Display Material Market
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The proliferation of display materials has accelerated with the increased adoption of sophisticated consumer electronic products including smartphones, tablets, and wearables. There is a growing demand for enhanced resolution, color reproduction, and energy-efficient displays which allow investment for advanced and costly display materials dependent on OLED, QLED, and microLED technologies. The expansion of the market is also driven by the innovation of products that meet these new demands.
The automotive display industry is growing, leading to higher demand for display materials. The expansion of advanced driver assistance systems (ADASs), vehicle information and the development of digital instrument clusters have in turn led to the production of high-performance display materials. Improvement in the brightness, durability and energy efficiency of OLED, TFT-LCD and micro-LED displays also contribute to the production of this material. In addition, the increasing emphasis on electric and self-driving vehicles requires incorporating more engaging and sophisticated displays while improving the performance and safety of automotive components.
| Report Attribute | Details |
|---|---|
| Base Year: | 2024 |
| Display Material Market size in 2024: | USD 34.8 Billion |
| Forecast Period: | 2025 – 2034 |
| Forecast Period 2023 - 2032 CAGR: | 3.6 |
| 2023 Value Projection: | USD 48.8 Billion |
| Historical Data for: | 2021 – 2024 |
| No of Pages: | 210 |
| Tables, Charts & Figures: | 300 |
| Segments Covered: | Material, Application, Technology |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The automotive display industry is growing, leading to higher demand for display materials. The expansion of advanced driver assistance systems (ADASs), vehicle information and the development of digital instrument clusters have in turn led to the production of high-performance display materials. Improvement in the brightness, durability and energy efficiency of OLED, TFT-LCD and micro-LED displays also contribute to the production of this material. In addition, the increasing emphasis on electric and self-driving vehicles requires incorporating more engaging and sophisticated displays while improving the performance and safety of automotive components.
From traditional LCDs to OLEDs and micro-LEDs, the landscape of display material has changed. The screen is the most advanced technology for smartphones, televisions, high-quality electronic readers and other high-quality materials, owing to the advances of OLEDs. Demand for microLEDs is increasing in high end products due to improved features such as brightness and energy efficiency in AR/VR devices and large screens. These changes resulted into innovations in emitting materials, cover layers, and backplane technology to meet the demands of modern displays.
A new creative innovation in development includes flexible and foldable displays that have become a trend that fit mobile phones, rollable televisions and flexible mobile devices. These innovative shapes require new powerful materials, such as durable coatings, flexible substrates, and transparent conducting films, to withstand continuous rotation. Because consumers are increasingly inclined to these unique designs, this broadens the opportunities for material research and exhibition material markets.
Smart electronics, automobile front-end displays, retail digital signage and even industrial interfaces have opened new market opportunities that require new robust and high-performance materials with outstanding clarity and resistance. In addition, without transparent and touch-sensitive display materials, it is quite difficult to advance with augmented reality (AR) and mixed reality (MR) devices. However, this will change the entertainment and health industry. This growing range of applications increases the potential for growth for exhibiting materials manufacturers.
Economic efficiencies are an important milestone in the introduction of new products and in the expansion of sales. At the same time, the cost of initial marketing and production is high, and equipment investment creates obstacles. The same applies to display materials developments, which involve additional expenses for investment in OLED and micro-LED technologies due to the need for advanced manufacturing methods.
Based on technology, the display material market is divided into liquid crystal display (LCD), organic light emitting diode (OLED), quantum dot display, micro-LED display, e-paper display (EPD). The organic light emitting diode (OLED)segment dominated the global market with a share of 10.7% in 2024.
Based on applications, the display material market is divided into consumer electronics, automotive, healthcare, retail, industrial and enterprise, others. The consumer electronics segment is expected to register a revenue of USD 15.6 billion by 2034 during the forecast period and reach.
U.S. dominated the North America display material market in 2024, accounting for a share of 87.4%. The development of the U.S. display materials market is supported by country-wide technological innovations and the growth of electronic consumption. With the increase in the use of AR/VR devices, automotive HUDs, and imaging systems in health care, the advanced materials market is experiencing strong growth. In addition to this, prominent stakeholders from the US market are funneling millions into the research and development of advanced materials for next generation displays which enable the US to remain in the forefront of innovation and high-end applications.
Japan market continues to dominate and command the global market, especially with their supply of OLED and micro-LED materials. Japanese companies are known for their precision and quality of materials that are intended for specific high-end markets. Japan’s emphasis on energy savings and sustainable manufacturing processes complies with international developments and allows Japan to take leading positions in green display material production. Similarly, the integration of screens into robotic and automotive technology reaffirms Japan's industry dominance.
China display material market is the main player in the sale of the largest number of display panels, making it an important market for display components. The country's rapid industrial growth and the demand for smartphones, televisions and portable devices in the region are promoting the development of new materials. Furthermore, self-sufficiency policies in semiconductors and display technologies are also stimulating local production. China has invested heavily in OLED and micro-LED manufacturing plants and plans to maintain its position as a leader in volume manufacturing and innovation.
South Korea display material industry is driven by its leadership in the field of OLED and QLED technology. Major South Korean companies invest resources in building flexible, foldable, transparent displays that require a large number of high-tech materials for production. The country's surrounding environment, including numerous panel display manufacturers and material supply companies, provides a complete supply chain to quickly adapt new technologies. In addition, South Korea focuses on AR/VR and automotive applications that require advanced materials for these industries.
The competition is focused on the high demand for high resolution display products, and players such as Corning, LG Chem Ltd, Merck KGaA are competing for product innovation and differentiation, focusing on high-end technologies such as OLED, quantum dots, and superlative substrates. Pricing is another factor that defines competition since several producers are seeking quality products at low prices. Distribution networks also pose a competitive challenge as firms are establishing and maintaining dependable international supply chains in the most challenging locations as quickly as possible. Furthermore, firms are trying to lower emissions and improve their sustainability image to strengthen their market position and meet regulatory thresholds. There is, however, international competition which limits the requirements and technology solutions, expenses, clients and especially the solutions imposed in the region.
Major players operating in the display material industry are:
Market, By Material
Market, By Application
Market, By Technology
The above information is provided for the following regions and countries:
Major players in the industry include Corning Incorporated, DIC Corporation, DowDuPont Inc., Hitachi Chemical Co., Ltd., Idemitsu Kosan Co., Ltd., Innolux Corporation, Japan Display Inc., JNC Corporation, Kyulux, Inc., LG Chem, Ltd., Lumileds Holding B.V., Merck KGaA, Nanoco Technologies Limited, Nitto Denko Corporation, Samsung Display Co., Ltd., and Sumitomo Chemical Co., Ltd.
The global market size for display material was valued at USD 34.8 billion in 2024 and is projected to reach USD 48.8 billion by 2034, driven by a CAGR of 3.6% during the forecast period, fueled by the rising demand for advanced consumer electronics.
The U.S. accounted for 87.4% of the North American market in 2024, driven by its leadership in technological innovation and high consumer spending on electronics.
OLED technology held a 10.7% market share in 2024, driven by its unmatched visual clarity, deeper blacks, and vibrant colors, making it the preferred choice for premium devices like smartphones and high-end TVs.