LED Materials Market Worth 12.55 Billion USD by 2021

LED Materials Market is projected to reach USD 12.55 Billion by 2021, at a CAGR of 9.9%, in terms of value from 2016 to 2021. The base year considered for the study is 2015, while the forecast period is from 2016 to 2021. The LED materials market is driven by the increasing usage of LEDs in general and automotive lighting. The report includes analysis of the LED materials market by region, namely, North America, Europe, Asia-Pacific, Middle East & Africa, and South America.

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Drivers & Opportunities in global market:

• Ban on the Use of Incandescent Bulbs in Many Countries
• Government Subsidies in Emerging Economies Can Increase LED Consumption
• Growing Demand From Horticulture Markets
• Development of Li-Fi

The general lighting application segment is projected to drive the LED materials market, aided by the increased demand from residential LED markets to reduce the overall energy costs. Industrial lighting, which comes under general lighting, is also expected to contribute to the growth of LED materials market. The use of LEDs in industrial settings has increased as they are able to overcome challenges such as extreme temperature ranges and continuous or long operational hours better than the conventional lighting sources.

New product launches and expansions are the key strategies adopted by the industry players to achieve growth in the LED materials market between 2016 and 2021. Development of cost-effective products and more innovative features have led various manufacturers to focus on LED materials, thus leading to an increase in its demand. This has encouraged companies to adopt strategies such as new product launches, expansions, and agreements. Some of the key players, such as Sumitomo Electric Industries, Ltd. (Japan), Hitachi Metals, Ltd. (Japan), Nichia Corporation (Japan), and Epistar corporation (Taiwan) have adopted these strategies to develop their businesses globally. These strategies also accounted for a significant share of the overall growth strategies adopted by the players in the market between 2015 and 2017

Nichia Corporation (Japan) is one of the leading players in the LED materials market. As a part of its business strategy, Nichia focuses on new product developments and expansions. The company focuses on manufacturing high-quality products by employing the latest state of the art technology and improving the efficiency of its operations. In 2016, Nichia Corporation introduced the LED family 757G series which is designed for general lighting. These LEDs can be used in panel lights, bulbs, downlights, ceiling lights, high bays, tube lights, and ceiling lights.

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Epistar Corporation (Taiwan) is a key manufacturer in the global LED materials market. The company aims to expand its market share and become one of the most innovative companies in the world. Epistar Corporation and Cree, Inc. agreed on a global patent cross-license agreement for LEDs to grow in the LED lighting and LED bulb market. This agreement also allowed the companies involved to use other's nitride LED chip LED patents. In addition, each company was granted certain rights to non-nitride patents as well. This allowed more innovation in the field of LED related products.

Companies such as Sumitomo Electric Industries, Ltd. (Japan), Hitachi Metals, Ltd. (Japan), Nichia Corporation (Japan), Epistar corporation (Taiwan), Cree, Inc. (U.S), Koninklijke Philips N.V. (Netherlands), and OSRAM Licht AG (Germany) are the most active players in the LED materials market.

Asia-Pacific is currently the largest market for LED materials. China is the leading country where there is major consumption of LED materials in end-use industries such as general lighting, automotive lighting, backlighting, and others. Moreover, the growing population with rising disposable income in China is driving the demand for better quality LED materials.

Premium Insights of the report:

• Attractive Opportunities in the LED Materials Market
• LED Materials Market Growth, By Application
• LED Materials Market, By Type
• LED Materials Market, By Region

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