Display Material Market Insights

1. Market Size & CAGR of Display Material market in 2021

The global display material market is expected to experience a growth rate of 4.5% CAGR from 2021 to 2030. In 2021, the market size was estimated to be USD 10.2 billion.

2. COVID-19 Impact on the Display Material Market

The COVID-19 pandemic had a significant impact on the display material market. With the disruption in supply chains and manufacturing operations, the market witnessed a temporary slowdown in 2020. However, with the gradual recovery of economies in 2021, the market bounced back with increased demand for display materials in various industries.

3. Display Material Dynamics

The display material market is driven by technological advancements in the display industry, increasing demand for high-quality displays in consumer electronics, and the rising adoption of OLED and QLED technologies. On the other hand, fluctuating raw material prices and intense market competition pose challenges to market growth.

4. Segments and Related Analysis

The display material market is segmented based on material type, application, and end-user industry. Each segment plays a crucial role in shaping the market landscape and driving innovation in display technologies.

5. By Region Analysis

Regionally, Asia Pacific dominated the display material market in 2021, followed by North America and Europe. The increasing demand for smartphones, tablets, and TVs in countries like China, India, and South Korea contributes to the growth of the APAC market.

6. Key Market Players and Competitive Landscape

In the display material market, key players such as Samsung Display, LG Display, Corning Incorporated, and BASF SE have a strong presence. These companies focus on product innovation, strategic partnerships, and mergers to maintain their competitive positions in the market.

7. Recent Happenings in the Display Material Market

- In August 2021, Samsung Display announced the development of a new flexible OLED panel for smartphones with enhanced durability and brightness.

- Corning Incorporated launched a new line of antimicrobial glass for touchscreens in February 2022, addressing the growing need for hygiene in public displays.

- BASF SE introduced a sustainable display material made from recycled plastics in collaboration with a leading electronics manufacturer in June 2022, promoting environmental consciousness in the industry.