LED Phosphor Market Size, Share & Trends Analysis Report By Application, Regional Outlook, Competitive Strategies, And Segment Forecasts, 2019 To 2025

The global LED phosphor market has gained prominence with growing usage of LEDs. This growth can be majorly attributed to the operational efficiency they provide in terms of cost and energy. Over time, demand for phosphor has escalated owing to its applications in fluorescent lighting and progression & development of innovative phosphor solutions. Innovative methods of utilizing phosphor are under development with major focus on altering blue light into a variety of colors. The use of LEDs is on a rise mainly due to a wide range of its lighting applications. Moreover, LEDs consume less power, are efficient, and have a longer life. These factors have subsequently led to remarkable growth in the market over the forecast period. Breakthrough innovations and technological penetration have further accelerated market growth and redefined the operating functions in the market.

Modern techniques of inventing and implementing color schemes in LEDs are currently dominating the global LED phosphor market. The development of a new composition from the spectrum of colors is perceived to be a great opportunity for market players. Besides this, manufacturers are emphasizing on improving the quality of LED phosphor. The extremely competitive setting in the market due to a large number of international and domestic vendors is perceived to be extremely favorable for the growth of the market across the globe. The companies are looking out for ways to develop new products that possess longer life and wavelength with better color stability in order to outperform the products currently existing in the market.

The LED phosphor market can be segmented on the basis of end-user applications and the technology used. LED phosphor finds a range of applications in automotive, portable PCs smartphones, LCD TVs, and residential & commercial lighting. The technologies used in LED phosphor comprises of remote phosphor, direct contact, package-free, modular light engine, thin-film, and Embedded LED Chip (ELC) technologies.

The global market is currently facing the challenge of sub-standard color rendering, change in color temperature, and an unlikely change in the temperature of the LED phosphor making it operationally unstable. The entry of new patents in the market has subsequently led to conflicts among several market players over the Intellectual Property (IP) rights. At present, the phosphor material is perceived to face tough competition from quantum dots technology. This has led the manufacturers to incline towards quantum dots technology over phosphor materials. Apparently, this shift is perceived to act as a restraining factor for the global market.

Geographically, the Asia Pacific region is expected to witness a surge in the growth of the LED phosphor market especially in the countries of China, Japan, and South Korea. These countries are extensively involved in the manufacturing process of consumer electronics such as LED and LCD TV & displays, lighting equipment, portable PCs such as laptops & netbooks, smartphones, and automotive parts. LED phosphor finds applications in such consumer electronics and it subsequently has propelled market growth in this region. The European region is implementing policies to minimize energy consumption in order to attain their goal of creating a sustainable environment. Thus, the energy-efficient market is expected to witness high growth in this region. Furthermore, increased market potential and high involvement of local players in production activities have fueled the market growth in the European region. In North America, especially in countries such as the U.S. and Canada, policies are being put into operation to motivate consumers to adopt energy-efficient lighting products. LED lighting is a better and cost-efficient alternative than most existing lighting solutions is drawing many consumers, thereby accelerating the market growth in this region.

Key players dominating the global LED phosphor market are Avago Technologies, Citizen Electronics Co. Ltd., General Electricity Company, Kingbright Elec. Co., Philips Lumileds Lighting Company, Stanley Electric Co. Ltd., and Universal Display Corporation.