The LED phosphors market was valued at $14.22 million in 2021, and is projected to reach $30.44 million by 2031, growing at a CAGR of 8.0% from 2022 to 2031.
Phosphor is a solid luminescent material that can absorb energy of blue and violet light from LED chip and then convert it into visible light. The LED phosphors market is witnessing rapid development with the increasing demand from consumers globally. Growth in adoption of LED lighting technology over other alternative technology and surge in need for energy efficient lighting technology are primary factors for the market growth.
For the purpose of analysis, the global LED phosphors market scope covers segments on the basis of type, application, and region. The report outlines the details about LED phosphors types such as phosphate, garnet, silicate, nitride, and others. The use of LED phosphors in various applications, including automotive, portable PCs, smartphones, lighting, and others are analyzed in the report. Moreover, it analyzes the current market trends of LED phosphors across different regions such as North America, Europe, Asia-Pacific, & LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
The major players that operate in the global LED phosphors market include Beijing Yuji International Co., Ltd., Edison Opto Corporation, General Electric Company, Harvatek Corporation, Intematix Corporation, Leuchtstoffwerk Breitungen GmbH, Lumileds Holding B.V., Luming Technology Group Co.,Ltd., Materion Corporation, Mitsubishi Signage Corporation, Nichia Corporation, Nippon Electric Glass Co.,Ltd., OSRAM GmbH, PhosphorTech Corporation, and Tailorlux GmbH.
Phosphor is a solid luminescent material that can absorb energy of blue and violet light from LED chip and then convert it into visible light. The LED phosphors market is witnessing rapid development with the increasing demand from consumers globally. Growth in adoption of LED lighting technology over other alternative technology and surge in need for energy efficient lighting technology are primary factors for the market growth.
For the purpose of analysis, the global LED phosphors market scope covers segments on the basis of type, application, and region. The report outlines the details about LED phosphors types such as phosphate, garnet, silicate, nitride, and others. The use of LED phosphors in various applications, including automotive, portable PCs, smartphones, lighting, and others are analyzed in the report. Moreover, it analyzes the current market trends of LED phosphors across different regions such as North America, Europe, Asia-Pacific, & LAMEA and suggests the future growth opportunities.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. Value chain analysis for this industry, which includes R&D, components manufacturers, assembly, programming & testing, marketing & sales, customers, and post-sales services, is explained. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
The major players that operate in the global LED phosphors market include Beijing Yuji International Co., Ltd., Edison Opto Corporation, General Electric Company, Harvatek Corporation, Intematix Corporation, Leuchtstoffwerk Breitungen GmbH, Lumileds Holding B.V., Luming Technology Group Co.,Ltd., Materion Corporation, Mitsubishi Signage Corporation, Nichia Corporation, Nippon Electric Glass Co.,Ltd., OSRAM GmbH, PhosphorTech Corporation, and Tailorlux GmbH.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the led phosphors market analysis from 2021 to 2031 to identify the prevailing led phosphors market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the led phosphors market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global led phosphors market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Application
- Automotive
- Portable PCs
- Smartphones
- Flat Panel TVs
- Signage
- Lighting
- Others
By Type
- Phosphate
- Garnet
- Silicate
- Nitride
- Others
By Region
- North America
- U.S
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Beijing Yuji International Co., Ltd.
- Edison Opto Corporation
- General Electric
- Harvatek Corporation
- Intematix Corporation
- Leuchtstoffwerk Breitungen GmbH
- Lumileds Holding B.V.
- Luming Technology Group Co.,Ltd.
- Materion Corporation
- Mitsubishi Gas Chemical Company
- Nichias Corporation
- Nippon Electric Glass Co.,Ltd
- OSRAM GmbH
- PhosphorTech Corporation
- Tailorlux GmbH
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: LED PHOSPHORS MARKET, BY TYPE
CHAPTER 5: LED PHOSPHORS MARKET, BY APPLICATION
CHAPTER 6: LED PHOSPHORS MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “LED Phosphors Market," the led phosphors market was valued at $14.22 million in 2021, and is estimated to reach $30.44 million by 2031, growing at a CAGR of 8.0% from 2022 to 2031.Phosphor is a substance that exhibits the luminescence property. In the case of LED lighting, the type of luminescence is primarily fluorescence, the emission of light caused by the absorption of blue light energy originating from the LED chip. Phosphors are made in ways in order to make them most suitable for consistent, high yield LED manufacturing.
An increase in demand for LED lighting technology has been witnessed as it provides higher color rendering index and efficiency for existing lighting system. These features boost the adoption of LED lighting technology over conventional lightning systems such as florescent light sources. Owing to demand for LED lightning, there is a growth in demand for LED Phosphor, as it is used to manufacture the LED lights. The expansion of the global LED phosphors industry is majorly attributed to its wide applications in Smartphones, Portable PCs, automotive, lighting, electronics, pharmaceutical, and signage.
