Global UV LED Market is expected to reach a market size of ~US$ 1,100 million by 2028: Ken Research

0


UV radiation is a form of electromagnetic radiation or energy emitted by the sun and man-made sources such as phototherapy, welders, tanning beds, and solariums. Additionally, they are categorized into three categories: ultraviolet A (UV-A), ultraviolet B (UV-B), and ultraviolet C (UV-C). UV Light Emitting Diodes (LEDs) are a form of electromagnetic radiation that emits light in the ultraviolet (UV) spectrum at a higher frequency, which is used in a variety of applications, such as light curing, disinfection, military, plant factory (an indoor vertical farming system), exhaust gas treatment, gemological, and medical fields. The significant advantage of using UV LEDs is that they are environmentally friendly as they consume less energy, do not contain harmful mercury, and do not generate ozone.

According to Ken Research Analysis, the global UV LED market was valued at ~USD 350 million in 2017, it is estimated to be ~USD 600 million in 2022, and is expected to reach a market size of ~US$ 1,100 million by 2028 growing with a CAGR of 10%. The growth is primarily attributed to the increasing adoption of smart home devices across countries. The growing trend of horticulture and indoor farming in developing countries is also a major contributing factor to UV LED growth.

Global UV LED Market

For more information, request a free sample @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDI5

Key Trends by Market Segment

By Product Type: The UV-A segment held the largest market share of the Global UV LED Market in 2021.

  • The growth is primarily attributed to its low power consumption, the longest wavelength, deepest penetration, and allowing over 90% of UV radiation to pass through the earth’s atmosphere.

For instance, according to World Health Organization (WHO), a government agency of the United Nations (UN), UV-A has a longer wavelength than UV-B and UV-C and accounts for approximately 95% of UV radiation reaching the earth’s surface. The wavelengths covered by various types of UV radiation are classified below:

  • UV-A (315-400 nm)
  • UV-B (280-315 nm)
  • UV-C (100-280 nm)
  • In addition, such features increase the use of UV-A LEDs in curing applications including 3D printing, photolithography/photoresist, photostability, and other photochemical reactions, as well as forensic investigations like the examination of biological stains, untreated blood, and latent fingerprints at crime scenes.

Global UV LED Market

For more information, request a free sample @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTk2MDI5

By Application: The disinfection/purification segment held the largest market share of the Global UV LED Market in 2021.

  • The individuals growing inclination toward the consumption of intensely treated or purified water due to increasing cases of water-borne diseases, such as giardia, microbial, and legionella across countries, resulting in increased adoption of UV LED water purification systems. In addition, such systems help in the prevention of bacteria and other microbiological pollutants.
  • For instance, in July 2022, National Sanitation Foundation (NSF), a U.S.-based non-profit organization devoted to product testing, inspection, and certification organization, stated that UV LED disinfection systems have the potential to destroy nearly 100% of waterborne disease-causing bacteria and viruses.
  • The increasing government investments in water infrastructure, particularly following the outbreak of the COVID-19 pandemic, to endorse clean water and resilient infrastructure that publicizes community and environmental health, as well as its effects on individuals across countries, are driving demand for UV LEDs for disinfection/purification.
  • For instance, in December 2021, the Government of Canada announced a USD 19.2 million joint funding investment in four projects in British Columbia to support drinking water and wastewater infrastructure.

Global UV LED Market

By End User: The industrial segment accounted for the majority share of the Global UV LED Market in 2021.

  • The growing demand for UV light therapy in the medical field for treating a variety of skin treatments/conditions such as psoriasis, eczema, vitiligo, and cutaneous T-cell lymphoma is supporting the demand for UV LEDs in the Industrial segment.
  • Furthermore, UV radiation on skin spots typically has a strong effect that stimulates skin metabolism and improves the skin’s strength, which can help cure skin diseases, such as vitiligo and pityriasis rosea, and therefore in the medical industry, UV treatment now has more application areas.

By Geography: North America accounted for the largest market share in the global UV LED market in 2021.

  • The growth is primarily attributed to the increased investment and development of advanced technologies, particularly in economically robust countries, including the United States and Canada.
  • The surging emergence of manufacturing advancement is expected to drive demand for more efficient and robust UV processes such as curing, printing, adhesives, and lithography.

