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The global LED secondary optic industry is anticipated to experience remarkable growth between 2022 and 2027, led by robust demand across key application segments. LED secondary optic are those which come with the LED package, as opposed to optics including Fresnel lenses, pillow lenses, reflector cavities, that are not. To create the desired appearance and beam of light pattern of LED lamp, a secondary LED optic is used. The increased use of intelligent and cordless LED in the commercial and residential sectors is what is driving the demand for secondary LED optic.
Growing demand for large-width wafers and a shift toward sapphire substrates are key drivers of the market's expansion. Additionally, it is anticipated that in the upcoming years, the growing development of street lighting in smart towns would accelerate the expanding need for LED secondary optics. In the upcoming years, it is anticipated that the necessity of LED secondary optic will increase due to the fast-falling cost and the LED's increased efficiency.
Business Research Insights forecasts the worldwide market for LED secondary optic to hit USD 5.6054 billion by 2027, growing at a CAGR of 19.3% during 2022-2027. High luminous effectiveness, smaller size, reduced heat emission, and longer life are the main characteristics of LED secondary optic that will aid in increasing demand in the market for LED secondary optics.
COVID-19 Disrupted the Supply Chain of the LED Secondary Optic
Due to the stringent shut downs and travel bans brought on by the COVID-19 pandemic, the systems used to handle the world's supply chains have suffered. The market for LED secondary optic has suffered because of the COVID-19 epidemic. Lockdowns and tight social distance norms made it necessary for the manufacturing facilities of LED secondary optics to operate with a minimum crew. The development of LED secondary optic business has been negatively impacted by this.
Top 5 LED Secondary Optic Manufacturing Companies Globally
- Zambon (Italy)
Italy-based Zambon has been operating in the pharmaceutical and fine chemical sector since 1906. The company has business operations across three continents: Europe, Asia, and South America. Zambon employs more than 2,600 people across 15 countries.
In July 2019, Zambon completed the acquisition of Breath Therapeutics to boost development of solutions for bronchiolitis obliterans syndrome, an uncommon respiratory disease.
- Nippon Rika (Japan)
Headquartered in Tokyo, Japan, Nippon Rika is one of the world’s leading manufacturers of non-metallic mineral products. Based on robust synthesis technology and high-quality assurance, the company is one of the world’s leading producers of bulk pharmaceutical chemicals complying with the Good Manufacturing Practice (GMP) regulations of Japan, the EU, and the U.S. Nippon Rika has approval for the production of bulk pharmaceutical product from the U.S. FDA and the Japanese Ministry of Health, Labor, and Welfare (MHLW).
- PharmaZell (India)
PharmaZell provides a rich portfolio of small molecule Active Pharmaceutical Ingredients (APIs) along with custom manufacturing and development services for the originator and generic pharmaceutical sector. The company operates with about 750 employees across three major production sites, two in India and one in Germany.
In September 2021, PharmaZell announced a merger with Novasep, to expand SPI and CDMO service offerings.
- Moehs (Spain)
Moehs Groups represents a dynamic group of companies in the pharmaceutical ingredients business. The company manufactures and sells more than 75 products across around 90 countries across the world. Moehs has seven manufacturing units worldwide that are highly flexible due to being multipurpose plants. The company has a number of research & development centers for the synthesis of APIs.
- Wuhan Grand Hoyo (China)
Wuhan Grand Hoyo Company Ltd. is a Chinese company specializing in the research, synthesis, development, and commercialization of amino acids and related derivatives. The company provides its products and services to customers all across China. Wuhan Grand Hoyo also specializes in the production of APIs. Amino acids and derivatives produced by the company are used in food/feed additives, pharmaceuticals, nutritional supplements, and other applications. The company has CEP certification for acetylcysteine.
Cost Effectiveness and Need for Wireless Equipment to Generate Robust Demand
The primary characteristics of LED secondary optics, such as high radiant proficiency, compact structure, low heat emission, and longer lifespan, will profit from rising demand in the market for LED secondary optics. LED is efficient, cost-effective, and uses less energy. Customers switch from incandescent or CFL bulbs to LED lighting systems as a result. The global need for wireless equipment is likely to be driven by both the business and residential sectors. With wireless technology, laptops or mobile phones are used to remotely monitor LEDs. These elements are probably what fuels the expansion of the LED secondary market.