Moreover, surge in inclination toward LED lighting technologies over conventional lighting systems drive the LED phosphors market growth during the forecast period. In recent years, the light-emitting diode (LED) has become the most energy-efficient and rapidly-developing lighting technology. Fueled by technological innovations and preference for clean and green energy solutions, LEDs offer elevated efficiency and help lower energy prices. LEDs have a longer life cycle, use 50% less electricity, and do not need any maintenance as compared to traditional lighting systems. Furthermore, LEDs use 100% of the electrical energy to produce light as compared to incandescent bulbs that convert 80% into heat and only 20% into light. According to The United States Department of Energy, LED is an energy-efficient lighting technology and has the potential to change the future of lighting in the U.S. Residential LEDs, particularly ENERGY STAR rated products utilize at least 75% less energy, and last up to 25 times longer than incandescent lighting. Extensive usage of LED lighting has a notable impact on energy savings in the U.S. The majority of lighting installations are predicted to use LED technology by 2035. In addition, the energy savings from LED lighting could top 569 TWh yearly by 2035, equal to the annual energy output of over 92 1,000 MW power plants.
There is an increased demand for the LED lighting technology as it provides higher color rendering index and efficiency for existing lighting system. These features are the major driving forces to adopt LED lighting technology over conventional lightning systems such as florescent light sources. Due to demand for LED lightning, there is a growing demand for LED Phosphor, as it used to manufacture the LED lights. Phosphor is used to for the production of “white LEDs” to manufacture LCD backlighting units.
However, high initial price and temperature dependence are projected to hinder the expansion of the market. On the contrary, an upsurge in demand for LED phosphors in the electronics industry is expected to offer ample growth opportunities for the LED phosphors market. The electrical & electronics sector includes a variety of products, ranging from aerospace products, lamps, and light fixtures including light-emitting diodes, consumer electronics such as electrical household appliances, television sets, electronic medical equipment, and microelectronic components. LED phosphors are widely used in manufacturing of consumer electronics such as lighting equipment, LCD TVs & displays, and portable PCs LED.
The LED phosphors market is segmented into type, application, and region. On the basis of type, the market is categorized into phosphate, garnet, silicate, nitride, and others. On the basis of application, the market is fragmented into automotive, portable PCs, smartphones, flat panel TVs, signage, lighting, and others. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players that operate in the global LED phosphors market include Beijing Yuji International Co., Ltd., Edison Opto Corporation, General Electric Company, Harvatek Corporation, Intematix Corporation, Leuchtstoffwerk Breitungen GmbH, Lumileds Holding B.V., Luming Technology Group Co.,Ltd., Materion Corporation, Mitsubishi Signage Corporation, Nichia Corporation, Nippon Electric Glass Co.,Ltd., OSRAM GmbH, PhosphorTech Corporation and Tailorlux GmbH.
COVID-19 Analysis
The COVID-19 pandemic negatively impacted the end-use sectors including consumer electronics and automotive. The COVID-19 pandemic has had a swift and severe impact on the globally integrated automotive sector. Symptoms include a disruption in Chinese parts exports, large-scale manufacturing interruptions across Europe, and the closure of assembly plants in the U.S. According to global automotive industry analysis the automotive industry in Europe will need about 10 years to reach the size of 2019. However, the automotive sector in China has seen smaller losses, becoming the highest market with a production rate of 48.9 cars per minute after quickly recovering from the pandemic.Key Findings of the Study
- By type, the nitride segment was the highest revenue contributor to the market in 2021
- By application, the lighting segment was the highest revenue contributor to the market in 2021.
- Region wise, Asia-Pacific was the highest revenue contributor to the market along with the highest CAGR of 9.2%. South Korea and China are expected to witness considerable CAGRs of 9.9% and 9.7%, respectively, during the forecast period.
Companies Mentioned
- Beijing Yuji International Co. Ltd.
- Edison Opto Corporation
- General Electric
- Harvatek Corporation
- Intematix Corporation
- Leuchtstoffwerk Breitungen GmbH
- Lumileds Holding B.V.
- Luming Technology Group Co.Ltd.
- Materion Corporation
- Mitsubishi Gas Chemical Company
- Nichias Corporation
- Nippon Electric Glass Co.Ltd
- Osram GmbH
- Phosphortech Corporation
- Tailorlux Gmbh
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 387 |
| Published | July 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 14.22 million |
| Forecasted Market Value ( USD | $ 30.44 million |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
| No. of Companies Mentioned | 15 |
