According to a new research report published by Allied Market Research (Portland, OR), the global market for quantum dots (QDs) reached $316 million in 2013 and is expected to grow to $5.04 billion by 2020 at a compound annual growth rate (CAGR) of 29.9% in the period between 2014 and 2020.
However, the volume consumption will grow at a much faster rate of 116.5% during the same period, to reach 72 tons in 2020 — the result of a drop in QD price over time, attributable to the refinement of mass-production processes and high volume demand.
The report is called “Quantum Dot (QD) Market–Global Analysis, Growth, Trends, Opportunities, Size, Share and Forecast through 2020.”
Key drivers for growth of the QD market are efficient conversion of solar energy into power, the rising use of display devices, and utility in multiple applications, according to the report. Display and lighting-equipment manufacturers are eager to bring out QD-based products, which are currently the prime driver of QD market growth.
QD light emitters will be big
As for end-use categories, QD light-emitting devices will have the highest CAGR of 39% between now and 2020, says the report; other categories with lesser CAGRs include QD displays, lasers, chips, sensors, medical devices, and photovoltaics.
And as for materials, indium arsenide (InAs) QDs will have a leading market share of $1.18 billion in 2020, with cadmium selenide (CdSe), cadmium sulfide (CdS), cadmium telluride (CdTe), and silicon (Si) all runners-up.
Optoelectronics will lead revenue share at $1.77 billion in 2020, with other contenders being quantum optics, QD-based security and surveillance, renewable energy, and biological/healthcare imaging.
“The QD display market is set to grow exponentially as many companies such as Sony Corp., LG Display, etc. are getting into alliances with QD technology providers to commercialize QD displays, especially TV sets,” note analysts Shreyas Naidu and Priyanka Gotsurve. “QD technology enhances the color display by at least 50% and it is also an energy efficient technology.”
Some factors, such as high cost of technology and slow adoption due to extended research, are currently slowing market growth, although the growth of mass manufacturing and bulk purchasing will quickly negate the cost constraints. Further penetration of the technology in newer applications such as security and defense, food, and packaging will provide the essential future growth thrust to the market. Future use of newer and more cost effective materials will give QDs an added competitive edge over other materials such as organic dyes.
Among geographic markets, North America has the highest revenue share due to early adoption. The region is expected to grow consistently and attain revenue of $1.92 billion by 2020. However, the Asia-Pacific market is expected to have the highest CAGR of 30.4% for the 2013-2020 analysis period.
Quantum dot is small semiconductor in crystal format that is used in business verticals that use display and monitor devices and many other types of equipment. Global Nano-optimized market is expected to reach 3 trillion by 2015. Increasing demand for optimized devices with better performance and resolution quality is a major driving force to adopt quantum dot technology into various application areas. Brightness of quantum dots is 10-20 times higher than organic dyes. As the semiconductor material shrinks to quantum-dot level, it helps in altering the light wavelength material and covert material from insulator to conductor.
Quantum dot is semiconductor that can be used for different devices instead of searching for new semiconductor with special chemical composition. Major application market for quantum dot is Display and Monitor as quantum dots are used in LED. However, the process of manufacturing Blue quantum dots in size that is smaller than average is very difficult over other colors of quantum dots, this is acting as major limiting factor to adopt quantum dots in display and monitor products. Despite of few disadvantages, quantum dots are going to capture attention by major players, but it is very difficult for manufacturers to analyze potential application market of quantum dots. This report covers potential application segment and revenue generated by each segment. The global QD market is expected to grow from $316 million in 2013 to $5,040 million ($5.04 Billion) in 2020 at a CAGR of 29.9% for the analysis period (2013-2020).
Global QD market by application
The QD market is segmented into various applications such as biological imaging, optoelectronics, quantum optics, security & surveillance, and renewable energy. The biological imaging market is the most mature market in terms of revenue and it is expected to have consistent growth in the market. However, the optoelectronics application is expected to have the highest growth potential for the analysis period 2013 and 2020. The renewable energy application is the next fastest growing application in the QD market.
