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(IT-NEWSWIRE.COM, October 18, 2019 ) Market Overview
• Light-emitting diodes (LEDs) are the indicator lights on stereos and automobiles. Numeric displays on clock radios, digital watches, and calculators are composed of bars of LEDs. They are also used in various applications like telecommunications for short-range optical signal transmission such as TV remote controls, jewelry and clothing witness sun visors with a series of blinking colored lights adorning the brim. LEDs are coated in transparent plastic too. Diodes, in general, are made of very thin layers of semiconductor material; one layer will have an excess of electrons, while the next will have a deficit of electrons.
Market Dynamics
• Favorable government policies, growth of the automotive industry and increasing demand for energy-efficient lights are the major driving factors for the market growth worldwide. Government in different economies are concentrating on decreasing energy usage and their charges by executing and evolving energy-efficient devices. For instance, the EU Member in 2018 has chosen to saturate the entire European Union with LEDs by 2021. They have made some policy guidelines and regulations to phase out halogen and bright lamps. Adding to this, The Government of India has promoted and subsidized LED bulbs in order to raise energy maintenance. They have launched the initiative named UJALA - Unnat Jyoti by affordable LED for All scheme for replacing the current incandescent bulbs with newer and more efficient LED bulbs.
• Environmental issues are the key restraints hampering the growth of the market globally.
Market Segmentation
• By application, the LED Materials market is segmented into automotive lighting, general lighting, consumer electronics, and others. Others include backlighting, display & billboards and healthcare. The global LED materials market size by application was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Consumer electronics are expected to hold the major market share in the forecasting period owing to the broad usage of LEDs in televisions, digital watches, cameras, wearables, and other consumer electronics. Companies are adopting LED technologies in Televisions and other electronic gadgets which acts a major reason for the growth of LED materials market globally. For instance, Samsung has adopted Quantum Dot (QLED) color technology for 6-Series and 8-Series models.
• By type, the material is classified into phosphor, epitaxy, semiconductors, wafer, and others. Semiconductors are further divided into, gallium phosphide, gallium arsenide, aluminum gallium arsenide, and gallium nitride. A semiconductor is a crystalline material that conducts electricity only when there is a high density of impurities in it. The slice, or wafer, of semiconductor is a single uniform crystal, and the impurities are introduced later during the manufacturing process. The particular semiconductors used for LED manufacture are gallium arsenide (GaAs), gallium phosphide (GaP), or gallium arsenide phosphide (GaAsP). The different semiconductor materials (called substrates) and different impurities result in different colors of light from the LED. Companies are having collaborations in order to sustain in the market. For instance, in August 2019, Mouser Electronics has announced that they are now stocking Oslon Pure 1010 LEDs from Osram Opto Semiconductors.
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Geographical Analysis
• The Asia Pacific LED materials market size was worth USD YY million in 2018 and is estimated to reach USD YY million by 2026, at a CAGR of YY% during the forecast period. Asia Pacific is expected to grow with a high CAGR in the forecast period owing to the growth in various industries like electrical and electronics construction, and automotive. China, India, and Japan are expected to hold major share in the Asia Pacific region. Companies in this region are opening new manufacturing hubs related to Led and its materials due to the high demand from end-users. For instance, in August 2019, BluGlass has announced that they are opening new manufacturing and demo lab in Australia. They are developing LEDs for automotive and overhead LED lighting, micro-LEDs for wearables and virtual reality (VR) displays, and power electronics for efficient power conversion.
Competitive Landscape
• The LED materials market is competitive with existing and new players entering the market. Some of the major players include Sumitomo Electric Industries, Ltd, MACOM, DOWA Electronics Materials Co., Ltd, Cree, Inc., Nichia Corporation, EpiGan, Plessey, OSRAM Opto Semiconductors GmbH, AkzoNobel N.V., and Intematix.
• The key players are adopting various key strategies such as product launches, collaborations, mergers & acquisitions which are contributing to the growth of the LED Materials Market.
• In August 2019, TCL has announced about the launch of 8-Series 4K Roku TVs with QLED and Mini LED Tech.
• Companies are adopting LED technologies in televisions and other electronic gadgets which acts a major reason for the growth of the LED materials market globally. For instance, Samsung has adopted Quantum Dot (QLED) color technology for 6-Series and 8-Series models.
View full sample report: https://www.datamintelligence.com/research-report/led-materials-market
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