LED Material Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by type (wafer, substrate, epitaxy, and others), material (indium gallide nitrile, aluminum gallium indium phosphide, aluminum gallium arsenide, gallium phosphide, and others), application (general lighting, automotive lighting, consumer electronics, backlighting, and others), and Geography.

Market Snapshot

LED Materials Market Overview
Study Period: 2020- 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >9 %
LED Materials Market Key Players

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Market Overview

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.

Scope of the Report

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
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

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.
LED Materials Market Key Trends

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 Market Growth by Region

Competitive Landscape

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.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Growing Demand from Residential and Commercial Application

      2. 4.1.2 Rising Demand from Energy Efficient Lighting

    2. 4.2 Restraints

      1. 4.2.1 Environmental Threats related to Lead and Copper in Some LED

      2. 4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Wafer

      2. 5.1.2 Substrate

      3. 5.1.3 Epitaxy

      4. 5.1.4 Others

    2. 5.2 Material

      1. 5.2.1 Indium Gallide Nitrile

      2. 5.2.2 Aluminum Gallium Indium Phosphide

      3. 5.2.3 Aluminum Gallium Arsenide

      4. 5.2.4 Gallium Phosphide

      5. 5.2.5 Others

    3. 5.3 Application

      1. 5.3.1 Consumer Electronics

      2. 5.3.2 General Lighting

      3. 5.3.3 Automotive Lighting

      4. 5.3.4 Backlighting

      5. 5.3.5 Others

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 France

        4. 5.4.3.4 Italy

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 EpiGaN

      2. 6.4.2 EPISTAR Corporation

      3. 6.4.3 Intematix Corporation

      4. 6.4.4 Lumileds Holding BV

      5. 6.4.5 My Sunlight

      6. 6.4.6 NICHIA CORPORATION

      7. 6.4.7 OSRAM Opto Semiconductors GmbH

      8. 6.4.8 Seoul Semiconductor Co. Ltd

      9. 6.4.9 Sumitomo Bakelite Co. Ltd

      10. 6.4.10 Wolfspeed, A Cree Company

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Research and Development in Li-Fi

    2. 7.2 Other Oppurtunities

**Subject to Availability

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Frequently Asked Questions

The LED Material Market market is studied from 2020 - 2026.

The LED Material Market is growing at a CAGR of >9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Nichia Corporation, Wolfspeed, A Cree Company, Intematix Corporation, OSRAM Opto Semiconductors GmbH, EPISTAR Corporation are the major companies operating in LED Material Market.

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