Global UV curing systems market is expected to reach $8,206 million by 2021, growing at a CAGR of about 15%.
Market researcher Technavio believes the UV curing market will $8,206 million by 2021, growing at a CAGR of almost 15% during the forecast period of 2017 to 2021.
Navin Rajendra, industry expert at Technavio specialising in the semiconductor equipment sector, said, “Conventional drying systems rely on heat and evaporation to dry a solvent. However, the process not only reduces the applicability of the solvent by over 50% but also is environmentally unfriendly due to the number of harmful chemicals that are released during the drying process.”
The top three emerging trends driving the global UV curing systems market, according to Technavio, are:
Adoption of UV LEDs in consumer electronics
“The demand for mobile computing devices will directly impact the LCD touch panel display market, driving the volume of these display units. The increasing adoption of LEDs for curing UV-sensitive adhesives will positively impact the demand for UV LEDs in the future,” stated Navin in a press release.
Increasing demand for electric vehicles
Many governments are encouraging the sales of electric cars by providing incentives and discounts owing to the increasing demand for petrol and decreasing oil resources.
Advances in printing industry
UV-LED printers are expected to gain further traction in the market because of their capability to cure ink more efficiently over a broader range of substrates.