LED Material Market Size (2024 - 2029)

The LED materials market is experiencing growth driven by the increasing integration of technological advancements such as artificial intelligence, IoT, and automation in various applications, including high-definition displays and telecommunications. Despite challenges posed by environmental concerns related to certain materials and production disruptions from the COVID-19 pandemic, the market is poised for expansion, with research in Li-Fi technology offering potential opportunities. The Asia-Pacific region leads the market due to the rising use of LED materials in residential and commercial lighting.

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Market Size of LED Material Industry

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LED Material Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 9.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

LED Material Market Key Players

*Disclaimer: Major Players sorted in no particular order

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LED Materials Market Analysis

The LED Materials Market was valued at USD 10.51 billion in 2020 and is expected to reach USD 16.83 billion by 2026, at a CAGR of over 9% over the forecast period 2021 - 2026. The market of LED materials is driven by the rising adoption of technological advancements, such as artificial intelligence, the Internet of things (IoT), and automation, LEDs are increasingly being used in applications, such as high-definition television display, camera, camcorder, telecommunications, optical fiber communication, and TV remote controls.

  • However, the environmental threats related to lead, nickel, and copper present in some LEDs are likely to hinder the growth of the studied market. Moreover, the temporary halt in production due to unfavorable conditions arising from the COVID-19 outbreak is also expected to hamper the market growth.
  • The research and technological development in Li-Fi are likely to provide opportunities for the LED material market over the next five years.
  • The Asia-Pacific region dominated the LED material market, owing to the growing application of LED Material in general lighting for residential and commercial purposes in the region.

LED Materials Industry Segmentation

A Light Emitting Diode or LED is a device that emits light when an electrical current is passed through it. Earlier LEDs were able to produce only red light, but modern LEDs can produce multiple colors. The market study comprises Types such as wafers, substrates, and others including various materials such as Indium Gallide Nitrile, Aluminium Gallium Indium Phosphide, and other materials providing lighting applications to various end-user such as consumer electronics, general lighting, automotive, etc. 

Type
Wafer
Substrate
Epitaxy
Others
Material
Indium Gallide Nitrile
Aluminum Gallium Indium Phosphide
Aluminum Gallium Arsenide
Gallium Phosphide
Others
Application
Consumer Electronics
General Lighting
Automotive Lighting
Backlighting
Others
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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LED Material Market Size Summary

The LED Materials Market is experiencing significant growth, driven by the increasing integration of technological advancements such as artificial intelligence, the Internet of Things (IoT), and automation. These technologies are propelling the use of LEDs in various applications, including high-definition television displays, telecommunications, and optical fiber communication. Despite the promising growth trajectory, the market faces challenges due to environmental concerns related to materials like lead, nickel, and copper in some LEDs, as well as production disruptions caused by the COVID-19 pandemic. However, advancements in Li-Fi technology present new opportunities for market expansion. The Asia-Pacific region leads the market, fueled by the growing demand for LED materials in general lighting for both residential and commercial purposes.

The general lighting segment is the dominant force in the LED materials market, supported by the rising demand for energy-efficient lighting solutions. LEDs offer numerous benefits, including lower power consumption, high efficiency, reliability, and a longer lifespan, making them an attractive alternative to traditional lighting options. The market is further bolstered by initiatives in countries like the United States, India, and Australia to replace conventional bulbs with LED alternatives. The Asia-Pacific region, with its robust industrial base and presence of major LED manufacturers, is the largest and fastest-growing market. The widespread application of LEDs in sectors such as automotive, healthcare, and street lighting is expected to continue driving market growth. The global market remains fragmented, with key players like Nichia Corporation, Cree Inc., and OSRAM Opto Semiconductors GmbH playing significant roles.

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LED Material Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Growing Demand from Residential and Commercial Application

      2. 1.1.2 Rising Demand from Energy Efficient Lighting

    2. 1.2 Restraints

      1. 1.2.1 Environmental Threats related to Lead and Copper in Some LED

      2. 1.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Wafer

      2. 2.1.2 Substrate

      3. 2.1.3 Epitaxy

      4. 2.1.4 Others

    2. 2.2 Material

      1. 2.2.1 Indium Gallide Nitrile

      2. 2.2.2 Aluminum Gallium Indium Phosphide

      3. 2.2.3 Aluminum Gallium Arsenide

      4. 2.2.4 Gallium Phosphide

      5. 2.2.5 Others

    3. 2.3 Application

      1. 2.3.1 Consumer Electronics

      2. 2.3.2 General Lighting

      3. 2.3.3 Automotive Lighting

      4. 2.3.4 Backlighting

      5. 2.3.5 Others

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

LED Material Market Size FAQs

The LED Material Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)

Nichia Corporation, Wolfspeed, A Cree Company, Intematix Corporation, OSRAM Opto Semiconductors GmbH and EPISTAR Corporation are the major companies operating in the LED Material Market.

LED Materials Market Report Snapshots

LED Materials Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)