UV LED Market: Overview
The market size for UV LED was USD 372.5 million in 2021, and it is projected to grow at a CAGR of 21.4 percent during the forecast period. The main advantage UV LEDs have over UV Lamps is that they have a narrow band compared to UV lamps. As a result, the probability of exposure to the wrong wavelength decreases significantly. The applications, such as printing and medical operations, were exploited the most during the initial years. For instance, in September 2020, Epson declared the SureColor SC-V7000 flatbed UV LED printer to meet the requirements of signage businesses that focus on faster throughput and a lower total cost of possession without compromising on results.
The UV LED market is anticipated to grow with new applications such as disinfection, that is, air and water purification system that works on UV-C technology. New technological development such as replacing mercury lamps, flux density, and excessive performance with a high wavelength is also fostering the growth of the UV LED market. One of the emerging trends concerning the industrial application of UV LED is enhancing the demand for UV curing solutions that combine coating, printing, and adhesives and the evolution of UV lamps to UV LED.
Furthermore, the increasing trend of horticulture and indoor farming in developing nations and enhancing the adoption of counterfeit currency detection systems are key industry drivers. For instance, in January 2021, Daan Roosegaarde, a Dutch artist and innovator, introduced the GROW project, a vertical light installation motivated by photobiology light science technologies, which indicated some combinations of red, blue, and UV light could enhance plant growth and nearly halve pesticide utilization.
UV LED Market: COVID-19 Impact
With the outbreak of COVID-19, the UV LED market is witnessing significant growth in demand due to its utilization in disinfecting surfaces and germ-killing properties. Various countries, such as China and the United States, use UV lamps to clean surfaces and prevent people from getting infected. As per Photonics Media, COVID-19 has enhanced the demand for UV LEDs that disinfect spaces. Furthermore, Ultraviolet C (UV-C) Sterilization LED Lighting is one of the growing markets in the COVID-19 pandemic that mainly aims to sterilize germs for surface contacts. Low-pressure Mercury UV-C Sterilization light is utilized as it consumes more energy and requires wait time to start the sterilization cycles. Thus, UV-C LED lighting has become popular, and companies are investing resources to design UV-C LED light fixtures in hotels, car trains or hospitals. For instance, In January 2021, OSRAM released their new movable UV-C air cleaner that combats viruses and bacteria in this pandemic scenario of COVID-19. The invisible ultraviolet light shatters viruses and bacteria with a reliability of 99.9%.
UV LED Market: Drivers
Increased Concern for Water Purity Drive Market Growth
The growing concern for water purity in developed and developing nations presents a substantial growth opportunity for UV LEDs to be adopted by consumers in both commercial and residential sectors. The increase in the world population and the scarcity of pure water have attracted various UV LED manufacturers toward the untapped water purification application market. As per International Ultraviolet Association (IUVA), the portion of the UV spectrum most essential against germs in water and air ranges between 200nm and 300nm. This correlates to UV-C and some of the UV-B range, often called "germicidal UV" light. Within such a range, UV light can penetrate the cells of microorganisms and obstruct their DNA, removing their ability to multiply and cause disease. UV germicidal irradiation has been in the disinfectant industry for years. This process used short-wavelength UVC light to destroy microbes from 100 to 280 nm, but the most effective wavelength for decontamination is between 250-260 nm.
Several Strategies by Key Players Drives Market Growth
Several companies are focusing on product innovation and strategic alliances to strengthen their presence which is anticipated to boost the global UV LED market during the forecast period. For instance, in May 2022, Signify NV acquired Fluence for USD 272 million. This acquisition aimed to strengthen Signify's position in the agricultural lighting market in North America. Additionally, in March 2020, Nichia aimed to expand its dominance in the UV market following its showcase at the RadTech 2020 conference and exhibition in Orlando. Nichia anticipated its UV portfolio to play a significant role in completely replacing conventional mercury lamps and their associated environmental issues.
Furthermore, in January 2021, Sensor Electronic Technology and Seoul Viosys, global providers of UV LED technology and subsidiaries of Seoul Semiconductor, partnered to introduce their new Violeds technology that can rapidly and effectively destroy 99.437% of SARS-CoV-2 in less than one second. The testing was conducted in December 2020 through KR Biotech, a South Korea-based research institute specializing in sterilization testing of the new COVID-19 virus. Moreover, in May 2020, Seoul Viosys announced that customer inquiries for its Violed UV LED products that can be utilized to sterilize bacteria enhanced more than five times over March, fuelled by concerns over the continuing global expansion of the virus causing COVID-19.
