Flexible Display Market Size, Share, Industry Trends and Forecast to 2030

Flexible Display Market Size & CAGR in 2021

The flexible display market has been growing steadily in 2021, with a size of USD 3.5 billion. The compound annual growth rate (CAGR) for the market in 2021 is estimated to be around 8%. This growth can be attributed to the increasing demand for smartphones, tablets, wearables, and other electronic devices that utilize flexible display technology.

COVID-19 Impact on the Flexible Display Market

The COVID-19 pandemic had a significant impact on the flexible display market in 2021. With lockdowns and restrictions in place, the production and supply chain of flexible display components were disrupted. However, as the world adjusted to the new normal and demand for electronic devices surged, the market witnessed a rebound in the latter half of the year. Companies in the industry quickly adapted to the changing landscape and focused on innovation to meet the evolving needs of consumers.

Flexible Display Dynamics

The flexible display market is driven by the increasing adoption of smartphones with foldable screens, smart wearables, and flexible TVs. As consumers seek devices with larger screens in compact sizes, the demand for flexible displays continues to rise. Technological advancements, such as OLED and AMOLED displays, have revolutionized the viewing experience and enabled manufacturers to produce thinner and lighter devices. Additionally, the growing trend of IoT and smart home devices further fuels the demand for flexible displays.

Segments and Related Analysis

The flexible display market can be segmented based on technology, application, and substrate material. OLED technology dominates the market due to its superior picture quality and energy efficiency. The applications of flexible displays span across smartphones, tablets, laptops, TVs, and automotive displays. Substrate materials like plastic and glass are used in the manufacturing of flexible displays, each offering unique advantages in terms of durability and flexibility.

By Region Analysis

The global flexible display market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America holds the largest market share, driven by the presence of key players and technological advancements in the region. Asia Pacific is expected to witness the fastest growth rate, attributed to the growing consumer electronics market and increasing investments in flexible display technology.

Key Market Players and Competitive Landscape

Some of the key players in the flexible display market include Samsung Display, LG Display, BOE Technology Group, Corning Incorporated, and Japan Display Inc. These companies are at the forefront of innovation and strategic partnerships to maintain their competitive edge in the market. The intense competition among players leads to continuous advancements in flexible display technology and enhanced product offerings.

Recent Happenings in the Flexible Display Market

The flexible display market has witnessed several recent developments, such as the introduction of foldable smartphones, rollable TVs, and curved displays. Samsung's Galaxy Z Fold series and LG's rollable OLED TV are prime examples of the industry's innovation. Additionally, collaborations between display manufacturers and device makers have led to the integration of flexible displays in a wide range of products, from wearables to automotive consoles.