Impact of COVID-19 on Quantum Dots Market
The novel COVID-19 impacted across all the industries. The world is fighting with health pandemic as well as the economy. In March 2020, the novel coronavirus was declared as a pandemic, which resulted in the lockdown and shutdown of business operations expect the essential goods businesses. The disruption of the manufacturing activities caused by the COVID-19 outbreak has severe financial, social, and operational consequences. COVID-19 has negatively impacted the quantum dots market. The lockdown imposed by the government owing to the pandemic has forced many companies operating in the Quantum Dots market to halt their business operation. The pause in operational activities leads to the slowdown in the revenue flow, which is declining the market demand. The quantum dots are nanoscale crystals, which consist of electronic and optical properties that vary from larger particles owing to the quantum mechanics. The electronics industry widely adopts them.
The increasing demand for the Quantum dots in display products such as TV, monitor, smartphones has driven the market demand. However, the closing of the production activities of these products is decreasing the need for Quantum dots. Asia-Pacific is estimated to register the highest CAGR over the forecast period owing to the presence of critical electronics companies such as SAMSUNG and LG Corporation. These companies are investing in heaving in R&D activities in order to develop innovative products. Quantum dots plays a critical role in the manufacturing of innovative display products. However, the delay in the production activities is declining the demand of the Quantum dot. Moreover, China is the hub in the production of raw materials in the electronics industry. The stop in the export of raw materials from China is also impacting the growth of the market.
Revenue generated in Consumer Electronics