Next-Generation Display Materials Market is on an Upward Growth Curve

"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 witnessing significant growth, driven by rapid technological advancements within the electronics industry and the growing demand for slimmer, lighter, and more efficient display systems. Increasing consumer expectations for high-quality displays in devices such as smartphones, televisions, and computer monitors are further accelerating the adoption of advanced display materials. Additionally, rising disposable incomes are stimulating growth in the automotive sector, which in turn is contributing to the broader expansion of the next-generation display materials market.

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

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 global market for next-generation display materials is being significantly driven by continuous innovations in display technology. The growing adoption of advanced display systems such as organic light-emitting diodes (OLED), microLED, and miniLED has led to increased demand for materials that offer superior performance, flexibility, and energy efficiency.

Challenges: Excessive Cost and Insufficient Knowledge
Despite promising growth, the market faces notable challenges. The high production costs associated with advanced manufacturing techniques and premium raw materials used in technologies like OLED remain a significant barrier.

North America Is Expected To Grow With The Highest CAGR During The Forecast Period
North America is anticipated to register the highest compound annual growth rate (CAGR) during the forecast period. This regional dominance is attributed to strong research and development activity, increased manufacturing of display materials, and substantial investments from both public and private sectors. Additionally, the growing consumer demand for high-resolution LCD and OLED displays-driven by evolving lifestyle preferences and greater disposable income-is expected to propel the market forward in North America.

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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.