Display Material Trends and Forecast
The future of the global display material market looks promising with opportunities in the television, smartphone & tablet, signage/large format display, and smart wearable markets. The global display material market is expected to reach an estimated $42.3 billion by 2030 with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are growing demand for high-end consumer electronics, expanding use of this material in the automotive ecosystem, and rising adoption of OLED display technology.
• Lucintel forecasts that within the technology category, LCD is expected to witness the highest growth over the forecast period.
• Within the application category, television is expected to witness the highest growth over the forecast period.
• In terms of region, APAC is expected to witness highest growth over the forecast period.
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Emerging Trends in the Display Material Market
Technological advancements and changing consumer demands are driving the dynamic development of display materials. As a result, innovations are introducing new applications and improving the displays’ performance in different devices. In particular, the market for these products is witnessing trends that point to increased efficiency, better visual experiences and environmental friendliness. These developments influence both new material development and the modification of existing technologies with implications on production and use of displays in everyday commodities.
• Advancements in OLED Technology: Brightness improvements, color precision, and energy efficiency have been some of the ways by which OLED technology has moved forward. Modern OLED panels are more robust and flexible hence, they can be used on bendable screens or transparent displays. This has resulted in high-end smartphones as well as wearable devices having more vibrant display experiences while at the same time being more immersive too. The blacker blacks of OLED along with its wider viewing angles have made it a popular choice hence resulting in demand surge and investments for further research.
• Growth of MicroLED Displays: Micro LED displays have started to emerge as a key trend due to their brighter displays, lower energy expenditure characteristics as well as longer lifespans when compared to traditional LCDs or even OLEDs. Each pixel is created using microscopic LEDs found within microLED technology thus high resolution plus accurate colors are possible. This process is expected to transform how larger less power consuming durable screens are produced hence affecting various sectors from consumer electronics to large scale digital signage.
• Development of Quantum Dot Displays: Nanometer size particles composed from semiconductors known as quantum dots enhance color accuracy and brightness in quantum dot displays. The efficiency aspect has improved following recent developments rendering them with better color reproduction as well contrast ratios higher than before. High-end monitors together with television sets increasingly rely on this trend given that consumers seek superior visual quality among such gadgets. Display panels incorporating quantum dots will soon set new standards for color performance contributing towards much more immersive viewing experiences.
• Emphasis on Flexible and Foldable Displays: The importance of flexible and foldable displays is increasing as manufacturers look for innovative form factors in smartphones, tablets and other devices. With better materials that are more of flexible display based technologies like polymers or OLEDs, it has become possible to have bending or folding screens which do not affect their functioning. This trend promotes development of new gadgets as well as user interfaces with enhanced portability and flexibility among other features related to consumer electronics.
• Focus on Sustainable and Eco-Friendly Materials: In the display material market, the growing concern about sustainability is leading to more eco-friendly and recyclable materials being used. Companies have been working towards greener methods where there is minimal environmental effect due to production of displays through the reduction in hazardous substances and improved recycling processes. The market is influenced by regulatory pressures as well as a demand from customers for greener products hence changing how display materials are sourced and processed in line with global sustainability goals.
As these emerging trends push the limits of what can be done with display technology, they are transforming the material market for such products. Consequently, advancements in OLEDs, microLEDs, quantum dots among others are greatly improving the performance of displays and their visual quality too. On one side, focus on flexible screens has resulted into some novel designs while an interest in using sustainable or “green” input addresses concerns regarding ecology. Therefore today’s world presents more advanced dynamic patterns that exhibit strong commitment towards envirofriendly life styles thereby redefining various electronic device applications including those related to displays themselves.
Recent Developments in the Display Material Market
Ongoing innovations and advancements in the Display material market have been highlighted by recent developments:
• Advancements in OLED Technology: OLED technology continues to evolve with improvements in brightness, lifespan, and color accuracy. New manufacturing techniques are reducing costs, making OLEDs more accessible for a range of consumer and professional applications.
