LED Materials Market | Exactitude Consultancy Reports

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LED Materials Market by Type (Wafer, Substrate, Epitaxy, Others), Application (General Lighting, Automotive Lighting, Consumer Electronics, Backlighting, Others), and Region, Global trends and forecast from 2022 to 2029

The LED Materials Market is expected to grow at 10.75% CAGR from 2022 to 2029. It is expected to reach above USD 35.18 billion by 2029 from USD 11.25 billion in 2020.

A light-emitting diode, sometimes known as an LED, is a semiconductor device that emits light when an electric current passes through it. As the current-carrying electrons and holes collide within the semiconductor material, light is emitted. LEDs are solid-state devices since the light is generated inside the solid semiconductor material.

Segment Analysis
The market is divided into substrate, wafer, epitaxy, and others segments based on type. By 2029, the wafer LED materials segment is anticipated to command the most market share. This is because more people are using wafers that are six and eight inches in size and are more cost-effective. Many LED manufacturing businesses favor large-diameter wafers. This is due to the large yield of materials used in big-diameter wafers compared to other types of materials. These are the main forces behind wafer LEDs that are anticipated to propel this market segment’s expansion during the course of the forecast.

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