The need for displays in a variety of devices, including smartphones, tablets, televisions, and laptops, is fuelling the market for display materials, which is expanding quickly. Display materials are the components used to create display panels, including organic light-emitting diodes (OLEDs), liquid crystal displays (LCDs), and others. These components are essential in establishing the effectiveness and caliber of the display.
The Global Display Materials Market size was estimated to be 33.77 billion USD in 2022. Display Materials market is projected to reach 44.45 billion USD by 2030 with a CAGR of 3.1% in the forecast period of 2023-2030. Several important factors, such as the following, drive the market for display materials:
Escalating Demand for high-quality screens: The demand for display materials is rising as people seek higher-quality displays in their electronic devices. These components are crucial in deciding how well and how long screens will last.
OLED display adoption: Compared to conventional liquid crystal displays (LCDs), organic light-emitting diode (OLED) screens provide superior color accuracy, broader viewing angles, and higher contrast ratios. The need for OLED display materials is being driven by the increasing use of OLED displays in smartphones, televisions, and other electronic devices.
Demand for flexible displays: Flexible displays are in greater demand as they can be twisted or curved to match a variety of form factors. Examples of these applications include wearable technology, foldable smartphones, and automobile displays. The need for materials that can be used to manufacture flexible screens is being driven by this.
The Global Display Materials Market includes players such as Samsung SDI, LG Chem, Sumitomo Chemical, Corning, Nitto Denko, Universal Display Corporation, Merck, Asahi Glass, Idemitsu Kosan, DowDuPont, Toray, DIC Corporation, Hodogaya Chemical, JSR Corporation.
In April 2021, Samsung was delighted to join forces with Corning, QD Display, OLED, and flexible displays as a partner in significant material innovation projects.
A long-term agreement for a new OLED technology license and material purchase agreements was signed on April 4, 2021, by Universal Display Corporation, a world leader in designing and manufacturing cutting-edge display panels, and LG Display Co., Ltd., whose Universal PHOLED technology and materials enable energy-efficient lighting and displays.
The Global Display Materials Market is segmented based on Technology, Components, and Applications.
Based on technology, the market is split into OLED and LCD sectors. The LCD category controls a sizeable piece of the market since OLED panels are increasingly being used in smartphones and smart wearables. More layers, materials, or components are needed to create an LCD panel. The market for display materials is expanding faster as a result of LCDs using additional components that OLED displays do not require, such as a color filter layer, liquid crystal, and a backlight unit. Unlike OLED, which only uses one layer of each plate, LCDs utilize two layers of substrates and polarizers.
According to the component, the market is segmented into polarizers, substrates, color filter layers, liquid crystals, backlighting units, and other items. The Polarizer category continues to hold a substantial market share as a result of rising efforts made by industry leaders in improving these materials for increased energy efficiency and prolonged lifespan. These factors are fueling the expansion of the market for display materials.
The market is segmented by application into television, mobile devices such as smartphones and tablets, large-format displays for signage, and smart wearables. The television sector controls a sizeable percentage of the market as a result of the increased consumption of display materials used in LCD panels for TVs.
The substantial market share is held by the Asia Pacific region, the media and entertainment industries' rapid growth and expansion, as well as the region's abundant supply of raw materials, all of which are contributing factors to the global display material market's rapid expansion.
The display materials market is a dynamic and rapidly evolving industry that plays a critical role in the production of high-quality displays for a wide range of applications. The market is being driven by factors such as the growing demand for high-resolution displays, the increasing adoption of OLED technology, and the rise of the smart home and IoT. With advancements in materials science and manufacturing technologies, the display materials market is poised for significant growth in the coming years, with new innovations likely to drive continued demand. As display technology continues to evolve and expand into new applications, the display materials market is set to remain a critical component of the electronics industry, providing the essential materials needed to create the high-quality displays that consumers demand.