The recent LED TV industry crisis and the participation of China's LED packaging manufacturers have caused overcapacity in the industry, and industry consolidation is expected to reduce competition and stabilize prices. China experienced such industrial integration during 2014 and 2015, but its impact on the entire industry is still unknown. The recent LED TV industry crisis and the participation of China's LED packaging manufacturers have caused overcapacity in the industry, and industry consolidation is expected to reduce competition and stabilize prices. China experienced such industrial integration during 2014 and 2015, but its impact on the entire industry is still unknown. In fact, many small LED package manufacturers have gone bankrupt, and some medium-sized manufacturers have been merged, causing many companies to be out of sales. This triggered a strong decline in product prices, and other LED manufacturers had no choice but to follow the market price trend led by the Chinese LED industry. In the second half of 2015, the average selling price of low- and medium-power LEDs fell by 30-40%. Although the high-power LEDs were slightly less affected, the average selling price dropped by 20~30%. Globally, 2015 was a tough year for the LED industry, and the revenue of packaged LED products fell for the first time in history, from $15.1 billion in 2014 to $15 billion in 2015. The lower-than-expected demand for backlighting LED and LED lighting markets further exacerbated revenue declines. In addition, the sharp fluctuations in the exchange rate (the appreciation of the US dollar) have also led to a decline in revenues of many manufacturers. In 2016, the LED industry began to recover. The average selling price of packaged LED products has stabilized for highly commercialized inventory units such as low-power 2835 and medium-power 5630. Demand for high-power LEDs for lighting applications is bullish, but competition in this area is still fierce, and as competition intensifies, the average selling price of products may drop significantly. Therefore, this report expects the packaged LED market to maintain moderate growth in the next few years, and will grow to $18.5 billion by 2021 (compared annual growth rate of 3.4% during 2016-2021). LED package manufacturers need new growth points and product upgrades to win the market In the current sluggish market environment, many manufacturers decided to develop new market strategies to achieve differentiation with mainstream manufacturers and obtain higher profit margins: - Products Diversification (Level 1), development of new package types: Most use on-board chip LEDs, LED filaments, flip-chip LEDs and chip-scale package LEDs. - Diversify applications and develop niche applications: automotive lighting, horticultural lighting, etc. Other vendors are developing disruptive strategies to capture new growth points: - Product diversification (Level 2), development of non-visible LEDs: UV LEDs and IR LEDs. - Vertical integration to develop LED modules. In this area, with the acquisition of Luxvue by Apple, micro LEDs have become a new hot spot. A strong demonstration of these diverse trends is that the number of manufacturers in the UV LED industry has doubled in the past three years. Although the non-visible LED market (only $117 million in 2015) is still small compared to visible light LEDs, the growth trend for the next few years is considerable (expected to exceed $1 billion by 2021). This report comprehensively examines the LED packaging industry and market trends (Global + China), and analyzes in detail the recent development status and trends (technical, industrial and market conditions); visible LED (on-board chip, flip chip, filament, etc.) Niche applications (automotive lighting, etc.); non-visible LEDs (UV LEDs, infrared LEDs); vertical integration (LED modules); and new devices (micro LEDs). The results of China's industrial subsidy policy have emerged, local industries have begun to take off, and the market share of other regions in the world has been eroded. Chinese LED packaging manufacturers have gained a stable market position in the back-display market. They are now able to imitate foreign advanced technologies very skillfully. The general lighting market gains more market share. China is now the main manufacturing base for global LED lighting products, and major OEMs and ODMs have built factories in China. The wave of development in the LED lighting industry is driving the continued expansion of the local market and industry. In 2015, Chinese LED packaging manufacturers, including MLS (Mullinsen), Nationstar (National Star Optoelectronics) and Honglitronic (Hongli Optoelectronics), generated $2.9 billion in revenue, accounting for 19.3% of the global LED market revenue. This report details the LED packaging industry in China, analyzes the global LED packaging industry status (driving force, market share, etc.), and specifically introduces TOP 30 manufacturers (revenue, capacity, etc.) in this field. LED packaging industry is still full of opportunities for material suppliers With the rise of the general lighting market, LED packaging requires packaging materials to meet application requirements. For package substrates, high-power density devices are beginning to use ceramic substrates, and the market is expected to grow from $684 million in 2015 to $813 million in 2021. Driven by the growth in the use of silicone materials, seal/lens materials will also continue to grow (expected to grow from $400 million in 2015 to $526 million), and silicone materials have higher efficiencies than traditional epoxy materials. Reliability and longer life. For the fluorescent materials market, the main YAG (yttrium aluminum garnet) patent in 2017 is about to expire, and the market will face a large number of commercialization of products, as well as price pressure. Therefore, the market in this sector is expected to grow from only $339 million in 2015 to $346 million in 2021.
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