Published Date : Sep 19, 2016
Albany, NY, Sep 19, 2016: MarketResearchReports.biz now features a report, titled “Global UV LED Technology Market 2016-2020.” Each and every aspect of this market is covered under the report for a coherent understanding of the global UV LED technology market. The report provides a comprehensive evaluation of various factors influencing the market and the extent of their impact on the growth.
The low cost of manufacturing of LEDs will drive the growth of the global UV LED technology market. The utilization of large-size wafers in the manufacturing of LED chips will allow manufacturers to produce more LED chips per wafer. This is projected to reduce the overall cost of production, thereby facilitating large scale production of high-power UV LEDs. Moreover, the compact size of UV LEDs coupled with their low maintenance cost is promoting the demand for this technology across various industries including ink, adhesives, disinfection and purification, and coating. Furthermore, the increasing regulatory pressure globally on restricting products containing mercury is anticipated to augur well for the implementation of UV LED technology.
Other factors such as low energy consumption, zero warm-up time, low heat dissipation rate, and enhanced durability are likely to boost the adoption of UV LEDs. On the other hand, there are design and integration challenges associated with the manufacturing of UV LEDs. This makes them susceptible to operational issues, thereby posing a threat to manufacturers in the global UV LED technology market. However, the future growth of the market will be driven by novel applications in consumer electronics such as flat panel display manufacturing for touch screens, OLED televisions, and mobile phones.
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The report offers insights into the market’s growth across various segments in terms of revenue. Based on application, UV curing was the leading segment in 2015 and is anticipated to retain leadership until 2020, with a share of more than 48% of the overall market revenue. The rising adoption of UV LEDs for curing purposes in the wood coating and printing industries is contributing to the growth of the segment. Geographically, the global UV LED technology market is segmented into APAC, Europe, North America, and Rest of the World (RoW). Based on technology, UV-A technology segment will continue to maintain its dominance until the end of 2020, with a share of 87% of the overall market revenue. The growth of this segment can be attributed to the rapidly increasing applications of UV-A technology in commercial and industrial sectors due to their ease of manufacturing, long lifespan, and low cost.
The global UV LED technology market is highly competitive, with numerous vendors competing on the basis of reputation, quality, price, and delivery capabilities. Most of the players in the market are adopting blue ocean strategies to maximize their profit. Some of the key vendors are Crystal IS, Hexatech, LG Innotek, Nichia, Philips Lumileds, and SemiLEDs. Some of the other prominent vendors are Heraeus Holding, Integration Technology, Luminus Devices, Nordson, and Panasonic.
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