LED lights are packaged arrays of light emitting diodes, which offer long lasting, economical & environment friendly lighting. LED lighting products deliver high electrical efficacy, high reliability, and longer lifespan. This results in energy savings, lower maintenance cost and environmental sustainability. Additionally, LED light offers uniform & bright light, high efficiency and durability. LED lights saves up to 80% energy cost. As compared to traditional technology, LED Lighting technology is more eco-friendly as it doesn’t emits harmful gaseous like CO2.
While LEDs are going mainstream, they have yet to become a commodity that continues to fuel growth. The global high brightness LED market size reached $14.4 billion in 2014 and is estimated to increase to $26 billion by 2018. The market demand for encapsulant /optic materials used in LED is expected to grow from nearly $300M in 2013 to $700M in 2019, driven mostly by the increased use of Si-based materials which offer better reliability / lifetime than traditional Epoxy material. With increasing demand for high output power, high brightness and superior thermal characteristics, demand for LED-use silicone encapsulants is forecast to nearly double to 855 tons by 2017, compared to 442 tons in 2012.
While Coretec’s Si-based optical materials remain under development they are believed to address the need for an affordable solution to improvements in light extraction. By partnering with others in the LED supply chain, we can assure the product ultimately created will meet the industry needs in a timely manner.