“UV curing system market projected to grow at a CAGR of 10.66% during forecast period”
According to the new market research report, the UV curing system market was valued at USD 3.28 billion in 2018 and is expected to reach USD 5.45 billion by 2023, at a CAGR of 10.66% between 2018 and 2023. The growth of this market can be attributed to environmental awareness and stringent regulations; and low curing time and better performance as compared to traditional curing systems. However, limited depth of curing is restraining the growth of the market.
“UV LED to grow at the highest CAGR for UV curing system market between 2018 and 2023”
This report covers the following technology: Mercury lamp and UV LED system. Currently, UV LED system holds a smaller share in the UV curing system market, as it is used in limited applications; however, in the coming years, the UV LED market will be driven by deployment in new applications such as purification and disinfection. UV LED consumes less energy and generates less heat compared to mercury lamps, making it the most preferred UV curing technology in the coming years.
“Construction and architecture industry to grow at a higher CAGR in UV curing system market between 2018 and 2023”
This report has been segmented, on the basis of end-user industry, into medical, consmer electronics, and construction and architecture. The construction and architecture industry is mainly driven by the increasing UV coating market across the globe. Additionally, increasing investments by government in public infrastructure such as highway joint sealing, structural bonding of bridge, and railways to cater to the needs of customized coating are fueling the demand for UV curing technologies in the construction industry.
“UV curing system market in RoW expected to grow at the highest CAGR between 2018 and 2023”
This report covers the following regions: North America, Europe, APAC, and RoW. The market in RoW is expected to grow at the highest CAGR between 2018 and 2023. The Middle East accounted for a substantial share of the UV curing system market in ROW. Increasing awareness about benefits of UV curing technology is fueling the growth of the UV curing market in RoW.
BREAKDOWN OF PROFILES OF PRIMARY PARTICIPANTS
• By Company Type: Tier 1—55%, Tier 2—25%, and Tier 3—20%
• By Designation: Directors—50%, Managers—20%, Vice Presidents—25%, and Others—5%
• By Region: North America—40%, APAC—15%, Europe—35%, and RoW—10%
Companies profiled in the report are Dymax (US), Nordson (US), Baldwin Technology (US), Heraeus (Germany), Phoseon (US), Honle (Germany), Panasonic Corporation of North America (US), Delo (Germany), IST METZ (US), and American Ultraviolet (US). This report also covers the following prominent players: Omron (Japan), Excelitas (US), Uvitron (US), Atlantic Zeiser (Germany), Benford UV (Shire county), GEW (EC) (England), Hanovia (UK), Miltec UV (US), Thorlabs (US), and Hoya (Japan).
UV curing systems are mainly used in medical, consumer electronics, and industrial verticles. UV curing system has also been segmented on the basis of type into spot cure, flood cure, and focused beam. On the basis of technology, this market has been segmented into mercury lamp and UV LED. UV curing system covers the following pressure type: high, medium, and low. This report also covers the following application: bonding and assembling; printing; coating and finishing; disinfection; and others. The market has been segmented, on the basis of region, into North America, Europe, APAC, and RoW.
Reasons to Buy the Report
• This report includes the market statistics pertaining to technology, type, application, pressure, end-user industry, and region, along with their respective revenues.
• The value chain analysis is provided with an in-depth insight into the UV curing system market.
• Major drivers, restraints, challenges, and opportunities pertaining to the UV curing system market are detailed in this report.
• Illustrative segmentation, analysis, and forecast for the UV curing system market based on application, technology, type, pressure type, end-user industry, and geography are conducted to provide an overall view of the UV curing system market.
• A detailed competitive landscape is provided for the top 5 companies, including their revenues.