LED Materials Market Share, Size, Top Players, Price Trends, CAGR Analysis, Development Strategy, Sales Revenue, Opportunities and Challenges 2024

Global LED Materials Market, By Type (Wafers, Substrates/Semiconductors, and Others), By Application (General Lightings, Consumer Electronics, Automotive Exterior Lighting, Automotive Interior Lighting) - Forecast till 2024

Pune, India - April 24, 2019 /MarketersMedia/ —

The Global LED Materials Market is expected to exhibit a robust 10.92% CAGR over the forecast period from 2018 to 2024, according to a recent research report from Market Research Future (MRFR). The Global LED Materials Market is primarily driven by the growing demand for LED lighting in residential and automotive applications. The growing government support to the environmentally viable LED lighting is also likely to remain a key driver for the Global LED Materials Market over the forecast period.

The growing residential construction in emerging regions and the consequent rise in the demand for lighting products is likely to be a major driver for the Global LED Materials Market over the forecast period. The rapid urbanization in Asia Pacific and the Middle East has driven the demand for new residential construction and, consequently, for residential fittings such as electric lighting. The energy efficiency of LED light, as well as the fact that they provide white light in contrast to the yellow light provided by traditional incandescent lights, has been a key driver for the adoption of LED lighting in these residential buildings. This is likely to remain a key driver for the Global LED Materials Market over the forecast period.

The growing automotive industry and the growing adoption of LED lighting in automotive applications is also likely to be a major driver for the Global LED Materials Market over the forecast period. Due to the fact that LED lights emit white light, they have become increasingly popular in automotive exterior lighting applications, as they provide a clear light that allows the driver to see farther than with conventional yellow lighting. Their lower carbon footprint has also made LED lights popular in automotive applications and is likely to drive their demand over the forecast period.

Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/6228

Competitive Analysis:

Leading players in the Global LED Materials Market include EpiGaN, AkzoNobel N.V., DOWA Electronics Materials Co. Ltd., Nichia Corporation, II-VI Incorporated, Ube Industries Ltd., OSRAM Opto Semiconductors GmbH, Cree Inc., MACOM, Intematix, Sumitomo Electric Industries Ltd., Plessey, and Epistar Corporation.

In April 2019, researchers at the Catalonia Institute for Energy Research at the University of Barcelona came up with two computational methods to allow solid-state lighting to self-adjust its intensity and other parameters based on the ambient conditions. This could represent a major breakthrough in lighting technology in the coming years.


By Component, the LED Materials Market has been segmented into wafers, substrates/semiconductors, epitaxy material, phosphor, and others. The wafers segment is sub-segmented into silicon, silicon carbide, sapphire, and others. The sapphire segment is expected to expand at a CAGR of 8.25% during the forecast period. The silicon segment is also likely to experience rapid growth due to its growing usage in microelectronics.

By Application, the LED Materials Market is segmented into general lighting, consumer electronics, automotive interior lighting, automotive exterior lighting, healthcare, display and billboards, and others. The residential lighting segment is anticipated to reach a valuation of USD 9,650.6 million by 2024 owing to the growing scope of the construction industry in emerging regions.

Regional Analysis:

Asia Pacific is likely to dominate the Global LED Materials Market over the forecast period due to the rapid growth of the automotive and construction industries in the region. The construction industry in the region has been driven by the growing urbanization in the region, which has driven urban immigration at a rapid pace. The demand for new residential construction to accommodate the new emigrants is likely to lead to a rising demand from the LED Materials Market over the forecast period. The increasing disposable income of consumers in Asia Pacific has also led to a growing demand for more plush, luxurious residences, which is also likely to drive the demand from the LED Materials Market over the forecast period.
The automotive industry in Asia Pacific has also grown rapidly over the last decade and more and is likely to exhibit steady growth over the forecast period, leading to a rapid growth in the demand for LED materials in the region.

Get Complete Report @ https://www.marketresearchfuture.com/reports/led-materials-market-6228

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

Contact Info:
Name: Abhishek Savant
Email: Send Email
Organization: Market Research Future
Address: Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar, Pune
Phone: +1 646 845 9312
Website: https://www.marketresearchfuture.com/reports/led-materials-market-6228

Source URL: https://marketersmedia.com/led-materials-market-share-size-top-players-price-trends-cagr-analysis-development-strategy-sales-revenue-opportunities-and-challenges-2024/506082

Source: MarketersMedia

Release ID: 506082

Latest News

India assesses technical snag that aborted moon mission

Jul 17, 2019

NEW DELHI — India's space organization is examining the technical snag that led to the aborting of the launch Monday of a spacecraft intended to land on the far side of the moon, an official said. The Chandrayaan-2 mission was called off shortly before liftoff early Monday by the Indian Space Research Organization when a "technical snag" was observed in the 640-ton, 14-story rocket launcher. Vivek Singh, the ISRO's media director, said the organization should be able to choose a new launch date within days. He declined to go into details. Chandrayaan, the Sanskrit word for "moon craft," is designed...

AP Photos: Indian mother prays to 'bleeding goddess' for son

Jul 17, 2019

GAUHATI, India — Monika Deb Nath begins her morning with a prayer and a dip in a holy pond, all the while praying for her son, Gopal. Her days are spent caring for him — feeding him, taking him to the toilet, bathing him, keeping him hydrated. When she's not praying, Nath hovers around the 17-year-old with a small fan, trying to give him some relief from the heat and humidity. Nath, 45, and her husband have visited the Kamakhya temple for the fourth year for the annual Ambubachi festival, praying for a miracle to heal their son from cerebral...

Parts of southern India facing acute water shortage

Jul 17, 2019

NEW DELHI — With the government able to meet only 40% of the water requirement, millions of people in the southern Indian state of Tamil Nadu are depending on water tank trucks because of an acute shortage caused by drying lakes and depleted groundwater. Sekhar Raghvan, a water expert, said Monday that taps were running dry, but that meteorologists expect rain in the state this week and people are pinning their hopes on that. It rained for a while in the state two weeks ago, but not enough to replenish water bodies. Gauri Shankar, a hotel general manager, said he...

39 killed as bus falls into deep gorge in northern India

Jul 17, 2019

NEW DELHI — A bus fell into a deep gorge along a sharp curve on a mountainous road in northern India, killing 39 people, police said Friday. Twenty-one people with injuries were hospitalized in Kullu, a town in Himachal Pradesh state, police officer Amar Singh said. Singh said 25 people died at the scene of the crash Thursday and another 14 people succumbed to injuries overnight in the hospital. The cause of the accident was being investigated, Shalini Agnihotri, another state police officer, said. The bus plunged down a 500-meter (1,600-foot) gorge, she said. Around 150,000 people die every year...

Iran Revolutionary Guard shoots down US drone amid tensions

Jul 17, 2019

TEHRAN, Iran — Iran's Revolutionary Guard shot down a U.S. drone on Thursday amid heightened tensions between Tehran and Washington over the collapsing nuclear deal with world powers, American and Iranian officials said, though they disputed the circumstances of the incident. The Guard said it shot down the RQ-4 Global Hawk drone over Iranian airspace, while the U.S. said the downing happened over international airspace in the Strait of Hormuz. The different accounts could not be immediately reconciled. Later, the U.S. military's Central Command released a statement calling the downing an "unprovoked attack." Previously, the U.S. military alleged that Iran...

Broaden News

Sign up now!

Recent Discovery will take you to the captivating developments in science, technology, and the universe around us. We deliver to you the latest news, theories, and developments in the world of science.

Contact us: sales[at]recentdiscovery.com