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.
