Global UV-LED market will reach 360 million US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/8/14

UV-LED has widening applications such as in agriculture, solar product, food industry, disinfect water, sterilization, to perform forensic analysis, surface decontamination, forensic, phototherapy, health and beauty products, curing of materials and flat panel displays for OLED in electronics amongst many others. This is attributable to its advantages such as consistent UV output, high switching capabilities, low power consumption, high cost savings, compact size, and safe operations. The report states that the device will be used across water treatment plants as it is an unconventional method for it consumes less energy when compared to mercury lamps.

Furthermore, UV- LEDs are used in spot curing system as they have narrow frequency band which makes it ideal to be used in thinner, heat-sensitive material as it has cooler temperature and provides various other benefits such as lower energy consumption, no warm-up period, no bulbs to change, and more consistent frequency.

The companies are predominantly working in research and development to step up UV LED technologies, which is creating lucrative growth opportunities for the market.

The global UV-LED market was valued at US$170 mn in 2018 is expected to reach US$360 mn by the end of 2025. The market is expected to rise at a CAGR of 10.0% between the year 2019 and 2025.

Click to view the full report: https://www.qyresearch.com/index/detail/738074/global-uv-led-market
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