Los Angeles, December 2, 2019 – QY Research published a study report titled, “Global LED Encapsulation Market Report, History and Forecast 2014-2015,” for the projected period of 6-years. According to the report the global LED Encapsulation market was valued at US$ 1.92 Bn, in 2018 and is anticipated to reach over US$ 2.58 Bn by 2025. The market is anticipated to exhibit a moderate CAGR of 4.3% from 2019 to 2025. LED Encapsulation has extensive usage for insulation and mainly applied to increase product reliability. LED Encapsulation is also known as potting as it ensures LED can perform in all environments providing global acceptance for this technology.
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Enhanced Insulation Provided by LED Encapsulation to Fuel the Growth of the Market
Special properties of encapsulation such as heat dissipation and protection offering enhanced insulation are expected to propel the global LED Encapsulation market. Automotive, electronics, and telecommunication sectors have an increasing demand for LED Encapsulation, which is expected to boost the market growth over the next few years. Increasing emphasis by the manufacturers on technological advancement in LED packaging is anticipated to further fuel the growth of the market. Increasing demand for mid and high powered silicone LEDs is expected to stimulate the growth of the global LED Encapsulation market.
Advantages of LED Such As Low Power Consumption is Expected to Drive the Growth of the End User Segment
Based on product, the market is segmented into Polyurethane, epoxy, and silicone. Polyurethane resins properties such as moisture resistance and adhesion offer longer operational life for LEDs, which is likely to boost the growth of the product segment. Based on end-users the market is bifurcated into automotive, consumer electronics, architectural lighting, and others. LEDs have extensive usage in the electronics and automotive sector due to low power consumption and longer life, which is estimated to drive the growth of the end-user segment.
Growing Consumer Electronics and Automobile Industry to Boost the Growth of Asia Pacific Market
Asia Pacific region is expected to witness high demand for LED Encapsulation due to increasing demand for high and medium power LEDs, growing automobile and consumer electronics sector in the region. The region is anticipated to witness growth due to increasing demand for TVs, monitors, and tablets.
Key Players Are Inclined to Offer Cost-Effective Products to Gain Competitive Edge
Top manufacturers of the industry include Nagase, Wacker Chemie AG, Nusil, Nitto Denko Corporation, Wacker Chemie AG, Hitachi Chemical, SolEpoxy, Quantum Silicones, and Epic Resins. Manufacturers of LEDs are keen to collaborate with the material specialist for improving product development. Companies are also inclined to provide cost-effective products and improve product optimization to gain a competitive edge.
QY Research established in 2007, focus on custom research, management consulting, IPO consulting, industry chain research, data base and seminar services. The company owned a large basic data base (such as National Bureau of statistics database, Customs import and export database, Industry Association Database etc), expert’s resources (included energy automotive chemical medical ICT consumer goods etc.
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