Growing demand for advanced curing processes in the coming years will be the major driving factor for growth in the UV LED market between 2016 and 2025
The UV LED market is US$ 178.4 million in 2016 and is estimated to reach US$ 1,311.7 million by 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 Curing is major application of UV lights, and As UV curing is used in a wide range of industries and manufacturing plants, the demand for UV LED’s anticipated to grow in coming years. There has been progressive adoption of UV LED by the curing equipment manufacturers in Japan, Europe and U.S due to forthcoming worldwide ban on mercury vapor lamps resulting into large wave of UV LED demand with respect to the modification and replacement of traditional curing equipment. This rise in implementation of UV LED in various industries is driving the UV LED market by 24.9% between 2017 and 2025.
Global UV LED market has been categorized by technology majorly into three categories; UV-A LED, UV-B LED and UV-C LED. 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, photocatalytic 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.
UV LED market by application is segmented into curing, medical, electronic devices, water treatment (purification & waste water management), security and others (mineralogy, astronomy, pest control and home cleaning). The UV curing application segment is expected to account for the largest share of the UV LED market in 2016; whereas, water treatment is expected to grow at the highest CAGR during the forecast period. The growth of the UV LED application in water treatment is majorly attributed towards the ability of LED technology to enable the UV water treatments to be utilized in applications that weren’t available formerly to conventional UV lamps. This has further allowed the remote regions to make use of UV LEDs for waste water treatment and purification.
Some of the major players influencing UV LED market are LG Electronics, Inc, Crystal IS, Nichia Corporation, Phoseon Technology, SemiLEDs Corporation, Seoul Viosys Co. Ltd, Halma PLC., DOWA Electronics Materials Co., Ltd Corporation, Heraeus Holding GmbH, Koninklije Philips N.V., among others.
