Light-emitting
diode or LED is a semiconductor device which is made of elements from group III
& group V of the periodic table, known as III-V materials. LED releases
light when an electric current is passed through it. Light is produced when
particles carrying the current (electrons & holes) coalesce with one
another within the semiconductor material. Color of the emitted light depends
on the composition of semiconductor material used in manufacturing of LED. It
is extensively used in an array of application for instance displays devices on
clock, lighting bulbs, digital watches, radios, and calculators. It also finds
its applications in high definition television display, camcorder, camera,
optical fiber communication, telecommunications, and TV remote controls. The
application of LED is even exceeded to the Jewelry & Wearable’s.
According
to study, “Global
LED Materials Market Research Report - Forecast to 2024” the key
companies operating in the global LED materials market are AkzoNobel N.V.,
OSRAM Opto Semiconductors GmbH (OSRAM), Intematix, OSRAM, Nichia Corporation,
DuPont, and Sabic, EpiGan, Epistar Corporation, Plessey, Cree, Inc., Sumitomo
Electric Industries Ltd, MACOM, DOWA Electronics Materials Co., Ltd (DOWA
Materials Co., Ltd), Opto Semiconductors, UBE Industries Ltd, Seoul Semiconductor,
II-VI Incorporated.
Based
on type, global LED materials market is segmented into
substrates/semiconductors, epitaxy materials, phosphor, wafers and others.
Substrates include gallium arsenide (GaAs), gallium phosphide (GaP), gallium
nitride (GaN), aluminum gallium arsenide (AlGaInP), indium gallium nitride
(InGaN) and others. GaAs is the most commonly used material in all major
classes of LED for instance high-power LED, miniature LED, and
application-specific LED. Wafers include sapphire, silicon carbide, silicon and
others. Based on precursors, market is segmented into trimethyl-aluminum (TMA),
trimethyl gallium (TMGa), trimethyl indium (TMIn), C2Mg2 and triethyl gallium
(TEGa). Additionally, based on application, market is segmented into consumer
electronics, general lighting, displays & billboards, automotive exterior
lighting, automotive interior lighting, healthcare and specialty lighting.
Consumer electronics segment is further sub-segmented into television, handheld
devices, monitors, backlight and others. In addition, general lighting segment
is further sub-segmented into I&I lighting, residential lighting, outdoor
lighting and others.
The
LED materials market is driven by increase in use in digital advertising &
consumer electronics, followed by rise in demand for energy-efficient lights,
ban on the usage of incandescent bulbs, increase in demand for high-definition
displays and growth in automotive industry. However, environmental threats,
lifespan and lack of awareness about the benefits of LEDs may impact the
market. Moreover, increase in use of LEDs across industries and Li-Fi
technologies are major opportunities for market. Furthermore, prevalence of
quantum dot as down conversion material in LEDs and introduction of new led
materials are key trends for market.
Based
on geography, the Asian-Pacific region accounts for the main share of the LED
materials market owing to strengthen in power generation & distribution
infrastructure of developing economies and growth in focus on information technology
in the region. The North-American & European regions are expected to
witness higher growth rate due to increase in initiatives to substitute
traditional and less durable & high-power-consuming bulbs by
energy-efficient LED bulbs over the forecast period. It is expected that the
market will be reached at rapid pace caused by large scale LED manufacturing
industries and decrease in prices of LED as a result of the advancement in
manufacturing technology over the forecast period.
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