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LED Phosphor Market Size
LED Phosphor Market register significant growth between 2024 and 2032, driven by rising partnerships among leading companies. These collaborations aim to leverage combined expertise and resources to develop innovative phosphor solutions that meet evolving industry needs. For instance, in January 2024, Seaborough B.V., a leading company in Chemicals and LED technology, teamed up with Current Chemicals in a collaborative effort to bring Seaborough's innovative "EuroLED" phosphor red technology to the market at an industrial scale. This groundbreaking technology represents a significant advancement in the LED industry by introducing Eu3+ phosphors into LEDs for the first time, addressing a persistent challenge. EuroLED harnesses nano-engineering techniques to transform the luminescent properties of phosphor materials, marking a revolutionary step forward in LED technology.
By joining forces, companies can accelerate research and development efforts, leading to the creation of high-performance LED phosphors with enhanced efficiency and color quality. As partnerships facilitate access to new technologies and markets, the demand for LED phosphors could continue rising, driving further growth in the market.
The LED Phosphor market is witnessing increased demand due to rising patent acquisitions by leading companies. As companies acquire patents for innovative phosphor technologies, they gain a competitive edge in the market, driving demand for their products. These acquisitions enable companies to access exclusive phosphor formulations, enhancing the efficiency and performance of LED lighting solutions. By securing patents, companies can protect their intellectual property while fostering innovation and advancing the LED phosphor industry, ultimately fueling further growth and development.
For instance, in October 2023, Jufei Optoelectronics obtained the patent family for S/CASN phosphor from Panasonic Corporation of Japan. This phosphor, known as CASN phosphor, is a type of nitride red phosphor with the molecular formula CaAlSiN3. It is also referred to as 1113 phosphor due to its chemical formula atomic coefficient being 1113. When paired with blue LED chips and green phosphor, CASN phosphor can generate white light, making it a popular choice for lighting and backlight applications.
Despite its growth, the LED Phosphor market faces notable restraints. Regulatory hurdles, including compliance standards and environmental regulations, can pose obstacles to market entry and product development. Additionally, the initial cost of LED phosphors compared to conventional lighting options may deter potential buyers, impacting market demand. Moreover, the complexity of phosphor formulations and potential issues related to color quality and stability may also limit adoption. Addressing these restraints is crucial for sustained growth and innovation in the market.
LED Phosphor Market Trends
LED Phosphor industry is experiencing significant trends driven by increasing research and development efforts. Manufacturers are investing in innovative phosphor formulations to enhance the efficiency, color rendering, and stability of LED lighting solutions. Advanced R&D initiatives are focusing on improving phosphor materials to meet the evolving demands of various applications, from general lighting to displays and automotive lighting. As research and development in LED phosphors continue to advance, the market is poised for further growth and innovation, shaping the future of lighting technology.
To cite an instance, in August 2022, it was revealed that the pervasive use of white light emitting diode (WLED) lighting leads to chronic exposure to blue light, which adversely affects circadian rhythm and human health. A newly published study in ACS Sustainable Chemistry & Engineering introduced a prototype LED chip-pumped system that utilized blue phosphor. This system generated warm white light with reduced blue light intensity, offering potential benefits for human health. The innovative blue phosphor presented an opportunity to expedite the production of human-centric WLED lighting solutions.
LED Phosphor Market Analysis
In terms of material, the LED phosphor industry remuneration from copper-activated zinc sulfide will rise significantly over 2032 owing to the surging adoption of LED lighting technology. In the recent past, copper-activated zinc sulfide materials have gained prominence in LED manufacturing considering their non-toxic and low-cost synthesis capabilities. With appealing color-changing characteristics, these photochromic materials are experiencing rising application across smart adaptive windows, further driving market demand. With its ability to improve light quality and energy efficiency, copper-activated zinc sulfide phosphor continues to drive demand in the market.
With regards to end-use, the automotive sector will hold a notable share of the LED phosphor industry by 2032 due to the increasing demand for luxury automobiles worldwide. The automotive sector has undergone substantial transformation over the past few decades, accelerating the emphasis on advanced automotive lighting enabled by next-generation technologies such as AI and IoT. The foray into automation is also set to spur the demand for LED phosphor technology for the digitization of automotive headlights, supporting novel functionalities such as advanced driving beams (ADM).
Asia Pacific LED phosphor market will witness notable expansion from 2024-2032, driven by the booming consumer electronics sector in the region. With rapid urbanization and growing disposable incomes, the consumption of products such as LCD TVs, portable PCs, and lighting has increased dramatically, thus accelerating the need for LED components. Moreover, the growing emphasis on energy-efficient systems in line with stringent emission control policies will propel the expansion of the LED phosphor industry in APAC.
LED Phosphor Market Share
Major companies operating in the LED phosphor industry competitive landscape include:
- Stanley Electric Co. Ltd.
- Avago Technologies,
- Osram Sylvania Inc. (Osram, OSRAM GmbH)
- General Electricity Company
- Edison Opto Corporation
- Kingbright Elec. Co.
- Universal Display Corporation
- Nichia Corporation
- Epistar Corporation
- Philips Lumileds Lighting Company
- Seoul Semiconductor Co. Ltd.
- Citizen Electronics Co. Ltd. (Citizen Watch)
- Cree Inc.
LED Phosphor Market News
In January 2024, Cree LED, a subsidiary of SGH company, and Current Lighting Solutions, LLC announced a patent license agreement, concerning Current’s patents related to KSF (also known as PFS) red phosphor. Under this agreement, Current has granted Cree LED a limited, nonexclusive, worldwide license under U.S. Patent. This license encompasses Cree LED products featuring Pro9 technology, which utilizes Potassium Fluoride Silicon (KSF/PFS phosphor) to enhance LED component efficiency, particularly for those offering higher Color Rendering Index (CRI).