UV LED Market to Reach US$ 1,311.7 Million at CAGR of 24.8% by 2025 | The Insight Partners

The UV LED market was valued at US$ 178.4 Mn in 2016 and is projected to reach US$ 1,311.7 Mn in 2025; it is expected to grow at a CAGR of 24.8% from 2017 to 2025.

Ultraviolet (UV) lights are an invisible form of electromagnetic energy that travel at high frequencies and generally carries more energy than visible light. UV LED are the light emitting diodes that emit light in these frequencies and wavelength. The wavelength of these LEDs range from 10 nm to 400 nm. UV LEDs are majorly distributed into three types based on its wavelength and applications as UV A, UV B and UV C LEDs. UV A LED are within the wavelength range of 325 – 395 nm and have the largest number of applications between all three LEDs which are in curing, tanning, photo catalytic purification, counterfeit detection and medical phototherapy. UV B LEDs are within the range of 280 – 310 nm and have its major applications in medical phototherapy, and have some applications in tanning, analytical instruments and curing. UV C are the LEDs that comes in the wavelength range of 250 – 275 nm and are the costliest within the three types. These LEDs have low applications in curing and analytical instruments but have very high applications in sterilization, purification, and water, air & surface treatment. The UV LED market in coming years is projected to witness tremendous changes, where majority of the players in the market are anticipated to implement the mass production strategy to increase their revenue. This trend is expected to be largely witnessed in Asian countries (Japan and Taiwan). This trend of adoption of mass production among the industry participants is further anticipated to result into increase in competition and decline in cost of production. Companies like LG Innotek, Nikkiso and Dowa are some of the pioneers encouraging the trend of mass production during the forecast period. The next generation industries thrive for enhanced performance of UV LED curing systems that provide them with improvised and increased irradiance and life. In order to fill this demand and supply gap, the UV LED manufacturers are intensively working towards enhancement of product lifecycle and irradiance of UV LEDs, at the same time they are also focusing upon other functions and components of the system, which includes thermal management and optics.

North America dominated the UV LED market in 2016, North America is a hub of technological developments that compliances with economically robust countries. Thus the manufacturing industry in North America pertains to evolve and remain the principle factor for driving prosperity, jobs and innovation. The manufacturing industry trends in North America, specifically in U.S has been the most influential market trends globally, over since past fewer years. This is majorly due to the regions ability remain the sole bright point during lengthy economic recovery. Also the manufacturing industry in this region gives significant importance to the country’s economy and workforce, which further drives the demand for supremely efficient manufacturing tools. The rising emergence of innovation in the manufacturing is anticipated to drive the demand for more efficient and robust UV processes that includes curing, printing, adhesives, lithography, etc.

Lucrative Regions for UV LED Market

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Market Insights

Global endorsement of energy saving policies

Energy conservation over the years has become a major concern among the nations worldwide. This has further led to evolution of several public initiated policies, one of these is the Minamata Convention. The Minamata Convention on Mercury is an international treaty that is subjected towards protection of environment and human health against the anthropogenic release and emission of mercury and its compounds. As UV LED is a semiconductor device that eliminates the use of mercury and is more energy efficient, the government and private organization across the globe are promoting the adoption of UV LED over UV lamps, across all the industries. For instance the EU commission via its RoHS (Restriction of Hazardous Substances) guidelines have been continually monitoring the prompt progress of capabilities of UV LED. Furthermore, the project UNIQUE by Osram (Opto Semiconductors) is also one of the initiative aimed at ecofriendly purification of water using LED based UVC.

Technology-Based Market Insights

On the basis of technology, the global UV LED market is segmented into UV-A, UV-B, and UV-C. Since past several years UV LEDs have witnessed remarkable growth. This is majorly attributed to technological advances that have been implemented in manufacturing of solid state ultraviolet devices, nevertheless, the burgeoning demand for eco-friendly approaches of producing UV light, which until 2014 dominated by the mercury lamps is now gradually shifting towards LED based UV devices.

Application -Based Market Insights

On the basis of application, the global UV LED market is categorized into curing, medical, electronics device, water treatment, security, and others. UV curing is a photochemical process, which uses high intensity UV light to cure/dry coatings, adhesives or inks. Traditionally these process were conducted with the help of UV lamps. Then in early 20’s UV LED were introduced. Curing process with UV LEDs showcases one the major shifts in industrial dying and printing, assembly and finishing technology. The UV LED based curing is not only energy efficient, but it also produces less heat, its mercury free and quick in terms of switching on and off.

Strategic Insights

Product development is the commonly adopted strategy by companies to expand their product portfolio. Crystal IS Inc., and Marubeni America Corporation, LG Innotek Inc., DOWA Holdings Co. Ltd., among others are the key players implementing strategies to enlarge the customer base and gain significant share in the global UV LED market, which in turn permits them to maintain their brand name. A few of the recent key developments are:

• In 2017, LG Innotek, subsidiary of LGE, released world’s first handrail UV LED sterilizer. This product will remove germs from the handrail of escalators using powerful UV light.
• In 2016, Crystal IS expanded its product line with product name Klaran. These UVC LEDs will target the UVC disinfection of water, air and surface and will be suitable for use in healthcare, lab water and consumer product applications where human safety is of primary importance.

UV LED Market Segmentation:

By Technology

• UV-A
• UV-B
• UV-C

By Application

• Curing
• Medical
• Electronics Device
• Water Treatment
• Security
• Others

Company Profiles

• Koninklijke Philips
• L.G Electronic
• Crystal IS
• Nichia Corporation
• Phoseon Technology
• SemiLEDs Corporation
• Seoul Viosys Co. Ltd
• Halma PLC
• DOWA Electronics Materials Co., Ltd.
• Heraeus Holding GmbH