IMARC Group, a leading market research company, has recently releases report titled “UV LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global UV LED market share, size and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the UV LED Market?
The global UV LED market size reached US$ 674.3 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,768.3 Million by 2028, exhibiting a growth rate (CAGR) of 16.1% during 2023-2028.
What is UV LED?
Ultraviolet light-emitting diode (UV LED) is a cutting-edge technology that provides a powerful and efficient source of ultraviolet radiation. It emits ultraviolet light in the range of 200 to 400 nanometers, which is invisible to the human eye. It relies on semiconductor materials that convert electrical energy into ultraviolet light, offering advantages, such as longer lifespan, reduced energy consumption, and enhanced control over light output. As a result, it finds applications in curing, disinfection, water purification, and counterfeit detection.
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What are the growth prospects and trends in the UV LED industry?
At present, there is a rise in the demand for UV LEDs in the curing industry, where they are utilized for fast and efficient curing of inks, coatings, adhesives, and other materials. This, along with various benefits offered by UV curing, such as faster production speeds, improved product quality, and reduced energy consumption, represents one of the key factors supporting the market growth.
Moreover, the growing utilization of UV LEDs as a chemical-free and environmentally friendly method for killing bacteria, viruses, and other pathogens is offering a favorable market outlook.
In addition, the increasing demand for UV LEDs, as they consume significantly less energy and do not contain hazardous mercury compared to traditional UV lamps, is strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- UV-A
- UV-B
- UV-C
Breakup by Material:
- Silicon Carbide (SiC)
- Gallium Nitride (GaN)
- Sapphire
- Others
Breakup by Application:
- Curing
- Disinfection/Purification
- Indoor Gardening
- Counterfeit Detection
- Others
Breakup by Industry Vertical:
- Healthcare and Medical
- Agriculture
- Residential
- Industrial
- Commercial
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Asahi Kasei Corporation, Dr. Hönle AG, FUJIFILM Corporation, Heraeus Holding GmbH, Koninklijke Philips N.V., Lumileds Holding B.V., Nichia Corporation, Nordson Corporation, Osram Licht AG (ams AG), Phoseon Technology, SemiLEDs Corporation, Seoul Semiconductor Co. Ltd.
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