LED industry chain introduction
Light-emitting diodes are abbreviated as LEDs and are made of compounds containing germanium, arsenic, phosphorous, nitrogen, etc. The LED upstream mainly refers to the upstream epitaxial chip, that is, the chip inside the LED lamp bead, and related materials, including: High-purity gas , Substrate Material, MO Source, Alumina, Phosphor, Silicone, Gold Wire, Epoxy Resin, Silver Glue, etc.
LED downstream applications refer to finished products, including LED display , LED lighting products and a variety of LED lighting products. At the same time, LED downstream also includes the development of some of the surrounding industries, such as drive power, control systems, hardware boxes, control software and so on.
Chart 1: LED industry chain
Epoxy resin production increases steadily
Epoxy resin is used in energy-saving LED must use important materials. Practice has proved that determine the performance of LED in addition to the quality of the chip itself and other factors, the choice of epoxy resin is also an important factor. Therefore, the LED packaging process must be based on different occasions , Select different resins to ensure that the product meets the requirements of use to the maximum extent possible.
Epoxy resin generally refers to a polymer oligomer containing two or more epoxy groups, and an aliphatic, alicyclic or aromatic organic compound as a skeleton and capable of forming a useful thermosetting product through the reaction of an epoxy group. In 2011-2016, China's epoxy resin production increased year by year. In 2016, China's epoxy resin production was approximately 1.43 million tons, an increase of 19.17% year-on-year.
Exhibit 2: China's epoxy resin output and year-on-year growth from 2011 to 2017 (Unit: 10,000 tons, %)
LED landscape lighting market is good
The goal of LED landscape lighting is to harmonize the landscape lighting with the landscape, because of the 'scape', due to architectural features, to achieve a new level of beautifying the environment. Landscape lighting is the traditional downstream market in the field of LED lighting, and so far LED in the The most mature branch of the lighting industry, LED has successfully occupied the absolute market share in landscape lighting due to its high efficiency, low energy consumption, safety and reliability, convenient management, outstanding social and economic benefits.
Landscape lighting is rapidly growing under the influence of government forces. It is mainly based on decorative lighting in public places such as streets and squares, which can save 70% of electric energy. Common landscape lamps include: garden lights, trail lights, buried lights, small spotlights, Lawn lights, fast lane lights, wall lights, sculpture decorations, etc.
Looking Forward to the Industry Research Institute's "2018-2023 China LED Lighting Industry Market Forecast and Investment Strategic Planning Analysis Report" data display Since 2011, the scale of China's LED landscape lighting market has continued to grow year by year. The market size in 2016 was about 44.5 billion yuan, which was a year-on-year increase of 8.80% from 40.9 billion yuan in 2015.
Exhibit 3: China LED Landscape Lighting Market Size 2011-2017
LED street lamp develops rapidly
The LED street lamp is a semiconductor lighting lamp, which is an efficient solid-state light source that is formed based on a semiconductor PN junction and emits light with weak electric energy. Under a certain forward bias voltage and injection current, holes and N atoms injected into the P region are injected. The electrons in the area are diffused into the active area and then radiated and combined to emit photons, converting the electric energy directly into light energy. It is a solid-state cold light source, which has the characteristics of environmental protection, pollution, low power consumption, high luminous efficiency, and long service life. Therefore, LED street lamps will be the best choice for road lighting energy-saving renovation.
As the main body of urban lighting, urban road lighting has experienced rapid growth along with the rapid development of urban construction in China. In 2008, China launched the “Ten City Wanhao” LED application pilot demonstration project. The target is 21 in the country before the end of 2011. The demonstration city lights up 6 million LED street lamps, which were respectively 1 million tons, 2 million tons and 3 million tons in 2009-2011. In 2012, 5 million LED street lamps were planned to be built. After the project started, Beijing, Dongguan, Xiamen, Shijiazhuang More than ten cities have begun investing in new or retrofit projects for LED street lamps.
Driven by the “Ten City Million” policy, China’s LED street lamp market will continue to grow. In recent years, China's LED street lamp market penetration rate (number of installations) has been continuously increasing. In 2016, the market size of China’s LED street lamps will be approximately RMB 29 billion. about.
Exhibit 4: Market Size of China's LED Street Lamps, 2011-2017 (Unit: 100 million yuan)
LED display Universal application
LED display Screen is a kind Tablet display , consisting of a small LED module panel. LED display The screen is generally used to display various information such as text, images, video, video signals, etc. The LED display is an early product in the entire LED industry chain, and has maintained rapid growth in the past ten years. With the development of LED display As technology becomes more mature, the corresponding product specifications and standardization are also at a high level.
The data show that: In 2016, the overall scale of the LED display application industry in China continued to increase. The industry’s annual total market amounted to RMB 33.2 billion, an increase of 3.75% from RMB 32 billion in 2015. The growth rate was slightly lower than that of 2015.
Exhibit 5: China's LED display market scale change from 2011 to 2017