• Growth of MicroLED Displays: MicroLED technology is advancing with better production methods and lower costs. This technology offers high brightness, contrast ratios, and energy efficiency, making it a competitive alternative to OLED and LCD displays for high-end applications.
• Enhanced Quantum Dot Displays: Recent developments in quantum dot technology focus on improving color accuracy and brightness. New quantum dot materials and manufacturing processes are enhancing display performance and reducing production costs, making them more attractive for premium displays.
• Increased Focus on Flexible Displays: The market for flexible displays is expanding with innovations in materials and manufacturing processes. Flexible OLEDs and other technologies are enabling new device designs and applications, from foldable smartphones to curved televisions.
• Sustainability Initiatives: There is a growing emphasis on sustainability within the display material industry. Innovations aimed at reducing waste, using eco-friendly materials, and improving energy efficiency are becoming central to industry practices and product development.
Recent developments reflect a trend towards advanced technologies and sustainable practices in the display material market. Innovations in OLED, MicroLED, and quantum dot technologies, along with a focus on flexibility and environmental responsibility, are driving the market forward.
Strategic Growth Opportunities for Display Material Market
Key strategic opportunities in this market include:
• Expansion into Emerging Markets: Growing consumer electronics demand in emerging markets like India and Southeast Asia presents opportunities for expansion. Companies can capitalize on increasing disposable incomes and rising tech adoption by introducing affordable display technologies tailored to these regions.
• Investment in Flexible and Foldable Displays: The demand for innovative device form factors drives investment in flexible and foldable displays. These technologies offer new possibilities for smartphones, tablets, and wearables, attracting both consumers and manufacturers looking to differentiate their products.
• Development of High-Performance Displays: The increasing need for high-resolution and high-performance displays in sectors like gaming, professional graphics, and virtual reality presents a growth opportunity. Investing in advanced display technologies such as MicroLED and OLED can capture premium market segments.
• Focus on Sustainability and Eco-Friendly Materials: With growing environmental concerns, there is a strategic opportunity in developing sustainable and recyclable display materials. Companies that prioritize eco-friendly practices and materials can gain a competitive edge and appeal to environmentally-conscious consumers.
Strategic growth opportunities in the display material market involve leveraging emerging markets, investing in innovative display technologies, focusing on high performance, and emphasizing sustainability. These strategies can drive market expansion and capture new consumer segments.
Display Material Market Driver and Challenges
The factors responsible for driving the display material market include:
• Technological Advancements: Continuous improvements in display technologies, such as OLED and MicroLED, drive market growth. Enhanced performance, energy efficiency, and new applications contribute to increasing demand and innovation.
• Rising Consumer Electronics Demand: The proliferation of smartphones, televisions, and other electronic devices boosts the demand for advanced display materials. Growing consumer preferences for high-quality displays drive market expansion.
• Increased Investment in Research and Development: Significant investments by key players in R&D lead to breakthroughs in display technologies. These innovations support market growth and drive competition among manufacturers.
• Expansion of Emerging Markets: Growing disposable incomes and tech adoption in emerging markets provide new opportunities for display material manufacturers. This expanding consumer base fuels demand for affordable and advanced display solutions.
Challenges in the display material market are:
• High Production Costs: The cost of manufacturing advanced display materials, such as OLED and MicroLED, remains high. This can limit market growth and make it challenging for companies to offer competitively priced products.
• Raw Material Scarcity: The availability of critical raw materials, like rare earth elements used in quantum dots, can impact production and pricing. Supply chain disruptions or shortages may affect market stability.
• Environmental and Regulatory Concerns: Increasing regulations on environmental impact and waste management pose challenges for manufacturers. Compliance with stringent regulations requires investment and adaptation in production processes.
• Intense Market Competition: The display material market is highly competitive, with numerous players striving for market share. This competition can lead to price wars and pressure on profit margins.
The display material market is influenced by technological advancements, rising demand, and increased investment, but faces challenges such as high production costs, raw material scarcity, and regulatory issues. Addressing these drivers and challenges will shape the marketÄX%$%Xs future dynamics.
