Quantum Dots Market is expected to grow from USD 2,520.98 Million in 2018 to USD 8,151.07 Million by 2025, at a CAGR of 26.45%, during the forecast period. The Quantum dots are the Nano-meter size particles used in various applications due to their optical properties. The potential advantages of the Quantum dots which enable the industries to tune the wavelength of the light emitted according to the requirements are considered as the primary growth-stimulating factor for the Quantum Dots Market. The size, shape, and composition of the particles make them highly suitable for displays manufacturing and other commercial uses. The plasma synthesis procedure is highly adopted in recent times, owing to the flexibility that offers concerning control over the size, surface, shape of the Quantum dots. On the other hand, the technological advancements in the industry are increasing owing to the increasing end-user applications of the technology. However, screen manufacturers are considered as the primary end-user industries for the Quantum Dot industry.
The cadmium-free quantum dots are gaining popularity in several regions owing to the higher sustainability and reduced risk associated with the usage of cadmium in the screens.
COVID 19 Analysis:
The COVID 9 has affected the production rates and supply chain, demand, and supply ratio in various industrial verticals. The manufacturers of the Quantum dots were also immensely affected by the pandemic due to the imbalance of the demand and supply. However the medical sectors have been increasingly focusing on handling the casualties, on the other hand, the medical industry is also focusing on incorporating advanced technologies to ease up the diagnosis of the diseases. The nanoparticles of the quantum dots were used for varied biomedical applications such as medical imaging machines, biosensors, and the medical researchers are utilizing the quantum dots in diagnosing the cell structure, changes in the cell structure, diagnosis of cancer, and other chronic illnesses.
The retail and commercial sectors were severely impacted by the pandemic, however experiencing growth in recent times, as the governments of various countries have relaxed the norms and regulations. Post pandemic, the demand for the displays and advertising sectors are witnessing growth, such factors are expected to stimulate the growth of the Quantum Dots Market in the forecast period.
The unique, potential advantages of Quantum dots such as emission tenability, higher stability even in harsh environmental conditions, optical stability, and narrow emission bands are propelling their utilization in various end-user industries in recent times.
The growing demand for energy with the growing population is increasing the demand for solar cells which propels the manufacturers of the solar cells in utilizing these Quantum dots in the solar panels to enhance electricity generation. The lower power consumption of the devices that utilize the Quantum dots is also considered primarily by the manufacturers of the displays. Especially, the quantum dots displays are known for the color resolution, color purity, and are expected to offer a high dynamic range experience for the viewers.
The increasing consumer-based for the large displays and high-resolution displays across the world is expected to drive the overall growth of the Quantum Dots industry. The declining prices of LCDs screens, monitors, displays, and growing demand for the 4K and 8K displays for the advertisements, commercials, and retails, residential is expected to drive the overall growth of the Quantum Dots industry.
On the other hand, the ongoing research to further incorporate in varied end-user applications, reducing the utilization of toxic materials in the manufacturing procedures of Quantum Dots are also expected to impact the overall growth of the Quantum Dots Market.
The size and composition of the Quantum dots were considered as the advantage in the display and electronic industries, whereas in the field of biochemistry, the size is considered as the drawback as it gets harder for them to diffuse into the cellular membranes. On the other hand, the structure of the Quantum dots could destroy the cell structure itself.
The rarity of raw materials such as Cadmium, zinc, selenium, indium which are considered as the primary raw materials is expected to hinder the overall growth of the quantum dot industry. On the other hand, the toxicity range of these materials is also causing environmental hazards. The hard regulations imposed in manufacturing facilities are expected to hinder the overall growth of the Quantum Dots industry.
Most of the existing Quantum Dot materials include toxic materials such as Cadmium. Such inclusions are prone to harm the environment during and after the usage of Quantum dot devices. The challenge is handled by replacing the cadmium with indium and zinc substitutes.
