The UV curing system market is competitive with the presence of big and small players. The market is mainly dominated by companies in North America, followed by those in Europe and Asia Pacific. While major companies dominate the market through their brand image, small players offer innovative and low-cost UV curing systems in the market. As of 2017, the overall UV curing system market was dominated by key players such as Dymax (US), Nordson (US), Baldwin Technology (US), Heraeus (Germany), Phoseon (US), Honle (Germany), Panasonic Corporation of North America (US), Delo (Germany), IST METZ (US), and American Ultraviolet (US).
These top players have strong presence in the UV curing system market, along with strong R&D facilities and presence in both mature and emerging markets. The UV curing system market was valued at USD 2.74 billion in 2017 and is expected to reach USD 5.45 billion by 2023, at a CAGR of 10.66% between 2018 and 2023. Environmental awareness and stringent regulations driving the demand for green products, and high speed and performance compared to traditional curing systems are the major drivers for the UV curing system market.
Product launches and developments were the key strategies adopted by players to achieve growth and stay competitive in the UV curing system market. These strategies collectively accounted for 64% of all the growth strategies adopted by players in this market to expand their product portfolio, increase sales and distribution networks, and strengthen their share and position in the overall UV curing system market. Besides product launches and developments, companies adopted the strategies of partnerships, acquisition, and expansion. Environmental protection agencies and governmental health and safety authorities are working continuously to protect environment and health nationally and internationally. UV curing system is environment-friendly and cost-effective, which is beneficial not only in curing process but also throughout the lifecycle of the product. Government officials across the globe are adopting UV curing technologies to reduce cost.
Baldwin Technology (US) held the leading position in the overall UV curing system market in 2017. Baldwin Technology is a key manufacturer and supplier of process-automation equipment and associated consumables for applications such as printing, packaging, and industrial, which includes technical textiles, chip and fiberboards, and film extrusion. The company is pushing its efforts to be line with the latest market trends by launching new innovative products. The company focuses mainly on expanding its product portfolio, owing to which it has launched a series of products in the UV curing system market.
Nordson (US) is one of the key players in the overall UV curing system market. The company offers UV curing systems such as cool wave 2 410 system, cool wave 2 610 system, cool wave 306 system, and bluecure UV LED curing lamp. The company also offers products and systems used for applications such as dispensing; applying and controlling adhesives; industrial coatings; sealants; paints; polymers; and biomaterials. Nordson focuses on developing innovative products that cater to the needs of consumers in different countries. Product launches are likely to help the company retain its leading position in the UV curing system market.
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