Global UV Curing Systems Market 2018-2023- Industry Trends & Competitor Analysis
UV Curing System Market by Technology (Mercury Lamp, and UV LED) - 2023 | MarketsandMarkets
United States, 12 February 2019 -- UV Curing Systems Market
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. Major drivers for the growth of the UV curing system market are environmental awareness and stringent regulation; and low curing time and better performance compared to traditional curing systems.
Of all the major applications of UV curing systems, bonding and assembling holds the largest share of the UV curing system market. The demand for UV curing systems for bonding and assembling is increasing because of its fast, flexible, and environment-friendly curing method. The growing demand for semiconductor devices and the increasing sales of mobile and consumer electronic devices are expected to fuel the demand for UV curing systems for bonding and assembling application.
High pressure for UV curing systems held the largest market share owing to its high intensity wavelength used to cure deep layer in major revenue generating industries such as automotive, industrial, and consumer electronics in UV curing system market. Furthermore, high-pressure lamps offer benefits, such as longer lamp life, less power input, and greater efficiency, compared to low- and medium-pressure lamps. Moreover, the increasing demand for low-power high-output (LPHO) lamps will further drive the UV curing system market.
Among UV curing systems, type spot cure held the largest share in the UV curing system market. UV spot curing systems are used in assembly and manufacturing processes for a range of industrial applications and processes to polymerize adhesives. Spot curing systems use low-intensity light instead of heat for curing, which is well suited for electronic components and plastic parts, fueling the market for UV spot cure system. Currently, UV curing systems hold the maximum share in medical and electronics industries, thus fueling the market for UV spot cure systems.
The UV curing system market in RoW is expected to grow rapidly between 2018 and 2023. Increasing awareness about benefits of the UV curing technology is fueling the growth of the UV curing market in the region.
The key restraining factor for this market is the limited depth of curing. Risks related to mercury present in UV mercury lamps are a major challenge for the market.
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)
Baldwin Technology (US) held the leading position in the overall UV curing system market in 2017. Baldwin Technology is a key manufacturer and supplier of process-automation equipment and associated consumables for applications such as printing, packaging, and industrial, which includes technical textiles, chip and fiberboards, and film extrusion. The company is pushing its efforts to be in line with the latest market trend by launching new innovative products. The company is focusing mainly on expanding its product portfolio, owing to which it has launched a series of products in the UV curing system market.
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