UV Curing System Market worth $8.6 billion by 2026

On Nov 24, 2021

CHICAGO, Nov. 24, 2021 /PRNewswire/ — According to the new research report the “UV Curing System Market with Covid-19 Impact Analysis by Technology (UV LED, Mercury Lamp), Type (Spot Cure, Flood and Focused Beam, Conveyor), Pressure Type (High, Medium, Low), Application, Vertical and Geography – Global Forecast to 2026″, published by MarketsandMarkets™, the UV Curing System Market is projected to reach USD 8.6 billion by 2026 from USD 3.6 billion in 2021; it is expected to grow at a CAGR of 18.6% from 2021 to 2026. The growth of the UV curing system market in North America is mainly driven by large-scale funded programs by the government. Moreover, the high adoption rate and technological advancements also drive the growth of the UV curing system market in North America. The North American region is the largest market as the region is home to major players in the market such as Dymax (US), Phoseon (US), and Baldwin Technology (US). Stringent regulatory framework by agencies such as EPA (Environment Protection Agency) and the American Industrial Hygiene Association (AIHA) is playing a key role in the monitoring and commercialization of UV curing technology. The large share enjoyed by the region is due to the vast presence of various large—scale automotive and medical machinery manufacturers. The outbreak of the novel coronavirus is expected to affect the UV curing system market, but steady recovery is expected by 2022. The expansion of the market is due to the rising demand from the semiconductor & electronics industry as well as from the medical sector. Developing countries in APAC have a vast growth potential as well as a favorable environment for product manufacturers. Therefore, the UV curing system market in APAC is expected to grow at the highest rate during the forecast period.

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Growing inclination toward eco-friendly products, along with stringent regulations.

regarding use of green products would further fuel the adoption of UV curing systems in APAC. Furthermore, greater benefits of UV Curing systems than traditional curing systems and rising demand of UV LEDs across industries are also favoring the growth of the UV curing system market in the region. High-growth prospects of UV curing technology in new applications and preference for UV technologies for print label and packaging due to COVID-19 are the major opportunities for the UV curing system market. On the other hand, factors such as the lack of awareness and high cost of UV curable coatings and limited depth of curing are restraining the growth of the UV curing system market. Risks related to hazardous effects of mercury present in UV mercury lamps, slowdown in production of manufacturing industries due to COVID-19 and cracking defects on UV curable coating products are few challenges that the manufacturers are facing.

In technology, the UV LEDs segment is…