Market Leadership - UV Curing System Market

 

The UV curing system market is projected to reach USD 6.7 billion by 2025 from USD 3.3 billion in 2020; it is expected to grow at a CAGR of 15.0% from 2020 to 2025. The UV curing system market in APAC is projected to grow at the highest CAGR during the forecast period. APAC is a manufacturing—intensive region with the presence of a large number of companies across various sectors. Automotive, defense, and electronics industries are a few of the major sectors in the region that have a high demand for UV curing systems. Countries such as China, Japan, India, and South Korea are major contributors to the growth of the UV curing system market in APAC. China and Japan are considered as the early adopters of UV technology in the electronics manufacturing industry. The growing demand and implementation of policies that include emission control and eco—friendly products have led to innovations and developments in the UV curing industry, making it a strong hub for UV curing technologies.

Baldwin Technology (US), Dymax (US), Nordson (US), Excelitas (US), Heraeus (Germany), Phoseon (US), Honle (Germany), Ist Metz (Germany), American Ultraviolet (US), and Hanovia (UK) are a few major players in the UV curing system market.

Top 2 Players in UV Curing System Market:

Dymax (US)

Dymax manufactures UV/visible light curing adhesives, light curing systems, and dispensing equipment for manufacturers in aerospace, appliance, automotive, display, electronics, glass, industrial, medical device, metal finishing, optical, orthopedic, packaging, plastics, speaker, and structural markets. Dymax is focusing on organic growth through product launches to increase its business and share in the UV curing system market. In August 2019, Dymax introduced the BlueWave AX-550 LED flood curing system, a high-intensity unit used for curing light-curable materials to increase productivity and efficiency. Dymax could emphasize inorganic growth strategies, such as partnership and mergers, to target emerging and rapidly growing markets, such as India, China, and South Korea, in APAC. Moreover, the company offers turnkey and custom bonding solutions for medical device manufacturers to fight COVID-19.

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Nordson (US)

Nordson offers products and systems used in applications such as dispensing, applying and controlling adhesives, industrial coatings, sealants, paints, polymers, and biomaterials. The company offers products for industries such as aerospace, agriculture, lawn, garden, appliance, automotive and transportation, chemicals, construction and architecture, defense, medical, electrical, electronics and semiconductor, and energy. Nordson focuses on increasing its sales by launching new products in the UV curing system market. For instance, in March 2019, the company launched a new modular power coating gun controller with functionality such as peer-to-peer communication between each controller interface for “one-touch” triggering, grouping, coating recipe selection, and recipe copying. The company could emphasize on expanding its business in the Americas and APAC by partnering or acquiring small players in the UV curing system market space. This is expected to help the company maximize its revenue by targeting latent opportunities in these regions.

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