This report estimates the market size for LED materials in terms of value. The LED materials market is projected to grow at a CAGR of 9.9% from 2016 to 2021, in terms of value. The trend of using economical and innovative LED materials in various end-use industries is projected to drive the LED materials market.

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There has been an increase in the usage of LED materials across various end-use applications, such as general lighting, automotive lighting, backlighting, and others. LEDs are used for various applications in these applications and the adoption rate is increasing at a rapid pace. This will fuel the demand for new LED materials to benefit from the various properties of LEDs in the aforesaid different applications.

The developed regions, such as Europe and North America, are relatively mature markets as compared to Asia-Pacific, Middle East & Africa, and South America. The LED materials market in Asia-Pacific is projected to grow at the highest CAGR from 2016 to 2021. The high GDP growth rate in this region is fueling the growth of LED materials market in the region. In Asia-Pacific, the LED materials market in China is projected to grow at the highest CAGR during the forecast period, in terms of both value and volume. Though China has been an export-oriented country, the increasing domestic demand is expected to increase the domestic consumption of LEDs. Government incentives, along with the ban on incandescent light sources in public offices, are expected to drive the growth of the LED Materials Market.

The general lighting segment is projected to grow at the highest CAGR from 2016 to 2021. The demand from general lighting segment will be driven by the increasing use of LEDs in residential applications. Various factors, such as better overall efficiency, practical design, and consistent performance are driving the demand for LED materials in residential applications. In addition, the growing awareness about savings on energy consumption bills using LEDs for lighting has generated a lot of demand from other segments as well.

Drivers & Opportunities in global industry:

• Ban on the Use of Incandescent Bulbs in Many Countries
• Government Subsidies in Emerging Economies Can Increase LED Consumption
• Growing Demand From Horticulture Markets
• Development of Li-Fi

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Key players in the LED materials market are Sumitomo Electric Industries, Ltd. (Japan), Hitachi Metals, Ltd. (Japan), Cree, Inc. (U.S.), Seoul Semiconductor Co., Ltd. (South Korea), Nichia Corporation (Japan), EPISTAR Corporation (Taiwan), Koninklijke Philips N.V. (Netherlands), OSRAM Licht AG (Germany), II-VI incorporated (U.S.), and Akzo Nobel N.V. (Netherlands).

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