Market Overview
The global LED materials market, during the forecast period 2021-2027, will register growth at a CAGR of 10.3%. The market for LED materials is set to reach USD 22.68 billion by 2027. As per LED materials market analysts, the global market is anticipated to witness growth owing to the factors such as growing adoption from the automotive sector as well as growing R&D investments. However, the LED materials market will face challenges and restraints due to growing adoption of alternatives and raw material price volatility during the forecast period 2021-2027
The global LED materials market, during the forecast period 2021-2027, will register growth at a CAGR of 10.3%. The market for LED materials is set to reach USD 22.68 billion by 2027. As per LED materials market analysts, the global market is anticipated to witness growth owing to the factors such as growing adoption from the automotive sector as well as growing R&D investments. However, the LED materials market will face challenges and restraints due to growing adoption of alternatives and raw material price volatility during the forecast period 2021-2027
The ban on the use of incandescent bulbs in the LED materials market is set to play a key role in determining the growth potential from 2021-2027 years. Analysts have also studied the LED materials market to understand potential threats and challenges the LED materials market companies could face. Although the LED materials market is poised to grow at a fast pace across type and application segments, factors such as high costs associated with LED materials could slow down the LED materials market's growth worldwide.
Market Segmentation
The LED materials market has been segmented into type and applications. Based on the segment which is type, the market is categorized on the basis of substrates/semiconductors, wafers, and others. The global market for LED materials is further segmented based on applications into automotive exterior lighting, automotive interior lighting, consumer electronics, and general lighting.
The global LED materials market research report covers all the aspects of the LED materials market based on the segmental analysis of these type and applications segments. Analysts have also studied the global LED materials market's regional markets spread across many continents and countries. The type and application segments along with their sub-segments have been analyzed and companies functioning in the LED materials market across these segments are profiled and analyzed based on input and feedback from LED materials market-based decision makers as well as primary and secondary sources. The Battery Materials research report presents analysis-based information for companies functioning in the LED materials market.
Regional Overview
The short lifespan of the LED devices may hinder the LED materials market growth. The market research report suggests that companies in the LED materials market could be supported by reducing energy prices as well as the growing acceptance of technical advances during the forecast period. The LED materials market is set to register growth at a high CAGR owing to these key factors. The LED materials market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global LED materials market research report reveals that APAC, North America, and Europe regional LED materials markets will dominate the global market for LED materials during the forecast period 2021-2027. As per LED materials market analysts, the market is set to witness tremendous growth across consumer electronics and automotive segments in North America which covers LED materials markets across the United States, Canada, Mexico and several other regional markets. Companies active in the LED materials market are also analyzed and studied in the LED materials market research report.
The LED materials market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the LED materials market research report covers the Asia-Pacific region covering LED materials markets from India, China, Japan, Australia, and others. The LED materials market is also spread across the rest of the world. The LED materials market report covers all such regions including the Middle East, Africa, Brazil, and others.
Competitive Landscape
LED materials has seen increased demand over the years, due to the growing application of LEDs and new opportunities for expansion. Companies functioning in the global LED materials market are also being challenged due to the lack of awareness about the advantage of LEDs and less penetration in many underdeveloped countries. Mergers and acquisitions by LED materials market companies are anticipated to help the market during the forecast period 2021 to 2027. As the LED materials market is set to register a high CAGR of 10.3% and is also anticipated to reach USD 22.68 billion by 2027, the report highlights key areas companies need to focus on. The report suggests that the LED materials market will see a healthy growth in the long run till 2024. Based on SWOT analysis and LED materials market’s analysis based on Porters’ Five Force Model presented in the LED materials market report. Mergers and acquisitions by LED materials market companies are anticipated to help the market during the forecast period 2021-2027.
Industry News
Cree, Inc. reported today that it has reached an agreed to buy its LED Products business unit to SMART Global Holdings, Inc. for up to $300 million, comprising defined cash and future compensation, as well as conditional payment. Cree plans to obtain an initial cash payment of $50 million upon closure and $125 million upon maturity of a seller note released by SMART to Cree due August 2023, according to the terms of the deal, which has been accepted by the Company's board of directors. Cree also has the option to accept a $125 million earn-out bonus depending on sales and gross profit results.
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Report details
| Base Year | 2023 |
| Companies Covered | 15 |
| Pages | 133 |
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