Global Light-emitting Diode (LED) Materials Market: Overview
Light-emitting diode (LED) is a semiconductor device that releases light when electric current is passed through it. Light is produced when particles carrying the current (known as electrons and holes) combine with one another within the semiconductor material. Diodes, usually made of very thin layers of the semiconductor material, contain a single layer of electrons in excess, while the next diode has deficit of electrons. LEDs are made of compound semiconductor materials, which are made of elements from group III and group V of the periodic table, particularly known as III-V materials. Examples of III-V materials commonly used to manufacture LEDs are gallium arsenide (GaAs) and gallium phosphide (GaP). Major semiconductor materials used to manufacture LEDs are indium gallium nitride (InGaN), aluminum gallium indium phosphide (AlGaInP), aluminum gallium arsenide (AlGaAs), and gallium phosphide (GaP). Gallium arsenide is the most widely used material in all major classes of LED such as miniature LED, high-power LED, and application-specific LED.
In terms of various precursors used during the metal organic chemical vapor deposition (MOCVD), the LED materials market can be segregated into trimethyl gallium (TMGa), trimethyl aluminum (TMA), trimethyl indium (TMIn), triethyl gallium (TEGa), and C2Mg2. Among these, the TMGa segment accounted for the largest share of the market in 2017.
Global Light-emitting Diode (LED) Materials Market: Drivers
The global Light-emitting Diode (LED) Materials market is largely driven by increasing demand for LEDs in energy-efficient and high-resolution displays of smartphones and high-definition television sets. In addition, rising application of LEDs in automotive lighting and display and home and industrial lighting is boosting the market for LED materials. Furthermore, encouraging government policies such as various labeling and certification programs are offering new growth opportunities to the Light-emitting Diode (LED) Materials market. Properties of LEDs such as relatively less power consumption compared to normal lights are augmenting the adoption of LED lights.
Global Light-emitting Diode (LED) Materials Market: Key Segments
In terms of geography, the global Light-emitting Diode (LED) Materials market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific accounts for the largest share of the global Light-emitting Diode (LED) Materials market. It is followed by North America and Europe. The reason for this dominance of Asia Pacific is companies manufacturing LEDs on a large scale in China, South Korea, and Taiwan. Moreover, with growing focus on information technology and strengthening power generation and distribution infrastructure of developing economies, the Light-emitting Diode (LED) Materials market is expanding. Increasing application of the LED technology in various display applications is projected to provide attractive growth opportunities to the Light-emitting Diode (LED) Materials market in North America and Europe. Countries such as the U.S., the U.K., Canada, Taiwan, Australia, Japan, and Brazil have taken various initiatives to substitute traditional, less durable, and high-power-consuming bulbs by energy-efficient LED bulbs so as to save power and support environmental sustainability by reducing greenhouse gas emissions.
Global Light-emitting Diode (LED) Materials Market: Key Players
Some of the major companies operating in the global Light-emitting Diode (LED) Materials market are Dow Chemicals Company, Intematrix, DuPont, Sabic, Cree, Inc., OSRAM, Opto Semiconductors, and Seoul Semiconductor.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.
TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.
Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:
Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.
Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.
Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.