PLED Market Size

PLED Market size was valued at USD 23.8 Billion in 2023 and is poised to grow from USD 24.37 Billion in 2024 to USD 29.46 Billion by 2032, growing at a CAGR of 2.40% during the forecast period (2025-2032).

These companies are involved in research and development activities to develop more efficient and cost-effective PLEDs. They also focus on strategic collaborations, partnerships, and mergers and acquisitions to expand their market presence and increase their customer base. In addition to these major players, there are also several smaller players and startups in the market that focus on niche applications and specialized products. These players often compete based on innovation, flexibility, and customization capabilities. 'Sumitomo Chemical Co., Ltd. (Japan)', 'Merck KGaA (Germany)', 'LG Chem Ltd. (South Korea)', 'Universal Display Corporation (United States)', 'Osram GmbH (Germany)', 'Novaled GmbH (Germany)', 'Konica Minolta, Inc. (Japan)', 'Samsung SDI Co., Ltd. (South Korea)', 'BASF SE (Germany)', 'DuPont de Nemours, Inc. (United States)', 'Panasonic Corporation (Japan)', 'Dow Inc. (United States)', 'Covestro AG (Germany)', 'Idemitsu Kosan Co., Ltd. (Japan)', 'Henkel AG & Co. KGaA (Germany)', 'Mitsubishi Chemical Corporation (Japan)', 'AGC Inc. (Japan)', 'Heraeus Holding GmbH (Germany)', 'Kaneka Corporation (Japan)', 'Toray Industries, Inc. (Japan)', 'Sumitomo Bakelite Co., Ltd. (Japan)', 'The Chemours Company (United States)'

PLEDs are known for their energy efficiency, as they consume less power compared to traditional lighting solutions. With the growing demand for energy-efficient lighting solutions to reduce energy consumption and greenhouse gas emissions, the demand for PLEDs is expected to increase.

PLEDs offer several advantages over traditional automotive lighting solutions, including improved energy efficiency and design flexibility. The increasing demand for energy-efficient and aesthetically appealing automotive lighting solutions is driving the adoption of PLEDs in the automotive industry.

The Asia Pacific region is expected to dominate at a CAGR of 19.5% in 2021. The Asia Pacific region is expected to dominate the PLED market during the forecast period due to the presence of major manufacturers and suppliers of PLED materials and technologies in the region. The increasing demand for PLED displays and lighting in countries such as China, Japan, South Korea, and India is also driving the growth of this market.