Press release
UV LED Market 2021-2025 Global Industry Outlook- Lumileds Holding B.V., LG Innotek Co. LTD., Nordson Corporation, Honle UV America Inc.
The Global UV LED Market Report 2021-2025 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide a detailed description of the value chain and its distributor analysis. This Market study provides comprehend UV LED data that enhances the understanding, scope, and application of this report. The study includes market share analysis and profiles of players such as 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, and others.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.
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Industry News:
- 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.
Key Market Trends:
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 world’s 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.
- Furthermore, in South Korea, the growing demand for organic food and fresh water is expected to increase the demand for UV LEDs for horticultural applications and water purification. In March 2020, UNICEF partnered with South Korea to provide water and sanitation services for the vulnerable population (mostly children) in areas hit by violence in Iraq, such as Anbar, Ninewa, and Salah al-Din. The country has contributed USD 1 million for the cause.
- Further, UV LEDs are being used in medical equipment used for phototherapy, drug discovery, DNA analysis, and vitamin analysis. The South Korean government is actively making investments in the pharma sector to help drug development and innovation within the healthcare field. Government agencies related to new drug development have outlined the "National New Drug Development Research Project," which is expected to invest WON 3.5 trillion (USD 2.9 billion) over ten years from 2021.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The UV LED Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
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