New York, March 13, 2023 (GLOBE NEWSWIRE) -- The global Dielectric Material Market reached US$ 55.9 billion in 2022. Between 2022 and 2032, global dielectric material sales are set to surge at 4.3% CAGR. At the end of 2032, the worldwide market for dielectric materials will surpass US$ 84.8 billion.
In 2021, the global dielectric material market size reached US$ 53.2 billion. Flexible display segment is forecast to expand at 4.1% CAGR. This will make it the most lucrative application for dielectric materials.
Rising demand for electronic devices such as mobiles and television is driving the dielectric material market. Besides this, high adoption of displays in vehicles will foster sales.
Dielectric materials are widely used in the electronics industry. They are used to manufacture different types of displays such as LCD, OLED, and plasma displays. In recent years, demand for smartphones and televisions has increased significantly. This is due to higher adoption of electronic display products such as smartphones and television.
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There were around 210 million television units and about 1.4 billion smartphone sales in the world in 2021. By 2028, total number of smartphones sold is likely to increase to 1.5 billion units. This rise in demand will bolster dielectric material sales over the next ten years.
Growing popularity of foldable and flexible smartphones is likely to boost the market. Leading mobile manufacturers are shifting their preference towards manufacturing innovative smartphones. For instance, Samsung recently announced it has sold around 10 million smartphones with foldable displays.
Similarly, in June 2022 Rajesh Exports announced that it will be investing US$ 3 billion to set up India’s first display production facility in Telangana. This will in turn elevate demand for dielectric materials as they are used for manufacturing displays.
Key Takeaways from Dielectric Material Market Report:
- Global sales of dielectric material are forecast to surge at 4.3% CAGR through 2032.
- By technology, TFT-LCD displays segment will expand at 4.2% CAGR between 2022 and 2032.
- Based on application, flexible displays segment is set to progress at 4.1% CAGR.
- China dielectric material market is likely to reach a valuation of US$ 21.3 billion by 2032.
- The United States dielectric material market will touch a valuation of US$ 13.5 billion by 2032.
- Dielectric material demand in South Korea is forecast to increase at 4.7% CAGR through 2032.
- The United Kingdom dielectric material industry will exhibit a CAGR of 2.7% CAGR over the next ten years.
“Escalating demand for electronic devices will spur growth in the dielectric material market. Besides this, penetration of high-speed internet will bode well for the market.” Says a Persistence Market Research analyst.
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Who is Winning?
Leading dielectric material manufacturers include KOLON Industries, Samsung Display, Kent Displays, NKT Photonics, LG Display, NEC Display Solutions, Polyera Corporation, SCHOTT AG, Honeywell Electronics Materials, Plastic Logic, and Innovation Works.
New product development and facility expansions are key strategies adopted by companies. Besides this, manufacturers are also utilizing mergers, acquisitions, and partnerships to expand their presence.
Recent Developments:
• In April 2021, The display arm of Samsung started production of mobile display panels in its Noida factory In India. This manufacturing facility has increased the capacity of production of display panels for Samsung.
Get More Valuable Insights into Dielectric Material Market
Persistence Market Research, in its new offering, presents an unbiased analysis of the Dielectric Material market, presenting historical market data (2017 to 2021) and forecast statistics for the period from 2023 to 2032.
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The study reveals extensive growth in the Dielectric Material market in terms of
- end user (E- Ink Display, TFT- LCD, LED, OLED, LCOS, Plasma, and DLP, Digital Light Processor)
- material (Metal Oxides, Material for Substrates, liquid Crystals, Photonic Crystals),
- application (Conventional display, Flexible display, Transparent Display, 3D Display)
- across several regions.
About the Semiconductor and Electronics Division at Persistence Market Research
Persistence Market Research's highly experienced semiconductor and electronics team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the technology business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.
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