LED Materials Market 2022 investments growth analysis company profiles and forecast to 2030

 LED Materials Market2021 by Manufacturers, Product, Device, Regions, Type and Application, Forecast to 2030

Overview:

LED materials include phosphor, silicon, and sapphire, and play integral parts in facilitating the manufacturing of LED lights. LED lights are energy-efficient and find widespread application in various electronic gadgets like telecommunications, camera, camcorder, TV remote control, HDTV, and optical fiber communication. The global LED materials market can achieve a 10.92% CAGR to surpass a valuation of USD 21,457.3 million during the review period of 2018 to 2024. Market Research Future (MRFR) predicts the automotive segment as one of the foremost factors to drive the market ahead.

Recent industrial growth is banking a lot on integration of IoT, automation, and artificial intelligence. These sectors are pervasively entering a number of industries like general lighting, display & billboards, automotive interior lighting, healthcare, consumer electronics, and others. In a way they are also paving the way for LED materials ingress. Other fields like optoelectronics applications and lights in indoor farming can take the onus of furthering the market.

Segmentation:

MRFR, recently launched a report on the global LED materials market to understand various facets of the market. The process is heavily dependent on segmental analysis. This segmentation includes component and application.

Based on the mode of component, the global LED materials market comprises wafers, substrates/semiconductors, epitaxy material, phosphor, and others. The wafers segment includes sapphire, silicon, silicon carbide, and others. Among these, the silicon segment is expected to deliver robust growth as it has widespread application in the microelectronic devices.

Based on the mode of application, the global LED materials market consists consumer electronics, general lighting, automotive exterior lighting, healthcare, display & billboards, automotive interior lighting, and others. The residential lighting segment may garner a valuation worth USD 9650.6 million by the end of 2024. This is expected to get triggered by a hike in construction of infrastructural projects.

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Regional Analysis:

The LED materials market, as considered in the report launched by MRFR, spans across regions namely, North America, Asia Pacific (APAC), Europe, Latin America, and the Middle East and Africa (MEA). This analysis has its aim fixed on understanding growth pockets to enable market titans improve their profit margin by investing efforts in the right place.

The APAC region is helming the global LED materials market with substantial investment in action and in pipeline. The market is deemed to score a valuation of USD 9,011.2 million by the end of the review period. This could be achieved with a 12.23 % CAGR that would earn backing from end-use industries, such as construction, electrical & electronics, and automotive. The regional market is also hoping to turn sustainable in its use of energy and power, hence, energy-efficient lights are getting better permeation policies. Emerging economies like Thailand, India, South Korea, and China are expected to score well during the forecast period.

North America is having a great run in the market and it holds the second spot in terms of valuation. This growth owes a lot to the increase in sales of high energy-efficient vehicles. At current pace, the market is all set to touch a valuation of USD 5,056.9 million by the end of 2024.

Europe has the possibility of attaining a valuation of USD 4,496.5 million by the end of 2024 and its reasons for growth are quite similar to that of North America.

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Competitive Landscape:

Various companies are ensuring strong strategic inputs to solidify their global LED materials market position. Their moves are also inspiring a holistic growth for the market. MRFR, in their recent analysis, included companies like AkzoNobel N.V., EpiGaN, Nichia Corporation, Epistar Corporation, MACOM, Sumitomo Electric Industries Ltd., OSRAM Opto Semiconductors GmbH, UBE INDUSTRIES LTD., Intematix, DOWA Electronics Materials Co. Ltd. (DOWA Materials Co., Ltd), Plessey, II-VI Incorporated, and Cree Inc. This inclusion is for a better profiling of companies so that, the upcoming trends can be handled in a better way.

In August 2019, Elinchrom entered the LED market with their new product ELM8, a continuous light source of light that works well with a diverse range of Elinchrom's light shapers. Elinchrom is a known name when it comes to photography and the new model is bound to increase LED materials market’s impact in the field of photography.

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