The higher costs incurred during the manufacturing of the quantum dot technology and lower adoption of the technology in developing countries are expected to be a major challenge in the overall growth of the Quantum Dot industry.
The Quantum Solar cells have enhanced the production of electricity in the solar panels. The increasing adoption of solar panels in several countries is fuelling the Quantum Dot market growth in recent times. Additionally, the size and composition of the Quantum dots make them perfect for several applications in various sectors. The increasing end-user applications include telecommunication, commercial sector, healthcare, defense, medical appliances, advertising, and others. The increasing demand for miniaturized devices and energy-efficient solutions across the world are also impacting the overall growth of the Quantum Dots Market. The market value of the Quantum dot industry was at USD 2520.98 million in the year 2018 and is expected to surpass USD 8151.07 million by the year 2025 while registering a CAGR of 26.45% during the forecast period.
Some of the crucial industries, such as the inks and polymers industry are also incorporating the Quantum dots to manufacture paper money and more importantly to disintegrate the original ones from duplicates. Tracking biomolecules in animals’ cells are also considered the most important application of the Quantum dots industry.
The Quantum dots are used in the solar energy systems, the increasing risk of climatic change, depleting fossil fuels, increasing impacts of carbon footprints have been increasing the energy demand. Additionally, the growing population is also impacting the energy demand. This factor is expected to boost the Quantum Dots market growth in the forecast period. The ongoing research on the Quantum Dots industry is expected to expand the end-user applications such as Food and packaging, defense, security, medical department and thereby increase the Quantum Dots market value in the forecast period.
Especially, the display manufacturers are intensively utilizing the Quantum Dots technology for potential benefits such as increased display quality with lesser power consumption. Some researchers are allocating resources for the synthesis of Graphene Quantum dots for benefits like higher stability, higher control over surface properties, tuneable PL emission wavelength. On the other hand, the Quantum dots were increasingly utilized in determining the presence of cancerous cells, and other applications that include, medical imaging systems, biosensors, and biomedical applications.
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Asia-pacific countries are increasingly projecting higher Quantum Dots market growth in recent times owing to the growing inclination of the customers for advanced technology, and touch screen displays. Moreover, the presence of some of the leading market players such as Samsung Electronics, Sony Corporation, LG is further bolstering the overall growth of the Quantum Dots industry. Additionally, countries like Japan, South Korea are advancing at a rapid pace in the field of electronics and semiconductor devices which is also presenting opportunities for the Quantum Dot industry to grow.
Other factors such as increasing demand for solar energy-based devices, optoelectronics in Asia-pacific regions were impacting the overall growth of the Quantum Dots industry. The increasing costs of TV, monitors, smartphone industries have fuelled the adoption of QD displays.
One of the leading market players, which is also a US-based manufacturer of Quantum materials, called Quantum Materials Corp., announced a 100% cadmium-free QDX quantum display in the year 2019. The display is considered to possess the highest heat, oxidation, and moisture resistance and the quality of the Quantum dots used in the film doesn’t get degraded under high heat. The supreme stability, performance under higher temperatures make them work effectively in harsh and moisture-laden environments.
In the year 2020, Samsung Electronics has developed the leading quantum dots which possess cadmium-free blue quantum dot light-emitting diode technology. Further, the novel technology has 20.2% luminous efficiency and 16,000 hours of QLED lifetime. Samsung had also launched the QLED TV with higher energy ratings in South Korea and has started working on the mini LED displays.
This report has covered:
The global quantum dots market was valued at USD 2.52 billion in 2018.
The global quantum dots market is expected to record a substantial market valuation of up to USD 8.1 billion by 2025.
The global quantum dots market is projected to register a moderate 26.45% CAGR in the forecast period.
Solar cell segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global quantum dots market are LG Display Co., Ltd (South Korea), Navillum Nanotechnologies (US), Pacific Light Technologies (US), and Nano Elements Source, LLC (US), among others.