New product launches and expansions are the key strategies adopted by the industry players to achieve growth in the LED materials market between 2016 and 2021. Development of cost-effective products and more innovative features have led various manufacturers to focus on LED materials, thus leading to an increase in its demand. This has encouraged companies to adopt strategies such as new product launches, expansions, and agreements. Some of the key players, such as Sumitomo Electric Industries, Ltd. (Japan), Hitachi Metals, Ltd. (Japan), Nichia Corporation (Japan), and Epistar corporation (Taiwan) have adopted these strategies to develop their businesses globally. These strategies also accounted for a significant share of the overall growth strategies adopted by the players in the market between 2015 and 2017
Nichia Corporation (Japan) is one of the leading players in the LED materials market. As a part of its business strategy, Nichia focuses on new product developments and expansions. The company focuses on manufacturing high-quality products by employing the latest state of the art technology and improving the efficiency of its operations. In 2016, Nichia Corporation introduced the LED family 757G series which is designed for general lighting. These LEDs can be used in panel lights, bulbs, downlights, ceiling lights, high bays, tube lights, and ceiling lights.
Epistar Corporation (Taiwan) is a key manufacturer in the global LED materials market. The company aims to expand its market share and become one of the most innovative companies in the world. Epistar Corporation and Cree, Inc. agreed on a global patent cross-license agreement for LEDs to grow in the LED lighting and LED bulb market. This agreement also allowed the companies involved to use other's nitride LED chip LED patents. In addition, each company was granted certain rights to non-nitride patents as well. This allowed more innovation in the field of LED related products.
Companies such as Sumitomo Electric Industries, Ltd. (Japan), Hitachi Metals, Ltd. (Japan), Nichia Corporation (Japan), Epistar corporation (Taiwan), Cree, Inc. (U.S), Koninklijke Philips N.V. (Netherlands), and OSRAM Licht AG (Germany) are the most active players in the LED materials market.
LED Materials Market by Material Type (Substrate, Wafer, Epitaxy, Phosphor), Application (General Lighting (Residential, Industrial, Outdoor), Automotive Lighting (Interior, Exterior), Backlighting), and Region - Global Forecast to 2021
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