05.10.22
MarketsandMarkets’ report on UV, "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," estimates that the UV curing system market is projected to reach $8.6 billion by 2026 from $3.6 billion in 2021.
It is expected to grow at a CAGR of 18.6% from 2021 to 2026. The North American region is the largest market as the region is home to major players in the market. The UV curing system market in APAC is expected to grow at the highest rate during the forecast period.
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 are 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.
UV LED technology is expected to dominate the UV curing system market during the forecast period due to the increase in demand for energy-efficient LEDs and enhanced user experience. UV LEDs have a longer life span than mercury lamps and are environmentally friendly. Apart from these, UV LEDs do not use mercury. North America is expected to be the largest market for UV LED during the forecast period. This is due to its features such as instantaneous switching on and off, fast and uniform drying and curing, low heat emission, and low power consumption.
It is expected to grow at a CAGR of 18.6% from 2021 to 2026. The North American region is the largest market as the region is home to major players in the market. The UV curing system market in APAC is expected to grow at the highest rate during the forecast period.
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 are 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.
UV LED technology is expected to dominate the UV curing system market during the forecast period due to the increase in demand for energy-efficient LEDs and enhanced user experience. UV LEDs have a longer life span than mercury lamps and are environmentally friendly. Apart from these, UV LEDs do not use mercury. North America is expected to be the largest market for UV LED during the forecast period. This is due to its features such as instantaneous switching on and off, fast and uniform drying and curing, low heat emission, and low power consumption.
