by UV curing technology utilizes ultraviolet light to cure and dry various types of inks, coatings, and adhesives. It offers several advantages over traditional thermal curing methods such as rapid curing rates, energy efficiency, and the ability to cure thick films and complex geometries. UV curing facilitates continuous high-speed production lines without interruption and finds wide applications across various end-use industries including printing, industrial coatings, wood & furniture coatings, electronics, medical devices, and packaging.
UV curing lamps are essential components of UV curing systems that emit ultraviolet light of specific wavelengths to initiate photochemical reactions and polymerization of UV curable coatings and adhesives. Mercury vapor, LED, and metal halide lamps are commonly used UV curing lamps offering excellent durability and output quality.
The global UV Lamps Market is estimated to be valued at US$ 741.3 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends influencing the UV lamps market growth is the rising adoption of LED UV curing technology. LED-based UV lamps offer various benefits over mercury lamps such as longer lifespan, eco-friendliness, design flexibility, and energy efficiency. LED UV curing systems can significantly reduce energy consumption by 30-50% and eliminate costs associated with mercury disposal. This is encouraging various end-use industries to replace traditional mercury lamps with advanced LED technology. Moreover, ongoing technological advancements are enabling the development of high-power LED lamps with improved curing capabilities, further expanding their application scope.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the UV lamps market is low as it requires high initial investment to set up manufacturing facilities.
Bargaining power of buyers: The bargaining power of buyers in the UV lamps market is moderate as there are multiple established players offering a variety of UV lamps.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials required are commoditised in nature.
Threat of new substitutes: The threat of substitutes is low as UV lamps have limited substitutes for curing, disinfection and other applications.
Competitive rivalry: The competitive rivalry in the UV lamps market is high due to the presence of established players.
Key Takeaways
The global UV Lamps Market is estimated to be valued at US$ 741.3 Mn in 2023 and is expected to exhibit a CAGR of 14% over the forecast period 2023 to 2030.
The global UV Lamps market is expected to witness high growth over the forecast period. Regionally, North America is expected to dominate the market owing to increasing food safety concerns and stringent regulations regarding wastewater treatment. Europe and Asia Pacific are also lucrative markets for UV lamps due to growth in the healthcare, wastewater and other industries in the regions. Additionally, strict wastewater treatment rules further boost adoption.
Key players: Key players operating in the UV Lamps market are Georgia-Pacific LLC, International Paper Company, Lenzing AG, Grasim Industries Ltd., Sateri Holdings Limited, Aditya Birla Group, Tangshan Sanyou Xingda Chemical Fiber Co., Ltd., Barnhardt Manufacturing Company, Shanghai Textile Raw Materials Corporation, Shandong Silver Hawk Chemical Fibre Co., Ltd., Thai Rayon Public Company Limited, Xinjiang Zhongtai Chemical Co., Ltd., Shandong Demian Incorporated Company, Gujarat Ambuja Exports Limited, and North Alabama Cotton Cooperative.
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Source: Coherent Market Insights, Public sources, Desk research
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