Quantum Dot Market by Material (Cadmium-based Quantum Dots, Cadmium-free Quantum Dots), Product (Displays, Lasers, Solar Cells/Modules, Medical Devices, Photodetectors/Sensors, LED Products), Display, Vertical and Region - Global Forecast to 2029
[250 Pages Report] The quantum dot market is estimated to be worth USD 10.6 billion in 2024 and is projected to reach USD 23.9 billion by 2029, at a CAGR of 17.7% during the forecast period. The accelerating demand for quantum dot-based displays is one of the major drivers of quantum dot market. Furthermore, the growing adoption of quantum dots in healthcare sector provides growth opportunities in the quantum dot market.
Quantum Dot Market Forecast to 2029
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Quantum Dot Market Dynamics
Driver: Accelerating demand for quantum dot based displays
There is a growing deployment of quantum dots in display applications which can be employed in various methods, such as Quantum Dot Enhancement Film (QDEF) or Quantum Dot Color Filters (QDCFs). These methods aim to enhance the color gamut and performance. Quantum dots are nanoparticle entities that enhance the color spectrum, high quality of LCDs, while maintaining the same cost structures. Quantum dots are embedded in resin within barrier layers to create a film (QDEF), which deliver augmented color performance, and advancing quantum dot color filters (QDCFs) for superior color accuracy and display performance. Integrating quantum dots in display applications can provide precise color reproduction, heightened peak brightness, improved energy efficiency, extended lifespan, and reduced burn-in risks, that enhance the visual experiences across diverse display devices. Therefore, accelerating demand for quantum dot based displays drives the growth of the quantum dot market.
Restraint: Presence of alternative display technologies
Alternative display technologies like OLED and LCDs can impede the market growth of quantum dots, even though it provides benefits such as enhanced color resolution, purity, and energy efficiency. OLED displays deliver enhanced picture quality, by offering superior color reproduction and contrast due to each pixel serving as its light source, which leads to true black levels, improved contrast, and wide viewing angles. Additionally, OLED screens are thinner and consume less power which makes them highly preferable in mobile devices. Therefore, presence of alternative display technologies has the potential to hinder the market growth of quantum dots.
Opportunity: Growing adoption of quantum dots in healthcare sector
The utilization of quantum dots for biological and medical imaging is driven by their exceptional properties that make them highly suitable for such applications. Quantum dots offer distinct advantages over traditional dyes, such as high brightness and stability against photobleaching, along with intermittent fluorescence signals, which facilitate precise visualization of cellular components and tissues. Moreover, the tunable emission spectra of quantum dots that are achieved through manipulation of particle size and core composition, enables diverse array of colors and optical characteristics, thereby enhancing imaging capabilities within biological systems. Therefore, the distinctive properties of quantum dot such as high brightness, tunable emission spectra, cellular uptake, and in vivo imaging capabilities, underpin their increasing use for advanced imaging technologies in biomedicine, which is expected to provide opportunities for the market players that manufacture quantum dots.
Challenge: Existence of environmental regulations for quantum dots
Government regulations pertaining to quantum dot materials present a notable obstacle to the expansion of the quantum dot market. The European Union's Regulatory of Hazardous Substances (RoHS) directive imposes restrictions on specific hazardous substances in electronic equipment which impacts the utilization of quantum dots in display applications. Therefore, in order to align with such regulations quantum dot players are getting involved in the development of cadmium-free quantum dots. Previously, cadmium-based quantum dots were prevalent in QD displays; however, due to environmental concerns, the industry is now concentrating on cadmium-free alternatives. As quantum dots are highly adopted in display applications, the manufacturers are actively investing in research and development efforts aimed at creating cadmium-free quantum dots and satisfy the increasing demand for eco-friendly display technologies which thereby might restrain the market growth.
Quantum Dot Market Ecosystem
The prominent players in the quantum dot market are AUO Corporation (Taiwan), BOE Technology Group Co., Ltd. (China), SAMSUNG DISPLAY (South Korea), LG DISPLAY CO., LTD. (South Korea), and TCL China Star Optoelectronics Technology Co., Ltd. (China). These companies perform organic and inorganic growth strategies to expand themselves globally by providing advanced quantum dot devices.
Cadmium-free quantum dots is expected to register highest CAGR in the quantum dot market during forecast period
The cadmium-free quantum dot market is anticipated to project the highest CAGR during the forecast period. Cadmium poses health risks which includes renal failure and skeletal lesions, necessitating careful control of cadmium levels in quantum dots to meet regulatory standards. Historically, cadmium had few substitutes, but recent developments have introduced materials like indium phosphide and indium arsenide as viable alternatives to cadmium. Therefore, cadmium-free quantum dots is expected to have the highest CAGR in the quantum dot market during the forecast period.
