UV LED Market Is Booming Worldwide | Lumileds Holding B.V., LG Innotek Co. LTD., Nordson Corporation, Honle UV America Inc

The UV LED market is a comprehensive market research report which provides market analysis with a historical & futuristic perspective for the following parameters; market size, revenue, demand, and supply data (as applicable). The report offers a detailed market analysis to provide a 360-degree research study on the global UV LED market. Some of the tools used for this are SWOT, PESTEL, and Porter's 5-forces analysis frameworks. The report includes detailed information on the key trends, market drivers, challenges, regulatory landscape, deployment models, opportunities, future roadmaps, value chains, player profiles, and strategies. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for UV LED from 2021 till 2026.

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The UV LED Market was valued at USD 294.8 million in 2019 and is expected to reach USD 870.7 million by 2025, registering a CAGR of 20.1% during the forecast period of 2020-2025. 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. As a result, it creates an avenue for the new companies in the market; thus, propelling the market for this technology over the forecast period. Also, the existing players and startups are looking for viable options to capitalize on this growing trend. The startups are expected to adopt UV-C LEDs compared to existing players, owing to the lack of legacy bias toward the germicidal lamps.

- The eco-friendly composition of UV LED is driving the market. The UV LEDs witnesses a rapid adoption and becomes viable alternatives due to their lower energy consumption than mercury bulb lamps. The overall heat generated by the UV LEDs is considerably low. The UV LED lamps reaches a maximum of 40C, whereas mercury lamps heat up to more than 60C. Further, the European Commission periodically reviews RoHS exemptions. Currently, mercury lamps are planned to be expelled under RoHS, owing to their effects on the environment. This factor leads to significant power savings and a higher ROI in the long run.

Top leading Manufacturers Profiled in UV LED Market Report are: Lumileds Holding B.V., LG Innotek Co. LTD., Nordson Corporation, Honle UV America Inc., Seoul Viosys Co., Ltd, Nichia Corporation, Semileds Corporation, Aquionics Inc. (Halma Company), Crystal IS Inc., Heraeus Holding GmbH, Fuji Xerox Co. Ltd

Regional Analysis for UV LED Market:

For a comprehensive understanding of market dynamics, the global UV LED market is analyzed across key geographies namely the United States, Europe, China, Japan, Southeast Asia, India, Central & South America. Each of these regions is analyzed based on market findings across major countries in these regions for a macro-level understanding of the market.

Asia-Pacific to Hold a Major Growth in the Market

- Asia-Pacific is anticipated to gain significant market growth over the forecast period. Vendors based on Japan and China are making major investments in line with the expanding applications of UV LEDs such as disinfection and sterilization, in addition to their expansion activities.

- One of the major vendors, Nichia Corporation, Japan, in April 2019 launched its 280 nm UVC NCSU334A deep blue ultraviolet-outputting LED, which is intended to address the mass-market needs for air sterilization and water purification by using the solid-state lighting. Moreover, the company had considerable success with the innovation and development of its UVA LEDs, specifically designed for resin curing applications.

- Moreover, coating companies in China are investing heavily in intelligent manufacturing. The international brands and the domestic players are joining the new wave of investment. In February 2019, the Hubei province announced that ShenzhenUV-ChemTech LTD and Yihua announced to invest CNY 8 billion to construct the worlds largest UV curing material project. In this project, 20 thousand ton (per year) of photoinitiators, 100 thousand ton (per year) of LED curing coatings, and 80 thousand ton (per year) of monomer resins will be produced.

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The UV LED market is highly fragmented due to various players providing high competition. The major players are striving to gain a sustainable competitive advantage through their innovation, and several new players, like Osram, are making significant investments in the market. Key players are Lumileds Holding BV, LG Innotek Co. Ltd, etc. Recent developments in the market are -

- March 2020 - Nichia is aiming to extend its dominance to the UV market following its showcase at the RadTech 2020 conference and exhibition in Orlando. Nichia expects its UV portfolio to play a significant role in completely replacing conventional mercury lamps and their associated environmental issues.

- May 2019 - Klaran launched a new 60mW UVC LED and Reactor Prototype for water disinfection, demonstrating the NSF Class A performance. In the advanced prototype reactor, the 60mW LED demonstrated effective and affordable water treatment at flow rates up to three liters per minute,

What is the Impact of Covid-19 Outbreak on the UV LED?

- Optimistic Scenario: COVID-19 is contained by May or June, With Normalcy returning to global operations through the End of Q2.
- Conservative Scenario: COVID-19 Remains Prevalent, with Continued Impacts Lasting into Q4.
- Estimated Impact of the Coronavirus (COVID-19) Epidemic on the Global UV LED.
- UV LED Market Size in 2021
- Corporate Strategy the Manufacturers Should Be Thinking About Right Now.

Frequently Asked Questions about the UV LED market:

- What are the recent developments and government policies?
- What are the top trends in the UV LED market?
- What is the growth rate of the market?
- Which Is the Most potential market segment?
- Which are the top industry players in the UV LED market?
- Which region would offer high growth for vendors in the market?

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The research includes historic data from 2015 to 2021 and forecasts until 2026 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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