Global Light-emitting Diode (LED) Materials Market: Overview
Light-emitting diode (LED) is a semiconductor gadget that discharges light when electric flow is gone through it. Light is delivered when particles conveying the current (known as electrons and gaps) consolidate with each other inside the semiconductor material. Diodes, typically made of slim layers of the semiconductor material, contain a solitary layer of electrons in overabundance, while the following diode has deficiency of electrons. LEDs are made of compound semiconductor materials, which are made of components from gathering III and gathering V of the occasional table, especially known as III-V materials. Instances of III-V materials ordinarily used to fabricate LEDs are gallium arsenide (GaAs) and gallium phosphide (GaP). Real semiconductor materials used to produce LEDs are indium gallium nitride (InGaN), aluminum gallium indium phosphide (AlGaInP), aluminum gallium arsenide (AlGaAs), and gallium phosphide (GaP). Gallium arsenide is the most broadly utilized material in every significant class of LED, for example, smaller than expected LED, high-control LED, and application-explicit 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.
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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.