The Chip-On-Board (COB) LED Market is expected to grow at a CAGR of 17.1% to reach USD 3185 million by 2028. In the horticulture industry, Chip-On-Board (COB) LEDs have gained significant traction as an alternative to traditional lighting systems. COB LEDs are utilized not only for illumination in greenhouses but also for plant cultivation under controlled environments. Horticulture encompasses the production and marketing of food and non-food crops, including fruits, vegetables, medicinal plants, grasses, and ornamental trees and plants. These crops are grown in controlled settings, often distinct from their natural regional climate, necessitating the use of supplementary lighting. COB LEDs provide an effective solution for compensating for the absence of natural sunlight, ensuring optimal growth conditions for various horticultural applications.
APAC dominates the regional market because of The Chip-On-Board (COB) LED market in APAC is experiencing robust growth, fueled by the expanding demand for LED technology in commercial, residential, and industrial sectors. Rapid urbanization and the establishment of industries such as retail, hospitality, and healthcare create a favorable business environment. In addition, multinational corporations are setting up offices in the region, further boosting market growth. IT infrastructure development and the emergence of smart cities in several countries are significant factors driving market expansion. Key trends include impact resistance, water resistance, alkali resistance, brine resistance, eco-labeling, solvent reduction, high solids compositions, esterification, and polymer structure. Drying oils are also gaining importance in the industry. The construction sector's growth, coupled with government investments in infrastructure projects, presents substantial opportunities for the COB LED market in APAC.
There are various factors that drive the Chip-On-Board (COB) LED Market market which are as following: In the Chip-On-Board (COB) LED market, there is a growing emphasis among manufacturers to enhance the quality and luminosity of COB LED lighting products. To achieve this, they are integrating advanced technologies, such as tunable lighting, into COB LEDs. This innovation empowers users to adjust the color temperature of LED lights, enabling them to switch between warm and cool lighting tones with a single COB LED module. This versatility is gaining significant traction in both commercial and residential sectors, including retail stores, hotels, offices, hospitals, homes, and apartment lobbies. The adoption of tunable lighting solutions in COB LEDs offers numerous benefits, such as energy efficiency, long lifespan, and customizable lighting options, making it a preferred choice for various applications.
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Chip-On-Board (COB) LED Market Segmentation
The market witnesses several challenges, which are as follows The global Chip-On-Board (COB) LED market is anticipated to experience some limitation in growth during the forecast period due to the emergence of new LED technologies, specifically Chip Scale Packaging (CSP) LEDs. CSP LEDs, which are based on flip-chip technology, offer a significant reduction in LED chip size by eliminating the packaging step. This cost-effective production method has made CSP LEDs a popular choice for integration into compact devices such as smartphones and TV displays. The CSP LED technology involves mounting LEDs in an inverted position and incorporating solder bumps for direct contact with electrodes. This innovation has enabled the miniaturization of electronic devices, potentially impacting the demand for COB LEDs.
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Some of the key companies that have been profiled in the report include:
The Chip-On-Board (COB) LED market is a significant segment of the global semiconductor industry, which encompasses companies producing integrated circuits (ICs) such as memory, logic, analog, and micro components, optoelectronics, sensors, and discrete semiconductors. According to Technavio, the global semiconductor market size is determined by the revenue generated from the shipment of semiconductor ICs to original equipment manufacturers (OEMs) and original design manufacturers (ODMs), including fabless and integrated device manufacturers (IDMs). Factors driving market growth include increased investments in constructing new and expanding existing semiconductor fabrication plants (fabs) using advanced materials such as thermoplastic, organic polyesters, polycondensation, polyhydric alcohol, polybasic acid, fatty acids, and triglyceride oils for coating applications. These materials ensure improved brightness and color consistency in COB LEDs, making them increasingly popular in various industries. The global semiconductor market is poised for growth due to the increasing demand for advanced electronics, automotive, and industrial applications. - The Chip-On-Board (COB) LED Market is experiencing significant growth, fueled by the Technological innovations in COB LEDs. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The Chip-On-Board (COB) LED market employs various materials for encapsulation, with thermoplastic resins like organic polyesters being popular. These polyesters are produced via polycondensation, using polyhydric alcohols and polybasic acids, as well as fatty acids and triglyceride oils. Coating applications require high brightness and color consistency, as well as thermal stability. Materials like palm oleic acid, natural alkyd resins, and vegetable oils (linseed oil, castor oil, soybean oil, tall oil) are used. Unreacted acids, hydroxyl groups, and compatibility are crucial factors in material selection. Industrial coatings include nondrying alkyd, semidrying alkyd, drying alkyd, acrylated alkyd, waterborne alkyd, and silicon modified alkyd. Polyol is another essential component, with varying molecular weights influencing the final product's properties.
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