In 2022, the Display Material Market reached a value of USD 33.58 Billion, and it is anticipated to exhibit a notable compound annual growth rate (CAGR) of 3% throughout the forecast period.
The market's growth is primarily fueled by the escalating utilization of advanced materials across diverse industries, such as electronics, automotive, aerospace, and construction. The increasing demand for robust and lightweight materials in these sectors, as well as the rising popularity of high-end consumer electronic products, particularly those used in television applications, significantly contribute to the expansion of market revenue. Additionally, the integration of display materials into the automotive ecosystem also plays a significant role in driving the market's growth.
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Display materials are surfaces utilized in various devices such as mobile devices, media players, digital cameras, and televisions. The rising demand for environmentally friendly and energy-efficient products has led to the creation of new materials with enhanced properties. For instance, the automotive industry is increasingly using these materials as they offer strong and lightweight alternatives to traditional materials like steel, aluminum, composites, and plastics.
The Display Material Market refers to the market for materials used in the manufacturing of displays, including screens for various electronic devices such as smartphones, tablets, televisions, and computers. The market includes a variety of materials such as glass, polymers, metals, and semiconductors.
Driving factors of Display Material Market:
Increasing use of advanced materials in various sectors such as electronics, automotive, aerospace, and construction.
Rising demand for strong, lightweight materials in these sectors and high-end consumer electronic products, particularly for television applications.
Creation of new materials with enhanced properties due to the rising demand for environmentally friendly and energy-efficient products.
Increased adoption of display materials in the automotive industry due to their strong and lightweight properties as alternatives to traditional materials.
Use of intelligent materials that can alter their properties in response to external stimuli, driving their adoption in various industries such as aerospace, biomedical engineering, and energy.
Some of the notable innovations in the Display Material Market:
Flexible Displays: Flexible displays are an innovation in the display material market that allows the screens to bend and fold. They are used in various applications such as smartphones, wearables, and tablets.
Quantum Dots: Quantum dots are semiconductor nanocrystals that emit light when excited by a source of energy. They are used in displays to enhance color gamut, brightness, and contrast.
OLED Displays: OLED (Organic Light Emitting Diode) displays use organic compounds to emit light when a current is passed through them. They offer several advantages over traditional displays, including better energy efficiency, higher contrast ratios, and thinner form factors.
Micro-LED Displays: Micro-LED displays are a type of display that uses tiny LED chips to create an image. They offer high brightness, contrast, and color accuracy and are being developed for use in large displays such as TVs.
Nanowire Displays: Nanowire displays are a new type of display technology that uses nanowires to create images. They offer several advantages over traditional displays, including high resolution, low power consumption, and flexibility.
Major players in the global Display Material Market include:
- Corning Inc.
- Asahi Glass Co., Ltd. (AGC)
- Samsung Corning Precision Materials Co., Ltd. (SCP)
- Nitto Denko Corporation
- Sumitomo Chemical Co., Ltd.
- Merck KGaA
- LG Chem Ltd.
- Universal Display Corporation (UDC)
- Idemitsu Kosan Co., Ltd.
- JSR Corporation
- Toray Industries, Inc.
- 3M Company
- DuPont de Nemours, Inc.
- Shin-Etsu Chemical Co., Ltd.
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