According to the new market research report "UV LED Market by Technology (UVA, UVB, & UVC), Application (Industrial (UV Curing), Medical & Scientific (Phototherapy, Sensing), Sterilization (Disinfection) & Security (Counterfeit Detection & Forensic)), and Geography - Global Forecast to 2020", published by MarketsandMarkets, the UV LED Market is expected to reach USD 369.58 Million by 2020 at a CAGR of 23.17% between 2015 and 2020..
Ultra-violet LED (UV LED) is a device which emits UV radiation having wavelength of less than 400nm and has integrated features such as compactness, superior performance, and cost effectiveness. It provides products in almost all segments where high performance and proper safety is required. It plays a crucial role in many applications such as curing, disinfection, phototherapy, equipment sterilization, printing, forensic, and so on.
The consumers' demand for UV LED is expected to increase rapidly in the next five years owing to the availability of technologically advanced UV LED devices, increased demand for UVA and UVC products, and their increasing utility in the disinfection and curing applications.
Some of the big technology giants have entered the UV LED Market recently. For example, Nordson Corporation (U.S.) acquired Dima Group B.V. (Netherlands) in September 2014, Nichia developed its own deep UV LEDs in March 2015, Panacol-Elosol GmbH, subsidiary of Dr. Honle AG and SKC Co. Ltd. (South Korea) entered into agreement in which both the parties would establish a joint enterprise in Korea in order to sell, market, and develop adhesive products, Seoul Viosys launched viophoton technology for the first time which is utilized for the purification of air/water/surface with the help of functional photons of specific energy. Apart from these, many other companies are waiting for the right opportunity to enter the UV LED market.
This report describes the market trends, drivers, and challenges with respect to the UV LED market, and forecasts the market size between 2015 and 2020, segmented on the basis of technology, application, and geography.
This report provides a detailed view of the market across the regions of:
- North America (the U.S., Canada, and Mexico),
- Europe (the U.K., Germany, France, and the Rest of Europe),
- Asia-Pacific (Japan, China, Taiwan, South Korea, Rest of APAC), and
- The RoW (Middle East & Africa and South America).
The competitive landscape of the market shows a number of new product launches, agreements & partnerships across the value chain, with a number of major players around the globe.
Major players in the UV LED market include:
- LG Electronics Inc. (South Korea),
- Koninklijke Philips N.V. (Netherlands),
- Honle Group (Germany),
- Nordson Corporation (U.S.),
- SemiLEDs Corporation (Taiwan),
- Halma Plc (U.K.),
- Heraeus Holding GmbH (Germany),
- Crystal IS Inc. (U.S.),
- Seoul Viosys Co, Ltd. (South Korea),
- Sensor Electronics Technology Inc. (U.S.)
- Nichia Corporation (Japan)
