The global UV curing system market size was US$ 3.64 billion in 2021. The global UV curing system market size is forecast to reach US$ 17.24 billion by 2030, growing at a compound annual growth rate (CAGR) of 18.9% during the forecast period from 2022 to 2030.

UV curing systems use ultraviolet and visible light to initiate a photochemical reaction that instantly cures or dries inks, adhesives, or coatings. UV curing is a low-temperature, high-speed method that cures by polymerization instead of evaporation, increases production speed, encourages unsurpassed holding, and improves scratch & dissolvable resistance. The UV curing system does not emit ecological pollutants, dispersible materials do not dissipate, the thickness of the coating doesn't diminish, and volume doesn't diminish. It can be used for coating, decorating, printing, and assembling various products and materials. The result in energy utilization is higher within a short period of time due to a reduction in waste and pollution.

Factors Influencing Market Growth

• Due to the growing trend toward environmentally-friendly products, strict regulations governing the use of green products, and the higher performance and faster speed of UV curing systems than traditional curing systems, these factors are driving the global market. 
• Globally, the UV curing system market is forecast to experience steady growth due to the requirement for less equipment energy and space since the product does not need to be left to dry.
• The growing inclination toward these technologies for packaging and labels also creates lucrative opportunities for the global industry. 
• An increase in UV curing systems, in addition to large-scale government-funded programs, boosts the global industry's growth.

Impact Analysis of COVID-19 

Due to the slowdown in manufacturing activities, the COVID-19 reflects the decrease in UV curing system market growth. According to the United Nations Conference on Trade and Development (UNCTAD), the COVID-19 pandemic causes foreign direct investment to shrink by 5% to 15% as a result of a breakdown in the manufacturing sector. Therefore, the COVID-19 had a negative impact on FDI investments in the automotive and energy sectors, among others, due to a lack of raw materials availability. Supply chain disruptions, lockdown measures, and a lack of consumer and corporate spending limit industry growth.

Regional Insights

North America held the largest revenue share in the market in 2021. The growing demand for electric vehicles and the presence of industry leaders are driving market growth across the region. As a result of the lack of oil resources and the rising demand for petrol, the regional government promotes the sale of electric cars with incentives and discounts. As a result, UV curing systems are becoming increasingly accepted across a wide range of industries in North America.

The Asia Pacific is forecast to grow at the highest CAGR during the forecast period. UV-curable adhesives are becoming more popular for packaging since they are superior to conventional adhesives. In addition, the packaging demand across industries such as food and beverage, electronics, consumer goods, and others are growing due to the rise in exports of goods and domestic consumption.

Leading Competitors

The leading prominent companies profiled in the global UV curing system market are:

• American Ultraviolet
• APL Machinery Pvt. Limited
• Baldwin Technology
• Dymax
• Excelitas Technologies
• IST Metz
• Jenton International Limited
• Kyocera Corporation
• Omron Corporation
• Panasonic
• Phoseon Technology
• Shenzhen Naimeite
• Other Prominent Players

Scope of the Report

The global UV curing system market segmentation focuses on Technology, Type, Application, Vertical, and Region.

Segmentation based on Technology

• UV LED
• Mercury Lamps

Segmentation based on Type

• Spot Cure
• Flood & Focused Beam
• Conveyor

Segmentation based on Application

• Printing
• Bonding & Assembling
• Coating & Finishing
• Others

Segmentation based on Vertical

• Life Science & Medical
• Consumer Electronics
• Industrial & Machinery
• Semiconductor
• Automotive
• Aerospace & Defense
• Marine
• Energy
• Construction
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America