[Research Report] 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.

Analyst Perspective:

The UV LED market report states that the UV LED market has been experiencing substantial growth in recent years, driven by the increasing demand for UV LEDs across various industries. UV LEDs, or ultraviolet light-emitting diodes, are solid-state lighting technology that emits ultraviolet light at different wavelengths. They offer numerous advantages over traditional UV lamps, including energy efficiency, longer lifespan, compact size, and environmental friendliness. UV LED suppliers are crucial in meeting the rising demand for UV LEDs. These suppliers manufacture and provide high-quality UV LEDs to various industries, such as electronics, printing, and manufacturing. They offer diverse UV LED products, including UV-A, UV-B, and UV-C LEDs, catering to different application requirements.

The applications of UV LEDs are extensive. In healthcare, UV LEDs are used for water and air purification, disinfection, and sterilization processes. They are also widely employed in industrial manufacturing processes, such as curing and drying inks, adhesives, and coatings. Additionally, UV LEDs find applications in counterfeit detection, forensic analysis, and horticulture. The UV LED market is anticipated to grow further in the coming years, driven by advancements in UV LED technology, increasing awareness about energy-efficient lighting solutions, and the growing need for effective disinfection and purification methods. UV light manufacturers will continue to play a pivotal role in meeting the market demand, ensuring the availability of high-quality UV LEDs to support various industries and applications. UV LED lighting has gained significant attention due to its numerous applications and advantages. UV light LEDs emit ultraviolet light, which is useful in various industries such as disinfection, curing, and fluorescence analysis. One specific type is the 250 nm UV LED, which operates at a wavelength ideal for sterilization and germicidal purposes. Additionally, UV-C LEDs have become increasingly popular for their ability to produce UV-C radiation, known for its germicidal properties. The compact size, energy efficiency, and long lifespan of UV LED technology make it a preferred choice for many applications where ultraviolet light is required.

Market Overview:

Ultraviolet (UV) LED technology can produce ultraviolet light from electrical energy. Numerous technologies, including UV-A, UV-B, and UV-C, create UV LED products. The use of UV LED was formerly restricted to particular niche applications, including curing, counterfeit detection, forensics, and others. The UV LED business is anticipated to benefit from the growing tendency towards the creation of sophisticated UV LEDs for novel applications and the development of UV LEDs that are very efficient. The UV LED printer market has experienced significant growth in recent years. UV LED printers offer numerous advantages over traditional printers, such as faster printing speeds, higher resolution, and the ability to print on a wide range of materials. In parallel, the UV LED sterilizer box wholesale market has also witnessed remarkable growth. UV LED sterilizer boxes are efficient and convenient for sanitizing various items, including mobile phones, accessories, baby bottles, and personal protective equipment. Moreover, the UV LED technology market has seen significant advancements and widespread adoption.  This technology is utilized in various applications, such as water and air purification, counterfeit detection, medical devices, and industrial processes. The increasing focus on sustainability and the need for efficient and eco-friendly solutions drives the market for UV LED technology.

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UV LED Market: Strategic Insights

Market Size Value in	US$ 178.4 Million in 2016
Market Size Value by	US$ 1,311.7 Million by 2025
Growth rate	CAGR of 24.8% from 2017-2025
Forecast Period	2017-2025
Base Year	2017

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Market Driver:

Rise in Utilization of UV Curing System to Drive Growth of UV LED Market

The rise in the utilization of UV curing systems has played a crucial role in driving market growth and is a major UV led driver. UV curing refers to using ultraviolet light to instantly cure or dry coatings, inks, adhesives, and other materials. This technology offers several advantages over traditional curing methods, making it increasingly popular in various industries. One of the fundamental drivers of market growth is the superior performance and efficiency offered by UV curing systems. UV curing provides faster and more precise curing than conventional methods such as heat or solvent evaporation. Furthermore, UV curing systems offer significant environmental benefits, further contributing to their market growth. Unlike heat curing, UV curing does not involve the release of harmful volatile organic compounds (VOCs) or the emission of hazardous by-products. UV curing is a solvent-free process, reducing the environmental footprint and minimizing health and safety risks for workers. The shift towards greener and more sustainable manufacturing practices has prompted many industries to adopt UV curing systems as a viable alternative. The versatility of UV curing technology is another factor driving its market growth. UV curable materials can be used on various substrates, including plastics, metals, glass, and textiles.

This makes UV curing systems applicable in various industries, such as printing and packaging, automotive, electronics, and wood coatings. The ability to cure coatings and inks on diverse surfaces expands the potential market and drives the adoption of UV curing systems across different sectors. The rising demand for such high-performance coatings drives the need for efficient and reliable UV curing systems. The UV versus LED curing systems market presents a dynamic landscape. UV curing systems use UV light to cure inks, coatings, and adhesives, providing fast and efficient drying. On the other hand, LED curing systems employ LED technology for the same purpose. UV and LED curing systems have advantages and are preferred in different industries and applications. The market for these systems is influenced by factors such as cost-effectiveness, performance requirements, and compatibility with specific materials. Manufacturers and end-users consider various factors to determine which curing system suits their needs best.

