Jul 23, 2019   SOURCE: BusinessWire

UV Curing System Market by Technology (Mercury Lamp and UV LED), Type (Spot Cure, Flood Cure, and Focused Beam), Pressure (High, Medium, and Low) - Global Forecast to 2024 - ResearchAndMarkets.com

The "UV Curing System Market by Technology (Mercury Lamp (Microwave Lamp, Arc Lamp) and UV LED), Type (Spot Cure, Flood Cure, and Focused Beam), Pressure (High, Medium, and Low), Application, End-User Industry, and Geography - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The UV curing system market is expected to reach USD 6.1 billion by 2024 from USD 3.7 billion in 2019, at a CAGR of 10.3%

Market Dynamics

Drivers

  • Inclination Toward Environmentally Friendly Products, Along With Stringent Regulations Regarding Use of Green Products
  • High Performance and Increased Speed of UV Curing Systems Than That of Traditional Curing Systems

Restraint

  • Limited Depth of Curing

Opportunities

  • High-Growth Prospects of UV Curing Technology in New Applications
  • High Acceptance of UV Curing With Rapid Development of Bio-Based Products and Resins

Challenges

  • Risks Related to Hazardous Effects of Mercury Present in UV Mercury Lamps

The inclination toward environmentally friendly products, along with stringent regulations regarding the use of green products and high performance & increased speed of UV curing systems than that of traditional ones are among major driving factors for UV curing system market.

This growth can be attributed to the inclination toward environmentally friendly products, along with stringent regulations regarding the use of green products and high performance & increased speed of UV curing systems than that of traditional curing systems. Factors restraining the growth of the UV curing system market are the limited depth of cure.

Mercury lamp to hold the larger market share during the forecast period in UV curing system market

The UV curing system market for mercury lamps is expected to hold a larger market share during the forecast period. Mercury-based UV lamps have been extensively adopted for industrial and printing applications owing to the technological advancements and reduction in manufacturing time compared to traditional curing methods. Further, increasing government efforts, especially in the US and European countries to implement eco-friendly curing technologies, are encouraging industries to adopt UV curing systems.

UV flood curing system to grow at the highest share during the forecast period in UV curing system market

The market for UV flood curing systems is expected to grow at the highest CAGR during the forecast period. A UV flood curing system is designed to cure a large area or multiple assemblies at the same time, making it an ideal system for applications such as curing adhesives, sealants, and coatings.

Bonding & assembling application to hold the largest share of UV curing system market during the forecast period

The bonding & assembling application is expected to hold the largest share of the global UV curing system market during the forecast period. UV curing systems in the bonding & assembling application are used to bond or stick materials, such as glass, plastic, and metals which are required typically in industries, such as semiconductor and consumer electronics. The demand for UV curing systems for bonding & assembling is increasing because of their fast, flexible, and eco-friendly curing methods.

North America to be the largest shareholder, whereas RoW to register the highest CAGR during the forecast period

North America is expected to account for the largest share of the global UV curing system market during the forecast period, owing to the presence of key UV curing system manufacturers, such as Dymax, Phoeseon, and Baldwin Technology. The UV curing system market in RoW is expected to grow at the highest CAGR during the forecast period. The Middle East accounted for a substantial share of the UV curing system market in ROW. Increasing awareness regarding the benefits of the technology is fueling the growth of the UV curing market in RoW.

Companies Mentioned

  • American Ultraviolet
  • Atlantic Zeiser
  • Baldwin Technology
  • Benford UV
  • Delo
  • Dymax
  • Excelitas
  • Gew (EC)
  • Hanovia
  • Heraeus
  • Honle
  • Hoya
  • IST Metz
  • Miltec UV
  • Nordson
  • Omron
  • Panasonic Corporation of North America
  • Phoseon
  • Thorlabs
  • Uvitron

For more information about this report visit https://www.researchandmarkets.com/r/p20tl8