The “Global 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 – Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global quantum dot market is estimated to be worth USD 4 billion in 2021 and is projected to reach USD 8.6 billionby 2026, at a CAGR of 16.2%.
Increasing demand for quantum dots in display devices, advanced features of quantum dots and the diverse applications of quantum dots are some of the major factors driving the growth of the quantum dot market. However, the limited availability of rare earth materials is likely to hinder the market growth.
The market for cadmium-free quantum dots to grow at the highest CAGR during the forecast period
Many quantum dot manufacturers are switching from toxic cadmium-based quantum dot devices to cadmium-free quantum dot devices. This act is in accordance with restriction of hazardous substances (RoHS) directive in electrical and electronic equipment. Cadmium-free quantum dots offer a safer and more sustainable alternative for manufacturers and consumers, by providing them with all the major benefits associated with the technology without the risk associated with toxicity or potential regulatory limitations due to the use of cadmium. Cadmium-free quantum dots are not only suited for displays, but also applications such as lighting solutions, solar cells, and biomedicine.
The market for displays is estimated to account for the largest share between 2021 and 2026 in quantum dot market
Quantum dots are being extensively used by display manufacturers to offer the best quality displays in the market. Quantum dot displays have a narrow spectrum, high stability and low power consumption. Hence, they are being extensively used by display manufacturers globally. Quantum dots are incorporated into wide range of display applications such as, flat-panel TV screens, digital cameras, smartphones, gaming consoles, and personal digital assistant (PDA) devices. LEDs with quantum dot luminophores is an emerging technology with high potential in the display ecosystem. As a result, the display devices are expected to dominate the quantum dot market during the forecast period.
Quantum dot market in the Asia Pacific region is expected to witness a robust growth during 2021-2026
The increasing adoption of quantum dot products in lighting, automotive and consumer electronics applications is a key factor driving the quantum dot market growth. As of now, several quantum dot products are in the pre-commercialization stage. However, in the coming years, the quantum dots will be deployed in mobile displays, batteries and energy storage systems, solar cells, medical devices, and solid-state lighting solutions.
Asia Pacific consists of many established display manufactures and several emerging market players and research organizations that are focused on R&D activities related to the quantum dot technology. Hence, Asia Pacific is expected to command the quantum dot market in the near future. The rising middle-class population with high disposable income and the growing demand for innovative products, along with improving manufacturing efficiencies is expected to drive the market growth in Asia Pacific.