Light-emitting diode or LED is a semiconductor device which is made of elements from group III & group V of the periodic table, known as III-V materials. LED releases light when an electric current is passed through it. Light is produced when particles carrying the current (electrons & holes) coalesce with one another within the semiconductor material. Color of the emitted light depends on the composition of semiconductor material used in manufacturing of LED. It is extensively used in an array of application for instance displays devices on clock, lighting bulbs, digital watches, radios, and calculators. It also finds its applications in high definition television display, camcorder, camera, optical fiber communication, telecommunications, and TV remote controls. The application of LED is even exceeded to the Jewelry & Wearable’s.
According to study, “Global LED Materials Market Research Report – Forecast to 2024” the key companies operating in the global LED materials market are AkzoNobel N.V., OSRAM Opto Semiconductors GmbH (OSRAM), Intematix, OSRAM, Nichia Corporation, DuPont, and Sabic, EpiGan, Epistar Corporation, Plessey, Cree, Inc., Sumitomo Electric Industries Ltd, MACOM, DOWA Electronics Materials Co., Ltd (DOWA Materials Co., Ltd), Opto Semiconductors, UBE Industries Ltd, Seoul Semiconductor, II-VI Incorporated.
Based on type, global LED materials market is segmented into substrates/semiconductors, epitaxy materials, phosphor, wafers and others. Substrates include gallium arsenide (GaAs), gallium phosphide (GaP), gallium nitride (GaN), aluminum gallium arsenide (AlGaInP), indium gallium nitride (InGaN) and others. GaAs is the most commonly used material in all major classes of LED for instance high-power LED, miniature LED, and application-specific LED. Wafers include sapphire, silicon carbide, silicon and others. Based on precursors, market is segmented into trimethyl-aluminum (TMA), trimethyl gallium (TMGa), trimethyl indium (TMIn), C2Mg2 and triethyl gallium (TEGa). Additionally, based on application, market is segmented into consumer electronics, general lighting, displays & billboards, automotive exterior lighting, automotive interior lighting, healthcare and specialty lighting. Consumer electronics segment is further sub-segmented into television, handheld devices, monitors, backlight and others. In addition, general lighting segment is further sub-segmented into I&I lighting, residential lighting, outdoor lighting and others.
The LED materials market is driven by increase in use in digital advertising & consumer electronics, followed by rise in demand for energy-efficient lights, ban on the usage of incandescent bulbs, increase in demand for high-definition displays and growth in automotive industry. However, environmental threats, lifespan and lack of awareness about the benefits of LEDs may impact the market. Moreover, increase in use of LEDs across industries and Li-Fi technologies are major opportunities for market. Furthermore, prevalence of quantum dot as down conversion material in LEDs and introduction of new led materials are key trends for market.
Based on geography, the Asian-Pacific region accounts for the main share of the LED materials market owing to strengthen in power generation & distribution infrastructure of developing economies and growth in focus on information technology in the region. The North-American & European regions are expected to witness higher growth rate due to increase in initiatives to substitute traditional and less durable & high-power-consuming bulbs by energy-efficient LED bulbs over the forecast period. It is expected that the market will be reached at rapid pace caused by large scale LED manufacturing industries and decrease in prices of LED as a result of the advancement in manufacturing technology over the forecast period.
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Global LED Materials Market Research Report
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Global OLED Display Materials Market Analysis 2013-2018 and Forecast 2019-2024
Global LED Materials Market Analysis 2013-2018 and Forecast 2019-2024
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