Next-Generation Display Materials Market Latest Updated Report 2024-2031

Next-Generation Display Materials Market to reach over USD 259.31 billion by the year 2031 - Exclusive Report by InsightAce Analytic

"Next-Generation Display Materials Market" in terms of revenue was estimated to be worth $150.35 billion in 2023 and is poised to reach $259.31 billion by 2031, growing at a CAGR of 7.22% from 2024 to 2031 according to a new report by InsightAce Analytic.

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Latest Drivers Restraint and Opportunities Market Snapshot:

Key factors influencing the global next-generation display materials market are:
• Continuously advancing display technology
• Shifting lifestyles and fast urbanization
• Boosted development in the electronics industry

The following are the primary obstacles to the next-generation display materials market's expansion:
• Making materials for next-gen displays can be a difficult and sophisticated process
• Difficult to manufacture due to their complexity and high cost
• Consumers' lack of knowledge of emerging technology

Future expansion opportunities for the global next-generation display materials market include:
• A growing industry of display material producers and distributors
• The popularity of consumer electronics
• A growing trend toward lighter and thinner display systems

Market Analysis:

The next-generation display materials market is currently experiencing expansion due to several factors, including the rapid advancement of electronics industry technology and the increasing need for slimmer and lighter display systems and gadgets. Furthermore, smartphones, televisions, and computer monitors are all affected by rising consumer demands for better next-generation display materials quality, which fuels the demand for next-generation display materials, and rising consumer disposable income is fueling the automotive industry to boost the next-generation display materials market expansion.

List of Prominent Players in the Next-Generation Display Materials Market:
• Idemitsu Kosan Co., Ltd
• Toray Industries, Inc
• Samsung SDI Co
• Universal Display Corporation
• Novaled GmbH
• Nanosys Inc
• Nanoco Group PLC
• Doosan Corporation
• Quantum Materials Corporation
• PPG Industries, Inc
• DuPont Inc
• Optovate
• Plessey
• eLux Inc
• Jade Bird Display Inc

Next-Generation Display Materials Market Report Scope:

Report Attribute Specifications
Market size value in 2023 USD 150.35 Bn
Revenue forecast in 2031 USD 259.31 Bn
Growth rate CAGR CAGR of 7.22% from 2024 to 2031
Quantitative units Representation of revenue in US$ Million, and CAGR from 2024 to 2031
Historic Year 2019 to 2023
Forecast Year 2024-2031
Report coverage The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends
Segments covered By Product, Application
Regional scope North America; Europe; Asia Pacific; Latin America; Middle East & Africa

Recent Developments:
• In November 2023, Toray Industries, Inc. unveiled LUMIRICATM, a color conversion sheet that utilizes organic fluorescent materials that do not include cadmium and emit light with exceptional color purity. This sheet provides improved dependability for high-luminance liquid crystal displays. It will highlight the new product's potential uses on televisions and monitors.
• In September 2023, Samsung SDI Co., Ltd., Samsung Electronics Co., Ltd., and Samsung Display Co., Ltd. Announced their intention to work together at the highly anticipated IAA MOBILITY, which will change the game for connected mobility and attract businesses and consumers worldwide.
• In December 2023, Universal Display Corporation, a leader in energy-efficient lighting and displays, announced that it had entered long-term agreements with BOE Technology Group Co., Ltd. To supply and license OLED materials.

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Next-Generation Display Materials Market Dynamics:
Market Drivers: Rising Innovations in Display Technologies
The increasing development in display technology is a major significant driver of the global market. The demand for next-generation display materials is driven by the rapid improvements in display technologies, including organic light emitting diodes (OLED), microLED, and miniLED. These technological advancements provide enhanced efficiency, adaptability, and performance. The worldwide market for next-generation display materials is seeing rapid revenue growth because of the increasing demand for various display devices such as laptops, plasma screens, mobile devices, and tablets. The market is anticipated to experience a rapid increase due to the rise of next-generation displays in several industries, including transportation, medicine, and aerospace, which is boosting market expansion.

Challenges: Excessive Cost and Insufficient Knowledge
Several limiting constraints are anticipated to impede global market advancement throughout the forecast period. A major challenge for the industry developing next-gen display materials is the use of more advanced manufacturing processes and more costly raw materials in creating next-generation display technologies like organic light-emitting diodes, which drive up the price of the finished goods. Furthermore, the issue is that consumers, especially in some areas, don't know much about emerging technology. Quantum dots are essential to organic light-emitting diode technology. However, widespread use of these cutting-edge technologies can be challenging due to a lack of knowledge and experience in the field materials, hampered market growth.

North America Is Expected To Grow With The Highest CAGR During The Forecast Period
The North American next-generation display materials Market is likely to register a significant revenue share and develop at a rapid CAGR in the near future. This is due to the expansion of research efforts, increased display materials supplied and produced in the region, and financing from public and private sources to expand the market in the coming years. Furthermore, the next-generation display materials market forecast indicates that several factors, including technological advancements, will drive this region's growth and the increasing popularity of LCD screens, which can be attributed to the shifting habits and higher financial resources of consumers in the region are the forces driving this regional area forward.
Segmentation of Next-Generation Display Materials Market-
By Product-
• Organic Light Emitting Diode (OLED)
o Electron Transport Layer
o Hole Transport Layer
o Emissive Layer
o Substrate
o Electrodes
o Conductive Layer
o Encapsulation
• Thin-Film Transistors LCD (TFT-LCD)
o Backlight Unit
o Color Filters
o Glass Panels
o Polarizers
o Integrated Circuits (ICs)
• Others (Micro-LED, Mini-LED, And QLED).
By Application-
• Smartphones
• Television And Monitors
• Smartwatches
• Automotive Displays
• Laptops And Tablets
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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This release was published on openPR.