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Global Market Outlook 2024: Deep UV LED Technologies and Trends
deep UV LED market size
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According to The Business Research Company's, The deep UV LED market size has grown exponentially in recent years. It will grow from $1.06 billion in 2023 to $1.85 billion in 2024 at a compound annual growth rate (CAGR) of 74.2%. The growth in the historic period can be attributed to the rise in biotechnology applications, the rise of consumer electronics, increased demand for disinfection, increased public health awareness, and increased use in healthcare.
The deep UV LED market size is expected to see exponential growth in the next few years. It will grow to $17.09 billion in 2028 at a compound annual growth rate (CAGR) of 74.3%. The growth in the forecast period can be attributed to the growing demand for sterilization for water purification, an increase in scarcity of pure water, a growing demand for semiconductor lithography, increased research and development investments, and a rise in biotechnology applications. Major trends in the forecast period include ongoing innovations in semiconductor materials, miniaturization of LED devices, improvements in LED efficiency and lifespan, advancements in semiconductor technology, and the development of high-performance thermal management solutions.
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Market Drivers and Trends:
The increasing concern over water scarcity is expected to propel the growth of the deep UV LED market going forward. Water scarcity refers to the lack of sufficient available water resources to meet the demands of water usage within a region. This condition can result from a variety of factors, including physical shortages, over-extraction of water, pollution, and inefficient water management. Deep UV LEDs are used in water scarcity situations to purify and disinfect water, making it safe for drinking by eliminating harmful microorganisms. Their energy efficiency and compact size make them suitable for portable and decentralized water treatment systems. For instance, in January 2021, according to the United Nations International Children's Emergency (UNICEF), a US-based organization, four billion people (almost two-thirds of the world's population) will experience severe water scarcity for at least one month each year. Additionally, by the year 2040, approximately 25% of children globally will reside in regions facing extremely severe water scarcity. Therefore, the increasing concern over water scarcity is driving the growth of the deep UV LED market.
Major companies operating in the deep UV LED market concentrate on developing advanced products that utilize technologies such as scanning projection stereolithography (SPSL) to overcome challenges in the UV range. SPSL is a 3D printing technology that combines scanning and projection methods to build parts by selectively curing photosensitive resin layer by layer, allowing for faster printing speeds compared to traditional stereolithography. For instance, in October 2022, The Silanna Group Pty. Ltd., a US-based semiconductor company, unveiled two new UV-C LEDs, the SF1-3T9B5L1 and the SN3-5T9B5L1, which come in a TO-can package format. The SF1-3T9B5L1 is a far UV-C emitting device with a peak wavelength of 235 nm, effective for water quality detection of nitrate and nitrite, gas detection of carbon dioxide, and liquid chromatography. The SN3-5T9B5L1 is a powerful deep UV-C LED with a peak wavelength of 255 nm, effective for water quality detection of COD (chemical oxygen demand) and TOC (total organic carbon), as well as gas detection for ozone (O3) and medical.
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Major Key Players of the Market:
LG Corporation, Lite-On Technology Corporation, Stanley Electronics, Nikkiso Corporation Limited, SANAN Optoelectronics, Hongli Zhihui Group, Seoul Viosys Corporation, Crystal IS, Epileds Technologies, HexaTech Incorporated, Sensor Electronic Technology, Inc. (SETi), RayVio Corporation, Photon Wave Corporation, Nitride Semiconductors Corporation Limited, Bytech Electronics Co. Ltd., High Power Lighting Corporation, Qingdao Jason Electric Corporation Ltd., DOWA ELECTRONICS MATERIALS Corporation Limited, Roithner Lasertechnik GmbH, Nichia Corporation
Deep UV LED Market 2024 Key Insights:
• The deep UV LED market size is expected to see exponential growth in the next few years. It will grow to $17.09 billion in 2028 at a compound annual growth rate (CAGR) of 74.3%.
• Rising Water Scarcity Drives Growth In The Deep UV LED Market
• Advanced Product Development Fuels Innovation In The Deep UV LED Market
• Asia-Pacific was the largest region in the deep UV LED market in 2023
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