Global UV Curing System Markets, 2021-2022 & 2028 - Increasing Adoption of UV Curing Solutions for 3D Printing and Wood Coating & Rising Investment in Strategic Developments by Major Players - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "UV Curing System Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application and End User" report has been added to ResearchAndMarkets.com's offering.

With the improving standard of living among the population of developing countries such as India and China, the demand for various electronics is also experiencing a significant rise over the years. Countries such as China, India, and Japan have a huge base of electronic manufacturers.

Haier, TCL, Xiaomi, Lenovo, Huawei, Havells India, Voltas, Godrej, Hitachi, Panasonic, Canon, and Toshiba are among the key electronic manufacturers across the countries. UV curing systems are actively utilized across these companies for various applications such as die attachment, wire tacking, pin attachment, and sealing & gasketing products.

UV curing solutions are also adopted for coating applications across this industry. Thus, the wide range of UV curing applications is propelling the demand for the same among the industries, thereby contributing to the uv curing system market growth. UV LED lamps emit near-UV radiation and are 60-80% more energy efficient than traditional UV lamps.

They also have environmental, health, and safety benefits. These factors are influencing the rise in demand for UV curing systems from the wood manufacturing industries across the region. All factors are influencing the UV curing system market growth.

Similarly in Europe, the region is an automotive manufacturing hub. Moreover, there is a constant increase in government initiatives to promote the industry. The significant automotive projects undertaken by the governments include CARS 2020 Action Plan, GEAR 2030, and Horizon 2020.

These projects are further funding research and development activities for the European Green Vehicle initiative. The number of electric cars registered for 2020 in Europe was close to 1,325,000, up from 550,000 in 2019. In just one year, the percentage of total new car registrations has risen from 3.5% to 11%.

Electric vans have also grown in popularity, rising from 1.4% of new registrations in 2019 to 2.2% in 2020. Additionally, the region also manufactured 16,921,311 units of passenger and commercial cars in 2020. Thus, the rise in automotive production across the region is further propelling the growth of the UV curing system market for applications such as printing, coating & finishing, and bonding & assembling.

The country is the largest market for automobiles in the world, and various vehicle manufacturing companies are in Germany, such as Volkswagen and BMW AG. Germany produced 3,742,454 vehicles in 2020, including passenger cars and light commercial vehicles. Vehicle production is expected to rise dramatically over the years, resulting in increased demand for UV curing systems across the country from the automotive industry.

With an investment influenced by innovative research, governmental and private support, and a strong workforce, Germany's electronics and microtechnology manufacturing sector is of international importance. The German electronics market is the largest in Europe and the sixth largest in the world. Germany, with a 50 percent export stake, is pushing next-generation technologies into its electronic manufacturing business. Germany is known around the world as a cutting-edge microelectronics manufacturing and research centre.

Germany's electronics industry is also Europe's largest in terms of production and revenue. The electronics industry in Germany accounts for 10% of domestic industrial output, 3% of GDP, and 23% of total R&D spending in the country. Thus, the rising technology adoption across the country is further propelling the adoption of UV curing system, and therefore boosting the UV curing system market growth.

Impact of COVID-19 Pandemic on UV Curing System Market in Middle East and Africa region

Majority of economic operations in the Middle East and Africa region were suspended due to an increase in the number of COVID-19 cases in the region, thereby, impacting the UV curing system market negatively from both supply and demand side.

Since the tourism sector in the country experienced very less demand, due international travel ban, demand for new air conditioners, television sets, and refrigerators reduced notably from the hospitality industry. This impacted the requirement for UV curing system from consumer electronics manufacturers.

UV LED-based curing systems have better properties, such as better abrasion resistance, durability, elasticity, adhesion, and chemical resistance, than the other curing systems. Hence, the demand for UV LED-based curing systems is increasing over conventional curing systems, which use mercury lamps. UV LED-based curing systems also provide a better operational speed of the machine and faster drying of the product.

The UV curing systems also reduce the emission of the volatile organic compounds (VOCs) which is released during painting, coatings, inks, adhesives, and similar materials. Hence, these systems are highly adopted by various end-use industries, such as furniture, automotive, healthcare, and electronics. The above-mentioned aspects are positively impacting the growth of UV curing system market.

Key Market Dynamics

Market Drivers

• Increase in Demand for UV LED-Based Curing over Conventional Curing Methods
• Stringent Government Regulations

Market Restraints

• Limited Depth of Curing

Market Opportunities

• Rising Investment in Strategic Developments by Major Players

Future Trends

• Increasing Adoption of UV Curing Solutions for 3D Printing and Wood Coating

A few of the major players operating in the UV curing system market are

• American Ultraviolet
• AMS Spectral UV
• Dymax
• Excelitas Technologies Corp.
• Hanovia-uv
• Heraeus Holding
• IST Metz GmbH
• Jenton Group
• Nordson Corporation
• Phoseon Technology

For more information about this report visit https://www.researchandmarkets.com/r/tk8zy2