Global QD market by devices
The quantum dot based devices are the end-users of the technology as these particles are used to develop devices for various applications. The end-user segment consists of QD Medical Devices, QD LCD and LED Display Devices, QD Laser Devices, QD Photovoltaic Devices, QD Chip, QD Sensors, and QD LED Lighting Devices. The QD based medical devices currently have the highest market share as medical scientists have been engaged in developing these devices for more than two decades. However, the display devices are expected to have the highest growth rate in the QD market, as the technology enhances the color quality of display devices and saves energy. Photovoltaic devices are expected to have the second highest growth rate after display devices.
Global QD market by technology
QDs are produced by using various technologies such as colloidal synthesis, fabrication, viral assembly, electrochemical assembly, bulk manufacturing and cadmium free QD technology. Colloidal synthesis is the most popular technology in the market currently, as it has the potential to produce QDs at a large scale. However, it is expected that bulk manufacturing would have the highest revenue share with the highest growth rate due to its ability of large scale QD production with better quality. The cadmium free QD technology is expected to have the second highest growth, as it would be used in consumer applications, since cadmium has restrictions for use in these applications.
Global QD market by material
QDs are produced by processing some materials such as Cadmium Selenide, Cadmium Sulphide, Cadmium Telluride, Indium Arsenide, and Silicon. Cadmium Selenide was the most commonly used material to produce QDs in 2013 followed by Cadmium Sulfide, as these were the first materials that were ever used in the process. However, Indium Arsenide would have the highest growth rate for the analysis period 2013-2020 along with the highest revenue by 2020. The silicon material would have the second highest growth rate as it is observed that the light emission capacity of silicon is in excess of 70% and can be used in electronic devices to increase efficiency.
Global QD market by geography
The QD market is geographically segmented into North America, Europe, Asia-Pacific and Rest of the World (RoW). Currently, North America has the highest revenue share in the market followed by Europe due to early adoption of the QD technology. However, for the analysis period of 2012-2020, it is expected that the Asia-Pacific region would have the highest growth rate followed by the RoW region.
Global QD market competitive analysis
Key Companies profiles included in this report are Sony Corporation; Altair Nanotechnology,Inc; Evident Technologies, LG Display, Life Technologies Corporation, Microvision Inc; Quantum Material Corporation; Samsung Electronics Co. Ltd, Nexxus Lighting Microvision Inc. The companies have opted for partnerships and collaborations as a key strategy so that they can share the expertise to develop better QD based products and solutions, as it is an evolving technology.
Global QD market high level analysis
The report analyses the potency of suppliers and buyers along with threats of new entrants and substitute products based on the Porter’s five force analysis. The report also analyses the impact of the drivers, restraints and opportunities of the market as per the current market trends and projected future scenario. The key investment pockets are analyzed in the report based on the growth estimations of the application segment.
Reason for doing the study
The commercial prospects of the market are inclined towards growth due to the efficiency of QDs to produce energy efficient and flexible products and solutions. The market is currently at a pre-commercialized stage and the report covers the research efforts undertaken to commercialize the market. The market estimation are made on the basis of some assumptions of the past years volume production and expected production in the future and projected price fluctuations. The report gives a deep dive-analysis on applications in various sectors of the market to give market players an understanding about the important growth potential to maximize profits. The report also studies the impact and penetration of the QD technology in various geographic regions so that companies can understand end-user preferences to gain competitive advantage.
- This report analyses the factors that are driving and limiting the growth of the market
- Market estimations are done according to the market trends for the period 2013-2020
- Analysis of key strategies adopted by market players through their press releases would assist in providing in-depth understanding of the market intelligence
- Deep-dive analysis of various geographies would give an understanding of the trends in various regions so that companies can make region specific plans
- In-depth analysis of segments such as applications, end-users (devices), technologies and materials provide insights that would allow companies to gain competitive edge
For more info, see http://www.alliedmarketresearch.com/quantum-dots-market