED curing lamps have started replacing mercury lamps in a wide range of UV curing applications.
Among application, the bonding & assembling segment projected to hold the largest share of the UV curing system market during the forecast period.
UV curing is used for the bonding and assembling application in the manufacture of LCD and touch screens. The process uses ultraviolet glue to bond the elements together. UV curing for the bonding application is highly effective on glass because of its high transparency and exceptional stability, even in harsh environmental conditions. In addition, UV curing is used for bonding materials, such as metal, glass, and plastic, as well as the assembling of printed circuit boards (PCBs). In a UV curing system, the bonding process uses UV-sensitive adhesives that cure upon exposure to energy from UV curing lamps. Bonding is a fast, flexible, long-lasting, and eco-friendly UV curing process compared with other applications. A few examples of UV curing in the bonding application, include display case construction, automotive headlamp assembly, novelty bonding, sign assembly, adhering light fixtures, and plastic package assembly.
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The UV curing system market in North America projected to hold the largest share in 2019.
The North American region is the largest market for UV curing systems with the largest share of ~36% in 2019 and is expected to lead the market for a few years. North America is home to various large—scale manufacturing industries in different sectors such as automotive, medical, and electronics, and semiconductors. These sectors are witnessing significant adoption of UV curing technology to meet the increasing demand of the market and are estimated to rise in the near future. The manufacturing facilities in the region are highly automated with high precision manufacturing with minimal time required for production. The UV curing system market in North America has been further segmented into the US, Canada, and Mexico.
Baldwin Technology (US), Dymax (US), Nordson (US), Excelitas (US), Heraeus (Germany), Phoseon (US), Honle (Germany), Ist Metz (Germany), American Ultraviolet (US), and Hanovia (UK) are a few major players in the UV curing system market.
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UV Curing System Market Worth $6.7 Billion by 2025
Get in-depth analysis of the COVID-19 impact on the UV Curing System Market