The Global Next-Generation Display Material Market is expecting around 7.10% CAGR during 2021-26, says MarkNtel Advisors in their research report. The rapidly increasing production of electronic consumer goods to meet the burgeoning demand of the exponentially mounting population drives the market. Additionally, the changing living standards & improving purchasing power of people are also fueling the demand for next-generation display materials.
Besides, constant technological advancements in the existing plasma technology & Liquid Crystal Display (LCD) have introduced Light Emitting Diodes (LEDs) for enhanced energy efficiency, longer lifespan, high resolution, wide viewing angle, etc., i.e., another reason behind the burgeoning demand for next-generation display materials.
Moreover, growing health concerns, especially with the Covid-19 pandemic, are stimulating the demand for wearable devices to monitor heart rate, blood pressure levels, footsteps, & calories burned, among others. It, in turn, is infusing the demand for next-generation display materials in the manufacturing of displays for these devices, further states the research report, "Global Next-Generation Display Materials Market Analysis, 2021."
Televisions & Monitors to Continue their Prevalence in the Market through 2026
The swiftly increasing production & sales of televisions & monitors to address their soaring demand among consumers and the mounting penetration of smart electronics like laptops & tablets are propelling the demand for next-generation display materials for higher resolution in screens.
Besides, the growing adoption of low-cost & large display panels in modern televisions & monitors is among other prominent factors augmenting the overall market growth. Moreover, the introduction of the Organic Light-Emitting Diodes (OLEDs) in the display technology that can deliver higher energy efficiency & minimize environmental impacts is another crucial aspect expected to instigate the demand for televisions & monitors equipped with next-generation display materials in the years to come.
With Increasing Penetration of Consumer Electronics in China & India, Asia-Pacific to Acquire the Largest Market Share during 2021-26
The extensive presence of several companies manufacturing next-generation display materials across Asia-Pacific is the prime aspect driving the regional market. Additionally, the abundant availability of low-cost laborers due to the high population across countries like China, India, etc., coupled with the massive consumer base for electronics, are projected to make Asia-Pacific a manufacturing hub for displays.
Besides, improving disposable incomes & changing lifestyles are surging the demand for consumer goods like televisions, smartphones, laptops, tablets, etc., and, as a result, would fuel the market growth across the region in the coming years, reveals MarkNtel Advisors in their research report, “Global Next-Generation Display Materials Market Analysis, 2021.”
According to MarkNtel Advisors, the leading players in the Global Next-Generation Display Materials Market include Idemitsu Kosan Co. Ltd, DuPont, Doosan Corporation, Merck KGaA, Nanosys Inc., Nanoco Group PLC, Novaled GmbH, Universal Display Corporation, Samsung SDI, Toray Industries Inc., eLUX Inc., Plessey, Quantum Material Corporation, Optovate, & Jade Bird Display Inc.
Key Questions Answered in the Study