According to a recent study from market research firm Graphical Research, the global UV LED market size is set to register a significant growth during the forecast timeframe, owing to the diversity of product applications including optical sensing, medical light therapy, and UV curing. These products are increasingly being utilized for ozone monitoring, considering the strong emphasis on environmental research. Top seven trends accelerating product deployment are elaborated below:
Canadian government to invest in UV water disinfection systems
Canada UV LED market share is projected to grow at over 14.5% CAGR through the forecast timeline. Growing government focus toward the development of water treatment plants is fueling growth. UV LEDs effectively eliminate microbiological contamination from water, rendering it safe for drinking.
As the incidence of waterborne diseases had been creating concerns amongst regional population, investments toward clean water infrastructure have been increasing, adding to product uptake. During August 2021, the Canadian and Saskatchewanian governments announced their plans to allocate over $5.3 million toward the regional water infrastructure, whereby UV disinfection devices will be installed across reservoirs.
Rising demand for medical light therapy amongst vitiligo patients across North America
With the growing popularity of medical UV light therapy for skin disorder treatment, several industry participants are investing in product development. These products are used by healthcare practitioners for treating atopic skin conditions including psoriasis and vitiligo.
Recent studies suggest that a large volume of vitiligo cases remain undiagnosed. For instance, a recent study published in the JAMA Dermatology journal suggests that nearly 40% of American adults with vitiligo remain undiagnosed. This population segment can open new avenues for industry participants over 2027, strengthening industry forecast.
Horticulture applications to register higher uptake across APAC
With food security concerns plaguing densely populated countries across Asia Pacific, the significance of UV lighting for horticulture applications has been growing. Horticultural UV lights entail advantages such as overheating prevention, waste heat separation, venting provisions during warmer climate conditions, and energy savings.
To tap the potential of this segment, APAC UV LED market players are introducing application-specific products. In June 2021, for instance, Hongli announced the launch of its PCT 3030 SMD line of products. These solutions include a full spectrum, customizable band that can be adjusted according to wavelength ratios.
Increased deployment by Indian food processing industry
India UV LED market size is expected to contribute a considerable revenue toward the overall industry share from 2021 to 2027, promoted by rising government investments in the food processing sector. In April 2021, the regional government announced that it will invest over $1.4 billion toward the Production Linked Incentive (PLI) scheme. Under this initiative, UV LED technology will be leveraged across frozen food, diary, beverages, and other processed food applications.
China to accelerate investments in UV-based disinfection devices
During the COVID-19 pandemic, Chinese companies had been heavily investing in anti-COVID-19 sterilization devices. The higher safety standards and changing customer requirements have been spurring the advent of innovative UV-C-powered disinfection devices across the region. Through the projected timeline, China UV LED market share is poised to grow at about 22% CAGR, supported by numerous recent collaborations amongst regional market players.
Anticipating steady demand for research activities, European pharma sector amps up product deployment
Thanks to the growing deployment of ultraviolet LED devices across pharmaceutical manufacturing sector, Europe UV LED market forecast appears to be strong. These products are being widely used for biopharma processes such as novel drug development, manufacturing, phototherapy protein synthesis, and DNA analysis.
As per the data published by the European Federation of Pharmaceutical Industries and Associations (EFPIA), Europe-based pharma companies invested more than $44 billion toward R&D activities during 2020. This marks a year-on-year growth of over 5% in 2020 as compared to the previous year.
German automakers to invest in latest automotive UV curing lighting technologies
Germany UV LED market share is slated to grow at nearly 17.5% CAGR between 2021 and 2027. The high rate of adoption can be accredited to increased product use by regional automotive manufacturers for curing applications. As UV adhesive curing systems can boost productivity by minimizing deterioration of components and electronic parts, they can maximize company profits.
According to the latest official figures, sales of regional cars increased year-on-year by nearly 8.5% during January 2022, as compared to the same month previous year. With a large volume of Germans showing growing interest in electric vehicles (EVs), the regional auto industry is slated to be a strong pillar for European industry outlook through 2027.
Spain industry is also staying ahead of the game by adopting latest solutions for industrial printed interior decoration. Integration of UV LEDs in printing solutions is growing, as enterprises are coming up with creative wall designs and attractive surface effects using these products.