Wearable Display Device Materials Market Overview
The wearable display device materials market is expected to grow at a high CAGR of 13.05% and a valuation to USD 4,157.2 million during the forecasted period 2021-2027. The demand for wearable display device materials is expanding because of the rising use of consumer electronics and smart devices.
The global market for wearable display device materials has been spread across various regions like North America, the Middle East, Africa, Europe, Asia Pacific, and the rest of the world. Of these, the Asia Pacific regional market is estimated to lead the global market for wearable display device materials during the review period.
The market for wearable display device materials has been segmented based on substrate, coatings, adhesives, and end-use industry. Further, the substrates segment has been classified into glass, polycarbonates, fiber, and others. The coatings segment is segregated into perylene, piezoresistive, superhydrophobic, conductive, and others. The adhesives segment is categorized into silicone, acrylic, epoxy, and polyurethane. The end-user industry segment has been segmented into smart glass, wearable cameras, smartwatches, fitness trackers, and others.
COVID 19 Analysis
Owing to the global pandemic of COVID 19 the growth of the wearable display device materials market has shown a downfall in the global market which falls the economies into forced recession and due to this fact, the global market demand for wearable display devices has reduced many times because of manufacturing shutdown during lockdown period.
The wearable display device materials market is expected to recover from this global pandemic in the second quarter of the coming year.
Market Dynamics
Drivers
Owing to the increase in the phenomenon of the Internet Of Things (the IoT), and its interconnected capacity with various devices like computers, laptops, tablets, smartphones, etc it has to drive the wearable display device materials market in the global market. This has made the life of consumers easy and comfortable as it can easily be connected with smart sensors, drones, driving cars, and various wearable display devices.
Opportunity
The opportunity in the development of hybrid and multi-function wearable devices that will integrate all the functions in one compact device. The demand for these products will increase during the forecasted period.
Restraint
The wearable display device materials market is growing at a very fast speed but some factors restraints its growth like the high cost because of rapid evolution and development of consumer electronics and hence the products of old technology becomes obsolete within a short period. Also, it is a big challenge to update at the speed at which technology is growing. Also, consumers want their products to be of the latest technology as a result, more cost is incurred for the installation of new technology now and then. Also, it affects the production cycle of the products.
Value Chain Analysis
With the advent of wearable display devices market in the global market, the life of the consumers has become very easy and comfortable as now they have devices that can easily monitor their health all the time. This will reduce the burden of doctors and staff as now the health conditions can easily be monitored using wearable display devices to improve the treatment and diagnosis. These wearable display devices help in motivating the customers as they help in keeping the track of their goals and accomplishments and helps in self-improvement.
Market Segmentation
The wearable display device materials market in the global market is divided based on substrate, adhesives, coatings, and end-use industry.
Based on substrates
The wearable display device materials market in the global market is divided based on the substrate into glass, fiber, polycarbonates, and many others. The leading dividend in the substrate segment is the polycarbonates with a growth of a CAGR of 13.8% to reach the value of USD 2,267.5 million during the forecasted period.
Based on adhesives
The wearable display device materials market in the global market is divided based on adhesives into silicon, epoxy, acrylic, and polyurethane. Owing to the conductive coatings that prevent electric discharge and hence helps in preventing heating, silicon adhesive dividend is expected to reach a value of USD 1,017 million as it is used in appliances, electronics, and automobiles.
Based on coatings
The wearable display device materials market in the global market is divided based on coating into perylene, superhydrophobic, piezoresistive, conductive, and others.
Based on the End-Use industry
The wearable display device materials market in the global market is divided based on the end-use industry into the smart glass, smartwatches, wearable cameras, fitness trackers, and many others. Owing to the increasing use of checking check pulse rate, calories consumed, heart-beat, and sleeping pattern are the factors leading to the growth of smartwatches.
Regional Analysis
The largest share in the global wearable display device materials market is held by the Asia-Pacific region which is expected to show a high CAGR of 14.5% during the forecasted period from 2021 to 2027. Under this region, China has the leading market. Indian market is also showing tremendous growth in the global market and is expected to rise more during the forecasted period from 2021 to 2027.
The second position is held by the North American region owing to an increase in disposable income of the people and a shifting trend towards smart devices has lead to the growth in the North American region.
Competitive Landscape,
Some of the major key players in the wearable display device material market in the global market are as follows:
To increase the market share of the wearable display device materials market in the global market these prominent players use various strategies like product collaboration and launching and tapping the untapped market for the potential customer base.
Recent Developments
In January 2020
The smart-hearing company, namely Nuheara, has launched the IQbuds2 MAX earbuds. This product consists of many unique features like the cancellation of active noise, personalization, and soundscape, which is growing its demand among the consumers. Moreover, this product produces fine tunes that are helpful for the environment.
In May 2020
The prominent player Garmin has launched its quatix 6X Solar, which is a new feature in the marine GPS. This product has a unique feature that it uses solar energy rather than using electric charging with an aim to expand its battery life.
Report Overview
The global wearable display device materials market research report consists of the following aspects:
This wearable display device research reports tell about the growth opportunities and drivers in the global market along with the impact of COVID 19 on the global market demand. The future expected growth rate and value are also estimated and mentioned.
Research Methodology
The research methodology has both primary and secondary data and top-down and bottom-up approaches to estimate the size of the market along with dependent submarkets. Key players in the wearable display device industry are identified through secondary research. It includes company press releases, annual reports, investor presentations of companies, and many others. All this study is verified using primary research and analyzed to get quantitative and qualitative data.
Users
Wearable display device material manufacturers, retailers, distributors, wholesalers, government agencies, associations, industrial bodies, investors, traders, and many others.
| Report Attribute/Metric | Details |
| Market Size | · 2027: USD 4,157.2 Million · 2030: Significant Value |
| CAGR | 2027: 13.05% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022 to 2027 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Substrate, Adhesives, Coatings and End-Use |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | BASF SE (Germany), DowDuPont (U.S.), Wacker Chemie AG (Germany), Arkema SA (France), 3M (U.S.), Eastman Chemical Company (U.S.), Solvay (Belgium), Covestro AG (Germany), Henkel AG and Co. KGaA (Germany), Master Bond Inc. (U.S.) |
| Key Market Opportunities | The opportunity in the development of hybrid and multi-function wearable devices that will integrate all the functions in one compact device. |
| Key Market Drivers | Owing to the increase in the phenomenon of the Internet Of Things (the IoT), and its interconnected capacity with various devices like computers, laptops, tablets, smartphones, etc |
Wearable Display Device Materials Market Highlights:
Frequently Asked Questions (FAQ) :
The most prominent market player in the wearable display market in the global market are Master Bond Inc. (U.S.), Covestro AG (Germany), Solvay (Belgium), 3M (U.S.), Arkema SA (France), Wacker Chemie AG (Germany), DowDuPont (U.S.), BASF SE (Germany), and many others.
The wearable display device materials market in the global market is expected to show a high CAGR of 13.05% and is expected to reach USD 4,157.2 million during the forecasted period 2021-2027
The largest share in the wearable display device materials market in the global market is held by the Asia-Pacific region as it is expected to show a high CAGR of 14.5% owing to an increase in the advancement in technology followed by North America.
Team Lead - Research Anshula mandaokar holds an academic degree in chemical engineering and has been contributing to the field for more than 5 years. she has expertise in market research and business consulting and serves as a team lead for a reputed market research firm under the chemicals and materials domain spectrum. she has worked on multiple projects, generating explicit results in a quick turnaround time. her understanding of data interpretation justifies her role as a leader.
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