LED Materials Market Size, Growth Trends, Upcoming Statistics, Industry Share, Regional Analysis, Top Key Players and Global Application 2024

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LED Materials Market Research Report - Forecast
to 2024
Industry Survey, Growth, Competitive
Landscapeand Forecasts to 2024
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LED Materials Market Research Report- Forecast to
2024
LED Materials Market - Overview
The Global LED Materials Market is predicted to
touch USD 21,457.3 million at a 10.92 CAGR over
the forecast period (2018-2024), states the new
Market Research Future (MRFR) report. LED or
light-emitting diode, simply put, is a
semiconductor device which emits light the moment
an electric current pass through it. It has some
added advantage over stereotype bulbs such as
non-splintery, high efficiency, and power saving.
The efficiency, power consumption, frequency, and
working of LED rests upon the material that is
used for constructing LED. Various factors are
propelling the LED Materials Market Growth. These
factors in accordance to the MRFR report, include
growing use of LEDs in automotive and general
lighting, growing adoption of technological
advancements including automation, internet of
things, and artificial intelligence, favorable
government policies including various
certification programs and labeling, and ban on
the usage of incandescent bulbs in different
countries. On the contrary, lack of awareness
about LED Materials and short lifespan are
factors that may impede the LED Materials Market
growth over the forecast period.
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LED Materials Market Research Report- Forecast to
2024
Segmental Analysis
The MRFR Report provides a complete Segmental
Analysis of the LED Materials Market based on
Application and Component. Based on Component,
the LED Materials Market is segmented into
epitaxy material, phosphor, wafers,
substrates/semiconductors, and others. The wafers
segment is again segmented into silicon carbide,
silicon, sapphire, and others. Of these, the
silicon segment will have the largest share in
the market over the forecast period. This is
owing to the widespread use of wafers in
microelectronic devices. Based on Application,
the LED Materials Market is segmented into
display and billboards, automotive interior
lighting, general lighting, consumer electronics,
healthcare, automotive exterior lighting, and
others. Of these, the general lighting segment
will dominate the market over the forecast
period. It is predicted to touch USD 9650.6
million owing to the growing construction of
infrastructural projects in residential areas.
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LED Materials Market Research Report- Forecast to
2024
Regional Outlook
By Region, the LED Materials Market Report covers
the latest trends and growth opportunities across
Latin America, North America, Europe, the Asia
Pacific, and the Middle East and Africa. Of
these, the Asia Pacific will lead the market over
the forecast period. It is predicted to touch USD
9,011.2 million at a 12.23 CAGR. This is owing
to the growth of several end use industries
including automotive, electrical and electronics,
and construction, and increasing demand for
energy-efficient lights in the construction
sector. Moreover, the growing population base in
China, South Korea, India, and Thailand are also
boosting the market growth in this region. The
LED Materials Market in Europe is predicted to
have the second-largest share in the market over
the forecast period. It is predicted to touch USD
4,496.5 million. The market in this region is
mainly driven due to increasing production of
energy-efficient cars. The LED Materials Market
in North America is predicted to have a notable
growth during the forecast period. This is on
account of the burgeoning demand for high
energy-efficient cars. It is predicted to reach
USD 5056.9 million by 2024. The LED Materials
Market in the Middle East and Africa, and Latin
America are predicted to have a steady growth
during the forecast period.
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LED Materials Market Research Report- Forecast to
2024
Major Players in this Research

• LED Materials Market Prominent Players
• 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

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