Global LED Materials Market
The global LED materials market was valued at USD 7.74 billion in 2016 and is projected to reach USD 17.95 billion by 2025, growing at a CAGR of 9.8% from 2017 to 2025. LED materials are finding greater acceptance owing to added benefits provided by the products manufactured from these materials. The products offer advantages such as cost and energy efficiency owing to which demand for LED materials is expected to grow rapidly over the forecast period.
1. Market Drivers
1.1 Ban on the usage of incandescent lamps
1.2 Government subsidies for LED Bulbs
2. Market Restraints
2.1 Short lifespan of LED bulbs
The global LED materials market is segmented on the basis of product, application, and region.
1. By Product:
1.1 Substrate Materials
1.1.1 Silicon Carbide
1.2.1 Gallium Arsenide
1.2.2 Gallium Nitride
1.3 Epitaxy Materials
2. By Application:
2.1 General Lighting
2.1.1 Residential Lighting
2.1.2 Industrial Lighting
2.1.3 Outdoor Lighting
2.2 Automotive Lighting
2.2.1 Interior Lighting
2.2.2 Exterior Lighting
2.2.6 Handheld devices
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Latin America (Brazil, Argentina, Rest of Latin America)
3.5 Middle East & Africa
The major players in the market are as follows:
1. Epistar Corporation
2. Cree Inc.
3. AkzoNobel N.V.
4. Hitachi Metals Ltd.
5. MTI Corporation
6. Koninjklike Philips N.V.
7. Osram Licht AG
8. Sumitomo Electric Industries
9. II-VI Incorporated
10. Nichia Corporation
11. UBE Industries Ltd.
12. Epigan NV
13. Addison Engineering Inc.
15. LG Innotek
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the global LED materials market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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