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UV Curing System Market By Type (UV LED, Mercury Lamp), Application (Bonding & Assembling, Printing, Disinfection, Coating, and Others), and Industry Vertical (Chemical & Petrochemical, Oil & Gas, Energy & Power, Automotive, Food & Beverages, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

A09966
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Jun 2021 | 310 Views
 
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UV Curing System Market Outlook - 2027

The global UV curing system market is experiencing significant growth and is expected to grow considerably in the next few years. UV curing systems is a process in which ultraviolet and visible light are used to initiate a photochemical reaction to instantly cure or dry inks, adhesives or coatings. UV curing is a low-temperature speed process that benefits in curing by polymerization rather than evaporation, decreasing dismiss rates, encourage unrivalled holding, increasing production speed, and enhancing scratch & dissolvable protection.

UV curing system creates no ecological pollutants, no dissolvable to dissipate, covering thickness, and volume loss. It is adaptable to coating, decorating, printing, and assembling of a variety of products and materials. This outcome in energy utilization is higher within a short span of time along with decrease in waste and pollutant emissions.

The global UV curing system market is segmented on the basis of type, application, industry vertical and region. Based on type, the market is divided into UV LED, mercury lamp. In terms of application, the market is categorized into bonding & assembling, printing, disinfection, coating, and others. In terms of industry vertical, the UV curing system market is segregated into chemical & petrochemical, oil & gas, energy & power, automotive, food & beverages, healthcare, others. Geographically, the market is analyzed across several regions such as North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).

Key players operating in the global UV curing system industry include Jiangsu Sanmu Group Corporation, BASF SE, Nippon Gohsei, Wanhua Chemical Group Co. Ltd., DSM AGI Corporation, and Toagosei Co. Ltd.. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to strengthen their foothold in the global UV curing system market.

Market Scope and Structure Analysis

Report Metric

Details

Market Size Available For Years

2019–2027

Base Year Considered

2019

Forecast Period

2020–2027

Forecast Unit

Value (USD)

Segments Covered

Type, Application, Industry Vertical, and Region

Regions Covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa)

Companies Covered

Jiangsu Sanmu Group Corporation, BASF SE, Nippon Gohsei, Wanhua Chemical Group Co. Ltd., DSM AGI Corporation, and Toagosei Co. Ltd.

 

COVID-19 Scenario Analysis

  • To subdue the spread of COVID–19, respective governments have shutdown day-to-day business operations by implementing a full-scale lockdown. Labor shortages and delays in project completion are a few factors hampering the global UV curing system market forecast resulting in a decline in production.
  • The global market has been significantly impacted by the outbreak. New projects throughout the world have stalled, which have significant demand for the product.
  • The global factories have struggled to manufacture and assemble new devices as workers have stayed in their homes and even the already available devices in various warehouses cannot be transported due to current rules & regulations, which disrupted the global supply chains.
  • The impact of COVID-19 on this market is temporary as just the production and supply chain is stalled. Once the situation improves, production, supply chains, and demand for these products are gradually going to increase.
  • This is expected to provide opportunities for companies to think about ways of increasing production, research about technologies, and improve current products.
  • Companies take the initiative to introduce a new type of production line where they follow social distancing.

Top Impacting Factors

This growth can be attributed to the inclination toward environment-friendly products along with strict regulations regarding the use of green products and high performance & increased speed of UV curing systems than traditional curing systems. The global UV curing system market is anticipated to witness progressive growth in the coming years due to the requirement of less equipment energy and space as there is no need to wait for the product to get dry. This helps in generating an efficiency that exists through the entire manufacturing process However, limited depth of curing could hamper the growth of the global market.

Increasing Demand for UV LED Driving the UV Curing System Market Growth

The demand for UV LED based curing systems is growing over the conventional curing systems, which use mercury lamps. This is attributed to the fact that UV LED-based curing systems provide better properties than other types of curing systems such as better durability, abrasion resistance, elasticity, adhesion, and chemical resistance. The system also delivers better operational speed of the machine as well as faster drying of the product. 

The UV curing system also reduces the emission of volatile organic compounds (VOC) released during coatings, printing inks, adhesives, and similar materials making it one of the main reason for the high acceptance of UV cured coating systems in a wide variety of applications such as furniture, healthcare, automotive, electronics, and others. Therefore, swelling demand for UV LED-based curing system among various industries is bolstering the UV curing system market.

Surge in Usage in Automotive and Industrial Applications 

UV curing technologies are widely used in the healthcare industry. In terms of medical equipment, UV curing is of great use as it does not emit any harmful solvents, thereby keeping the patients safe. UV curing system also contributes to protecting the environment as it has low power consumption. It is widely used in medical equipment such as cannulas, syringes or oxygen masks. It has a tendency of allowing a variety of components to bond more efficiently in a reproducible manner. 

The growing demand for low-power high-output (LPHO) lamps is expected to further drive the UV curing system market. UV curing systems in bonding and assembling application are used to bond or stick materials, such as plastic, glass, and metals, in semiconductor and consumer electronics industries. The demand for UV curing systems for bonding and assembling is growing due to its flexible, fast, and environment-friendly curing method.

Key Segments Covered

Segments

Sub-Segments

  Type

  • UV LED
  • Mercury Lamp

  Application

  • Bonding & Assembling
  • Printing
  • Disinfection
  • Coating
  • Others

  Industry Vertical

  • Chemical & Petrochemical
  • Oil & Gas
  • Energy & Power
  • Automotive
  • Food & Beverages
  • Healthcare
  • Others

 

Key Benefits of the Report

  • This study presents the analytical depiction of the global UV curing system industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the global UV curing system market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global UV curing system market trends and growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed UV curing system market analysis based on competitive intensity and how the competition will take shape in the coming years.

Questions Answered in the UV Curing System Market Research Report

  • Which are the leading market players active in the UV curing system market size?
  • What are the current trends that will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities of the market?
  • What are the projections for the future that would help in taking further strategic steps?
 
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