UV LED Market is forecast to reach $1.2 billion by 2026, growing at a CAGR of 20.3% from 2021 to 2026. The UV LED Market is estimated to witness a sustainable growth over the forecast period majorly because of the environment friendly features for use in various applications. Rise in Environmental concerns is one of the major driving factors of UV LED Market in global level. Moreover, with the ongoing governmental regulations in global market for deploying energy-efficient lightings such as LED lightings, which tend to create a major impact in the rapid adoption of UV LEDs.
Ultraviolet light occurs between the visible and x-ray spectrums. The Ultraviolet wavelength range is specified between 100 nm to 400 nm which categorizes UV LEDs into three different types. However, many photoelectric manufacturers also consider wavelengths as high as 430 nm to be in the UV range. The replacement of CCFL with LEDs made of Silicon Carbide, Gallium Nitride and other materials will drive the demand in UV Curing and medical phototherapy applications.
UV LED Market Segment Analysis - By Type
Ultraviolet C (UV-C) has dominated the UV LED Market with a share of 46.5% in 2020. In general, UV-C LEDs have wavelength range of 275 nm (280-100 nm) and they are available in different power levels and styles. Offering different operations in various industries, UV-C is available in different light sources such as single, chip-on-board and strip module of different specifications. Longer strip lengths with higher outputs is one of the widely used type. LED's have been increasingly used in applications where UV lamps (mercury, xenon, amalgam, excimer) have operated for decades. Improvements in UV-LED flux density, stability and life hours have made UV LEDs a viable solution for replacing traditional UV light sources such as mercury arc lamps, arch lamps, hot and cold cathode lamps and grid lamps. UV LEDs are more environment friendly as they do not contain harmful mercury, they do not produce ozone and consume less energy as well. These major advantages uplift the demand of UV LEDs, particularly using Silicon Carbide and Gallium Nitride materials which is expected to propel its market growth in forecast period. UV-C LED usage is rapidly growing in applications such as germicidal (UVGI) for air, surface and water purification.
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UV LED Market Segment Analysis - By End Use Industry
UV LEDs are widely used for different Healthcare and Sterilization applications and are projected to grow at a CAGR of 23.4%. UV LED Curing uses light-emitting diodes which convert electrical current into light. When the electrical current flows through an LED, it gives off ultraviolet radiation. The ultraviolet light causes chemical reactions in the molecules within the liquid, forming chains of polymers until the liquid becomes a solid. This process is a new technology which was designed to provide solutions to many of the issues found in traditional UV curing and heat-set drying. UV LED curing offers all the benefits of traditional curing, and also provides solutions to the negative environmental impact. This new technology reduces heat radiation and offers instant on-and-off switching. UV LED curing also does not require the use of moving parts which further reduces the amount of energy required. All these advantages tend to boost its demand in Healthcare and Purification industries which uplift its market growth.
UV LED Market Segment Analysis - By Geography
Asia-Pacific accounts for being the highest market at 34.6% in 2020. The market growth in this region is predominantly rising due to leading economies such as China, India, Japan and Others. As Asia-Pacific region holds the largest population and is covered by largest ocean, the demand for freshwater has been high at different industrial as well as residential sectors. Thus, the demand for water sterilization and purification processes is of great extent. This demand enhances the market growth of UV LED in this region. According to World Bank Reports, investments done in water and sanitation in Asia-Pacific region is highest and has been increasing rapidly from $50M to $910M in recent years. These tend to propel the market growth of UV LEDs using Silicon Carbide and Gallium Nitride materials in forecast period as freshwater demand will always be high. Asia-Pacific is closely followed by North America in the UV LED Market growth due to presence of major market players in this region which provides technology upgrades in UV LEDs.
