Asia Pacific UV Curing System Market By Application (Bonding & Assembling, Printing, Coating & Finishing, and Others), By Technology (UV LED and Mercury Lamp), By Verticals, the market is segmented Automotive, Aerospace & Defense, Industrial & Machinery, Energy, Electronics, Life Science & Medical, and Others), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific UV Curing System Market would witness market growth of 22.3% CAGR during the forecast period (2021-2027).
UV curing can be defined as the process involving high speed and low temperature that assist to dry by the process of polymerization instead of evaporation. UV curing can be smoothly used for different purposes like coating, decorating, printing, and assembling several products and materials. The rise in demand for a better quality of the final products and higher consistency is creating a massive demand for UV Curing systems in the market.
The adoption and demand for UV curing systems are expected to be driven by the rise in demand for these systems across automotive, aerospace, transportation, healthcare, and other industries. Also, some of the growth catalysts for the market are rise in preference for sustainable products, growing demand for UV LEDs due to the COVID-19 pandemic, and advantages of UV Curing Systems over the legacy curing systems.
The electronic sector of the region is a significant contributor to the economy of this region due to the technological advancements made by nations like Taiwan, South Korea, India, and Japan. On the other hand, the increasing adoption of remote working and demand for advanced medical equipment to upgrade the current medical industry leads to the establishment of new manufacturing facilities for medical devices. Hence, this factor is anticipated to create bright growth prospects for the market in the upcoming years.
The China market dominated the Asia Pacific Automotive UV Curing System Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $273.5 million by 2027. The Japan market would showcase a CAGR of 19.8% during (2021 - 2027). Additionally, The India market is anticipated to grow a CAGR of 21.2% during (2021 - 2027).
Based on Application, the market is segmented into Bonding & Assembling, Printing, Coating & Finishing, and Others. Based on Technology, the market is segmented into UV LED and Mercury Lamp. Based on Verticals, the market is segmented Automotive, Aerospace & Defense, Industrial & Machinery, Energy, Electronics, Life Science & Medical, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide UV Curing System Market is Projected to reach USD 10.22 billion by 2027, at a CAGR of 21.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Omron Corporation, Panasonic Corporation, Nordson Corporation, Kyocera Corporation, Thorlabs, Inc., Excelitas Technologies Corp., American Ultraviolet, IST Metz GmbH, Dymax Corporation, and Heraeus Holding GmbH.
Scope of the Study
Market Segments Covered in the Report:
- Bonding & Assembling
- Coating & Finishing
- UV LED
- Mercury Lamp
- Aerospace & Defense
- Industrial & Machinery
- Life Science & Medical
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Omron Corporation
- Panasonic Corporation
- Nordson Corporation
- Kyocera Corporation
- Thorlabs, Inc.
- Excelitas Technologies Corp.
- American Ultraviolet
- IST Metz GmbH
- Dymax Corporation
- Heraeus Holding GmbH
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