According to our latest market study on "UV Curing System Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Application and End User," the market is expected to grow from US$ 2,817.2 million in 2021 to US$ 5,153.2 million by 2028; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028.
UV curing systems find extensive application in coating, bonding, and printing across major industries such as healthcare, printing, and automotive. In addition to these applications, UV curing technology is now being employed in newer ways such as 3D printing, digital printing, package disinfection, and metal coating. UV curing has emerged as the primary technology for metal coating applications, replacing plastic and wood coatings.
The North American manufacturing sector faced temporary closures of their units due to the COVID-19 outbreak, resulting in limited raw material supplies and losses for the automotive and consumer electronics sectors. As a consequence, the UV curing system market suffered from reduced demand and supply. However, with the resumption of economic activities in Q3 of 2020, the supply chain normalized, leading to increased demand for UV curing systems in North America, particularly in the US, Canada, and Mexico. Despite the pandemic's negative impact on the market, the growing demand for UV curing systems in end-user industries, such as automotive and electronics, positively affected the market.
The UV curing system market is segmented based on application, end user, and geography. Based on application, the market is segmented into bonding & assembling, disinfection, coating & finishing, and painting. By end user, the UV curing system market is segmented into automotive, healthcare, electronics, and others. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America.
Phoseon Technology, Nordson, Heraeus, Dymax, and IST Metz GmbH are key players operating in the UV curing system market. Several important market players were analyzed during this study to get a holistic view of the market and its ecosystem.
Key Findings of Study:
The APAC UV curing system market is primarily driven by the thriving manufacturing industry in the region, particularly in countries with a significant presence of electronics, automotive, and medical equipment manufacturers. These industries use UV curing systems for various applications like die attachment, wire tacking, pin attachment, and sealing and gasketing products. Furthermore, these industries also adopt UV curing solutions for coating applications, thereby increasing the demand for UV curing systems. As a result, the broad range of UV curing applications drives the growth of the market in these industries.
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