The UV curing system market is anticipated to grow at a CAGR of 8.93% in order to attain a market size of US$2,277.562 million by 2025, from US$1,363.280 million in 2019. UV curing systems is a photochemical process in which high-intensity ultraviolet light is used to instantly cure or dry inks, adhesives or coatings.
UV curable ink is an alternative to solvent-based products. The conventional process shrinks the initial application by more than 50% and creates environmental pollutants, whereas, in UV curing systems, no environmental pollutants are created, no loss of coating thickness, and no loss of volume. The result is higher productivity in less time, with a reduction in waste, energy use, and pollution. Increasing demand for better quality products is boosting the market for UV curing system. UV curing systems are now used in various segments including automotive, electronics, telecommunication, graphic arts, and others. Additionally, the burgeoning demand for eco-friendly products is fueling the growth of the global UV curing system market in the forecast period.
The medical end-user segment is expected to have a significant share owing to its features such as a reduction in friction between electronic medical devices, uniform adhesion and surface coverage, and coating homogeneity. Geographically, the North America region is expected to have a significant share in the market due to the presence of major manufacturers and a strict regulatory framework. The market in the Middle East region is also expected to rise owing to increasing awareness about the benefits of using UV curing systems.
On the basis of source, mercury-based UV lamps are expected to hold a significant market share are being widely adopted for varied industrial and printing applications due to the advancements in technology and reduction in manufacturing time in comparison to traditional curing methods. The presence of the stringent regulatory framework for the utilization of bio-based commodities, in addition to the growing inclination towards usage of environmentally-safe products, are the major factors driving the market growth for this segment.
The wide presence of market players in UV curing industry is strengthening the market growth in the forecast period.
Dymax Corporation’s, one of the examples of light-curing equipment product portfolio consist of Dymax UV light spot cure units which are capable of curing light-curable materials in between 1-10 seconds. The company’s UV light curing spot lamps hold applications in research and development laboratories, in addition, to be utilized in medical, industrials, electronics, automotive, and optical industries. Also, the products are being supplied with a variety of standard or customized light delivery choices. Several lightguide options available include 3mm, 5mm, and 8mm in diameter. The length of the lightguide include 1meter (standard) to 6 meters. Also, other options include liquid or fiber, and single or multifurcated configurations. The technology being used for spot-curing consist of high-intensity LEDs instead of traditional metal-halide or mercury-arc lamps. Hence, the use of LEDs makes them ideal for curing thermally sensitive materials. This further contributes to low-energy consumption, thus provide cost-saving benefits, and is capable of providing better performance for better process control.
The company’s light-curable materials are highly useful for high-end industries such as aerospace and defense where these are used in the extension of an engine’s service life, improvement of imaging sensors, and protection of printed circuit boards (PCBs) from the harsh environment which holds importance in the designing and manufacturing of components extensively in use in rotorcraft, MRO, OEM, and avionics sectors of the A&D industry. Additionally, the company’s light-curable formulations are highly capable of addressing the increasing industrial challenges and demands. Hence, with continuous innovations, improvements in electronic components are being made by offering product technology which enhances the throughput and reduces rework, and costs. The company’s offerings of light-curable materials including UV curable materials as well comprises conformal coatings, encapsulants, form-in-place gaskets, ruggedizing materials, potting compounds, SpeedMask® maskants, in addition to aerospace adhesives. The applications include camera module bonding, surface finishing protection, PCB coating, and sensor protection.
The growing printing industry is driving the market demand during the forecast period.
With printing playing a significant role in the modern world, the industry is set to grow with several advancements being made as per the evolving demands of the customers worldwide. With digitization, the demand for digital printing technology is also rising, further burgeoning industry growth. Companies are leveraging various printing technologies in order to make an impact among the varied consumers at the global level and adding value to their businesses through integrated marketing solutions. The industry is expanding beyond the conventional method of printing where big industry players have started working on integrating their products along with the popular cloud-based apps including Box, Dropbox, and Microsoft OneDrive. Hence, the growing adoption of cloud-based solutions is further bolstering industrial growth. Also, the players in the industry are transforming their business models where efforts are being made to move their focus on the packaging and labelling. Many big vendors have begun to offer smartphone apps for “printing on the go” and are planning to enter the next phase, i.e. “printing from outside the office”.
The growing trend of eco-friendly manufacturing processes, UV-curing systems are gaining popularity, further propagating the market growth in the forecast period.
The UV curing of inks and coatings, with curing, as part of many manufacturing processes in various end-use industries, the market for UV curing technology holds high growth potential with the shift in adopting environment-friendly technologies. The process of curing using ultraviolet radiation offers several benefits in comparison to other traditional methods, which include the reduction or elimination of environmentally deleterious chemicals, thus, helping in the reduction of cleanup times with high gloss capabilities. With technological advancements, UV curing also hold high potential for growth in the future where interested end-users are working in close collaboration with the UV lamp or equipment manufacturers, formulators in the coating industry and their raw material suppliers for developing UV curing systems which is poised to overcome the current technological limitations and assist in the broader adoption of UV LED curing for several end-use applications in wood industry, coatings, automotive or transportation industry, and many other industrial applications. This is because of the fact that in many other sectors UV LED curing technology has still not reached the levels required for commercialization.
Frequently Asked Questions (FAQs)
Q1. What will be the UV curing system market size by 2025?
A1. The UV curing system market is anticipated to reach a total market size of US$2,277.562 million by 2025.
Q2. What is the size of global UV curing system market?
A2. UV Curing System market was valued at US$1,363.280 million in 2019.
Q3. What are the growth prospects for the UV curing system market?
A3. The global UV curing system market is anticipated to grow at a CAGR of 8.93% during the forecast period.
Q4. What factors are anticipated to drive the UV curing system market growth?
A4. Increasing demand for better quality products is boosting the market for UV curing systems.
Q5. Which region holds the largest market share in the UV curing system market?
A5. Geographically, the North American region is expected to have a significant share in the UV curing system market due to the presence of major manufacturers and a strict regulatory framework.