The UV curing system market was valued at USD 3.28 Billion in 2018 and is expected to reach USD 5.45 Billion by 2023, at a CAGR of 10.66% between 2018 and 2023. Major drivers for the growth of the UV curing system market are environmental awareness and stringent regulation; and low curing time and better performance compared to traditional curing systems.
Of all the major applications of UV curing systems, bonding and assembling holds the largest share of the UV curing system market. The demand for UV curing systems for bonding and assembling is increasing because of its fast, flexible, and environment-friendly curing method. The growing demand for semiconductor devices and the increasing sales of mobile and consumer electronic devices are expected to fuel the demand for UV curing systems for bonding and assembling application.
High pressure for UV curing systems held the largest market share owing to its high intensity wavelength used to cure deep layer in major revenue generating industries such as automotive, industrial, and consumer electronics in UV curing system market. Furthermore, high-pressure lamps offer benefits, such as longer lamp life, less power input, and greater efficiency, compared to low- and medium-pressure lamps. Moreover, the increasing demand for low-power high-output (LPHO) lamps will further drive the UV curing system market.
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Among UV curing systems, type spot cure held the largest share in the UV curing system market. UV spot curing systems are used in assembly and manufacturing processes for a range of industrial applications and processes to polymerize adhesives. Spot curing systems use low-intensity light instead of heat for curing, which is well suited for electronic components and plastic parts, fueling the market for UV spot cure system. Currently, UV curing systems hold the maximum share in medical and electronics industries, thus fueling the market for UV spot cure systems.
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