Quantum dot displays market is expected to have the largest market size in the quantum dot market during forecast period
In quantum dot LED (QLED) displays, LEDs serve as the light source, particularly for backlighting in additional display applications. QLED displays offer a narrow light spectrum and high stability which leads to cost savings, making them highly favored by manufacturers. Quantum dots can be integrated into various applications such as flat-panel TVs, digital cameras, gaming monitors, and personal digital assistant (PDA) devices. Therefore, quantum dot displays market is expected to have the largest market size in the quantum dot market during the forecast period
Asia Pacific is expected to have the largest market size in quantum dot market during the forecast period
In recent years, Asia Pacific has witnessed significant industrial and technological advancements. The region benefits from the presence of established display manufacturers and the substantial focus of market players and research institutes on quantum dot technology R&D. This market is predominantly driven by China, Japan, South Korea, India, and the Rest of Asia Pacific, with market players expanding their footprint in emerging economies like India, China, and other Southeast Asian nations. Furthermore, China holds the largest share in the quantum dot market. Therefore, Asia Pacific is expected to hold the largest market size during the forecast period.
Quantum Dot Market by Region
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Key Market Players
The major players in the quantum dot companies include AUO Corporation (Taiwan), BOE Technology Group Co., Ltd. (China), SAMSUNG DISPLAY (South Korea), LG DISPLAY CO., LTD. (South Korea), and TCL China Star Optoelectronics Technology Co., Ltd. (China). These companies have used both organic and inorganic growth strategies such as product launches, agreements, collaborations and acquisitions to strengthen their position in the market.
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Report Metric |
Details |
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Market size available for years |
2020–2029 |
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Base year considered |
2023 |
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Forecast period |
2024–2029 |
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Forecast units |
Value (USD Million/Billion), Volume (Million Units) |
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Segments covered |
By Material, Product, Display, Vertical, and Region |
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Geographies covered |
North America, Europe, Asia Pacific, and Rest of the World (RoW) |
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Companies covered |
The major players in the quantum dot market are AUO Corporation (Taiwan), BOE Technology Group Co., Ltd. (China), SAMSUNG DISPLAY (South Korea), LG DISPLAY CO., LTD. (South Korea), TCL China Star Optoelectronics Technology Co., Ltd. (China), SHOEI CHEMICAL, INC. (Japan), American Elements. (US), HANSOLCHEMICAL (South Korea), Nanoco Group plc (UK), Avantama AG (Switzerland), NNCrystal US Corporation (US), Ocean Nanotech (US), Quantum Materials Corp (US), Quantum Solutions. (UK), and Merck KGaA (Germany) |
Quantum Dot Market Highlights
The study segments the quantum dot market based on material, display, product, vertical, and region at the regional and global level.
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Segment |
Subsegment |
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By Material |
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By Product |
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By Display |
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By Vertical |
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By Region |
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Recent Developments
- In April 2024, SAMSUNG DISPLAY launched its new QD-OLED reference monitors in collaboration with renowned broadcast monitor brands SmallHD and Flanders Scientific Inc. (FSI). These monitors are used on film and broadcast productions to check the quality of footage or to calibrate color tones and images to match content concepts. These monitors are essential tools for ensuring the high quality of captured footage, enhanced accuracy in color reproduction, black depth and luminance.
- In September 2023, SHOEI CHEMICAL, INC. has completed a definitive asset purchase agreement with Nanosys, Inc. to acquire all the assets associated with the Nanosys quantum dot business. Furthermore, Nanosys’ sales and marketing teams, research and development team, and its Silicon Valley, California laboratories are a part of SHOEI.
- In May 2023, BOE Technology Group Co., Ltd. announced that it has successfully developed a 4.7-inch 650 PPI Active-Matrix Quantum Dot Light-emitting Diode (AMOLED) display prototype based on direct photolithography technology of quantum dots in QLED (DP-QLED)
- In May 2023, Nanoco Technologies Limited (Nanoco), a wholly owned subsidiary of Nanoco Group plc and Guangdong Poly Optoelectronics Co., Ltd. (POE) formed a licensing and collaboration agreement. Under this agreement, Nanoco and POE partnered on the development of cadmium-free quantum dot products for various applications which includes advanced displays and lighting films. This collaboration provided Nanoco with the opportunity to supply its CFQD quantum dots in the Chinese market.
- In December 2021, LG DISPLAY CO., LTD. launched its OLED TV technology ‘OLED EX’. This display uses LG Display’s deuterium and personalized algorithm-based ‘EX Technology,’ which helps to boost the overall picture quality by enhancing brightness up to 30 percent as compared to conventional OLED displays.
Frequently Asked Questions (FAQs):
What is the current size of the global quantum dot market?
The quantum dot market is estimated to be worth USD 10.6 billion in 2024 and is projected to reach USD 23.9 billion by 2029, at a CAGR of 17.7% during the forecast period. The accelerating demand for quantum dot-based displays is one of the major drivers of quantum dot market. Furthermore, the growing adoption of quantum dots in healthcare sector provides growth opportunities in the quantum dot market.
Who are the winners in the global quantum dot market?
Companies such as AUO Corporation (Taiwan), BOE Technology Group Co., Ltd. (China), SAMSUNG DISPLAY (South Korea), LG DISPLAY CO., LTD. (South Korea), and TCL China Star Optoelectronics Technology Co., Ltd. (China), fall under the winners category.
Which region is expected to hold the highest market share?
