Market Research Future Published a Cooked Research Report on LED Materials Market Research Report – Forecast to 2024
Light-emitting diodes (LED) are semiconductor light-emitting devices when an electric current is passed through them. LED materials are used in the manufacture of LED’s and consist of silicon wafers, doping agents, glass and others. The global LED materials market is expected to generate a large volumetric growth owing to their growing application expanse, rapid adoption of display devices and the burgeoning telecommunications sector.
According to Market Research Future (MRFR), the Global LED Materials Market is expected to garner a valuation of USD 21,457.3 MN by the end of 2024. In its recently published analysis, MRFR also asserts that the market would register a CAGR of over 10.92% over the assessment period (2016-2024). Extensive uptake of LED’s in devices across the electronics industry is a key driving force behind the substantial market demand.
Attractive advancements in the technological spectrum such as development of LED’s operating in the visible, ultraviolet, and infrared wavelengths, development of white light emitting LEDs suitable for room lighting, growing efficiency and high output of LED’s, is driving a large shift towards their application. LED’s are replacing incandescent bulbs, while their high switching rates is translating in their application in telecommunications. The explosive growth of the advertisement industry is propelling a large demand for LED’s in indicator lamps and seven-segment displays.
The attractive advantages of LEDs such as lower energy consumption, longer lifetime, robustness, smaller size, has made them ubiquitous across wide spectrum of applications ranging from automotive lighting, camera flashes, and medical devices. LED displays are substituting liquid crystal displays (LCDs) in laptops and even televisions owing to their greater energy efficiency, which is driving a momentous market growth.
Global LED Materials Market – Competitive Landscape
The LED materials market is highly fragmented and competitive due to the presence of several big and small players. The market reflects a volumetric nature and there is intense pricing pressure due to poor differentiation of raw materials. Economies of scale is a very prominent strategy owing to the high pricing sensitivity of the market. The poor differentiation has resulted in many players quitting the market. The manufacturing is also shifting to locations with lower labour cost, a trend hastened by the advent of cheap shipping.
Manufacturers of LED materials are using a variety of distributions channels to gain market share.
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Players leading the global LED materials market include UBE INDUSTRIES, LTD., EpiGaN, Intematix, II-VI Incorporated, Epistar Corporation, Plessey, DOWA Electronics Materials Co., Ltd. (DOWA Materials Co., Ltd), Ltd., Nichia Corporation, MACOM, Cree, Inc., AkzoNobel N.V., OSRAM Opto Semiconductors GmbH, Sumitomo Electric Industries, among others.
Industry/ Innovation/ Related News:
November 21, 2019 —- Chip maker Epistar double its investment in Mini LED boosting its capacity so as to tap the growing demand.
The Taiwan-based Epistar plans to increase its capital expenditure to US$ 163.83 billion. The major applications of Mini LED are Mini LED backlight and fine-pitch display. Epistar also supplies RGB LED chips to its subsidiary Yenrich and Prolight Opto and expects the product shipment to double by 2020.
Global LED Materials Market – Segments
The report is segmented into three dynamics to widen the scope of understanding,
By Component : Wafers, Substrates/Semiconductors, Epitaxy Material, Phosphor, among others.
By Application : General Lighting, Consumer Electronics, Automotive Interior Lighting, Automotive Exterior Lighting, Healthcare, Display and Billboards, among others.
By Regions: North America, Latin America, Europe, The Middle East and Africa (MEA), and Asia Pacific (APAC).
Global LED Materials Market – Regional Analysis
North America dominates the global LED materials market with the largest market share owing to the larger adoption of telecommunication devices, large advertisement sector and rapid adoption of efficient lighting systems. Besides, the rapidly growing electronics, telecommunication and medical devices industry foster the growth of the North American LED materials market.
The LED materials market in Europe is projected to drive a major market growth owing to proliferating application across a wide spectrum of industries from healthcare to lighting industry thereby boosting the market growth. The development of EU legislation is expected to drive a large shift towards LED lighting. For example, the REACH and RoHS Directives regulating the use of toxic materials such as mercury is benefitting the LED materials market. Another regulation, the Energy using Products (EuP) Directive, which aims to lower energy used by electrical equipment is further projected to drive a larger shift in favour of LED’s.
The Asia Pacific LED materials market is anticipated to drive a large growth owing to the large population, explosive adoption of LED’s in mobiles and televisions and the growing manufacturing base.
Browse Key Industry Insights spread across 133 pages with 111 market data tables & 28 figures & charts from the report, “LED Materials Market Information: By Type (Wafers, Substrates/Semiconductors, and Others), By Application (General Lightings, Consumer Electronics, Automotive Exterior Lighting, Automotive Interior Lighting) and Region – Growth Potential, Price Trends, Competitive Market Share & Forecast 2024” in detail along with the table of contents: https://www.marketresearchfuture.com/reports/led-materials-market-6228
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