The Uv Led Market Is Estimated To Witness High Growth Owing To Growing Demand For Uv Led In Printing & Imaging Applications
The Uv Led Market is estimated to be valued at US$ 957.3 Mn in 2023 and is expected to exhibit a CAGR of 21% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
UV LEDs are semiconductor devices that emit light in the ultraviolet range. Major applications include curing, cleaning, disinfection, analytical instruments, DNA sequencing systems, and counterfeit detection. Key advantages of UV LEDs over traditional UV light sources include high energy efficiency, compact size, long operational lifetime, mercury free and reliable operation.
Market Dynamics:
The growing demand for UV LEDs from printing and imaging applications is expected to drive the market growth over the forecast period. UV LEDs are increasingly being used in curing of inks and coatings in printing presses which offers advantages like instant on-off, long lifespan and cost savings compared to mercury lamps. Also, they enable thin film polymerization for advanced packaging applications in the electronics industry. Moreover, increasing focus on disinfection activities post COVID-19 outbreak is further propelling the demand for UV LEDs in applications such as sterilization robots, UV disinfection chambers and surface disinfection systems. However, high initial costs associated with UV LEDs is a major challenge for widespread adoption.
For more insights, read- http://insightfulmarket.weebly.com/blog/uv-led-is-fastest-growing-segment-fueling-growth-of-the-global-uv-led-market
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