In a recent published report, Kenneth Research has updated the market report for LED Materials Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for LED Materials Market products.
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Further, the market is projected to grow on account of the growing trade in chemicals worldwide. The European Union recorded to be the largest exporter of chemical products around the globe in the year 2019. The region was also the second largest importer of chemical products after the United States in the same year. The exports of chemicals in Europe, according to the statistics by Eurostat, grew from USD 323.49 billion in 2010 to USD 504.83 billion in 2020. Moreover, the imports of chemicals in the region grew from USD 205.64 billion in 2010 to USD 285.91 billion in 2020.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Global Led Materials Industry was valued at USD 8.61 Billion in the year 2018. Global LED Material Industry is further estimated to grow at a CAGR of 10.21% from 2018 to reach USD 18.55 Billion by the year 2025. Asia-Pacific region holds the highest Industry share in 2017 and Europe Industry is the second largest in the Industry. At a country level, developed markets like China holds the notable Industry share in 2018 and it is projected to grow at a gradual rate in the coming years.
Segmentation done on the basis of Product Type includes Wafer, Epitaxy, Substrate, and Phosphor of which the Wafer segment is expected to hold the highest Industry share during the forecast period. On the other hand, segmentation done on the basis of Application include Automotive Lighting, Backlighting, Mobile Devices and General Lighting, of which General Lighting segment is expected to grow at the highest CAGR during the forecast period.
Major market players in are Koninklijke Philips N.V., OSRAM GmbH, Hitachi Metals, Ltd., Akzonobel N.V, Nichia Corporation, Epistar Corporation, UBE Industries, Ltd., Cree Inc., Sumitomo Electric Industries, Ltd., II-VI Incorporated, and 10 more companies detailed information is provided in the report.
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SWOT analysis of Led Materials Industry
Strength:
Use of LEDs in vertical farming
Weakness:
Short Lifespan of LED materials
Opportunities:
Growing demand for horticulture Industry
Threats:
Availability of substitute raw material
Led Materials Industry Segmentation
Led Materials Industry Overview, By Product Type
• Wafer
• Epitaxy
• Substrate
• Phosphor
• Others
Led Materials Industry Overview, By Application
• Automotive Lighting
• Backlighting
• Mobile Devices
• General Lighting
• Others
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Led Materials Industry Overview, By Region
North America
• USA
• Canada
Europe
• Germany
• U.K.
• France
• Italy
• Rest of Europe
APAC
• China
• India
• Japan
• Rest of Asia-Pacific
RoW
• Latin America
• Middle East & Africa
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