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Global LED materials market booming at a CAGR of 10.0% by 2024

Global LED materials market booming at a CAGR of 10.0% by 2024

Leading Vendors (Akzonobel N.V, Cree, Inc., Epistar Corporation, Hitachi Metals, Ltd., II-VI Incorporated, Koninklijke Philips N.V., Nichia Corporation)

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The Global LED Materials Market accounted for USD 7.90 billion in 2016 and is projected to grow at a CAGR of 10.0% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

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Global LED Materials Market  By Type (Substrate, Wafer, Epitaxy, Phosphor) By Application {General Lighting (Residential, Industrial, Outdoor), Automotive Lighting (Interior, Exterior), Backlighting} By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

Competitive Landscape: 

The Global LED Materials Market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

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Major Market Drivers:

  • Ban on the use of incandescent bulbs in several countries
  • Government subsidies on LED lights
  • Advantages of LEDs over alternative light sources

Market restraint:                                                

  • Lack of awareness about the benefits of LED in some regions 

 TOP Competitors of Market:

  • Akzonobel N.V, Cree, Inc.,
  • Epistar Corporation,
  • Hitachi Metals, Ltd., II-VI Incorporated,
  • Koninklijke Philips N.V.,
  • Nichia Corporation,
  • Osram Licht AG,
  • Sumitomo Electric Industries,
  • UBE Industries, Ltd.,
  • Addison Engineering, Inc.,
  • China Crystal Technologies Co., Ltd,
  • Dowa Electronic Materials Co Ltd,
  • Epigan NV,
  • Everl0ight 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.,
  • Soraa,
  • Xinxiang Shenzhou Crystal Technology Co., Ltd
  • many more.

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Market Defination:-

A light emitting diode or LED is a semiconductor device. LED produces incoherent narrow spectrum of light when it is in forward biased condition.

The color of the light emitted depends on the composition of the semiconductor material used in manufacturing of LED. There is a growing demand for LED material in general lighting, automotive lighting and backlighting activities, which is expected to be one of the major drivers of the market over the next seven years. . 

Market Segmentation: 

The LED materials market is segmented on the basis of type into substrate, wafer, epitaxy, and phosphor.

On the basis of application:- General lighting, automotive lighting, and backlighting. The general lightning is sub segmented into residential, industrial and outdoor.

On the basis of end-user:- Tires, adhesives and industrial rubber.

On the basis of geography:- North America, South America, Europe, Asia-Pacific and Middle East & Africa. U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.

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