U.S. Semiconductor LED Market Expected to Hit $45.8 Billion by 2035, Growing at 4.2% CAGR

Key Takeaways

The U.S. semiconductor LED market is projected to grow to 5.9 million tons and reach a value of $45.8 billion by 2035.
In 2024, U.S. semiconductor LED consumption and imports increased by 4.2% to 3.8 million tons.
Exports of semiconductor LEDs from the U.S. decreased by 24.2% to 1.6 million tons in 2024.

Market Overview

IndexBox has released a report forecasting steady growth in the U.S. semiconductor light-emitting diodes (LEDs) market over the next decade, driven by increasing demand. The market is expected to expand with a compound annual growth rate (CAGR) of 4.2%, projected to reach 5.9 million tons by 2035, with a market value hitting $45.8 billion.

In 2024, U.S. consumption of semiconductor LEDs grew by 4.2% to 3.8 million tons, marking the third consecutive year of growth. The market value stabilized around $29 billion, reflecting the total revenues of producers and importers, excluding logistics and retail costs. This increase demonstrates the robust demand for semiconductor LEDs.

### Import Dynamics
U.S. imports of semiconductor LEDs also rose by 4.2% to 3.8 million tons in 2024. This growth has been substantial, particularly in 2023, when imports soared by 80%. The market value of imports decreased slightly to $20.5 billion, with a peak recorded at $21.4 billion. Major suppliers included Vietnam, Malaysia, and Thailand, which together accounted for 77% of total imports. Notably, Japan achieved a remarkable CAGR of 4,326.5% from 2020 to 2021 in its LED exports to the U.S.

### Export Performance
In contrast, U.S. exports of semiconductor LEDs saw a sharp decline, dropping by 24.2% to 1.6 million tons in 2024. The value of these exports slightly decreased to $2.1 billion. Canada, Mexico, and France were the primary destinations for U.S. LED exports, making up 46% of total shipments. While some key markets, like Israel, recorded impressive growth rates, the overall export market remained subdued compared to previous years.

### Pricing Trends
The average import price of semiconductor LEDs was stable at $5,519 per ton in 2021, with variations among supplier countries. Japan had some of the highest prices at $16,521 per ton, while India offered lower prices at $3,089 per ton. On the export side, average prices fell significantly to $1,473,901 per ton in 2021, after peaking the previous year.

Overall, the U.S. semiconductor LED market continues to show robust consumption growth, while facing challenges in exports, signaling complex dynamics within this evolving industry.

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