Quantum Dots Market expected to be worth $12.9 billion in 2025

The Quantum Dots market is estimated to grow from USD 2.0 billion in 2017 to USD 8.5 billion by 2023, growing at a CAGR of 27.0% during the forecast period. The factors that will drive the QD market are the increasing demand for quantum dots in high quality display devices, rising adoption of energy efficient and less toxic quantum dots in solar cell and photovoltaics, and the growing application of quantum dots in numerous application due to miniature size.

Quantum dot market for medical devices, solar cells, and laser devices among others to grow at higher rate during the forecast period

Quantum dots market for other products such as QD medical devices, QD solar cells, QD laser devices, QD photodetectors/QD sensors, QD lighting devices, batteries and energy storage systems, QD transistors, and QD tags is expected to grow a higher rate during the forecast period. Quantum dots (QD) are finding increasing application other than display. QD medical devices are used in the real-time tracking of cells over prolonged phases. QD solar cells are one of the important products for the next-generation solar cell technology, which has grabbed remarkable attention since a decade. QD dot solar cells are expected to be a source of renewable energy in the near future. QD sensors are the next-generation sensors that speed up the function up to 4 times than conventional sensors. QD sensors are used in various fields ranging from medical to manufacturing. QD sensors are of different types: temperature sensors, chemical sensors, biosensors, and image sensors. Quantum dot tags are used to convey secure and multiple information about products. Quantum tags can be decoded only by ultra-sensitive Quantag sensors, which help maintain high-security authentication of the products.

Cadmium-free quantum dots to grow at a faster rate during the forecast period

The presence of cadmium has slowed down the wide-ranging adoption of quantum dots in devices, with better awareness of the harmful effects of toxic heavy metals, their use in consumer electronics is increasingly regulated. Nevertheless, research activities pertaining to the production and mass manufacturing of heavy metal-free quantum dots are going on. In 2015, Quantum Materials Corp. (US) introduced new cadmium-free (non-heavy metal) quantum dots. The company introduced quantum dots with the highest heat, moisture, and oxidation resistance, along with large Stoke shift quantum dots, by focusing on substantial research and development in improving the performance of these materials to satisfy the needs of display and lighting clients for environmentally friendly quantum dots.

Consumer vertical to dominate the quantum dot market during the forecast period

The consumer vertical is expected to continue to account for the largest share of the quantum dots market. Quantum dots are used in LCD devices. Many consumer electronics companies have started utilizing the quantum dot technology in their products as this technology could improve LCD displays dramatically in terms of color gamut, color accuracy, and reduced power consumption. In addition, the unique characteristics of quantum dots such as high brightness, pure color, and wavelength tenability enable display designers to customize a spectrum of light to maximize both the efficiency and color performance of any display for incredible new user experience.

APAC to be fastest growing market for quantum dot during the forecast period

Asia Pacific (APAC) is the fastest-growing region across the world in terms of industrial and technological developments, skilled workforce, and improved infrastructure. In APAC, countries such as China and India are considered as the fastest-growing economies in the world. In 2017, China accounted for the largest share of the quantum dots market in APAC. Various universities and organizations are involved in the R&D of the QD technology. The University of Tokyo (Japan), the University of Tsukuba (Japan), and Hokkaido University (Japan) published their reports on QD. China, South Korea, and India are also playing an increasingly significant role in the research and development of nanotechnology. The leading position of APAC can be attributed to the presence of major display manufacturers such as Samsung Electronics, Co., Ltd. (South Korea), LG Electronics (South Korea), TCL Corporation (China), and Sharp Corporation (Japan). The high demand for quantum dots by display manufacturers has resulted in the increased growth of quantum dots in APAC.

Some of the major players in the quantum dot market are Nanosys, Inc. (US), Nanoco Group plc (UK), QD Laser, Inc. (Japan), NN-Labs, LLC. (US), Ocean NanoTech (US), QD Vision, Inc. (US), Quantum Materials Corp. (US), Altair Nanotechnologies Inc. (US), InVisage (US), and OSRAM Licht AG (Germany).

 

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