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Led Materials Market - Growth, Trends, Covid-19 Impact, And Forecasts (2021 - 2026)

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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 10.2% 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.

- Further, in 2019, scientists developed a technique that allows for a single LED to produce all three primary colors. This has significant implications for active LED displays, which generally require three to four tiny, individual LEDs placed near each other to render the full spectrum. Further, the new LED technique doping the gallium nitride with a rare earth element called europium is compatible with current GaN-based LED technologies. As commonly seen, GaN-based LEDs at work in commercial solid-state lighting so that further advancement will have significant implications in the commercial sector ...
... going forward.

- External consumer display devices such as TFT LCD feature one or more analog VGA, DVI, HDMI, or DisplayPort interface, with many featuring a selection of TFT LCD materials. Backlight intensity is controlled by varying a few volts DC, or generating a PWM signal, or adjusting a potentiometer. This, in turn, controls a high -voltage ( 1 . 3 kV) DC -AC inverter or a matrix of LEDs. The method to control the intensity of LED is to pulse them with PWM, which can be a source of harmonic flicker. With TFT LCD usage, the market shows a potential growth to it.
- 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.

- But, the critical step towards technology maturation is being taken to integrate new material into UV LEDs for disinfecting the areas. A personal, handheld device that emits high-intensity ultraviolet light to disinfect areas by killing the novel coronavirus is now feasible, according to researchers at Penn State, the University of Minnesota, and two Japanese universities. The UV radiation, which is in the 200 to the 300-nanometer range, are known to destroy the virus, making the virus incapable of reproducing and infecting. This significantly leads to market growth in taking precautions for controlling the virus spread.

Key Market Trends

Automotive Lighting Segment is Expected to Hold Significant Share

For sample report please visit: https://www.statzyreports.com/report/sr497288/led-materials-market

- The automobile manufacturers are focused on improving both vehicle and passenger safety in night driving situations, as approximately 30% of all vehicle accidents occur at night. Moreover, the severity of accidents is much higher at night than during the day.
- Headlights over the past few years have been moving toward intelligent applications by integrating LEDs and sensing technologies. Some automotive LED producers have introduced matrix LED headlights in which LEDs are placed in arrays, and each LED can be controlled individually. In headlamps, Liquid Silicon Rubber is finding increasing applications. LSR is enabling long-life LED lighting that is extremely critical for automotive applications. The growth of application in LED headlamps is due to their transparency and color that get minimally affected by weathering exposure.
- Leading automotive OEMs and lighting system manufacturers are spending a huge amount on R&D of exterior lights for future vehicles. OLEDs have now been used in the external panels by carmakers to alert the pedestrians and other vehicles about the driver's move. HELLA is developing a new automotive headlamp technology Digital Light SSL, which will go into production by 2022. With over 30,000 light points, it provides a wide variety of new safety- and comfort-relevant function, such as optical lane assistants, and projected protection zones for pedestrians and cyclists.
- Further, high-performance polymers are being increasingly used in headlamps. Covestro recently introduced Makrolon polycarbonate that is ideal for use in headlamps, display covers, housings, and heat sinks. Moreover, with the EV demand projected to increase over the next decade, LEDbased products and solutions are anticipated to gain high traction, owing to reduced power consumption and is expected to drive the demand.

Asia-Pacific is Projected to be the Fastest Growing Market

- The economic development and government policies, due to rapid urbanization in developing countries, such as India, China, and Japan, has spurred the demand for LEDs in the region. For instance, in April 2019, under the Indian government's energy efficiency program, 20 million of LED bulbs were distributed in the country. State-run Energy Efficiency Services Limited (EESL), implementing the UJALA scheme for distributing LED bulbs to the consumer, has reduced the procurement price of these lights to INR 38 per unit.​
- In line with this, as part of a nationwide energy-saving program, the South Korean government launched an LED lighting adoption program. The program is aimed to achieve a 100% adoption rate for LED lighting in the South Korean public sector and 60% penetration of all lighting applications nationwide, by 2020. The region has seen significant growth in the automotive lighting market. ​
- The consumption of passenger vehicles in the region, especially in China, has increased. In contrast, the penetration of LEDs in the Chinese automotive market has also seen a significant rise, leading to the rapid development of the automotive lighting industry. According to OCIA, the total number of passenger cars sold in China reached to 23.7 million in 2018.​
- In India, the government has formulated a FAME India Scheme (Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles) by investing INR 3.59 billion to promote the adoption of these vehicles. As of December 2019, over 280,000 HV and EV were supported with incentives resulted in saving of over 50 million liters of fuel and reduction in 124 million KG of CO2 emission.​ All the above factors are expected to augment the growth of LED Material across various parts of the region.

Competitive Landscape

The competitive landscape in the Global LED material market stands fragmented due to the presence of a large number of international and regional actors making the market highly competitive. Several players are losing market share due to several emerging entrants from countries like China. Some of the recent developments in this industry are as follows:-

- In June 2020, Epistar Corporation and Lextar Electronics announced that the two companies would jointly establish a holding company A (tentative name) via share conversion, which was approved in the board of directors meetings of Epistar and Lextar respectively today. In this collaboration, Epistar will focus on LED upstream and midstream technology with Lextar becoming one of its valuable customers, and Lextar will concentrate in-depth on downstream techniques with Epistar being one of its strategic suppliers.
- In December 2019, The company announced a patent license agreement with Advanced Optoelectronic Technology Inc, which provides AOT with the right to use patented Cree technology in the field of LEDs for display backlights and help produce energy-efficient and performance-oriented displays. ​

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For sample report please visit: https://www.statzyreports.com/report/sr497288/led-materials-market

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StatzyReports is the premier global market research and business reports company based in India. StatzyReports.com functions under Statzy Market Research. We offer our expertise globally in services related to market research, business strategy consulting, surveys or questionnaire, forecast and statistical data analysis. Our experience working with major business and customer driven companies enabled us to develop some of the best winning strategies for succeeding in various global markets. Our globally renowned experts mastered the art of perfection with their unique skillset and vast experience in research and data analytics.

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