Display Dielectric Materials Market to Reach $113.1 Billion, Globally, by 2032 at 7.8% CAGR: Allied Market Research

An increase in demand for LCD and OLED displays is anticipated to drive the growth of the global display dielectric materials market during the forecast period. The Asia-Pacific region is projected to grow at the highest CAGR by 2032.

PORTLAND, Ore., June 1, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Global Display Dielectric Materials Market by Technology (LCD, LED, OLED, TFT-LCD, and Others), Application (Transparent, Conventional, 3D, and Flexible Display), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global display dielectric materials market generated $53.3 billion in 2022, and is anticipated to generate $113.1 billion by 2032, witnessing a CAGR of 7.8% from 2023 to 2032.

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Prime Determinants of Growth

A steady increase in the demand for LCD and OLED displays has led, in turn, to an increase in demand for dielectric materials. This surge in demand is predicted to be one of the important factors driving the growth of the global display dielectric materials market in the forecast period from 2023 to 2032. However, the high cost of dielectric materials may hamper the display dielectric materials market growth in the coming future. On the contrary, the growing demand for advanced displays has caused a massive surge in adoption of dielectric materials that can withstand repeated bending and stretching without losing their characteristics. This growing adoption of dielectric materials is expected to offer remunerative opportunities for expansion of the display dielectric materials market during the forecast period.

Report Coverage & Details:

COVID-19 Scenario

• The outbreak of the COVID-19 pandemic has had a moderate impact on the growth of the global display dielectric materials market. Initially, due to lockdowns, many display dielectric materials manufacturing companies got shut down which affected the regular supply of finished goods.
• However, in the later stages of the pandemic, the demand for monitors and LED displays grew due to a shift to work-from-home culture which made it necessary for people to buy their own desktop monitors, laptops, and tablets.
• The display dielectric materials market is further projected to show steady growth in the future due to increasing demand for smartphones, tablets, and laptops.

Technology: LED Sub-segment Projected to Hold Highest Share During the Forecast Period

The LED sub-segment accounted for the majority of display dielectric materials market share in 2022. There is an overall increase in the adoption of LED displays worldwide in sports events, concerts, as well as in retail, transportation, and hospitality sectors due to the various advantages offered by LED displays including high brightness, vibrant colors, and low power consumption. This surge in demand for LED displays is predicted to boost the sub-segment's growth by 2032.

Application: Conventional Sub-segment to Have a Significant Market Share by 2032

The conventional sub-segment of the display dielectric materials market accounted for the majority of market share in 2022. The increasing use of display dielectric materials in conventional displays like LCDs to improve their performance and colored accuracy is expected to drive the conventional sub-segment growth by 2032. Besides, dielectric materials are also utilized to enhance the optical properties of the display thus, allowing for improved viewing angles.

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Region: Asia-Pacific Market to be the Fastest Growing by 2032 

The Asia-Pacific region accounted for the highest market share in 2022 and is expected to continue its dominance during the forecast period. The growing sales of smartphones and laptops in countries, such as Japan, China, South Korea, and India has led to a surge in demand for display dielectric materials. This surge in demand is projected to help the display dielectric materials market in Asia-Pacific region to grow at a stunning rate of 8.3% by 2032.

Leading Players in the Display Dielectric Materials Market:

• Corning Incorporated
• Nippon Chemical Industrial CO., LTD.
• DONGJIN SEMICHEM CO LTD.
• Merck KGaA
• SAKAI CHEMICAL INDUSTRY CO., LTD.
• Nitto Denko Corporation
• DuPont
• LG Chem
• ENF Technology
• SAMSUNG SDI CO., LTD.

The report provides a detailed analysis of the key players of the global display dielectric materials market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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