The Global UV LED Market Will Reach $1 Billion In 2023

- May 21, 2018-

According to the relevant survey data, in 2008, the proportion of global LED market revenue and the overall ultraviolet light market revenue was only 8%. Ten years later, that is 2018, today, the proportion is expected to reach 2%, or even three times that of ten years ago.——LED Market

In 2008, ultraviolet LED was considered as a new technology, which is infiltrating into counterfeit detection and UV curing applications. At that time, the LED industry mainly focused on visible light LED for display applications, and looked forward to the emergence of general lighting. During this period, the number of manufacturers of UV LED also increased from 10 in 2008 to 65 in 2018.——LED Market

"In ten years, the number of UV LED companies grew from 10 to 65," said Yole Development technology and market analyst Pierrick Boulay, a French market research and strategy consulting firms technology and market analyst. Since 2010, several visible LED enterprises have turned to UV LED to seek new growth drivers and higher profits.——LED Market

Because of the expansion of enterprises and the entry of more enterprises, the UVA part of UV spectrum is the first market area to substantially reduce prices. The sharp reduction in the price of UVA LED further accelerated the adoption of the technology. However, Yole pointed out that after a few years of the two digit growth trend in the UV Curing Market (80% of the UV LED market), the overall market revenue began to decline, as competitors in the competitive market fell sharply. It is expected that only companies that can innovate in UVA LED and UV will continue to make profits.

The UVB and UVC parts of the UV spectrum are more difficult to develop in terms of performance. Therefore, UVB and UVC LED require more expensive and time-consuming development, resulting in a much higher threshold for new UVB and UVC LED manufacturers. For this reason, the development of UVB/UVC market is much slower.——LED Market

As the UV curing market is beginning to stabilize, Yole predicts that the UV LED industry will also be in a slowdown stage. It is also expected that there will be an expected delay in the market of UV disinfector. "We expect that the UV LED market will increase from $160 million in 2017 to US $320 million by 2020," said Pars Mukish, Yole business unit manager. Then the market will be driven by UVC applications and will grow to $1 billion by 2023.——LED Market

Yole pointed out that a large number of enterprises in the visible LED industry have turned to UV LED. The strategy of UV LED manufacturers is different, depending on the wavelength of their target products. While producers continue to focus on device manufacturing, other manufacturers begin to vertically integrate modules and systems.——LED Market

In addition to UV LED manufacturers, some new entrants (mainly module and system level) are also trying to enter the industry. Yole pointed out that in the pursuit of the ultraviolet lighting market, the only indifferent is the traditional UVC system suppliers, who are taking a "watch" attitude.——LED Market