LED Materials Market Projected to Hit $12.55 Billion at 9.9% CAGR to 2021

The global LED materials market is projected to reach USD 12.55 billion by 2021, at a CAGR of 9.9% from 2016 to 2021.
The growth is fueled by the rising demand for LED materials for LED for residential LED applications under the general lighting application segment.

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Volatility in raw material prices resulting in lower demand for LED materials and high initial cost of LEDs can curtail the growth of the LED materials market.
Wafers segment is the fastest-growing LED material segment, in terms of value, in the LED materials market. Typically, gallium arsenide and gallium nitride are used to develop wafers. Gallium nitride LEDs are based on thin layers of gallium nitride grown on other materials such as silicon or sapphire. Many manufacturing companies are moving towards the production of 6-inch and 8-inch wafer production as it is more cost-effective compared to the production of 4-inch wafer production.
The key companies profiled in this market research report are Sumitomo electric (Japan), Hitachi Metals (Japan), Cree, Inc. (U.S.), Seoul Semiconductors (South Korea), Nichia Corporation (Japan), Epistar Corporation (Taiwan), Koninklijke Philips N.V. (Netherlands), OSRAM Licht AG (Germany), II-VI incorporated (U.S.), and AkzoNobel (Netherlands).

Browse complete report on LED Materials Market by Material Type (Substrate, Wafer, Epitaxy, Phosphor), Application (General Lighting (Residential, Industrial, Outdoor), Automotive Lighting (Interior, Exterior), Backlighting), and Region - Global Forecast to 2021, Now available at
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Asia-Pacific is the fastest-growing market for LED materials, in terms of value. Growing manufacturing industries, high economic growth rate, cheap labor, and increasing foreign investments make it a manufacturing hub of the world. The growth of various industries such as automotive and building & construction in Asia-Pacific will boost the demand for LEDs.
In the process of determining and verifying the market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
 By Company Type: Tier 1 - 57%, Tier 2 – 28%, and Others - 15%
 By Designation: C level - 42%, Director level - 21%, and Others - 37%
 By Region: North America - 28%, Europe - 22%, Asia-Pacific - 20%, Middle East & Africa - 13%, and South America - 17%

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Research Coverage
The market is segment based on type, application, end-use industry, and region. This report covers the LED materials market, in terms of value, and forecasts its market size till 2021. The report also provides company profiles and competitive strategies adopted by the key players in the global LED materials market.

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This release was published on openPR.