Next-generation displays are modified versions of LCD and plasma technology that consume lower energy. They support the progress of the existing technology and deliver upgrades while maintaining the evolution of tools due to continuous advancements in the technological sector.
According to the MarkNtel Advisors' research report, "Global Next-Generation Display Materials Market Analysis, 2021," the market is likely to grow at a CAGR of around 7.10% during 2021-26. Next-Generation Display Materials have exceptional thermal durability that offers features like multiple video screens, mainframe monitors, etc., thereby accelerating the market consequently.
|Study Period||Historical Data: 2016-20|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, UK, France, Italy, Spain, The Netherlands,|
|Asia-Pacific: China, India, Japan, Australia|
|South America: Brazil, Argentina|
|Middle East & Africa: Saudi Arabia, South Africa|
|Key Companies Profiled||Toshiba, E-ink, Samsung SDI, RitDisplay, Sony, and Universal Display Corp.|
|Unit Denominations||USD Million/Billion|
Impact of COVID-19
The outbreak of the COVID-19 pandemic negatively impacted the global next-generation display market. The lockdown imposition and restrictions by the government caused a halt in manufacturing units, disruptions in the supply chain, and suspension of production, demand, and transportation of goods across most regions. It led to severe loss to the high-tech market players. However, the post lockdown phase witnessed the gradual upliftment of the restrictions by the government, thereby resuming the production services. Hence, the market is likely to regain its place in the forecast period, i.e., 2021-26.
Thin Film Transistor Liquid Crystal Displays (TFT-LCDs) Accounts for the Largest Market Share
Based on the material type, the market segments into Thin Film Transistor Liquid Crystal Displays (TFT-LCDs) and Organic Light-Emitting Diodes (OLEDs). Out of the two, the TFT-LCD is likely to have the fastest growth rate in the forecast years due to its enhanced display quality and popularity among consumers. Various high-tech brands use these displays in their technology. Hence, the TFT-LCD segment is another crucial factor likely to contribute to the overall market growth in the coming years.
Nanomaterials To Witness Exponential Market Growth
Based on product, the market segments into Plastic substrates, Nanomaterials, Metals, and Polymers. Out of these, Nanomaterials are likely to witness exponential market growth due to the high demand for this segment among consumers, quantum dots, and carbon nanotubes. They are manufactured as Transparent Conductive Films (TCF) and are potentially a very cost-efficient alternative in touch screen & flexible displays. Hence, Nanomaterials are likely to fuel the overall market growth in the forecast years, reveals MarkNtel Advisors in their research report, "Global Next-Generation Display Materials Market Analysis, 2021."
Europe Accounts for the Largest Market Share
Europe accounts for the largest market share in recent years and is likely to continue holding its top position in the forecast period, too. It owes to regions like Germany and the United Kingdom for their massive investments in the market in recent years. Furthermore, the increasing demands of OLED displays for mobiles, monitors, and tablets further drive the market growth in the region, thereby boosting the overall market growth.
The key elements driving the Global Next-Generation Display Materials Market include the rapidly increasing development & up-gradation of various display panels across several regions and the expanding adoption of OLED technology across multiple applications. Furthermore, the flooding demand of quantum dots in display devices is also a critical factor to drive market growth. Supporting this, several high-tech industry leaders are also investing in Next-Generation Display materials, thereby surging the overall market optimization.
According to MarkNtel Advisors, the major leading players in the Global Next-Generation Display Materials Market are Toray Industries, Idemitsu Kosan Co., Ltd., Inc., Samsung SDI Co., Novaled, Nanosys, Universal Display Corporation, Nanoco Group PLC, Quantum Materials Corporation, Doosan Corporation, PPG Industries, Inc., and DuPont Inc.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The historical data has been provided since 2016, while the base year is 2020, and the data forecast is up to 2026.
A. The measuring units of market size/industry size or the market value are USD Million and thousand units.
A. The Global Next-Generation Display Materials Market is forecast to grow at a CAGR of 7.10% during 2021-26.
A. Toray Industries, Idemitsu Kosan Co., Ltd., Inc., Samsung SDI Co., Novaled, Nanosys, Universal Display Corporation, Nanoco Group PLC, Quantum Materials Corporation, Doosan Corporation, PPG Industries, Inc., and DuPont Inc. are few of the leading players in the Global Next-Generation Display Materials Market.
A. Thin Film Transistor Liquid Crystal Displays (TFT-LCDs) are likely to attain the highest CAGR during the forecast period and maintain their dominance in the market in the years to come.
A. Europe continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Next-Generation Display Materials Market.