UV LED Market: Restraints
Expensive Installation and Additional Costs to Hamper Market Growth
Remarkable thermal complications in UV LEDs, wherein only half of the total energy is converted to UV light. In contrast, the rest is converted to heat, which will hinder the expansion of the UV LED market. The technology doesn't always produce the desired outcome and is more costly than competitive products. Moreover, high installation expenses and the investment required for production might hamper the global UV LED market during the forecast period.
UV LED Market: Segment Overview
Disinfection and Sterilization to Dominate Market due to Increasing Use of Such Systems in Water Treatment
The disinfection and sterilization segment will grow during the forecast period due to the growing utilization of such systems in water treatment and purification facilities. UV-C LEDs are integrated into POU purifiers to protect households and families from ordinary pathogenic sources of water-borne diseases. These devices use UV LED to defend against bacteria and other microbiological pollutants. The demand for advanced sterilization and disinfection systems in European countries will open up the latest markets for UV LED manufacturers. Various players are developing new products that utilize UV LEDs to obtain a competitive edge in the market. For instance, in October 2021, Nichia Corporation introduced a high-power 200mW UV-C LED and has begun mass production of another new high radiant flux UV-C LED to assist the inactivation and sterilization of numerous bacteria and viruses, particularly in industrial water and air applications, where NC4U334BR activates new industrial water and air purification opportunities.
With Increased Business Opportunities, UV A Category Dominated Market
In the forecast period, the UV A segment held the largest market share, and it is anticipated that it will continue to rule the market during the forecast period. The key element determining the segment's growth as it provides various lucrative business opportunities for the market players. The UV A LEDs were traditionally utilized for UV curing, validation, and counterfeit detection. The demand for this technology is majorly driven by its capability to consume lesser power output. In addition, UV-A LEDs offer numerous high-end qualities, such as low power consumption, essential elimination, and short-wavelength energy. These features increase their utilization in forensic investigation, such as examining biological stains, untreated blood, and latent fingerprints at crime scenes. Furthermore, UV-A LEDs have an inexpensive ownership cost, better efficiency, and miniaturization properties, which offer significant benefits over conventional curing technologies such as fluorescent and mercury and may expand industrial demand. Companies are heavily working on adopting UV LED technology to provide high-end products and remain competitive in the market.
UV LED Market: Regional Landscape
Asia Pacific to Dominate Market due to Growing Government Initiatives
Asia Pacific UV LED market is estimated to hold a prominent share in the global UV LED market over the forecast period owing to the beneficial government initiatives to assist the regional healthcare & pharmaceutical sector. The industry's growth is attributed to the pharmaceutical sector's increasing utilization of UV LEDs. Various bio-pharmaceutical procedures, such as phototherapy, DNA analysis, protein synthesis, the discovery of new drugs, and vitamin analysis, extensively utilize these LEDs. The use of UV LED is increasing nowadays, which is helping to boost the UV LED Market growth. Furthermore, Japan is a hub for technological development and is home to an active R&D facility for more modern and effective UV-curable adhesives. Market vendors based in Japan are making large investments to keep up with the growing utilization of UV LEDs, such as disinfection and sterilization.
The Europe UV LED market will significantly grow during the forecast period as UV LEDs are majorly adopted in healing systems. They provide high sensitivity in several industrial applications, including coating, printing, and adhesion. Various companies in this region provide UV LEDs to protect against contaminants and bacteria. For instance, in June 2022, Seoul Viosys Co., Ltd. provided its latest technology of Violeds to UK-based Typhon Treatment Systems Ltd. This technology, which utilizes UV LED to protect against contaminants and bacteria, is energy-efficient and will assist in diminishing costs compared to existing UV lamps utilized in treatment plants.
Global UV LED Market: Competitive Landscape
In May 2021, Epple Druckfarben and Zeller + Gmelin, the German ink companies, declared a collaboration in UV ink technology. The new partnership’s initial product is a jointly produced UV LED ink for the sheetfed offset industry. Moreover, In January 2021, RMGT announced UV LED partnership with GEW. RMGT formally embraced the high-performance GEW product as its definitive new solution in pursuit of ongoing technology improvement after months of evaluating all major UV LED manufacturers.
Few of the players in the UV LED Market include Signify NV, Nikkiso Co., Ltd., Nichia Corporation, DOWA HOLDINGS CO., LTD., NITRIDE SEMICONDUCTORS Co., Ltd., Seoul Viosys Co., Ltd., LITE-ON Technology, Inc., Epitop Optoelectronic co., LTD., ams-OSRAM International GmbH, and Crystal IS, Inc.
Regional Classification of the Global UV LED Market is Described Below:
Middle East and Africa
*Regions and countries are subject to change based on data availability
Key Elements Included In The Study: Global UV LED Market
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