LED Materials Market

LED Materials Market Size (2023-2028):

The LED Materials Market is predicted to reach $ 14.72 billion by 2028, at an annual rate of 11.4% in the forecast period. The base year considered for the study is 2022, while the foreseen period is 2023-2028

The growth rate in the LED materials market is attributed to the growing usage of LED lights in different industrial and household sectors. The market is driven by the estrangement of conventional incandescent bulbs in many countries. Governments are focusing on reducing the costs associated with energy by expanding the usage of energy-efficient devices. It provides an opportunity for the LED materials market through the development of Li-Fi Technology. The longevity or rather the short life span of LED materials is a hindering factor for the growth. Industries are forced to replace the materials in shorter spans of time which impedes growing opportunities.

LED Materials Market Drivers and Restraints:

The LED materials market is stimulated by the escalating use of LEDs in general and automotive lighting. The escalating stringency of regulations for inefficient lighting technologies and the government's rising efforts for sustainable development are the main drivers of the expansion. An aggressive drop in the prices of light-emitting diodes (LEDs), together with the transformation of energy policies around the world, has stimulated an expansion in the market. In addition, attractive government incentives and discounts for the use of LED lighting in various nations will help take advantage of the call. The worldwide market for LED materials is primarily driven by escalated application and call for LEDs in high-resolution, energy-efficient displays in smartphones and HDTVs. With the growing application of LEDs in automotive lighting and display needs, domestic and industrial lighting further stimulates the LED market which, in turn, stimulates the call for LED materials. In addition, favorable government policies, which include various labeling and certification programs, offer new expansion opportunities for the LED industry.

One of the main reasons for the rapid adoption of LED lamps is their relatively lower power consumption compared to normal lamps. In some cases, power consumption is only a third. The worldwide market for light-emitting diode (LED) materials is largely driven by the growing call for LEDs in high-resolution, energy-efficient displays of high-definition smartphones and televisions. Also, the escalating use of LEDs in automotive lighting and display and in domestic and industrial lighting is stimulating the market for LED materials. Besides, encouraging government policies such as various labeling and certification programs offers new expansion opportunities in the market for light-emitting diode (LED) materials. LED properties, such as relatively lower power consumption compared to normal lights, increase the adoption of LED lights. Governments provide incentives and discounts to substitute conventional lamps with LED goods, enhancing the use of LED goods worldwide. Smart lighting should also offer lucrative opportunities for application in industrial and commercial areas. They have the ability to adjust light using control zones. Smart city projects have become predominant in the United States and in several European nations, with an escalating emphasis on strategies to reduce peak energy calls and overall energy consumption.

LED MATERIALS MARKET REPORT COVERAGE

LED Materials Market Segmentation as per the research report until 2028.

LED Materials Market-By component:

• Wafers
• Substrates/Semiconductors
• Epitaxy Material
• Phosphor
• Others

The sapphire segment is predicted to grow at a compound annual rate of 8.25% during the foreseen period. The silicon segment is likely to experience robust expansion due to the high use of wafers in microelectronic devices.

LED Materials Market-By Application:

• General Lighting
• Consumer Electronics
• Automotive Interior Lighting
• Automotive Exterior Lighting
• Healthcare
• Display and Billboards
• Others

The residential lighting segment is predicted to reach a valuation of $ 9,650.1 million by 2025 due to the construction of various infrastructure projects in residential areas.

LED Materials Market-By Region

The LED Materials Report includes the segmentation of Regions with their respective Nations.

• North America LED Materials Industry includes the U.S and Canada.

• Europe LED Materials Industry includes the UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic & Rest of Europe.

• Asia Pacific LED Materials Industry includes India, China, Japan, South Korea, Australia & New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore & Rest of APAC.

• Latin America LED Materials Industry includes Brazil, Mexico, Argentina, Chile & the Rest of LATAM.

• The Middle East & Africa LED Materials Industry includes KSA, UAE, Israel, the rest of GCC nations, South Africa, Ethiopia, Kenya, Egypt, Sudan, rest of MEA.

Asia-Pacific is the largest market for LED materials, followed by North America and Europe. The call for LED materials in Asia-Pacific is mainly driven by huge-scale LED-making businesses. In addition, the escalating emphasis on the information technology industry, the strengthening of electricity production and distribution infrastructures in emerging economies, and the fall in LED prices, mainly due to the progress of manufacturing technology are predicted to have a higher expansion rate during the foreseen period. The escalating application of LEDs in various display technologies should allow for moderate expansion in the LED materials market in North America and Europe.

Asia Pacific represents the largest share of the worldwide market for light-emitting diode (LED) materials, followed by North America and Europe. The reason for this dominance in Asia-Pacific is that companies manufacture LEDs on a large scale in China, South Korea, and Taiwan. Furthermore, with a growing interest in information technology and the strengthening of electricity production and distribution infrastructures in developing economies, the market for light-emitting diode (LED) materials is growing. The escalating application of LED technology in various display applications is predicted to offer attractive expansion opportunities in the market for light-emitting diode (LED) materials in North America and Europe.

Recent Developments in the LED Materials Market:

• Zumbotel introduces the latest LED fixtures that are based on Cree TrueWhite Technology. Cree, Inc., the market leader in LED lighting, announces that Zumtobel, a leading lighting manufacturer, has launched three revolutionary LED lights based on Cree TrueWhite technology.

• Seoul Semiconductor, an LED packaging company, has launched its type of Chip-On-Board (COB) direct current (COB) chip, called the Z-Power COB (ZC). Developed with Seoul Semiconductor's Z-Power LEDs, the ZC series will be employed as a high-power, high-brightness light source to reduce thermal resistance and extend the life of the LED lighting product. In addition, it enables manufacturers to conveniently install, design, and price-competitive products.

LED Materials Market Key Players:

• EpiGaN, Epistar Corporation
• AkzoNobel N.V.
• Plessey
• DOWA Electronics Materials Co., Ltd
• (DOWA Materials Co., Ltd)
• Sumitomo Electric Industries, Ltd.
• Nichia Corporation
• Intematix, II-VI Incorporated
• MACOM
• UBE INDUSTRIES, LTD.
• Cree, Inc.