UV Curing System Market Competitive Landscape: Top Players and Their Strategies- By The Business Research Company
The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, May 11, 2023 /PRNewswire/ -- As per The Business Research Company's UV Curing System Global Market Report 2023, the global UV curing system market size will grow from $2.7 billion in 2022 to $3.1 billion in 2023 at a compound annual growth rate (CAGR) of more than 14%. The UV curing system market size is then expected to grow to $5.3 billion in 2027 at a CAGR of more than 13%. Going forward, global population growth and urbanization and favorable government initiatives will drive the UV curing system market growth.
The global UV curing system market is fragmented, with a large number of players. Heraeus Holding was the largest competitor with 6.4% UV curing system market share, followed by Panasonic Holdings Corporation, Kyocera Corporation, Omron Corporation, Dr. Hönle AG, Excelitas Technologies, IST METZ GmbH & Co. KG, Dymax, Miltec UV and Baldwin Technology.
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Companies operating in UV curing systems are focusing on hybrid LED (light-emitting diode) UV retrofit systems to offer improved products. The retrofit modules are designed for integration into existing printing and converting equipment to create an affordable hybrid production press. For example, in May 2022, Fujifilm, a Japan-based conglomerate company, launched the Activ Hybrid LED UV curing system, which is installed on new presses or retrofitted to existing equipment by label and packaging converters. The system combines LED UV curing technologies with Fujifilm's ink expertise, to improve label production on narrow web presses. It enables traditional UV or water-based flexo presses to be seamlessly converted to LED UV curing. The system's hybrid design has the added benefit of conventional UV arc capability, arming printers with the option to also print with specifically developed and unique conventional UV inks. The Activ Hybrid LED UV curing system is claimed to provide environmental benefits over conventional UV systems energy use is reduced, VOCs (volatile organic compounds) are eliminated, and less waste is produced. The working environment for operators is also improved, including heat from the conventional UV lamps, noise and even the smell.
Partnerships and collaborations are key trends in the UV curing system market. For example, in June 2022, Dymax, a US-based company that develops innovative rapid and light-curable materials, dispense equipment and UV/LED light-curing systems, partnered with Quantum Systems, a Germany-based technology company. This partnership will bring Dymax together with customers and provide them with a single source for automated dispense, coating, curing and material solutions.
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The global UV curing system market is segmented -
- By Type: Spot Cure, Flood Cure
- By Technology: Mercury Lamp, Microwave Lamp, Arc Lamp, UV LED
- By Pressure Type: High Pressure, Medium Pressure, Low Pressure
- By Application: Printing, Bonding and Assembling, Coating and Finishing, Disinfection, Others
- By End-User: Aerospace and Defense, Automotive and Transportation, Construction and Architectural, Semiconductor and Electronics, Medical, Others
According to the UV curing system market analysis, the top growth potential in the UV curing system market segmented by type will arise in the spot cure segment, which will gain $1.5 billion of global annual sales by 2027. The UV curing system market size will gain the most in the USA at $788.3 million.
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