The Global LED Materials Market capitalization is anticipated to touch USD 21,457.3 million by 2024, as per an in-depth report by Market Research Future (MRFR). It is expected to expand at a 10.92% CAGR during the assessment period (2018-2024) owing to pressing demand for energy efficient lights. LED materials comprise silicon, phosphor, and sapphire and primarily used in the manufacture of light-emitting diode (LED) lights.

The booming automotive sector in the Asia Pacific, fueled by consumers of economies such as India and China can drive the global market demand over the forecast period. Environmental concerns can pose a challenge to the market. But the emergence of light fidelity (Li-Fi) and increasing use of LEDs across industries can open up new doors for the market for expansion purposes. Demand in optoelectronics applications and demand for lights in indoor farming can bolster market demand over the coming years.

Report Overview:

This report covers current events and trends in the market for LED Materials to provide the most accurate forecasts and predictions. By correlating the historical data with key market dynamics, our analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the Global LED Materials Market segmented on the basis of type, application, and region with astute insights. This report has been prepared to assist industry players in making the right decisions which can culminate in fruitful investments. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.

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Segment Overview:

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 touted to expand at a CAGR of 8.25% during the forecast period. The silicon segment is projected to experience robust growth owing to high use of wafers in microelectronic devices.

By Application, the 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 touch a valuation of USD 9650.6 million by 2024 owing to construction of various infrastructural projects in residential areas.

The segments and sub-segments covered in the report are analyzed under four major regions – North America, Latin America, Europe, The Middle East and Africa (MEA), and Asia Pacific (APAC), with respective country-level market sizing. The standard definition of “LED material” is included in the report for a comprehensive understanding of the market. The report discusses and interprets the current trends and future opportunities of the market by delivering an unbiased growth assessment.

Players Covered:

EpiGaN, Epistar Corporation, AkzoNobel N.V., Plessey, DOWA Electronics Materials Co., Ltd. (DOWA Materials Co., Ltd), Sumitomo Electric Industries, Ltd., Nichia Corporation, Intematix, II-VI Incorporated, MACOM, UBE INDUSTRIES, LTD., Cree, Inc., and OSRAM Opto Semiconductors GmbH are noteworthy players in the LED Materials Market. Focus on new LED materials, acquisitions, and novel product development are strategies being employed by players to capture a larger share of the market.

The report offers comprehensive profiles on these market players and assesses their current standing in the LED Materials Market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, mergers and acquisitions (M&A) activities, and latest R&D initiatives are outlined in the report.

Research Methodology:

Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report comprises news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.

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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.

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