For instance, in May 2021, the Richard King Mellon Foundation, a U.S.-based non-profit organization, granted USD 150 million to Carnegie Mellon University (CMU), a U.S.-based research institute, to support the construction of a new robotics innovation lab, and advanced manufacturing institute at Hazelwood Green.

  • The Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period (2022-2028), owing to the rising government initiatives to support the regional healthcare sector, particularly following the outbreak of the COVID-19 pandemic, with advancements in DNA analysis, protein synthesis, drug discovery, and vitamin analysis, all of which rely heavily on UV LEDs.

Global UV LED Market

To more regional trends, Ask for a Customization @ https://www.kenresearch.com/ask-customization.php?Frmdetails=NTk2MDI5

Competitive Landscape

The Global UV LED market is highly competitive, with ~500 players, including globally diversified players, regional players, and a large number of country-niche players, each with their emerging deep-UV (DUV) chip-scale technologies due to significant advancement, as well as increasing interest in the development and deployment of disinfection systems using compact devices that emit in the deep-UV spectral band with wavelengths ranging from 200 to 280 nm. The industry’s ongoing progress in chip-scale solutions for deep-UV light sources is expected to drive demand for UV disinfection in the forthcoming years.

Country-Niche players control about ~65% of the market, while regional players hold a share of ~25%. Some of the major players in the market include Koninklijke Philips N.V., Nichia Corporation, Nordson Corporation, Phoseon Technology, SemiLEDs Corporation, Seoul Semiconductor Co. Ltd., Crystal IS, Inc., Lumileds Holding B.V., L.G Electronic, Sensor Electronics Technology and among others.

Global UV LED Market

Recent Developments Related to Major Players and Organizations

  • In September 2022, Nichia Corporation, a Japanese chemicals company, announced that it will begin mass production of its new UV-C LED radiant flux in December 2022 to help target the inactivation and sterilization of multiple bacteria and viruses, precisely in industrial water and air applications.
  • In May 2022, Fujifilm, a Japanese photography company, launched the Activ Hybrid LED UV retrofit system, to be installed on new presses or retrofitted to existing equipment by label and packaging converters. In addition, the system combines high-power, low-heat LED UV curing technologies with Fujifilm’s ink expertise to strengthen label production on narrow web presses.
  • In April 2022, Intertronics, a UK-based distribution company, launched its new range of LED UV curing flood lamps, namely the ‘DymaxBlueWave FX-1250 LED UV Curing Flood Lamp,’ which can cure LED matched UV curable adhesives, coatings, and inks with high uniformity, irradiances UV light.
  • In March 2022, Roland DG Corporation, a Japanese company that provides digital printing solutions, announced the introduction of a new 4-color UV-LED flatbed printer named ‘EU-1000MF’ to its existing EU series.
  • In January 2021, Canon, a Japanese manufacturer of optical, imaging, and industrial products, collaborated with Plockmatic, a Japanese manufacturer of a wide range of document finishing and feeding systems, to create a new high-speed UV LED coating solution for Canon varioPRINT iX-series printers.

CONCLUSION

The  Global UV LED Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 is forecasted to continue an exponential growth that is witnessed since 2017. The major driving factors contributing to the expansion of UV LEDs is increasing prevalence of water-borne diseases across countries, along with the Increasing government energy-saving policies, and strategies. Though the market is highly competitive with around ~500 participants, few country-niche players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.

Market Taxonomy

By Product Type      

  • UV-A
  • UV-B
  • UV-C

By Application          

  • Light/UV Curing
  • Medical Field
  • Disinfection/Purification
  • Counterfeit Detection

By End User

  • Healthcare
  • Residential
  • Industrial
  • Commercial

By Geography

North America

  •  U.S.
  •  Canada
  •   Mexico

Europe

  • Germany
  • UK
  • France
  • Italy
  •  Spain
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific

LAMEA

  •  Latin America
  • Middle East
  •  Africa

Key Players  

  • Koninklijke Philips N.V.
  • Nichia Corporation
  • Nordson Corporation
  • Phoseon Technology
  • SemiLEDs Corporation
  • Seoul Semiconductor Co. Ltd.
  • Crystal IS, Inc.
  • Lumileds Holding B.V.
  • L.G Electronics
  • Sensor Electronics Technology

Share.