The Global Market for UV LED Technology is Projected to Exceed $440 Million by 2020
Promising UV-LED Curing Applications to Drive the
Global UV-LED Technology Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches
comprehensive analysis of industry segments, trends, growth drivers, market
share, size, and demand forecasts on the global UV LED Technology market. The
global market for UV LED Technology is projected to exceed $440 million by 2020,
driven by promising new applications of UV LED curing in the printing,
coatings, and adhesive industries.
Ultraviolet (UV) LEDs represents LED based UV light sources capable of
producing ultraviolet radiation that can be used for various purposes, with curing
representing the largest application. Superior attributes of UV-LED that are driving its widespread adoption
include enabling thinner heat-sensitive substrates; low energy consuming lamps
and curing; offering long lifetime/downtime benefits; easy on/off switching
capability; savings in terms of operating costs as well as capital costs;
consistent UV output; health and safety benefits; ozone free and hazardous
materials free environmental benefits; compact and flexible design benefits;
and minimal heat production. UV LED technology continues to exhibit strong
growth driven by its steady penetration in the booming UV curing market supported
by its superiority over legacy technologies such as mercury lamps. Robust
demand for LED-powered UV curing in ink, adhesives and coating industries, in
addition to newer applications such as disinfection and purification are
primary growth drivers in the market. The growing regulatory pressure across
the world on restricting products containing mercury is also expected to bode
well for the UV LED technology.
Future growth in the market will be driven by novel applications such as
water, air and surface disinfection and purification; and flat panel display manufacturing
for mobile phones, touch screens and OLED Television, among others. UV LED
technology will also find use in curing ink for decorative bottle printing.
Printed ink on glass containers for luxury consumables such as high-end health
and beauty products, spirits, beer, cider, and wine will make use of UV LED curing technology for enhanced
print quality. UV LED also enables printing Braille for rapid flexibility and
personalization of labels and other packaging. Spectroscopic instruments have
lately become less expensive with the integration of new UV LEDs which make
them lighter and compact. Point-of-use water sterilization systems are expected
to emerge as yet another major growth opportunity for UV LEDs in the near term.
The use of UVC LEDs will extend even to food, workspace and air sterilization
in the coming years, thus benefiting market expansion.
As stated by
the new market research report on UV
LED Technology, Asia-Pacific represents the largest and the fastest growing
market worldwide with a CAGR of 46.6% over the analysis period. The growth in
the region is driven by rapid UV LED technology penetration across all
applications, including the use of UV LED lamps in gemstone identification,
photocatalysis and currency detection. UV LED lamps are expected to take over
the digital UV printing market in a significant way in the coming years.
Key players covered
in the report include Advanced Optoelectronic Technology Inc., Air Motion
Systems, Crystal IS, Dowa Electronics Materials Co. Ltd., EPILEDS Co. Ltd., Excelitas Technologies®
Corp., Genesis Photonics Inc., HexaTech Technology, High Power Lighting
Corporation, Lextar Electronics Corporation, LG Innotek, Luminous Devices Inc.,
Nichia Corporation, Nikkiso Co. Ltd., Nitride Semiconductors Co. Ltd., Panasonic
Corporation, Philips Lumileds Lighting Company, Phoseon Technology, SemiLEDs
Corporation, and Sensor Electronic Technology Inc., among others.
The research
report titled “UV LED
Technology: A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive review of market trends,
issues, drivers, mergers, acquisitions and other strategic industry activities
of global companies. The report provides market estimates and projections for
major geographic markets including the US, Canada, Japan, Europe (France, Germany,
Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, and Rest of
Asia-Pacific), and Rest of World. Key application areas analyzed in the report
include UV Curing and Others.
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