According to a research report "Quantum Dot Market with COVID-19 Impact Analysis by Material (Cadmium-based, Cadmium-free), Product (Quantum Dot Displays, Other Products), Vertical (Consumer, Commercial, Healthcare, Defense, Telecommunications), and Geography - Global Forecast to 2026" published by MarketsandMarkets, the global quantum dot market is expected to reach USD 8.6 billion by 2026 from USD 4.0 billion in 2021, at a CAGR of 16.2% during the 2021-2026 period.
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Driver: Growing demand for use of quantum dots in display devices
Modern displays not only offer higher brightness and contrast ratios but are also available in higher resolutions and consume less power than conventional displays. Display manufacturers are developing displays with improved specifications to strengthen their position in the market. Quantum dots are being extensively used in display devices as quantum dot displays offer high color resolution, better color purity, a highly immersive high-dynamic-range (HDR) experience, and higher energy efficiency compared to conventional displays. Quantum dots’ narrow emission spectra and wide excitation profiles enable them to change light into any color in the visible spectrum with greater efficiency. Due to several enhanced properties, quantum dots are being extensively used by display manufacturers.
Restraint: Limited availability of rare earth materials
Rare earth materials such as cadmium, selenium, zinc, and indium are used in the manufacturing of quantum dots. These materials are very expensive owing to their limited availability and high demand. Quantum dots are manufactured from various procedures using materials with similar properties. Materials that are suitable for the development of quantum dots are not easily available; additionally, cadmium is a toxic metal that is not environment friendly. Cadmium, selenium, and indium are increasingly being used for the development of quantum dots. However, these materials should be optimally used owing to their limited availability.
Quantum dot displays to hold largest market share in the quantum dot market during the period 2021 and 2026
Properties such as high luminous efficacy, high brightness and low power consumption make quantum dots highly suited for displays. Quantum dot displays resist moisture more effectively than other displays and hence, they have a longer life than other displays. The use of inorganic materials in quantum dots prevent burn-ins which is seen in other displays. The numerous advantages of using quantum dot displays is a major factor driving the growth of quantum dot displays.
Asia Pacific to account for the largest share of quantum dot market during the forecast period
Asia Pacific holds the largest share in the global quantum dot market. The major factors driving market growth include the presence of many established display manufacturers, the growing number of market players and research organizations involved in R&D activities related to quantum dot technology, the increasing advancements in the display ecosystem and the growing demand for quantum dot displays.
The report profiles key players such as Samsung Electronics (South Korea), Nanosys (US), Nanoco Group (UK), NNCrystal US Corporation (US), QD Laser (Japan), Merck Group (Germany), NanoPhotonica (US), OSRAM Licht (Germany), Crystalplex Corporation (US), LG Electronics (South Korea) and DuPont (US).
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