according to a new study conducted by research dive, the global display dielectric materials market forecast will surpass $88,004.9 million by 2026, at a 7.9% cagr, growing from $47,900.0 million in 2018.
Display Dielectric Materials Market Drivers: The significant driving aspects for the display dielectric materials market growth are wide use of products in consumer electronics along with distinctive properties of the enhanced dielectric displays. Also, increasing usage of dielectric based displays such as LCDs, LEDs, OLEDs and other advanced displays in the consumer electronics including laptops, TVs, tablets and smartphones will propel the growth of the market. In addition, dielectric displays are being usedin promotional platforms by advertising players to display new products is also boosting the growth of the market. In addition, constant growth of technological advancements in dielectric displays along with frequent emergence of advanced displays are significantly producing growth opportunities for global display dielectric materials market.
However, some of the factors such as growing raw material cost that is directly impacting the investment costs for the manufacture of display dielectrics is a major restraint for the market growth. Also, dearth of the skilled workforce is projected to limit the display dielectric materials market growth.
LED display dielectric materials market registered for a significant market share in the previous years and is expected to grow at a moderate rate during the estimated time. The growth is majorly owing to extensive use of LED displays for the consumer electronic applications. OLED technology segment will experience a significant growth and is already growing at a faster rate of 8.6% CAGR during the forecast period. This expected rise in market size is because of unique properties such as thin, flexible and enhanced 4K & 8K resolutions. In addition, growing technological advancements and rising adoption of OLED in smartphone applications are also anticipated to drive market size in the estimated time.
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Conventional displays accounted for largest display dielectric materials market size in 2018 and is expected to grow at a rate of 56.7% in the estimated time. This dominance is mainly owing to extensive use of dielectric display products in conventional applications including advertising platforms, promotional screens etc. 3D displays segment will witness to grow at a noticeable rate and is projected to generate $18,657.0 million by 2026. Increasing demand for 3D displays from the consumers and benefits such as enhanced visual experience will boost the market growth.
Asia-Pacific has dominated the global display dielectric materials market size in terms of volume and revenue in the previous years and is anticipated to generate a revenue of $26,313.5 million by 2026. This growth is mainly because of abundant manufacturing hubs in the developing economies such as India and China. Moreover, existence of significant players in Japan along with increasing customer preference towards advanced display systems will drive the growth of the market in Asia-Pacific.North America region accounted for the second highest market share in 2018 and is anticipated to grow at a healthy rate of 8.6% CAGR during the forecast time. This expected growth is attributed to growing adoption rate and growing purchasing rate of advanced displays in the North America region.
The top gaining display dielectric materials market players are DuPont, Corning, LG Chem, Asahi India Glass Limited, SAMSUNG SDI CO., LTD, DIC CORPORATION, UNIVERSAL DISPLAY, Idemitsu Kosan Co., Ltd, Sumitomo Chemical Co., Ltd, JSR Corporation, NITTO DENKO CORPORATION, TORAY INDUSTRIES, INC., Merck KGaK, Hodogaya Chemical Co., Ltd., among others. These manufacturers are emphasizing on R&D investments, joint ventures, collaborations & partnerships and mergers and acquisitions to rise their company position in the global display dielectric materials industry.
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• Porter’s Five Forces Analysis for Display Dielectric Materials Market:
– Negotiating Command of Dealers: Display dielectric materials market includes huge number of small & medium and large sized enterprises and the resulting exchanging costs of products are projected to be high. The negotiating power of dealers is HIGH.
– Bargaining Power of Consumer: This market has high number of consumers that create huge demand for products. However, the price of the advanced display products is very high and increasing per capita income of individual is supporting the demand for display dielectric materials. The negotiating power of the consumer is HIGH.
– Risk of New Contestants: Heavy initial funds are needed for the production of the display dielectric products. Also, skilled workers are required for production of dielectric displays and rising consumers demand is producing MODERATE threat of new entrants into the market.
– Risk of Alternatives: Display dielectric materials market contains minimal number of alternatives providing potential support for the products demand and resulting inLOW risk of alternatives.
– Competitiveness in the Market: This market contains large number of large and small& medium size players and these key players are concentration on joint ventures, geographical expansions and collaborations to gain major competitive share. These strategies delivering HIGH rivalry between the key players.
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