Report : Asia Pacific UV Curing System Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Application (Bonding & Assembling, Disinfection, Coating & Finishing, and Printing) and End User (Automotive, Healthcare, Electronics, and Others)
Automotive segment to dominate the Asia Pacific UV Curing System Market during 2020–2028
According to a new market research study on “Asia Pacific UV Curing System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and End User” is expected to reach US$ 2,096.70 million by 2028 from US$ 1,064.88 million in 2021. The market is estimated to grow at a CAGR of 10.2% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific UV curing system market along with the drivers and restraints pertaining to the market growth. Growing adoption of UV curing solutions for 3D printing and wood coating, strengthening investment in strategic developments by major players, and raising demand for UV LED-based curing over conventional curing methods by major players are the major factor driving the growth of the Asia Pacific UV curing system market. However, narrow depth of curing hinders the growth of Asia Pacific UV curing system market.
The Asia Pacific UV curing system market is segmented on the basis of application, end user, and country. Based on application, the market is segmented into bonding and assembling, disinfection, coating and finishing, and printing. In 2020, the bonding and assembling segment held a larger share of the market; and the printing segment is expected to register a higher CAGR during the forecast period. Based on end user, the Asia Pacific UV curing system market is segmented into automotive, healthcare, electronics, and others. In 2020, the automotive segment held the largest market share; and the healthcare segment is expected to register the highest CAGR in the market during the forecast period. Further, based on country, the Asia Pacific UV curing system market is segmented into Australia, China, India, Japan, South Korea, and Rest of APAC. In 2020, China held the largest market share; and India is expected to grow at the fastest CAGR during the forecast period.
Dymax Corporation, Excelitas Technologies Corp., Hanovia-uv, Heraeus Holding, IST Metz GmbH, Nordson Corporation, and Phoseon Technology are among the leading companies in the Asia Pacific UV curing system market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, Excelitas Technologies® Corp. recently launched its next-generation spot UV curing system, the OmniCure® S2000 Elite.
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