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LED Phosphor Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3925

LED phosphor market size is slated to experience a substantial boom from 2021-2027 owing to the rising preference for LED lighting technologies over conventional lighting systems. This can be attributed to the higher inclination towards operational efficiency with respect to cost and energy. The increasing utility of LEDs has paved the way for modern techniques for inventing as well as implementing color schemes.
 

LED phosphor is typically a photoluminescent material that can absorb the energy of blue and violet light from gallium nitride as well as other LED chips, to transform it into visible light. Phosphors are extensively deployed in this technology as they largely determine the LED's efficiency, stability, and light quality. The growing popularity of white LEDs will further bolster the market penetration.
 

However, the dearth of awareness regarding the benefits and the higher replacement costs in instances of failure will limit the product demand spurt to some extent.
 

With regard to LED phosphor materials, the copper-activated zinc sulfide segment will significantly grow with the increasing penetration of LED technology and lighting. These photochromic materials can reversibly change their color when illuminated and are hence widely utilized in smart adaptive windows. Benefits like non-toxicity and ease of synthesis at lower cost will also add huge impetus to the product adoption.
 

Based on end-use, LED phosphor market share from the automotive sector will expand with the growing focus on automotive lighting and swelling adoption in the manufacturing of various auto parts. Over the years, there has been a significant rise in demanding performance expectations, including intense heat and light characteristics specifically in the newest designs for headlights within vehicles. LED phosphor technology provides digitization of automotive headlights, offering entirely new functionalities like advanced driving beam (ADB). The surging need for various color requirements for headlights and booming automotive production will also enhance the market dynamics.
 

The LED phosphor market in Asia Pacific will expand with the increased manufacturing of consumer electronics including LCD TV & displays, lighting equipment, and portable PCs LED. There is growing government support for providing lands at lower prices to foreign investors for establishing LED factories in the region. Several policies have also been regulated for promoting energy-efficient lighting products. The rise in number of promotional campaigns for LEDs will additionally support the regional market development.
 

Europe LED phosphor market will witness expansion through 2027 due to the presence of favorable policies for minimizing energy consumption. The rising involvement of local participants in production activities has made way for enhanced market potential. The growing acceptance of higher efficiency lighting products and the surging rate of manufacturing of LED lighting sources in the region are other factors leading to the market progression.
 

Global LED phosphor market comprises the presence of Avago Technologies, Stanley Electric Co. Ltd., Osram Sylvania Inc. (Osram, OSRAM GmbH), Edison Opto Corporation, General Electricity Company, Kingbright Elec. Co., Nichia Corporation, Universal Display Corporation, Epistar Corporation, Seoul Semiconductor Co. Ltd., Philips Lumileds Lighting Company, Citizen Electronics Co. Ltd. (Citizen Watch), and Cree Inc.
 

These firms are constantly resorting to partnership-oriented growth initiatives, including mergers, acquisitions, and partnerships, along with technological advancements to multiply their revenue, portfolio, and sales.
 

For instance, in May 2021, GE inked a collaboration agreement with Current Lighting Solutions for producing small-size Potassium Fluorosilicate phosphor for MiniLED as well as MicroLED applications. The developed advanced versions will have material properties that are suitable for advanced display technology like emissive micro-LEDs.
 

Effect of the COVID-19 outbreak on LED phosphor market forecast

The global economy faced extensive heat of the COVID-19 crisis as it hampered the operational activities of a large number of businesses worldwide. The LED phosphor industry was also considerably affected by the pandemic as it witnessed the plummeted demand and supply from the automotive and consumer electronic sectors. This is concerning the regulation of various trade restrictions and lockdown policies which gave rise to stalled activities in these industrial verticals.
 

 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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