LED Packaging Market: Structure and Overview of Key Market Forces Propelling Market
There are many factors driving the global LED packaging market. The encouraging regulatory environment provided by governments around the world is expected to be a major driver of the market. These government initiatives are mostly in the form of subsidies and tax cuts to help increase the production of energy-efficient LEDs particularly in Asian countries. The increasing demand for smart lighting solutions is expected to further push the market.
There are however some factors that are restraining the market’s growth. The market in recent years has seen an increasing number of companies entering and making the market highly competitive. High competition in the market compels market entities to adopt more cost cutting measures which in turn affects the overall quality of the product. The growing number of LED manufacturers has led to the market becoming saturated and leaves little room for innovation. This factor is expected to emerge as a major restraint of the market.
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The global LED packaging market can be segmented on the basis of type, packaging material, application, and geography. On the basis of type, the market can be classified into lamp-LED, TOP-LED, side-LED, SMD-LED, high-power-LED, and flip chip-LED. High-power-LED sub segment is anticipated to expand at a rapid pace owing to the increasing focus on integrating them with smart lighting and building technologies in commercial spaces. The said segment is also expected to be driven by the miniaturization and increasing reliability of such lightings.
On the basis of packaging material, the market can be categorized into plastic, paper & paperboard, ceramic packages, nanoceramics, silicones materials, and epoxy molding compound (EMC). The ceramic packages sub segment is expected to hold a major share of the market while also growing at a substantial rate owing to their ease of integration into level 2 packaging. The major share of ceramic packages is also due to their thin profile, low package footprint, and reduced weight.
On the basis of application, the market can be segmented into general lighting, automotive lighting, and backlighting. The backlighting sub-segment is expected to hold a major share of the market throughout the forecast period owing to the increased demand from Taiwan.
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On the basis of geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is expected to hold a major share of the market with China, Japan, Taiwan, and South Korea providing most of the revenue owing to the presence of key industry players.
Additionally, the encouraging regulatory policies adopted by the government in China through incentives and subsidies to enhance domestic production capacity is expected to be a major driver of growth. Asia Pacific region is expected to be followed by North America and Europe. Regions like South America and Middle East & Africa are expected to hold a minor share of the market.
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The major players in the global LED packaging market are Lumenpulse AlphaLED, Nichia Corporation, Samsung Corporation, OSRAM Light AG, Seoul Semiconductors Co. Ltd., Philips Corporation, Stanley Electric Co. Ltd., Toyoda Gosei Co. Ltd., and Cree Inc. Other prominent market players include TT Electronics Plc, Kulicke and Soffa Industries, Inc., Dow Corning, LG Innotek, Lumileds, Everlight Electronics Co., Ltd. and Epistar Corp.
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