Next-Generation Display Materials — The Power Efficient Materials Enhancing Consumer Experience
Over the course of years, the display industry, among other industries, has witnessed innumerable advancements in terms of technology. LCD and LED technologies have become common and are being used across the globe for several applications. A recent advancement in the materials industry is the introduction of next-generation display materials such as TFT LCD, OLEDs, and QLEDs.
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OLEDs as a display material are highly flexible, thin, and light-weight. They are known for their high power efficiency and faster response time. On the other hand, TFT-LCD materials, which also have a faster response, offer high picture quality and conserve a significant amount of energy. Owing to these advantages, both OLEDs and TFT-LCD materials are being widely adopted in the industry for varied applications. The markets for OLEDs and TFT-LCDs respectively, are projected to witness tremendous growth in the upcoming years, worldwide.
The recent market intelligence report published by BIS Research titled “Global Next-Generation Display Materials Market — Analysis and Forecast (2019–2029),” provides key insights about the next generation display materials market in terms of the factors influencing its growth and the statistics for the expected overall growth of the market during the forecast period, 2019–2029.
According to the report published by BIS Research, the global next-generation display materials market was valued at $123.22 billion in 2018 and is estimated to reach $421.50 billion by 2029, witnessing growth at 11.83% during the forecast period. Additionally, the report also provides insights about the individual growth of the OLED and TFT-LCD next-generation display materials market.
The introduction of such disruptive technologies and their potential has garnered the attention of several notable companies in the industry. Technological giants such as Samsung and Apple are already striving to dominate the emerging global next-generation display materials market. Some of the key manufacturers functioning in the next-generation display materials market include Universal Display Corporation, Nanoco Group, Quantum Materials Corporation, Sharp Corporation, and Merck Group. Further, the key suppliers in the market include Samsung SDI Co., Idemitsu Kosan Co., Ltd., Toray Industries, Inc., Novaled, Nanosys, Plessey Semiconductors, and Optovate Limited.
Furthermore, companies have already started investing in more advanced technologies such as micro-LEDs and AMOLED displays. The demand for 4k and 8k UHD is increasing at a robust rate and is thus propelling the growth and adoption of these technologies, consequently contributing to the expansion of the next-generation display materials market. Additionally, ongoing research and development activities along with favorable policies introduced by governments are also expected to contribute significantly to the growth of the market.
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