Global LED Materials Market was valued at USD 10.78 Bn in 2019 and is expected to reach USD 21.01 Bn by 2027 at a CAGR of 8.7% over the forecast period 2020-2027.
Global LED Materials Market
The report covers an in-depth analysis of COVID 19 pandemic impact on Global LED Materials Market by region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
Global LED Materials Market Dynamics;
Light-emitting diodes (LEDs) are small colored lights available in various colours. They are used in various applications such as automobile, residential and industrial. Several features of the Light emitting diodes depend upon their material composition. Material such as Substrate, wafer, Epitaxy and phosphor decides optical properties such as colour, brightness, and efficiency of LEDs. Various factors such as increasing regulations pertaining to use of inefficient lighting technologies, growing government subsidies towards sustainable lighting in emerging economies, ban on the use of incandescent bulbs in many developed and developing countries, increasing demand from horticulture market, growing production and sales of automotive vehicles and rapidly expanding electrical and electronics industry are driving the market growth over the forecast period.
However, factors such as fluctuations in raw material prices, availability of substitute products, high costs associated with LED materials, lack of universal enforcement directives pertaining to use of LEDs in various end-user industries and less adoption in many underdeveloped countries are restraining the market growth over the forecast period.
Global LED Materials Market is segmented by material type, by application, and by region. By material type, wafers material type segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period owing to increasing adoption of cost effective six and eight-inch size wafer material type. Many LED manufacturing companies are preferring large diameter wafer as yield of these wafers is high as compared to others material types. By application, General segment held the highest market share in 2019 and is expected to keep its dominance over the forecast period owing to growing adoption of LED bulbs in residential and commercial apartments for effective lighting. The commercial complexes such as galleries, museums, office spaces, malls and other exhibition are using LED materials for effective lighting. General segment is followed by automotive segment with xx% of market share owing to growing stringency about regulations of exterior automotive lighting across the globe.
Scope of Global LED Materials Market
Global LED Materials Market Segmentation by Material Type
Global LED Materials Market Segmentation by Application
• General (Industrial and Residential)
• Automotive Lighting
Global LED Materials Market Segmentation by Region
• North America
• MEA& Africa
• South Africa
Global LED Materials Market Major players
• Nichia Corporation (Japan)
• Epistar Corporation (Taiwan)
• Koninklijke Philips N.V. (Netherlands)
• OSRAM Licht AG (Germany)
• II-VI incorporated (U.S.)
• AkzoNobel (Netherlands)
• Fagerhult Group
• Cree, Inc.
• Hitachi Metals, Ltd
• Sumitomo Electric Industries
• UBE Industries, Ltd
• Addison Engineering, Inc.
• China Crystal Technologies Co., Ltd
• Dowa Electronic Materials Co Ltd
• Epigan NV
• Everlight Electronics Co., Ltd
• Freiberger Compound Materials GmbH
• Lake LED Materials Co., Ltd
• LG Innotek
• Macom Technology Solutions
• MTI Corporation
• Seoul Semiconductors Co, Ltd
• Sino Nitride Semiconductor Co, Ltd
• Six Point Materials, Inc.
• Xinxiang Shenzhou Crystal Technology Co., Ltd
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