Healthcare is Expected to be the Fastest Growing Segment During the Forecast Period 2021–2028
According to The Insight Partners market research study on “South America UV Curing System Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application and End User” is expected to reach US$ 159.82 million by 2028 from US$ 103.87 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the South America UV curing system market along with the drivers and restraints pertaining to the market growth. Elevating adoption of UV curing solutions for 3D printing and wood coating, tighter government regulations, and widening investment in strategic developments by Major Players by major players are the major factor driving the growth of the South America UV curing system market. However, bounded depth of curing hinders the growth of South America UV curing system market.
The South America 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 South America 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 South America UV curing system market is segmented into Brazil, Argentina, and Rest of SAM. In 2020, Brazil held the largest market share; and Argentina is expected to grow at the fastest CAGR during the forecast period.
American Ultraviolet, Excelitas Technologies Corp., Hanovia-uv, Heraeus Holding, Nordson Corporation, and Phoseon Technology are among the leading companies in the South America 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, Phoseon launched the the latest UV LED curing solutions for flexographic printing applications at the FTA Fall Conference 2021 event.
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