UV LED Market Drivers
Rise in Environmental concerns drives market growth
With the rising Environmental concerns at global level, the adoption of UV LEDS for various applications in different industries tend to drive its market growth. LED's have been increasingly used in applications where UV lamps (mercury, xenon, amalgam, excimer) have operated for decades. Improvements in UV-LED flux density, stability and life hours have made UV LEDs a viable solution for replacing traditional UV light sources such as mercury arc lamps, arch lamps, hot and cold cathode lamps and grid lamps. With the rising Environmental concerns, the adoption of UV LEDs came into play. UV LEDs are more environment friendly as they do not contain harmful mercury, they do not produce ozone and consume less energy as well. These major advantages uplift the demand of UV LEDs which is expected to propel its market growth in forecast period. UV-C LEDs is rapidly growing in applications such as germicidal (UVGI) for air, surface and water purification. UV LED curing provides solutions to the negative environmental impact as it offers improved flux density, stability and long-life hours which makes UV LEDs a viable solution for replacing traditional UV light sources such as mercury arc lamps, arch lamps, hot and cold cathode lamps and grid lamps which drives its market growth in the forecast period.
UV LEDs offers compactness and long durability
UV LEDs do not contain toxic mercury and are often found in CCFL technology. They are much smaller and more durable than CCFLs and are more resistant to vibration and impact, resulting in less product breakage and reduced waste and maintenance expense as well. These advantages tend to drive its market growth in forecast period. The overall heat generated by the UV LEDs is considerably low. The UV LED lamps based on Silicon Carbide and Gallium Nitride materials reaches a maximum of 40 degree Celsius, whereas mercury lamps heat up to more than 60 degree Celsius. Low-pressure germicidal lamps which are traditionally used in these applications are typically associated with lifetime claims of 8000 to 10,000 hours. As a solid-state device, UV-C LEDs can be cycled on/off tens of thousands of times with little or no observable difference or degradation in performance. UV-C LEDs also offer a near-instant capability to provide full rated output, requiring no warmup time which makes it available for 25,000 to 100,000 hours. These advantages tend to drive its market growth in global market.
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UV LED Market Challenges
High Installation Cost
One of the major challenges faced by UV LED Market globally is the high installation cost. UV LEDs are comparatively costlier than other alternatives. This tend to restrain its demand of UV LEDs thus bringing major challenge in its market growth. Several other challenges have been expected to hinder the market growth by hampering the adoption of UV LEDs using Silicon Carbide and Gallium Nitride materials, specifically for those in the UV-B (280nm – 315nm) and UV-C (100nm-280nm) spectral regions. LED manufacturers are struggling to improve the light output and efficiency while at the same time increases the reliability and useable life of the LED. Improvements are being made, but this has brought an exponential rise in the overall cost of these UV LEDs. This brings a major challenge in the market growth of UV LEDs in forecast period.
UV LED Market Landscape
Product launches, acquisitions, and R&D activities are key strategies adopted by players in the UV LED Market. The UV LED Market is dominated by major companies such as Lumileds Holding BV, Nordson Corporation, Seoul Viosys Co.Ltd., Honle UV America Inc., LG Innotek Co. Ltd, Halma Plc, Heraeus Holding Gmbh, Hnle Group, OSRAM, Koninklijke Philips N.V., Crystal IS, Sensor Electronic Technology, Phoseon Technology.
Acquisitions/Technology Launches/Partnerships
In January 2021, Sensor Electronic Technology (SETi) and Seoul Viosys, the leading global providers of UV LED technology and subsidiaries of Seoul Semiconductor, partnered together to launch their new Violeds technology that can quickly and effectively kill 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 coronavirus.
In January 2021, OSRAM launched their new portable UV-C air purifier that fight against viruses and bacteria in this pandemic situation of Covid-19. The invisible, ultraviolet light destroys viruses and bacteria with a reliability of 99.9 percent.
Key Takeaways
The UV LED Market is estimated to witness a sustainable growth over the forecast period because of the rising environmental concerns for adopting eco-friendly lighting systems at various industries.
The other factor responsible for the growth of UV LED Market are the various environmental friendly features it offers to the sterilization industry and different disinfection processes such as of water, air and different surfaces.
In addition, increasing safety concerns over water-borne diseases have brought an increase in people's awareness of consuming treated water. The growing awareness of the benefits of treated water consumption has impacted the applications UV LED that tend to propel its market growth.
The scope for a UV LED is becoming abundant in sterilization applications, as it is being proved to be one of the cheapest way to provide safe drinking water across the globe. This safety benefits are expected to enhance the demand of UV LEDs in global market further uplifting its market growth
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