List of Display Material Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies display material companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the display material companies profiled in this report include-
• Samsung SDI
• LG Chem
• Sumitomo Chemical
• Corning
• Nitto Denko
Display Material by Segment
The study includes a forecast for the global display material by technology, component, application, and region.
Display Material Market by Technology [Analysis by Value from 2018 to 2030]:
• LCD
• OLED
Display Material Market by Component [Analysis by Value from 2018 to 2030]:
• Polarizer
• Substrate
• Color Filter Layer
• Liquid Crystals
• Backlighting Unit
• Others
Display Material Market by Application [Analysis by Value from 2018 to 2030]:
• Television
• Smartphone & Tablet
• Signage/Large Format Display
• Smart Wearables
Display Material Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Country Wise Outlook for the Display Material Market
Advancements in technology, changing consumer preferences and increasing demand for high-performance displays have brought significant changes to the display material market landscape. The industry’s prospects are being shaped by important events when nations invest into innovations and infrastructure development. United States, China, Germany, India and Japan are the most influential players constantly improving display technologies, boosting production processes and looking for new applications. These trends relate with digitalization, energy conservationism, and customer electronics in a broad sense, thereby influencing many sectors including consumer devices as well as industrial applications.
• United States: The U.S. display material market has seen significant advancements with increased investment in OLED technology and microLED displays. Companies are focusing on improving manufacturing processes to enhance display resolution and efficiency. The push towards high-definition and flexible displays is also prominent, driven by tech giants and startups alike.
• China: China is rapidly advancing in display materials with substantial investments in OLED and mini-LED technologies. The government’s focus on reducing reliance on foreign technology has led to increased domestic production capabilities. Major players like BOE Technology Group are leading innovations in high-resolution and large-screen displays.
• Germany: In Germany, recent developments focus on sustainable and energy-efficient display technologies. The market is seeing advancements in organic photonic devices and integrated display systems. German companies are also investing in research to improve the longevity and environmental impact of display materials.
• India: India is emerging as a key player in the display material market with a growing focus on affordable LCD and LED technologies. The expansion of local manufacturing capabilities is driven by increasing demand for consumer electronics and government initiatives to boost the electronics sector.
• Japan: Japan continues to lead in high-end display technologies, particularly in OLED and quantum dot displays. Recent developments include advancements in flexible OLED screens and high-resolution panels. Japanese companies are also working on reducing production costs while maintaining high quality.
Features of the Global Display Material Market
Market Size Estimates: Display material market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Display material market size by technology, component, application, and region in terms of value ($B).
Regional Analysis: Display material market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different technologies, components, applications, and regions for the display material market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the display material market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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FAQ
Q1. What is the display material market size?
Answer: The global display material market is expected to reach an estimated $42.3 billion by 2030.
Q2. What is the growth forecast for display material market?
Answer: The global display material market is expected to grow with a CAGR of 3.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the display material market?
Answer: The major drivers for this market are growing demand for high-end consumer electronics, expanding use of this material in the automotive ecosystem, and rising adoption of OLED display technology.
Q4. What are the major segments for display material market?
Answer: The future of the display material market looks promising with opportunities in the television, smartphone & tablet, signage/large format display, and smart wearable markets.
Q5. Who are the key display material market companies?
Answer: Some of the key display material companies are as follows:
• Samsung SDI
• LG Chem
• Sumitomo Chemical
• Corning
• Nitto Denko
Q6. Which display material market segment will be the largest in future?
Answer: Lucintel forecasts that LCD is expected to witness the highest growth over the forecast period.
Q7. In display material market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the display material market by technology (LCD and OLED), component (polarizer, substrate, color filter layer, liquid crystals, backlighting unit, and others), application (television, smartphone & tablet, signage/large format display, and smart wearables), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Display Material Market, Display Material Market Size, Display Material Market Growth, Display Material Market Analysis, Display Material Market Report, Display Material Market Share, Display Material Market Trends, Display Material Market Forecast, Display Material Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.