Segmental Analysis:

On the basis of application, the UV LED market is categorized into:

1. Curing
2. Medical
3. Electronics Device
4. Water Treatment
5. Security
6. Others

The curing segment held the largest share of the UV LED market in 2016, whereas the water treatment segment is anticipated to register the highest CAGR in the market during the forecast period. The curing segment is the largest shareholder in the UV LED market due to its widespread adoption across the printing, automotive, electronics, and packaging industries. UV curing systems offer advantages such as faster times, energy efficiency, and environmental sustainability. The printing industry has played a significant role in driving the growth of the curing segment. Advancements in UV LED technology have further expanded the range of applications for UV curing systems, solidifying their dominant position in the market.

Regional Analysis:

The North America UV LED market was valued at US$ 0.036 billion in 2016 and is projected to reach US$ 0.29 billion by 2025; it is expected to grow at a CAGR of 26.1% during the forecast period. North America has emerged as the dominant region in the UV LED market. The region's dominance can be attributed to several key factors contributing to its market leadership. Firstly, North America has a strong presence of major UV LED manufacturers and suppliers. The region has many prominent players in the UV LED industry, including manufacturers of UV LED chips, modules, and systems. These companies have invested in research and development, enabling them to offer innovative products and drive market growth. The established infrastructure and expertise in UV LED technology give North America a competitive advantage, allowing it to dominate the market. Secondly, North America has diverse industries that extensively utilize UV LED technology. These industries include automotive, healthcare, electronics, printing, and aerospace. The demand for UV LED applications such as curing, sterilization, and disinfection is high in these sectors.

The region's advanced manufacturing capabilities and stringent regulations regarding energy efficiency and environmental sustainability have further boosted the adoption of UV LED technology. Thirdly, North America has a strong focus on technological advancements and innovation. The region is known for its robust research and development activities in various industries. This emphasis on innovation has facilitated the development of new and improved UV LED products and solutions. North American companies continuously strive to enhance UV LED systems' performance, efficiency, and reliability, contributing to the region's market dominance. North America's favorable market conditions, such as a well-developed infrastructure, supportive government initiatives, and a strong economy, have played a substantial role in the region's dominance. These factors have fostered a conducive business environment for UV LED manufacturers and end-users, driving market growth and propelling North America to the forefront of the UV LED market.

The Europe UV LED market is witnessing substantial growth, driven by several factors specific to the region. Europe has been at the forefront of adopting energy-efficient technologies and sustainable practices, which has created a favorable environment for the expansion of UV LED applications. One significant driver for the Europe UV LED market is the increasing emphasis on environmental sustainability. UV LEDs offer energy efficiency and longer lifespans than traditional UV lamps, aligning with Europe's focus on reducing carbon emissions and promoting green technologies. This has led to the widespread adoption of UV LEDs in various industries across the region. Furthermore, Europe has a strong presence in the automotive, electronics, and printing industries, which are significant consumers of UV LED technology. UV LEDs are used for curing and drying in these industries, offering faster and more efficient production processes. The region's robust manufacturing base and focus on innovation contribute to the growth of UV LED applications in these sectors. Regarding UV LED suppliers, Europe boasts a competitive landscape with several established players and emerging companies. These suppliers cater to the diverse demands of the regional market, offering a wide range of UV LED products and solutions. Collaboration between UV LED suppliers, research institutions, and industry players fosters innovation and drives market growth in Europe.

The Asia Pacific UV LED market is experiencing rapid growth driven by strong economic development, especially in countries like China, Japan, and South Korea. The region's electronics, printing, and agriculture industries are increasingly adopting UV LED technology for various applications such as sterilization, curing, and pest control. The market benefits from a robust network of manufacturers, suppliers, and distributors, offering a wide range of UV LED products. Government support and favorable regulations for energy efficiency further contribute to market expansion. UV-curable resin usage is relatively low in South Korea, but it is nevertheless significant throughout production. South Korean-based LED manufacturers are about to introduce a new line of UV-C LED goods. Technology-intensive UV-C LEDs are anticipated to contribute to the Asia-Pacific region's market expansion substantially.​ Korean LED manufacturers have contributed substantially to the region's UV LED industry with their advanced technologies, high-quality products, and strong market presence.

These manufacturers leverage their expertise in LED technology and production capabilities to offer a wide range of UV LEDs catering to various applications. They specialize in developing and manufacturing UV-A, UV-B, and UV-C LEDs, ensuring a comprehensive product portfolio to meet the diverse needs of industries. Korean LED manufacturers are known for their focus on research and development, constantly striving to innovate and improve UV LED performance. This commitment to technological advancement enables them to deliver UV LEDs with enhanced efficiency, higher output power, and improved reliability.

UV LED Market Report Scope

Key Player Analysis:

The UV LED market analysis consists of the players such as Koninklijke Philips, L.G Electronic, Crystal IS, Nichia Corporation, Phoseon Technology, SemiLEDs Corporation, Seoul Viosys Co. Ltd, Halma PLC, DOWA Electronics Materials Co., Ltd., and Heraeus Holding GmbH. Among the players in the UV LED Heraeus Holding GmbH and Phoseon Technology are the top two players owing to the diversified product portfolio offered.

Recent Developments:

Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the UV LED market. A few recent key market developments are listed below: 

• In March 2022, Signify collaborated with Perfect Plants on grow lights. Two new climate cells are equipped with dimmable Philips GreenPower LED toplighting compact to grow lights and the Philips GrowWise Control System, providing a light system that can be used effectively and efficiently in every growth phase.
• In January 2021, OSRAM unveiled their new portable UV-C air cleaner to fight against viruses in this Covid-19 pandemic. The invisible ultraviolet light kills viruses with a reliability of 99.9%.