The displays which were used in computers and TVs offered users to interact with the images. These requirements led to the use of TFT LCD displays, which were implemented in commercial PCs and laptops. The TFT-LCD market grew in television and smartphones segment and acquired the most significant market share in the global market. The recent breakthrough in the display technology is the introduction of the OLED technology, and this technological disruption is expected to prevail in the display market as the demand for various sizes, technology, and forms of display for vivid applications keeps on evolving, which in turn, is expected to drive the display material market in the coming years.
TFT LCD, OLED, and QLED materials are the backbone of next-generation display materials. Companies have invested in establishing their OLED and QLED production plants globally. OLED materials have evolved due to their advanced features, such as lightweight, ability to be shaped freely because of the thinness, 1,000 times faster response time than LCD, wide viewing angle in comparison to LCD, power efficiency, and its eco-friendly nature. This advancement led to bigger screens, higher resolutions, and power efficient displays at a lower cost.
Along with the technological advancements, exchange and usage permission of their patented OLED and QLED materials have also led to the significant increase in the demand of display technology. For instance, Universal Display Corporation has licensed their PHOLED series of material and now have collaborated with companies such as Samsung Display, Sharp Corporation, Royole Corporation, BOE Technology Group, and PPG Industries, for mutual exchange of product license and its usage authorities.
OLED and QLED displays are further advancing with their flexible display property, and companies such as Samsung Display and Huawei Technological Co, Ltd. are promoting their rigid smartphone display panels to flexible and rollable display panels. Companies developing quantum dots are shifting their interest and area of work to environment-friendly quantum dots after European government banned the usage of cadmium quantum dots in the market. Now companies are developing quantum dots that are cadmium-free and heavy metal free.
According to the latest report, titled 'Global Next-Generation Display Materials Market – Analysis and Forecast (2019-2029)’, the global next-generation display materials market is estimated to grow at a CAGR of 11.83% between 2019 and 2029.
Companies Mentioned in the Report: