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Growing demand for eco-friendly vehicles is also driving the growth of LED components, LED light manufacturers contribution to the global LED Materials Market.

HYDERABAD, TELANGANA, INDIA, December 6, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that The LED Materials Market size is forecast to reach US$21.5 billion by 2027, after growing at a CAGR of 9.5% during 2022-2027. Due to rapid industrialization across the world, the demand for LED Lighting is surging globally, which in turn drives the market growth. The increasing number of R & D activities of LED materials in many regions is one of the key drivers for the growth of the LED Materials market share globally during the forecast period. Besides, expanding utilization of customer merchandise and expanding the use of Light Emitting Diode (LED) materials in areas like healthcare, aerospace, automobile and others over the globe due to its durability will support the development of the global LED materials industry. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Led-Materials-Market-Research-500112

Key takeaways:

This IndustryARC report on the LED Materials Market highlights the following areas -

1. In the North America region, in 2021, the USA was a major market for the LED Materials owing to growing uses as outdoor LED lighting across the country.

2. The growing popularity of silicone-based LED packaging materials for the manufacturing of many high-brightness LED components and economically viable technologies are likely to aid in the market growth of the global LED industry.

3. The outbreak of COVID-19 is projected to lower the growth of the global LED Materials market at a reasonable rate during the forecast period due to global lockdown, disruption of the global supply network, lack of availability of workforce, and declining demand from end-users.

4. The alternatives available for LED Materials such as laser diode, sodium vapor lights, and fluorescent tubes are acts as a restraining factor to the growth of this market as well as led light manufacturers.

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https://www.industryarc.com/pdfdownload.php?id=500112

Segmental Analysis:

1. The substrate material segment held the largest share of more than 30% in the LED Materials market in 2021 and is projected to grow at a substantial rate over the forecast period. This growth is due to the growing uses of silicon-based LED across TVs and handheld device displays, aviation lighting, automotive lighting, advertising and general lighting, and medical devices.

2. Among the regions, the APAC region held the largest share of more than 35% in 2021 and is projected to witness the highest CAGR of around 11% in the global LED Materials market followed by North America and Europe during the forecast period. The growing building and construction, increased disposable income of the countries such as China and India, surging uses of semiconductor device and semiconductor material across the transportation the sector is driving the growth of LED light manufacturers in the APAC region.

3. The automotive lighting segment is projected to grow at the highest CAGR of 12.3% in the LED Materials market during the forecast period. This growth is attributed to the growing uses of LED components like a led reflectors and led lighting in electric vehicles.

Competitive Landscape:

The top 5 players in the LED Materials Industry are -

1. Nichia Corporation
2. Addison Engineering, Inc.
3. Epistar Corporation
4. Koninklijke Philips N.V.
5. OSRAM Licht AG

Click on the following link to buy the LED Materials Market Report:
https://www.industryarc.com/reports/request-quote?id=500112

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https://www.industryarc.com/Report/15380/advanced-materials-market.html

B. Cenospheres Market
https://www.industryarc.com/Report/15527/cenospheres-market.html

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