Global UV LED Market Share, Analysis And Forecast To 2030

(MENAFN- Straits Research) UV LEDs are solid-state devices that emit light when an electrical current is allowed to flow from the positive side of the circuit to the opposing side. UV LED refers to the use of ultraviolet radiation with a wavelength between 240 and 400 nm to facilitate high levels of productivity, increased levels of safety, and reduced levels of operational costs in various applications. Traditional arc lamps produce an electric arc within a mercury gas to excite atoms, which then decay and release photons as a byproduct of the process. When a voltage is applied, UV LEDs emit a narrow light spectrum at the point where positive holes in doped semiconductors combine with negative electrons.
Multiple technologies, such as UV-A, UV-B, and UV-C, are employed in producing UV LED products. In the past, UV LED was limited to specific applications, including curing, counterfeiting, and forensics. However, due to technological advancements and developments, it is now widely used in numerous applications, including disinfection, purification, indoor gardening, sterilization, and medical phototherapy. The growing popularity of smart home appliances in several developing countries has created opportunities for UV LED market participants. UV technology is increasingly integrated into various innovative home technology products, including smart water purifiers, refrigerators, air conditioners, and advanced kitchen appliances, thereby driving the expansion of the UV LED market. Compared to UV lamps and bulbs, UV LED offers several advanced characteristics, including compact size, high output efficiency, low power consumption, and affordability. Companies that produce electronic devices incorporate UV LED components to create innovative and effective products.
Market Dynamics
Eco-Friendliness Composition and the Growing Adoption of UV Curing Market to Drive the Global UV LED Market
In recent years, growing environmental concerns and ongoing legislative efforts to reduce volatile organic compound (VOC) emissions have been the driving forces behind the development of radiation curing coatings. Therefore, UV LEDs are preferred. In addition, there is increased safety for the operator due to the absence of UV-C radiation emissions. The UV LED does not contain any hazardous metals that are difficult to dispose of. UV LEDs generate considerably less heat than traditional light sources. UV LED lamps reach a maximum temperature of 40° C., whereas mercury lamps can reach temperatures of over 60° C.
Additionally contributing to its eco-friendliness is UV LED technology uses less ink and produces less waste. The sensitivity of inks formulated for UV-LED devices is increased. Suppose the printing presses are outfitted with digital front-end software optimized for LED. In that case, they can apply a thinner layer of ink while still achieving the same results as conventional curing. UV LEDs are effective at producing deep-ultraviolet light, which is used to eliminate a wide range of pathogenic microorganisms. Most deep-ultraviolet light sources are mercury vapor lamps, which contain a highly toxic substance; therefore, UV LED is an eco-friendly alternative to deep-ultraviolet light. UV LEDs are rapidly gaining popularity and becoming viable alternatives to mercury-based light bulbs due to their lower power consumption.
The ink market is expanding faster than the market for graphics and packaging as a whole. Instant drying benefits consumers by increasing production efficiencies and maximizing the decorative and functional properties of inks and coatings. In addition to saving time through instantaneous drying, radiation curing enables several efficiencies throughout the production process. Radiation curing, including ultraviolet (UV) curing technology, is gaining popularity in various industries because its clean and eco-friendly technology increases productivity compared to conventional curing methods. UV LED curing is most commonly used for graphic applications, mainly digital inkjet printing, screen printing, sheetfed offset printing, and flexo printing. These areas are expanding rapidly, with sheetfed offset printing experiencing the most rapid growth and driving the expansion of the UV LED market.
Regional Insights
The Asia Pacific will command the market with the largest market share and grow at a CAGR of 46.21% during the forecast period. The increasing use of UV LED technology in the UV curing process affects the expansion of the regional market. UV curing is preferred over conventional drying because the results are superior, rejection rates are low, and the process improves the solubility and scratch-resistance of the product. UV LED is advantageous for curing purposes in the coating industries because it is more energy-efficient, loses little heat, contains no mercury, and can be manufactured with a significantly smaller footprint and superior optical design than conventional UV lamps.
As a result of their advantages over conventional adhesive systems, the use of UV-curable adhesives in the packaging industry of the region's nations is exploding. The automotive and transportation industries are also considering UV LED curing application implementation. Automotive coatings technology continually develops new, efficient, cost-effective strategies for auto body and paint repair. The range of LED solutions for UV curing is suitable for UV-cured primers and UV-cured body fillers and is designed to accommodate any small or large paint repair job. These factors contribute to the growth of the UV LED market in Asia-Pacific.
Europe will hold a share of USD 2,924 million and grow at a CAGR of 39.1%. In the region's countries, such as Germany, the UV LED market has expanded in multiple directions. The aggressive mergers, acquisitions, and partnerships the region's businesses are undergoing are an excellent indication of this. The system has witnessed strategic advancements for UVA, UVB, and UVC due to partnerships between other market participants and European-based companies. UV inks cure rapidly when exposed to UV light, allowing printers to stack containers and ship immediately, which is one factor that is anticipated to boost the UV LED market in Europe during the forecast period.
In 2013, most European countries implemented energy-saving policies and ratified the Minamata Convention on mercury. This is anticipated to reduce the use of LP UV lamps and create opportunities for the UV LED market, driving demand in all European countries. In this region, the printing industry, healthcare, horticulture, and consumer goods significantly impact the UV LED market. The vast majority of consumer demand is for water purification and disinfection products. A new application has emerged in the healthcare field due to the improvement in presenting UV light of the desired frequency.
Key Highlights

The global UV LED market had a revenue share of USD 738 million in 2021, projected to grow at a CAGR of 39.25% and reach USD 10,434 million during the forecast period.
Based on technology, the UV-C segment is anticipated to hold the largest market share during the forecast period and grow at a CAGR of 46.5%.
Based on application, the sterilization segment is expected to grow at a CAGR of 46.55% and hold the most significant market proportion during the forecast period.
Based on regional analysis, the Asia Pacific will command the market with the largest market share and grow at a CAGR of 46.21% during the forecast period.

Competitive Players in the Market

Lumileds Holding BV (Apollo Global Management)
Koninklijke Philips NV
Nordson Corporation
Honle UV America Inc.
Seoul Viosys Co. Ltd
Nichia Corporation
Semileds Corporation
EPIGAP Optronic GmbH
CRYSTAL IS INC. (Asahi Kasei Corporation)
Heraeus Holding GmbH
FUJIFILM Business Innovation Corp.

Market News

In 2022,
Lumileds Holding BV launched LUXEON HL1Z, an undomed, single-sided emitter that delivers high efficacy from a tiny package.
In 2022,
Lumileds Holding BV launched its new LUXEON CoB Core Pro, retail lighting that delivers excellent light quality, dazzling colors, and ever-increasing efficiency.

Global UV LED Market: Segmentation
By technology

UV – A
UV – B
UV - C

By application

Optical Sensors and Instrumentation
Counterfeit Detection
Sterilization
UV Curing
Medical Light Therapy
Other Applications (Photo Catalytic Purification and Tanning)

By region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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