Enjoy complimentary customisation on priority with our Enterprise License!
The LED phosphors market share is expected to increase by USD 3.44 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 20.18%.
This LED phosphors market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers LED phosphors market segmentation by application (smartphones, LCD TVs, laptops/tablets, automotive, and others) and geography (APAC, Europe, North America, South America, and Middle East and Africa). The LED phosphors market report also offers information on several market vendors, including BBandS Lighting, Bridgelux Inc., Citizen Watch Co. Ltd., Denka Co. Ltd., EPISTAR Corp., Everlight Electronics Co. Ltd., General Electric Co., Intematix Corp., Lumileds Holding BV, Materion Corp., Merck KGaA, Mitsubishi Chemical Corp., Monocrystal, Nichia Corp., OSRAM Licht AG, Phosphortech Corp., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc., Yantai Tongli High-tech New Materials Co. Ltd., and Yuji International Co. Ltd. among others.
Download the Free Report Sample to Unlock the LED Phosphors Market Size for the Forecast Period and Other Important Statistics
The adoption of LED phosphors in the automotive industry is notably driving the LED phosphors market growth, although factors such as slowdown of the global automotive industry may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the LED phosphors industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key LED Phosphors Market Driver
One of the key factors driving the global LED phosphors industry growth is the adoption of LED phosphors in the automotive industry. In the automotive industry, the use of LED technology is limited to high-end vehicles. A laser automotive headlight produces both blue light from the laser itself and yellow light from a phosphor converter layer. In the case of white LEDs, the laser diodes blue emission combines with the phosphors yellow emission to create white light. Various research and development (R&D) efforts were taken globally, which helped address technical issues related to laser automotive headlights. For instance, researchers at National Chung Hsing University and Taiwan Color Optics developed LED phosphors that offer high stability and enable lower manufacturing costs. Thus, the high adoption of LED phosphors by the automotive industry will drive market growth during the forecast period.
Key LED Phosphors Market Trend
Development of new LED phosphor materials is one of the key LED phosphors market trends that is expected to impact the industry positively in the forecast period. Phosphor materials are available in a wide range of forms, mesh sizes, and purities, such as powders, granules, targets, and pieces. Vendors engage in developing new, experimental phosphor materials that have tailored physical properties. For instance, recent advancements in red phosphor materials have yielded warm white LEDs with correlated color temperature (CCT) values ranging from 2700K-4000K and a minimum color rendering index (CRI) value of 80. In addition, to tackle the intense competition in the global LED phosphors market, key market players continuously invest in the R&D of new phosphor materials, which lead to better quantum efficiencies and lumen equivalent ratios. For instance, narrow-band red-emitting phosphors are considered the next-generation LED-phosphor material. Thus, the growing development of new LED phosphor materials will drive the market growth during the forecast period.
Key LED Phosphors Market Challenge
One of the key challenges to the global LED phosphors industry growth is the slowdown of the global automotive industry. In 2019, global automobile production declined by 5%, as less than 92.2 million cars, trucks, and buses were manufactured. The automotive manufacturing industry in China had a production share of 28% in the global market in 2019, with the country manufacturing 25.7 million vehicles in that year. This slowdown in global automobile production continued in 2020 due to the COVID-19 pandemic. According to OICA, there was a 16% decline in the production of motor vehicles in 2020, with less than 78 million cars being manufactured, which was equivalent to the sales level of 2010. Furthermore, 25.22 million units of motor vehicles were produced in China in 2020, which was a decline from the 25.72 million units manufactured in 2019. In North America, 15.7 million units of motor vehicles were manufactured in 2020. These factors can pose a challenge to the vendors operating in the market during the forecast period.
This LED phosphors market analysis report also provides detaiLED information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global light-emitting diode (LED) phosphors market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the LED phosphors market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the LED phosphors market encompasses successful business strategies deployed by the key vendors. The LED phosphors market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The LED phosphors market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the LED phosphors market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
For more insights on the market share of various regions Request for a FREE sample now!
49% of the market's growth will originate from APAC during the forecast period. China, Japan, and South Korea are the key markets for LED phosphors in APAC. Market growth in this region will be faster than the growth of the market in North America and MEA.
The high demand for LED phosphors owing to investment in R and D and their wide adoption will facilitate the LED phosphors market growth in APAC over the forecast period. This market research report entails detaiLED information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
To gain further insights on the market contribution of various segments Request for a FREE sample
The LED phosphors market share growth by the smartphones segment will be significant during the forecast period. The significant increase in the demand for LED phosphors from leading smartphone manufacturers will support the market growth through this segment during the forecast years.
This report provides an accurate prediction of the contribution of all the segments to the growth of the LED phosphors market size and actionable market insights on post COVID-19 impact on each segment.
LED Phosphors Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.18% |
Market growth 2022-2026 |
$ 3.44 billion |
Market structure |
Fragmented |
YoY growth (%) |
19.25 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 49% |
Key consumer countries |
US, China, Japan, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
BBandS Lighting, Bridgelux Inc., Citizen Watch Co. Ltd., Denka Co. Ltd., EPISTAR Corp., Everlight Electronics Co. Ltd., General Electric Co., Intematix Corp., Lumileds Holding BV, Materion Corp., Merck KGaA, Mitsubishi Chemical Corp., Monocrystal, Nichia Corp., OSRAM Licht AG, Phosphortech Corp., Seoul Semiconductor Co. Ltd., SMART Global Holdings Inc., Yantai Tongli High-tech New Materials Co. Ltd., and Yuji International Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.