LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global UV curing systems market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Navin Rajendra, an industry expert from Technavio, specializing in research on semiconductor equipment sector, says, “Conventional drying systems rely on heat and evaporation to dry a solvent. However, the process not only reduces the applicability of the solvent by over 50% but also is environmentally unfriendly due to the number of harmful chemicals that are released during the drying process.”
The market is expected to reach USD 8,206 million by 2021 and is set to grow at a CAGR of almost 15% during the forecast period. In contrast, UV curing systems are more productive, energy efficient, and environment-friendly. Unlike conventional methods, the invisible UV spectrum released by the system initiates a chemical reaction within the solvent that instantly hardens, thereby reducing waste and emissions.
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
The top three emerging trends driving the global UV curing systems market according to Technavio research analysts are:
Increased adoption of UV LEDs in consumer electronics
Compact size, low operational costs, reduced power consumption, easy disposal, ozone-free operation, and the flexibility of LEDs to operate at different wavelengths have made the adoption of LEDs, especially UV LEDs, possible in mobile computing devices, such as smartphones and tablets. UV LEDs are used for curing adhesives to mount sensitive touch panel displays during the assembly of mobile computing devices.
“The demand for mobile computing devices will directly impact the LCD touch panel display market, driving the volume of these display units. The increasing adoption of LEDs for curing UV-sensitive adhesives will positively impact the demand for UV LEDs in the future,” according to Navin.
Rise in demand for electric vehicles
The demand for electric vehicles is increasing globally. Nearly 6,500 electric cars are sold every month in the US. Tesla, one of the major electric car manufacturers, has taken more than 370,000 orders for Model 3. Many governments are encouraging the sales of electric cars by providing incentives and discounts owing to the increasing demand for petrol and decreasing oil resources.
Advances in printing industry
UV-LED printers have enjoyed a higher degree of traction compared with conventional printers in the print media owing to their energy efficiency and versatility. Online documentation and paperless transactions have, through the years, taken a large share of revenue of the global printing industry, which, in the past, relied on traditional printing as its major source of revenue.
To stay competitive in the market, vendors must design products that can act as one-stop-shop solutions. UV-LED printers are expected to gain further traction in the market because of their capability to cure ink more efficiently over a broader range of substrates.
The key vendors are as follows:
- Baldwin Technology
- Heraeus Noblelight America
Browse Related Reports:
- Global Superconducting Magnets Market 2017-2021
- Global Dielectric Etchers Market 2017-2021
- Global Semiconductor Thermal Evaporator Market 2017-2021
Become a Technavio Insights member and access all three of these reports for a fraction of their original cost. As a Technavio Insights member, you will have immediate access to new reports as they’re published in addition to all 6,000+ existing reports covering segments like in-vitro diagnostics, oncology, and vaccines. This subscription nets you thousands in savings, while staying connected to Technavio’s constant transforming research library, helping you make informed business decisions more efficiently.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.