New York, USA, July 15, 2024 (GLOBE NEWSWIRE) -- Market Overview:
The global quantum dot market size is predicted to grow from USD 8.95 billion in 2023 to USD 40.45 billion by 2032. It is anticipated to grow at a compound annual growth rate (CAGR) of 18.3% from 2024 to 2032, according to the latest research report by Polaris Market Research.
Market Introduction:
What are Quantum Dots?
Quantum dots are artificial tiny particles or nanoscale crystals of a semiconductor material. The diameter of these particles falls within the range of 2-10 nanometers. Quantum dots can possess several varied properties based on their material and shape. Other factors that influence the properties of quantum dots are composition and structure. They can transport electrons and emit light of various colors under UV light. There are several methods of producing quantum dots. The most typical process is colloidal synthesis, where heat is applied to the solution to decompose the precursors into monomers, which then produce nanocrystals.
Quantum dots find a wide range of uses across various sectors. Some of the potential applications of these particles include solar cells, composites, lighting, displays, and medical imaging. The quantum dot market is witnessing substantial demand owing to its increased use across various sectors. Besides, the rising demand for flexible and eco-friendly environmental products due to the establishment of stringent regulations and security norms is having a positive influence on the expansion of the market.
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Quantum Dot Market Report Attributes:
| Report Attributes | Details |
| Market value in 2023 | USD 8.95 billion |
| Market value in 2032 | USD 40.45 billion |
| CAGR | 18.3% from 2024 – 2032 |
| Base year | 2023 |
| Historical data | 2019 – 2022 |
| Forecast Period | 2024 – 2032 |
Key Highlights of the Report:
- Various factors, including rising advances in quantum dots and increasing demand for high-quality displays, are driving the market for quantum dots.
- The market is primarily segmented based on material, product, display technology, application, and region.
- North America dominated the market with the largest quantum dot market share.
Quantum Dot Market Key Players:
- American Elements
- AUO Corporation
- Avantama AG
- BOE Technology Group Co., Ltd.
- Hansolchemical
- LG Display Co., Ltd.
- Merck KGaA
- Nanoco Group plc
- NNCrystal US Corporation
- SAMSUNG Display
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Top Market Developments:
Growth Drivers and Trends:
- Remarkable Properties of Quantum Dots: Semiconductor quantum dots in photocatalysis have several benefits, including superior visible light absorption, the multi-excitation effect, and customizable energy bands. The remarkable properties of these particles have garnered a lot of investments.
- Rising Need for High-Quality Displays: The nanotechnology incorporated in quantum dots enhances the display by producing and remitting brilliant lights. The growing demand among consumers for high-quality displays supports the quantum dot market growth.
- Increased Awareness among Manufacturers: Advances in quantum dots have resulted in increased awareness about quantum dots among industrialists and manufacturers, thereby attracting investments to harness the full potential of quantum dots.
Challenges:
- Complex Manufacturing Processes: Quantum dots need complex manufacturing processes. Also, the involvement of complex chemical reactions demands precise control over reaction parameters. These factors, along with the use of specialized tools, can impede the growth of the market.
Which Region Leads the Quantum Dots Sector?
- North America: The North America region dominated the quantum dots industry with the largest revenue share. The region’s dominance in the market can be attributed to the early adoption of quantum dots technology. Also, rising public awareness about fitness and health further supports the market development in the region.
- Asia Pacific: Asia Pacific is anticipated to witness the fastest growth in the quantum dot market over the estimated period. This is due to the increased demand from the optical and electronics industry segment. With the presence of excellent infrastructure and low labor costs, countries like Taiwan and China are anticipated to present significant growth prospects for global firms looking to establish QD R&D sites in the region.
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Segmental Overview:
By Material Outlook:
- Cadmium-based Quantum Dots
- Cadmium Selenide Quantum Dots
- Cadmium Sulfide Quantum Dots
- Cadmium Telluride Quantum Dots
- Cadmium Zinc Selenide Quantum Dots
- Cadmium-free Quantum Dots
- Indium Arsenide Quantum Dots
- Silicon Quantum Dots
- Graphene Quantum Dots
- Lead Sulfide Quantum Dots
- Carbon Quantum Dots
- Perovskite Quantum Dots
- Lead Selenide Quantum Dots
- Others
By Product Outlook:
- Displays
- Lasers
- Solar Cells/Modules
- Medical Devices
- Photodetectors/Sensors
- LED Products
- Others
By Display Technology Outlook:
- QD-LCDs
- Mini-LEDs
- QD-OLEDs
By Application Outlook:
- Consumer
- Commercial
- Retail
- Corporate
- Hospitality
- Healthcare
- Biological Imaging
- Cellular Labeling
- DNA Labeling
- Quantum Dots based Cancer Diagnosis
- Defense
- Telecommunication
- Others
By Region Outlook:
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, Australia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semiconductors, and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high-growth markets, emerging business environments, and the latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced, and extremely qualified team of experts comprising SMEs, analysts, and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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