The global red phosphor market is expected to reach a market size of 686.77 Billion by 2028 and register a CAGR of 4.3% over the forecast period, according to latest analysis by Emergen Research. Growth of the market can be attributed to enhancements in lighting and new product launches, and rising demand for fertilizers and flame retardants globally.Major investments in research and development of red phosphor-based applications and products are other key factors supporting growth of the global red phosphor market. Increasing demand for fertilizers and other red phosphor-based agricultural products such as Light Conversion Film (LCF) and LED plant lamp (LED-pl) is also boosting market growth.
Demand for LED lights has been increasing in the past year due to rising consumer preference driven by high efficiency and less power consumption attributes of this technology. This in turn has been leading to rising demand for red phosphor used as lining in LED lights. Continuous product expansions and enhancements across lighting, agriculture, flame retardants, and automotive industries is contributing significantly to market growth. Phosphor-converted white-light-emitting diodes (pc-WLED) have become the next-generation solid-state lighting source in both indoor and outdoor lighting applications. Shift towards more energy efficient lighting technologies such as LED in developed and developing countries is expected to support market growth going ahead.
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Major Players/Manufacturers profiled in the report are:
BASF SE, Celestin Petroleum Co. Ltd., Changzhou Junlin Chemical Co., Ltd., Clariant AG, RIN KAGAKU KOGYO Co., Guangzhou Chemicals Co., Ltd., Nippon Chemical Industrial Co., Ltd., Jinding Group Co., LTD., Smart-elements GmbH, Prasol Chemicals Private Limited., Ltd., Rasa Industries Ltd., Smart-elements GmbH, Taj Pharmaceuticals Limited, Spectrum Chemical Mfg. Corp., UPL Ltd., and Wylton (China) Chemical Co., Ltd.
Key Highlights of Report
- By application, the red phosphor market is segmented into electronics, chemical, agricultural, metallurgical, and others (pyrotechnics and explosives). Increase in demand for fertilizers, LED lightings, and expanding range of applications of red phosphor are some factors driving revenue growth of this segment. Revenue share of the electronics segment is expected to expand at a steady CAGR during the forecast period.
- Revenue from the red phosphor market in Asia Pacific is expected to expand at a comparatively faster CAGR than other regional markets during the forecast period. This fast growth rate can be attributed to increasing demand for agriculture-related products such as fertilizers, light conversion film and led plant lamp in countries in the region.
- In November 2020, Nichia Corporation announced that it will start licensing TriGain technology from GE Current and use this technology for LED chip in order to improve LED efficacy by improving color rendering in LEDs
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For the purpose of this report, Emergen Research has segmented the global red phosphor market on the basis of product type, application, and region.
Product Type Outlook (Revenue, USD Billion; 2021–2028)
- General Purity
- High Purity
Application Outlook (Revenue, USD Billion; 2021–2028)
- Electronics
- Chemical
- Agricultural
- Metallurgical
- Others (Pyrotechnics and Explosives)
Regional Analysis:
The report sheds light on the region expected to dominate the Red Phosphor market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Red Phosphor market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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The report further sheds light on the strength, weaknesses, opportunities, and threats faced by the companies in the global Red Phosphor market and additionally measures the feasibility and investment return analysis in the report. Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market and covers the initial and future assessment of the COVID-19 impact on the market. The report is a qualitative and quantitative assessment of the global Red Phosphor market that has been formulated by extensive primary and secondary research with the data further validated from industry experts and professionals.
Key Benefits of the Report:
- Comprehensive analysis of the competitive scenario and its changing dynamics
- Analytical data with detailed SWOT analysis and Porter’s Five Forces analysis
- In-depth 8 year analysis of the Global Red Phosphor Market
- Critical assessment of the key market segments
- Comprehensive analysis of the drivers, restraints, trends, and opportunities
- Detailed regional analysis and extensive company profiling
- Extensive assessment of current and emerging trends of the market
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About Emergen Research
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