Asia Pacific LED Materials Market

Asia Pacific LED Materials Market Size (2023-2028)

Asia Pacific LED Materials Market in 2022 was estimated at USD 5.91 billion and is expected to grow at a CAGR of 14.6% to become a USD 10.65 billion Market.

LED is an abbreviation that stands for Light Emitting Diode. When electricity passes through certain diodes they emit light whose characteristics depend on the chemical composition of the diode. The compounds Gallium Arsenide Phosphide (GaAsP), Gallium Phosphide (GaP), and Gallium Arsenide (GaAs) are usually used to make the semiconductor in LED lights. The Low Cost of Production and Maintenance, Durability, and Energy Efficiency of LED lights are among the key factors driving the growth of the LED materials market. They are also environmentally friendly as they consume far less electricity and this only helps their adoption by consumers. LED lights work very well even under extreme temperatures and can deliver the same output for long hours of operation, this has led to the widespread adoption of LED lights in Industry where the cost savings they bring are substantial.

Asia Pacific LED Materials Market Segmentation:

Asia Pacific LED Materials Market By The Type:

• Wafer
• Phosphor
• Substrate
• Epitaxy

Among the LED materials, the wafer market is the largest by value followed by the epitaxy market

Asia Pacific LED Materials Market By Area Of Application:

• Backlighting

• General Lighting (Residential, Industrial, and Outdoor)

• Automotive Lighting (Interior, Exterior)

Backlighting refers to the lights used in smartphones, computers, and other devices with backlit screens. LEDs have become immensely popular in General Lighting and Automotive Lighting categories. They are now the preferred choice of lighting for industries and outdoors because of the immense monetary savings obtained by switching to LED lights from traditional lighting. The automotive sector which needs bright lights with minimal energy consumption has embraced LED lights. New fields like indoor farming are now a reality because of LED lights.

Asia Pacific LED Materials Market Geographical Analysis:

• India
• Japan
• Australia
• China

China is the largest market in the Asia Pacific followed by Japan and India. Rapid development and rising levels of disposable income contribute significantly to the growth of the LED Materials Market in the Asia Pacific.

Asia Pacific LED Materials Market By Country:

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore

Asia Pacific LED Materials Market-key players:

Major companies playing their trade in the Asia Pacific LED Materials Market include 

1. CREE, INC

2. NICHIA CORPORATION

3. OSRAM LICHT AG

4. SEOUL SEMICONDUCTOR CO., LTD

5. OPTO SEMICONDUCTORS