TechNavio, market research firm, made a Global UV LED technology market analysis, said global UV LED technology market will grow rapidly. TechNavio forecast, in 2020 annual compound growth rate of global technology UV LED market will reach
39%. From total sales, including UV LED UV-A, UV-B and UV-C emitters, the company assesses the market of UV LED technology. TechNavio market assessment does not include sales of spare
parts for the production of UV LED’s.
2015, UV curing market accounted for 48.14% UV LED technology market. The company found that increasing demand for the printing industry UV curing equipment, flux density UV LED chip is
significantly improved so that the ultraviolet-curable occupy a large part of UV LED technology market.
Printing has developed into a major user of UV curing equipment. UV LED inkjet printer makes high-power fixed and curing can be achieved. To do this, UV LED curing system for UV inkjet printer for
the print shop and bring new applications to achieve a multi-functional printer.
UV LED technology in Asia-Pacific
TechNavio predicted that the next fastest technology UV LED market growth in Asia Pacific. The company forecast, UV LED technology in the Asia Pacific region will reach 39.31 percent compound
annual growth rate. Mainly due to high demand in the region for the UV curing equipment and technology.
Increase in the number of fraud, particularly in the East Asia-Pacific region, which leads to increased demand for counterfeit detection UVLED. Principal analyst Technavio of Sunil Kumar Singh said:
“China and India are the emerging markets, as the government promote energy sources and support for the industrial, medical and scientific sectors control, these policies encourage UVLED UV LED
manufacturers to increase production.”
UV LED technology in European markets
TechNavio forecast, the European UV LED technology from $ 36.28 million in 2015 increased to $ 190.2 million in 2020. Europe to implement environmental regulation of hazardous substances in the
field led to an important contributor to the total market revenue. UVLED is environmentally friendly and less power consumption. Sunil said: “In Europe, health care, adhesives, printing a large number
of market applications UVLED curing technology, which has become one of the important factors in the growth of the European market.”
UV LED technology in North American market
UV LED technology in North America accounted for 26.8% market share. TechNavio forecast, North America UVLED technology market in 2015 from $ 34.33 million in 2020 increased to 1.7906 billion
US dollars. Due to the rapid growth of the market, the North American graphic arts industry is increasingly using UV curing equipment and technology. Other UV LED application relates to the
healthcare industry and communications equipment industries such as smart phones and tablets.