Ultraviolet (UV) Curing System Market Size to Increase by $1.0 Billion by 2024

From $9.33 trillion in 2019, the total value of the goods manufactured across the globe rose to $14.17 trillion in 2018, says the World Bank. This has been a cumulative result of the increase in investments, both domestic and foreign, advancements in technology, and growing consumer demand for various products. Talking of manufacturing technology specifically, advanced production methods not only help manufacturers cut down on their operational costs, but also increase their output. One of the trending manufacturing technologies, these days, is ultraviolet (UV) curing, wherein UV light is used to cure or dry inks, coatings, and adhesives, rather than heat or air.

Hence, with growth in manufacturing, the procurement of machines which enable UV curing is also rising. This is why the UV curing systemmarket revenue is on path to rise from $1.4 billion in 2018 to $2.4 billion by 2024, at an 8.8% CAGR between 2019 and 2024 (forecast period). In the manufacturing sector, this technique is prized because it shields the substrates from moisture, corrosion, and chemical spills. Further, as UV curing is fast, it leads to a higher output in lesser time, which helps manufacturers maximize their resources, and ultimately, the revenue.

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Market Segmentation by Type

·         Spot Curing

·         Flood Curing

·         Hand-Held Curing

·         Conveyor Curing

Market Segmentation by Technology

·         Conventional Ultraviolet (UV)

·         Ultraviolet Light-Emitting Diode (UV LED)

·         Others (Mercury Lamp and Microwave Lamp)

Market Segmentation by Pressure

·         Low

·         Medium

·         High

Market Segmentation by Application

·         Printing

·         Coating

·         Adhesive

·         Others (Water Disinfection, Substrate Assembling, and Finishing)

Market Segmentation by End User

·         Aerospace and Defense

·         Industrial Manufacturing

·         Electronics

·         Automotive

·         Healthcare

·         Others (Water Treatment Plants, Food and Beverages, Media and Entertainment, Oil and Gas, and Agriculture)

Around the world, Asia-Pacific (APAC) has been the largest UV curing system market up till now, as it is one of the largest electronics and automobile producers across the world. Incidentally, the automotive industry currently accounts for the widest usage of the UV curing technology. Additionally, the adoption of this technology is increasing in metal and plastic finishing and packaging applications in APAC, which is a result of the rapidly growing food and beverages sector here, on account of the increase in people’s disposable income. With increasing purchasing power, people in Thailand, India, Indonesia, and Vietnam are buying packaged food and electronic gadgets at a high rate.

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Hence, due to its fast and more-efficient drying ability, UV curing would be adopted by a rising number of manufacturers to increase their output.


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