Industry analyst firm NanoMarkets estimates that the total market value of LED phosphors used in lighting applications will grow from about $525 million in 2012 to a value of over $730 million by 2015 and to over $1.6 billion by the end of the forecast period in 2019. This growth represents a CAGR of over 17 percent over the eight-year forecast period. The predictions are detailed in the firms new report about the market for LED phosphors. Key players in the market include Seoul Semiconductor, Intematix, Mitsubishi, Nichia, Toyoda Gosei, Dow, Osram, GE, and Philips.
Nanomarkets forecasts that the shift towards LED lighting will benefit LED phosphor suppliers. Additionally the firm says that the switch towards LED backlit displays will also benefit the phosphor makers. However, the company predicts that the market value for LED phosphors in display backlighting is expected to decline, as growth in the underlying display markets are not expected to keep up with advancements that are leading to fewer LEDs-per-device and, hence, reduced consumption of phosphor materials.
NanoMarkets cites three key characteristics of LED phosphors that will be the most profitable. First, the company asserts that LED phosphors that provide better luminous efficacy, such as through higher internal quantum efficiency or reduced down-conversion loss, will help LED lighting better compete with fluorescent lighting for market share. Second, Nanomarkets says that phosphors that provide better color rendering are also still in demand, especially in the general illumination and display backlighting markets, where LEDs still perform poorly in comparison to the traditional incandescent lighting. Finally, the company claims says that phosphors and phosphor blends that enable LED lighting component manufacturers to better provide application-specific color temperatures are also needed.
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