The global next-generation display materials market size is expected to reach USD 380.03 billion in 2028 and register a CAGR of 11.7% throughout the forecast period. Growing consumer preference for better displays in devices and rising demand from electronics sector is boosting market revenue growth. Increasing demand for televisions, smartphones, cameras laptops, and other devices is also driving market growth.
Advancements in technology, increasing demand for more advanced gadgets, devices, and equipment, and rising consumer disposable income are some key factors driving growth of the next-generation display materials market. Next-generation displays overcome some of the major drawbacks of LCD technology. Continual technological advancements and easy availability of smartphones and other devices at affordable prices have resulted in further development of technologies, from Liquid Crystal Display (LCD) to Organic Light-Emitting Diode (OLED), and In-Plane Switching (IPS). These technologies offer high power efficacy, clearer screen display, and bright color features at low prices.
Rapid advancements in electronics coupled with a rising preference for sleek, lightweight, and slim displays are projected to drive growth of the next-generation display materials market. In addition, emerging technologies such as mini-LED, quantum dot, and micro-LED are increasing revenue growth of the next-generation display materials market. Major players in the market are focusing on various strategies to develop more environment-friendly quantum dots owing to usage of toxic cadmium in quantum dot technology.
Some key highlights in the report:
- The OLED segment accounted for largest revenue share in 2020 and is projected to register a substantial revenue CAGR during the forecast period.
- On the basis of material, the emitter & organic layer segment accounted for largest revenue share in 2020, which is expected to increase significantly between 2021 and 2028. Emitter & organic layers are made of organic plastic particles that transport electrons from cathode in order to produce light, and this technology is rapidly gaining traction, and is expected to continue to support market revenue growth going ahead.
- The televisions & monitors segment accounted for largest revenue share in the global next-generation display materials market in 2020 and is expected to register a considerably rapid CAGR throughout the forecast period due to rising demand for large panel displays.
- North America accounted for second-largest revenue share among the other regional markets in 2020 and revenue is projected to expand at a significantly robust CAGR throughout the forecast period. The United States and Canada are substantial revenue contributors in growth of the market in the region. Highly advanced technology and increasing demand for OLED displays are key factors influencing growth of the next-generation display materials market in North America.
- Europe accounted for a considerable revenue share in 2020 due to rising focus on display materials and funding from governments to support research and development.
- 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.
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; 2018–2028)
Material Outlook (Revenue: USD Billion; 2018–2028)
- Color Filter
- Liquid Crystals
- Backlighting Unit
- Emitter and Organic Layer
Application Outlook (Revenue: USD Billion; 2018–2028)
- Televisions and Monitors
- Smart watches
- Automotive Displays
- Laptops and Tablets
Regional Outlook (Revenue: USD Million; 2018–2028)
- Rest of Europe
- South Korea
- Rest of APAC
- Rest of LATAM
Middle East & Africa
- Saudi Arabia
- Rest of MEA
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