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The chip-on-board (COB) LED market size is forecast to increase by USD 3.19 billion at a CAGR of 17.1% between 2023 and 2028. The market is experiencing significant growth, driven by technological innovations in COB LEDs. These advancements include improved thermal stability, which enhances the LED's lifespan and efficiency. Another trend is the adoption of COB LEDs in horticulture applications, where they provide optimal light distribution and energy savings. Additionally, the development of Chip Scale Packaging (CSP) LEDs is expanding the market's scope, offering smaller form factors and increased compatibility with various vegetable oils, such as palm oleic acid, linseed oil, and castor oil. Natural alkyd resins, with their high molecular weight and hydroxyl groups, are crucial for ensuring the unreacted acids and other impurities do not affect the LED's performance. Ensuring compatibility between these materials and the COB LEDs is essential for market success.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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