Display Material Industry Driven by Increasing Demands of Consumer Electronics and Automotive Industry

Published Date : 21 Apr 2023

The display material industry growth is driven by the increasing penetration of consumer electronics such as laptops, smartphones and others, the growing automotive industry, and innovation in display technologies.

Cell phones, digital cameras, media players, and televisions are the primary displays for display materials. Film, glass, backlights, integrated circuits, and some pliable organic materials are among the essential display components. Displays are made using a variety of technologies, including OLED, LCD, IPS, AMOLED, and others. Many different materials and techniques enable the development of electrical display technology. Because they are inexpensive, have excellent aesthetic characteristics, and are easy to manufacture, plastics are perfect for point-of-purchase displays. Plastic comes in a broad variety and can be easily customized with painting and printing.

It is strong and lightweight. Customers have a rich purchasing experience when using showcases made of plastics like high-impact polystyrene, acrylic, polycarbonate, and expanded PVC. These materials can be created using simple woodworking instruments and come in a variety of colors and textures. Using solvent cement blocks and adhesives, a variety of plastic sheet materials can be quickly glued together after being made on strip heaters and thermoformed. Beautiful backlit displays can be made using PETG, polycarbonate, and special acrylic materials that are intended to transmit and diffuse LED light.

Display Material Industry Report Scope:

Report Coverage Details
Base Year 2022
Historical Period 2018 To 2021
Forecast Period 2023 To 2032
Largest Market Asia Pacific
Regions Covered North America, Europe, Asia-Pacific, Latin America and Middle East & Africa

Report Highlights:

  • By technology, the OLED segment is expected to dominate the industry during the forecast period. By sandwiching several organic thin films between two conductors, OLED screens are created. An intense light is produced when an electrical current is introduced. a straightforward layout that has many benefits over other display technologies. In particular, "real" blacks (that cannot be achieved in LCDs due to the backlighting). Additionally, the straightforward OLED design makes it comparatively simple to manufacture flexible and transparent displays.

Regional Snapshot:

The Asia Pacific is expected to capture a significant industry share over the forecast period. The regional growth is attributed to the growing consumer electronics industry, especially in the countries like India, China, Japan, and others. These countries in the region have a significant rise in electronic devices which includes Smartphones, SmartTVs, Laptops, Wearables, Hearables and Others. 

The major products that are expected to drive growth in India's electronics manufacturing are electronic components, LED illumination, strategic electronics, printed circuit board assembly (PCBA), consumer electronics (TV and audio), industrial electronics, car electronics, consumer electronics (mobile phones), IT hardware (laptops, tablets), consumer electronics (TV and audio), and telecom equipment. From its present level of US$ 30 billion, mobile manufacturing is predicted to reach US$ 100 billion in annual output development or about 40% of the industry's growth. Similarly, according to a study by App Annie, in terms of the average user's smartphone usage time, India came in third place worldwide (4.6 hours per day). Thus, the increasing demand for electronic devices in the region is expected to flourish the industry expansion over the forecast period.

North America is expected to grow significantly over the forecast period. The growth in the region is attributed to the developed healthcare infrastructure. Numerous types of medical devices are used to display materials including imaging devices, screen monitors and others. Moreover, the growing healthcare spending is one of the important factors that propel the industry growth. For instance, California spent the most on personal health care in the country in 2020 ($410.9 billion), accounting for 12.2 percent of all personal health care expenditures in the country. California continually had the highest total personal healthcare spending and the largest total population in the country, according to historical state rankings through the year 2020. Among the states with the highest overall personal health care spending were other big states like New York, Texas, Florida, and Pennsylvania. Thus, the robust healthcare infrastructure along with increasing per capita spending is expected to fuel the industry expansion.

Market Dynamics:


Increasing demand for AMOLED display in electronic devices

The industry is being driven by a growing number of OLED displays in various products due to their cost- and energy-effectiveness. Demand for this industry is also being driven by the introduction of AMOLED displays in products like smartphones, smartwatches, and others. The industry has grown favorably as a result of companies like Xiaomi, Samsung, and others rapidly adopting AMOLED display technologies. 

Additionally, the demand for AMOLED displays is expanding due to the increasing usage of high-end devices that can offer durable, flexible, and high-resolution displays due to the rising disposable income of the population in established and emerging countries. For instance, to improve the aesthetic appeal of its flagship devices, Samsung released the Z Flip 3 and Z Fold 3 with AMOLED displays. Thus, this is expected to drive the growth of the industry during the forecast period.


Fluctuation in the price of raw materials

The fluctuation in the price of raw materials which are used in making displays is the major restraining factor for the growth of the industry. These materials included polymers like polypropylene, PVC and others and these are the byproduct of crude oil. For instance, according to the US Energy Information Administration, the price of Brent crude oil is predicted to increase by 48%, which will have a major impact on the price of raw materials such as PP, PVC and Others. Thus, the volatility in the price of crude oil majorly hinders the industry expansion over the forecast period. 


Growing automotive industry

During the forecast period, the industry is anticipated to benefit significantly from the expanding automotive sector. For instance, the automotive industry produced a total of 22,933,230 vehicles between April 2021 and March 2022, including passenger cars, commercial trucks, three-wheelers, two-wheelers, and quadricycles, as opposed to 22,655,609 units between April 2020 and March 2021, according to the Society of Indian Automobile Manufacturers. Additionally, over the anticipated timeframe, consumer desire for cutting-edge automotive technologies will further fuel industry growth.

Recent Developments: 

  • In February 2022, on March 23 and 24, in Munich, Henkel Adhesive Technologies will exhibit a variety of new functional materials for printed electronics at the LOPEC trade exhibition. The business unit will highlight its solution portfolio for a wide range of applications across multiple industries, such as industrial and automotive surfaces, antennas, healthcare, and hygiene, underneath the overarching subject of "SMART Surfaces." Henkel Adhesive Technologies will have a live application demonstration at booth 508 in hall B0 in addition to new material developments and a range of demo parts created in collaboration with its partners.
  • In September 2022, the acquisition of the US-based advanced materials startup NBD Nanotechnologies Inc. by Henkel has been completed. Henkel intends to improve the position of its Adhesive Technologies business unit in the field of functional coatings with this acquisition.

Major Key Players:

  • AGC Inc.
  • DIC Corporation
  • Corning Incorporated
  • DuPont and Dow
  • Idemitsu Kosan Co, Ltd
  • Hodogaya Chemical Co., Ltd
  • JSR Corporation
  • LG Chem

Market Segmentation:

By Technology

  • OLED
  • LCD

By Component

  • Substrate
  • Polarizer
  • Liquid Crystals
  • Colour Filter Layer
  • Backlighting Unit
  • Others

By Application

  • Smartphone & Tablet
  • Television
  • Smart Wearables
  • Signage/Large Format Display

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