NEW YORK, April 27, 2018 (GLOBE NEWSWIRE) -- The global LED Encapsulation market is expected to witness a CAGR of 13.85% and is projected to reach USD 38.56 Billion by 2024. The growth of this market is propelled by demand for longer life of LEDs by protecting it from moisture, chemicals. Moreover, need of protection from solder joint fatigue in chip based LED is expected to further augment the growth of this market.
LEDs have been readily adopted in the field of electronics due to their low power consumption and simplistic design. Therefore, protection of LED has arisen as a basic requirement in its manufacturing process and will provide impetus to encapsulation market over the forecast period. Special encapsulation materials allow heat dissipation through them while providing protection from fluids and chemicals. Owing to these properties, LED Encapsulation has found its application in various industries such as consumer electronics, automotive, and telecommunication.
The report segments LED Encapsulation market on the basis of material used, by curing method, by end-use, and region. To view a summary of this report, go to the link provided below: https://www.energiasmarketresearch.com/global-led-encapsulation-market-report/
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Silicone encapsulation is expected to witness the highest growth rate over the forecast period. Epoxy had been the material of choice for LED encapsulation in the past. However, after recent developments in resin technology, silicone encapsulates has emerged as the preferred material for LED encapsulation and this trend is likely to continue over the forecast period. Silicone as an encapsulate material is flexible in nature and can operate exceptionally well within a wide range of temperature. Silicone encapsulates are also used to meet the various functional properties such as refractive index, heat resistance and light resistance. Moreover, silicone is safe in health and environmental aspect, as it is non-toxic and has no known health risks.
LED Encapsulation Market – Regional Insight
Asia-Pacific held the largest market share of the global market in 2017 and the trend is likely to continue over the forecast period. This can be attributed to the huge market for consumer electronics and automotive industry in China. Government funding & support, continued investments from investing companies and increase in demand from LED lighting in China is further increasing the demand of LED Encapsulation market. Furthermore, availability of skilled labor has made this region ideal for establishing manufacturing plants in China, India and Taiwan. North America held the second largest share of the global market. Presence of major key players has propelled the market growth in this region.
Key findings from the report:
- The global LED encapsulation market is likely to reach USD 38.56 million by 2024
- Room temperature curing segment is expected to witness the highest CAGR over the forecast period owing to easy processing and high reliability of the room temperature curing system
- Epoxy segment held the largest share of the market in the year 2017 owing to its effective electrical insulating characteristics combined with chemical resistance over a wide variety of operating conditions.
- Consumer electronics segment is expected to witness the fastest CAGR over the forecast period. This growth is attributed to the application of LED in consumer electronics industry as a lighting source.
- Asia-Pacific held the largest market share of the global market in 2017 and the trend is likely to continue over the forecast period. This can be attributed to the huge market for consumer electronics and automotive industry in this region
- The key players of this market are Dow Corning Corporation; Nusil; H.B. Fuller Company; Shin-Etsu Chemical Co., Ltd.; Henkel AG & Co. KGaA; KYOCERA Corporation; Hitachi Chemical Co. Ltd., Panasonic Corporation; Epic Resins, and INTERTRONICS
Material used
- Epoxy
- Silicone
- Polyurethane
Curing method
- Heat curing
- Room temperature curing
- UV curing
End-use industries
- Consumer electronics
- Automotive
- Telecommunication
- Medical
- Others
Type of LED
- Pinned LED
- Chip LED
Region
- Asia–Pacific (APAC)
- USA
- Europe
- Rest of the World
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