LED Materials Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 9.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
LED Materials Market Analysis
The LED Materials Market was valued at USD 10.51 billion in 2020 and is expected to reach USD 16.83 billion by 2026, at a CAGR of over 9% over the forecast period 2021 - 2026. The market of LED materials is driven by the rising adoption of technological advancements, such as artificial intelligence, the Internet of things (IoT), and automation, LEDs are increasingly being used in applications, such as high-definition television display, camera, camcorder, telecommunications, optical fiber communication, and TV remote controls.
- However, the environmental threats related to lead, nickel, and copper present in some LEDs are likely to hinder the growth of the studied market. Moreover, the temporary halt in production due to unfavorable conditions arising from the COVID-19 outbreak is also expected to hamper the market growth.
- The research and technological development in Li-Fi are likely to provide opportunities for the LED material market over the next five years.
- The Asia-Pacific region dominated the LED material market, owing to the growing application of LED Material in general lighting for residential and commercial purposes in the region.
LED Materials Market Trends
This section covers the major market trends shaping the LED Material Market according to our research experts:
General Lighting Segment to Dominate the Market
- General lighting segment stands to be the dominating segment. Factors such as rising application and demand of LED in energy-efficient efficient lighting are expected to provide thrust to LED material market.
- Power consumption in LED lights is relatively less as low as one-third as compared with normal lights due to which rapid adoption of LED lighting is expected to happen which in turn anticipated to surge market growth.
- Beneficial attributes of LEDs like highly efficient, reliable, low cost of operation, reduced heat losses and longer life span are anticipated to boost their application in both indoor and outdoor settings.
- LED luminaires to deliver more light per output power owing to which it has numerous applications include lights used in streetlights, high bays, downlights, track lights, troffers, and among others in residential and commercial segment.
- Countries, such as the United States, New Zealand, United Kingdom, India, Canada, Taiwan, Australia, and among others have taken several initiatives to replace tradition less durable, high power consuming bulbs with energy efficient LED bulbs which in turn augment the demand for LED material.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region stands to be the largest and fastest growing market for LED material. Factors, such as growing utilization in general lighting as well as rising infrastructural expansion, have been driving the LED material requirements in Asia-Pacific.
- Growing application of LED in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, academics and street lighting. Hence, vast applications of LED are expected to provide a boost to the growth of the market.
- High adoption of LEDs as an alternative to fluorescent, high-intensity discharge (HID) and incandescent lamps is likely to augment the demand for light-emitting diode material.
- Asia-Pacific region is known for its industrial base across the globe. China, Taiwan, Japan, India has the presence of some of the top manufacturers of LEDs. Large scale LED manufacturing industries are located in Asia-Pacific countries like China, South Korea, and Taiwan is anticipated to drive the market for LED material in the region.
- Hence, all such market trends are expected to drive the demand for LED material market in the region during the forecast period.
LED Materials Industry Overview
The global LED Material market is fragmented in nature with some large players and many small players operating in the market. While some of the prominent players in the market include Nichia Corporation, Cree Inc., Intematix Corporation, OSRAM Opto Semiconductors GmbH, and EPISTAR Corporation, among others.
LED Materials Market Leaders
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Nichia Corporation
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Wolfspeed, A Cree Company
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Intematix Corporation
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OSRAM Opto Semiconductors GmbH
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EPISTAR Corporation
*Disclaimer: Major Players sorted in no particular order
LED Materials Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Assumptions
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1.2 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Demand from Residential and Commercial Application
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4.1.2 Rising Demand from Energy Efficient Lighting
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4.2 Restraints
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4.2.1 Environmental Threats related to Lead and Copper in Some LED
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4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Buyers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Type
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5.1.1 Wafer
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5.1.2 Substrate
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5.1.3 Epitaxy
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5.1.4 Others
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5.2 Material
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5.2.1 Indium Gallide Nitrile
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5.2.2 Aluminum Gallium Indium Phosphide
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5.2.3 Aluminum Gallium Arsenide
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5.2.4 Gallium Phosphide
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5.2.5 Others
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5.3 Application
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5.3.1 Consumer Electronics
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5.3.2 General Lighting
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5.3.3 Automotive Lighting
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5.3.4 Backlighting
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5.3.5 Others
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5.4 Geography
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5.4.1 Asia-Pacific
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5.4.1.1 China
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5.4.1.2 India
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5.4.1.3 Japan
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5.4.1.4 South Korea
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5.4.1.5 Rest of Asia-Pacific
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5.4.2 North America
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5.4.2.1 United States
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5.4.2.2 Canada
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5.4.2.3 Mexico
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5.4.3 Europe
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5.4.3.1 Germany
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5.4.3.2 United Kingdom
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5.4.3.3 France
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5.4.3.4 Italy
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5.4.3.5 Rest of Europe
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5.4.4 South America
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5.4.4.1 Brazil
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5.4.4.2 Argentina
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5.4.4.3 Rest of South America
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5.4.5 Middle-East and Africa
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5.4.5.1 Saudi Arabia
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5.4.5.2 South Africa
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5.4.5.3 Rest of Middle-East and Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share (%)/Ranking Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 EpiGaN
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6.4.2 EPISTAR Corporation
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6.4.3 Intematix Corporation
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6.4.4 Lumileds Holding BV
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6.4.5 My Sunlight
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6.4.6 NICHIA CORPORATION
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6.4.7 OSRAM Opto Semiconductors GmbH
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6.4.8 Seoul Semiconductor Co. Ltd
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6.4.9 Sumitomo Bakelite Co. Ltd
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6.4.10 Wolfspeed, A Cree Company
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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7.1 Research and Development in Li-Fi
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7.2 Other Oppurtunities
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LED Materials Industry Segmentation
A Light Emitting Diode or LED is a device that emits light when an electrical current is passed through it. Earlier LEDs were able to produce only red light, but modern LEDs can produce multiple colors. The market study comprises Types such as wafers, substrates, and others including various materials such as Indium Gallide Nitrile, Aluminium Gallium Indium Phosphide, and other materials providing lighting applications to various end-user such as consumer electronics, general lighting, automotive, etc.
| Type | |
| Wafer | |
| Substrate | |
| Epitaxy | |
| Others |
| Material | |
| Indium Gallide Nitrile | |
| Aluminum Gallium Indium Phosphide | |
| Aluminum Gallium Arsenide | |
| Gallium Phosphide | |
| Others |
| Application | |
| Consumer Electronics | |
| General Lighting | |
| Automotive Lighting | |
| Backlighting | |
| Others |
| Geography | |||||||
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LED Materials Market Research FAQs
What is the current LED Material Market size?
The LED Material Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in LED Material Market?
Nichia Corporation, Wolfspeed, A Cree Company, Intematix Corporation, OSRAM Opto Semiconductors GmbH and EPISTAR Corporation are the major companies operating in the LED Material Market.
Which is the fastest growing region in LED Material Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in LED Material Market?
In 2024, the Asia Pacific accounts for the largest market share in LED Material Market.
What years does this LED Material Market cover?
The report covers the LED Material Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the LED Material Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
LED Materials Industry Report
Statistics for the 2024 LED Materials market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. LED Materials analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
LED Materials Market Report Snapshots
