LED Materials Market: Global Industry Analysis and Forecast (2023-2029)

LED Materials Market size was valued at US$ 13.89 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 10.3% through 2023 to 2029, reaching nearly US$ 27.59 Bn.
LED Materials Market Overview:
Light Emitting Diodes (LEDs) have used throughout the world as they offers plenty of benefits over incandescent light sources. LEDs consumes low energy. LEDs are smaller in size, longer lifetime, fast switching, and improved physical robustness. Substrate, Wafer, Epitaxy, and Phosphor are the material types of the LEDs. General Lighting, Automotive Lighting, and Backlighting are the end-use applications of the LEDs Materials.To know about the Research Methodology :- Request Free Sample Report
LED Materials Market Dynamics:
The key major factors that are expected to boost the growth of the LEDs materials market during the forecast period 2023-2029 are the rising demand from the horticulture market, increasing sales and the production of automotive cars and rapidly increasing electrical and electronics industries, growing regulations related to the use of inefficient lighting technologies, rising government subsidies towards sustainable lighting in emerging economies, Li-fi development, and bans on the use of incandescent bulbs in many developing countries. The value of LEDs production in India was reached to 130 billion Indian rupees in 2023 and the production value of LEDs in India was reached to 162.5 billion Indian rupees in 2022.

LEDs provides many advantages such as energy efficiency, long life, durable quality, ecologically friendly, operational in extremely hot or cold temperatures, design flexibility, light dispersement, zero UV emissions, and many more benefits that LEDs offers. These are the key benefits of LEDs that are expected to drives the growth of the global LEDs materials market during the forecast period 2023-2029.

High Costs of LEDs materials, raw material prices fluctuations, substitute products availability, lack of universal enforcement directives related to the use of LEDs in many end-user industries and minimum adoption in many underdeveloped countries are the major restraining factors that are expected to hamper the growth of the global LEDs materials market during the forecast period 2023-2029.
LED Materials Market Segment Analysis:
Based on the Material Type, the market is segmented into Substrate, Wafer, Epitaxy, and Phosphor. Wafer LED Materials segment is expected to hold the largest market share of xx% by 2029. This is due to the rising adoption of the cost effective of six and eight-inch size of wafer material type. Various LEDs production companies are preferring large diameter wafer. This is because the yield of the large diameter wafers materials is large as compared to other types of the materials. These are the key drivers of the wafer LEDs material that are expected to drives the growth of this segment in the global market during the forecast period 2023-2029.

Based on the Application, the market is segmented into General Lighting, Automotive Lighting, Backlighting, and Others. General Lighting segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to increasing application and huge demand of light emitting diodes (LEDs) in energy-efficient lighting. LED luminaires are utilised in streetlights, high bays, downlights, track lights, troffers, and other applications in the residential and commercial industries because they give more light per output power. Countries such as the United States, New Zealand, the United Kingdom, India, Canada, Taiwan, and Australia, among others, have taken a number of steps to replace traditional, less durable, high-power-consuming bulbs with energy-efficient LED bulbs, hence increasing demand for LED material. These are the factors that boost the growth of the general lighting segment in the global market during the forecast period 2023-2029.
LED Materials Market Regional Insights:
Asia Pacific dominates the Global LED Materials market during the forecast period 2023-2029. Asia Pacific is expected hold the largest market share of xx% by 2029. LED material requirements in Asia-Pacific have been driven by factors such as increased use in general illumination and increased infrastructure growth. LED is widely used in industries such as automotive, general lighting, mobile devices, healthcare, forensics, academia, and street lighting. Due to this factor, the market's growth is expected to be boosted by the wide range of LED applications.

The widespread use of LEDs as a replacement for fluorescent, high-intensity discharge (HID), and incandescent lights is expected to boost demand for LED material. The Asia-Pacific region is known around the world for its industrial foundation. Some of the leading LED manufacturers may be found in China, Taiwan, Japan, and India. Large-scale LED manufacturing companies are expected to drive the market for LED material in Asia-Pacific countries such as China, South Korea, and Taiwan. These are the major factors that drive the growth of this region in the Global LEDs material market during the forecast period 2023-2029.

North America is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to the increased building reconstruction and increased vehicle production in the United States and Canada. The United States is the market leader in the North America region. This is due to the United States is thriving in the electrical and electronics industry.

Europe is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. This is due to the new European Union rules and standards pertaining to the usage of light-emitting diode (LEDs) technology, as well as strong investments in R&D of energy-efficient lighting solutions in many European countries such as UK, Germany, Spain, and other countries in the Europe region.

The objective of the report is to present a comprehensive analysis of the Global LED Materials Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Global LED Materials Market dynamic, structure by analyzing the market segments and project the Global LED Materials Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global LED Materials Market make the report investor’s guide.
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Global LED Materials Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 13.89 Bn.


Forecast Period 2023 to 2029 CAGR:
10.3%
Market Size in 2029:
US $ 27.59 Bn.


 Segments Covered:
by Material Type
Substrate
Wafer
Epitaxy
Phosphor


by Application
General Lighting
Automotive Lighting
Backlighting
Others


by Product
LED Lamps
LED Fixtures


by End User
Commerical
Residential
Others
Industrial



LED Materials Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
LED Materials Market Key Players are:
1. Nichia Corporation (Japan)
2. Epistar Corporation (Taiwan)
3. Koninklijke Philips N.V. (Netherlands)
4. OSRAM Licht AG (Germany)
5. II-VI incorporated (U.S.)
6. AkzoNobel (Netherlands)
7. Fagerhult Group
8. Cree, Inc.
9. Hitachi Metals, Ltd
10. Sumitomo Electric Industries
11. UBE Industries, Ltd
12. Addison Engineering, Inc.
13. China Crystal Technologies Co., Ltd
14. Dowa Electronic Materials Co Ltd
15. Epigan NV
16. Everlight Electronics Co., Ltd

Frequently Asked Questions:

1] What segments are covered in LED Materials Market report?
Ans. The segments covered in LED Materials Market report are based on Material Type, and Application.

2] Which region is expected to hold the highest share in the LED Materials Market?
Ans. Asia Pacific is expected to hold the highest share in the LED Materials Market.

3] Who are the top key players in the LED Materials Market?
Ans. Nichia Corporation (Japan), Epistar Corporation (Taiwan), Koninklijke Philips N.V. (Netherlands), OSRAM Licht AG (Germany), and II-VI incorporated (U.S.) are the top key players in the Global LED Materials Market.

4] Which segment holds the largest market share in the LED Materials market by 2029?
Ans. Wafer LEDs material segment hold the largest market share in the Global LED Materials market by 2029.

5] What is the market size of the LED Materials market by 2029?
Ans. The market size of the LED Materials market is US $27.59 Bn. by 2029.

6] What was the market size of the LED Materials market in 2022?
Ans. The market size of the LED Materials market was worth US $13.89 Bn. in 2022.