New York, USA, June 29, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global display dielectric materials market. According to the report, the global market is projected to surpass $113.1 billion and grow at a CAGR of 7.8% in the estimated period, 2023-2032. This all-inclusive report delivers a comprehensive overview of the current and future situation of the display dielectric materials market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the Display Dielectric Materials Market
The COVID-19 pandemic had a mixed impact on the global display dielectric materials market. Initially, the market experienced a drop in demand as a result of supply chain and manufacturing disruptions. The transition to remote work and study, on the other hand, increased the demand for monitors and televisions, pushing up the demand for dielectric materials used in displays. Despite the difficulties, the market was able to alleviate some of the problems owing to the increasing demand for consumer electronics amidst the pandemic.
Factors Impacting the Display Dielectric Materials Market Growth
The increasing demand for LCD and OLED displays and the growing popularity of smartphones, televisions, and LED displays, is driving the expansion of the display dielectric materials market. Furthermore, developments in display technology is expected to provide tremendous growth potential for the market in the forecast period. The high cost of dielectric materials, on the other hand, is expected to be the key limitation, possibly impeding market expansion, particularly in mass production scenarios.
The report segments the global display dielectric materials market into technology, application, and region.
LED Sub-Segment to Observer Leading Growth
The LED sub-segment of the application segment is projected to grow enormously in the forecast period. This growth is mainly due to the rising demand for high-quality and energy-efficient displays across various applications that has contributed to the increased adoption of LED displays.
Conventional Sub-Segment to Grab a Foremost Share of the Market
The conventional sub-segment of the application segment is foreseen to observe leading growth in the forecast period. This growth is mainly because display dielectric materials play a vital role in enhancing the performance of conventional displays like LCDs. Specifically, dielectric materials are used as insulating layers between the electrodes and the liquid crystal material in LCDs. This usage helps in optimizing the functionality and efficiency of LCD technology.
Asia-Pacific Region to Perceive Fastest Growth
The report analyzes the global display dielectric materials market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the Asia-Pacific market is projected to observe rapid growth in the estimated period. The region has seen a considerable increase in demand for display dielectric materials because of increased adoption of high-quality displays, which has been fueled by factors such as the trend for remote work and digitalization, resulting in an increase in laptop and smartphone usage.
Key Players of the Display Dielectric Materials Market
The report states some of the foremost players operating in the global market including
- SAKAI CHEMICAL INDUSTRY CO. LTD.
- Corning Incorporated
- DuPont
- Nippon Chemical Industrial CO. LTD.
- LG Chem
- DONGJIN SEMICHEM CO LTD.
- Nitto Denko Corporation
- Merck KGaA
- SAMSUNG SDI CO. LTD.
- ENF Technology.
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
For instance, in December 2022, DuPont Electronics & Industrial ("DuPont"), a global innovation leader in technology-based materials, chemicals, and solutions, introduced a new photo-imageable dielectric (PID) dry film material under their CYCLOTENE™ advanced electronics resins. This cutting-edge product has been designed for use in sophisticated semiconductor packaging applications, expanding DuPont's portfolio in this area.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about Display Dielectric Materials Market:
- What are Display Dielectric Materials - Properties and its Types?
- Growing Adoption of QLED and OLED Displays to Boost the Growth of Global Display Dielectric Materials Market
