Quantum dots (QD) are a form of nanotechnology. They are very small particles or crystals of a semiconducting material in the range of 2-10 nanometers (10-50 atoms) diameter. They emit light at very specific frequencies depending on their size. They are used in applications such as LCD screens.
According to a new research report published by Allied Market Research, 'Quantum Dot (QD) Market - Global Analysis, Growth, Trends, Opportunities, Size, Share and Forecast through 2020', the global quantum dots (QD) market accrued revenue of $316 million in 2013 and it is expected to grow to $5,040 million by 2020 at a CAGR of 29.9% during 2014-2020.
However, the volume consumption will grow at a much faster rate of 116.5% during the same period to reach 72 ton in 2020. The high volume-value growth gap will be the result of faster price erosion during the analysis period. The decline in prices can be attributed to the refinement of manufacturing technologies and mass production processes and high volume demand.
The key drivers for the growth of the QD market are the efficient conversion of solar energy into power, rising use volume driven display devices and utility in multiple applications. Additionally, this technology is more efficient than conventional technologies. Display and lighting equipment manufacturers are keen to bring out QD based products, and currently this is the prime factor for quantum dot market growth.
"The QD display market is set to grow exponentially as many companies such as Sony Corp., LG Display etc. are getting into alliance with QD technology providers to commercialize QD displays, especially TV sets," note analysts Shreyas Naidu and Priyanka Gotsurve. "The QD technology enhances the color display by at least 50% and it is also an energy efficient technology," analysts added.
However, some factors, such as the high cost of technology and slow adoption due to extended research periods are currently serving as the restraints for the market growth. Although, mass manufacturing and bulk purchasing will quickly negate the cost constraints. The further penetration of the technology in newer applications such as security and defense, food, and packaging will provide essential future growth to the market. Furthermore, the future use of newer and cost effective materials will give the QD market a competitive edge over other competitive 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 a revenue of $1.92 billion by 2020. However, Asia-Pacific is expected to have the highest CAGR of 30.4% for the analysis period 2013-2020.
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