According to the research report titled ‘Global LED Packaging Market Size study, By Power Range (Low- & Mid-power LED packages, High-power LED packages), By Packaging Material (Plastic, Nanoceramic, Ceramics, Silicone Materials, Epoxy Molding Compound, Metal Alloys, Polymers, Glass Composites, Others), By Application (General Lighting, Automotive Lighting, Backlighting, Flash Lighting, Industrial, Others), and Regional Forecasts 2022-2028’, available with MarketStudyReport, global LED packaging market is expected to record substantial growth through 2028.

The growing demand for effective UV LED packages, the rising popularity of LED packages in the display panel sector, and the increasing government initiatives for the adoption of LED lighting systems are some of the chief factors driving the growth of global LED packaging market.

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Apart from this, the rising preference for UV LED-based curing technologies for print label and packaging solutions and the mounting use of CSP LEDs for lighting applications in automobiles would serve as stimulants for the market demand during the forecast timeline.

For the uninitiated, a plastic covering that houses an LED chip and phosphor is called an LED package. The semiconductor LED chip emits light, and some of this light is converted by the phosphor material into green and red wavelengths, which produces the white light discharged by the LED package.

However, the lack of standardization and the high level of saturation in this business sphere due to the high presence several manufacturers is likely to restrain the overall market expansion.

Based on the power range, the market is divided into high-power LED packages and low- & mid-power LED packages. Moving on to the packaging material, the industry is fragmented into glass composites, polymers, metal alloys, epoxy molding compounds, silicone materials, ceramics, nanoceramic, plastic, and others.

With respect to the application spectrum, the market is segregated into industrial, flash lighting, backlighting, automotive lighting, general lighting, and others.

From the regional point of view, the report claims that Asia Pacific market is anticipated to register the highest CAGR in subsequent years, owing to the rising adoption of high-end consumer electronics, the growing semiconductor sector, increasing investments in infrastructural development, and rising government initiatives for the adoption of LED lighting systems.

The major companies operating in the global LED packaging market are Stanley Electric Co. Ltd., LG Innotek, Shenzhen Crescent Optoelectronic Co. Ltd., Citizen Electronics Co. Ltd., Everlight Electronics Co. Ltd., Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., Lumileds Holding B.V., Osram Licht AG, and Nichia Corporation.