Next-Generation Display Materials Market Size Worth USD 380.03 Billion by 2028 | Industry Revenue Growth is Driven by Growing Adoption of OLED Technology for Various Devices, says Emergen Research
Vancouver, British Columbia, June 08, 2021 (GLOBE NEWSWIRE) — The global next-generation display materials market is expected to reach a market size of USD 380.03 Billion by 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Global market growth is driven significantly by rapid technological advancements in electronics devices, screens, displays, substrates, battery technologies, materials, and a variety of other aspects. Increasing R&D initiatives is also driving steady adoption of OLED and IPS-LCD technology-based display panels. OLED technology accounted for majority revenue share in the global market in 2020 due to unique features such as efficient power consumption, clear display with high resolution, and thin and lightweight structure.
Introduction of large panel displays has led to rising consumption of OLED televisions. OLED technology primarily consists of one layer of substrate, encapsulation technology, polarizer, electrode, emitter, and organic layer components. Plastic and glass are widely accepted as substrate due to their lightness and flexibility, and polyfluorene is the most commonly used material in the organic layer of OLED technology. Emitter and organic layer components help transport electrons from cathode to produce light. Other recently introduced display technologies are mini-LED, micro-LED, and quantum dot. Many display material manufacturing companies are focusing on development of more environment friendly quantum dot technology due to growing concerns regarding the toxic nature of cadmium-based quantum dot technology.
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Further Key Findings in the Report:
- In November 2020, NextGen Nano Ltd. acquired 30% of common voting stock in New Fusion LLC. This transaction will help NextGen to strengthen its presence in the OLED technology sector.
- Televisions and monitors segment is expected to register a robust double-digit CAGR in throughout the forecast period. This steady growth can be attributed to recent technological advancements and introduction of large panel displays,
- Asia Pacific is projected to register a rapid revenue CAGR between 2021 and 2028. Increasing material research and growing number of material suppliers and manufacturers in countries in the region is supporting revenue growth to a significant extent.
- Key players operating in the market are Idemitsu Kosan Co., Ltd., Toray Industries, Inc, Samsung SDI Co., Universal Display Corp., Novaled GmbH, Nanosys Inc., Nanoco Group PLC, Doosan Corporation, Quantum Materials Corp., and PPG Industries, Inc.
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For the purpose of this report, Emergen Research has segmented the global next-generation display materials market based on technology type, material, application, and region as follows:
- Technology Type Outlook (Revenue: USD Billion; 2020–2028)
- Material Outlook (Revenue: USD Billion; 2020–2028)
- Color Filter
- Liquid Crystals
- Backlighting Unit
- Emitter and Organic Layer
- Application Outlook (Revenue: USD Billion; 2020–2028)
- Televisions and Monitors
- Smart watches
- Automotive Displays
- Laptops and Tablets
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- Regional Outlook (Revenue: USD Million; 2020–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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