Asia Pacific is expected to have the highest market share during forecast period. This is attributed to the significant increase in the industrial and technological advancements, presence of established display manufacturers and the substantial focus of market players and research institutes on quantum dot technology R&D
What are the major drivers and opportunities related to the quantum dot market?
The accelerating demand for quantum dot-based displays and the growing adoption of quantum dots in healthcare sector are some of the major drivers and opportunities for quantum dot market.
What are the major strategies adopted by market players?
The key players have adopted product launches, agreements, collaborations and acquisitions to strengthen their position for the quantum dot market.
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The research study involved 4 major activities in estimating the size of the quantum dot market. Exhaustive secondary research has been done to collect important information about the market and peer markets. The validation of these findings, assumptions, and sizing with the help of primary research with industry experts across the supply chain has been the next step. Both top-down and bottom-up approaches have been used to estimate the market size. Post which the market breakdown and data triangulation have been adopted to estimate the market sizes of segments and sub-segments.
Secondary Research
In the secondary research process, sources such as annual reports, press releases, and investor presentations of companies, white papers, and articles by recognized authors were referred to. Secondary research was mainly done to obtain key information about the industry’s supply chain, the value chain of the market, the pool of key market players, market segmentation according to industry trends, region, and developments from both, market and technology perspectives.
Primary Research
In primary research, various primary sources from the supply and demand sides were interviewed to obtain qualitative and quantitative insights required for this report. Primary sources from the supply side included experts such as CEOs, vice presidents, marketing directors, application developers, technology & innovation directors, application users, and related executives from multiple key companies and organizations operating in the quantum dot market ecosystem.
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Market Size Estimation
In the market engineering process, the top-down and bottom-up approaches were used along with multiple data triangulation methods to estimate and validate the size of the quantum dot market and other dependent submarkets. Key market players were identified through secondary research, and their market share in the targeted regions was determined with the help of primary and secondary research. This entire research methodology included the study of annual and financial presentations of the top market players, as well as interviews with experts for key insights (quantitative and qualitative). The percentage share, splits, and breakdowns were determined using secondary sources and verified through primary research. All the possible parameters that affect the quantum dot market were verified in detail with the help of primary sources and analyzed to obtain quantitative and qualitative data. This data was supplemented with detailed inputs and analysis from MarketsandMarkets and presented in the report.
In the market engineering process, both top-down and bottom-up approaches have been used along with data triangulation methods to estimate and validate the size of the quantum dot market and other dependent submarkets. The research methodology used to estimate the market sizes includes the following:
- Analyzing the size of the global quantum dot market by identifying segment and subsegment revenue related to the market
- Identifying the total number of quantum dot displays shipped globally, which includes various types of displays
- Estimating the ASP of quantum dot displays
- Estimating the size of the quantum dot display market (quantum dot display shipment * ASP of quantum dot displays)
- Estimating the market size of other quantum dot products
- Estimating the quantum dot market size (summation of quantum dot display market and market of other quantum dot products)
- Identifying the upcoming projects related to quantum dots by various companies in different regions and forecasting the market size based on these developments and other important parameters.
Market Size Estimation Methodology-Bottom-up Approach
Market Size Estimation Methodology-Top-Down Approach
Data Triangulation
After arriving at the overall market size, the overall quantum dot market was divided into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures were used, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with data triangulation and market breakdown, the market size was validated by the top-down and bottom-up approaches.
Market Definition
Quantum dots (QDs) are semiconductor nanocrystals ranging in diameter from 2 to 10 nanometers (nm). When exposed to UV light, they emit specific colors determined by their nanoparticle size. Quantum dots are poised to transform display technologies by offering advantages such as high brightness, reliability, cost-effectiveness, and low power consumption. The market for quantum dots is expanding due to rising demand in display devices, their superiority over conventional displays, and their versatile applications across various industries. Manufacturers of quantum dot and related products are presented with numerous growth opportunities, driven by increased adoption in LEDs, escalating demand for large and high-resolution displays, and the expanding utilization of quantum dots in sectors like defense, aerospace, and agriculture.
Stakeholders
- Raw material and manufacturing equipment suppliers
- Integrated device manufacturers (IDMs)
- Component manufacturers
- Original device manufacturers (ODMs)
- Original equipment manufacturers (OEMs)
- ODM and OEM technology solution providers
- Assembly, testing, and packaging vendors
- Distributors and traders
- Research organizations
- Organizations, forums, alliances, and associations
- Governments, Financial Institutions, and Regulatory Bodies
The main objectives of this study are as follows:
- To define, analyze and forecast the quantum dot market size, by material, product, display, and vertical in terms of value
- To define, analyze and forecast the quantum dot market size, in terms of volume.
- To forecast the market size for various segments with respect to four main regions, namely, North America, Europe, Asia Pacific and Rest of the World (RoW)
- To provide detailed information regarding the major drivers, restraints, opportunities, and challenges influencing the growth of the quantum dot market
- To study the complete supply chain and related industry segments for the quantum dot market
- To strategically analyze the micromarkets1 with respect to individual growth trends, prospects, and contributions to the total market
- To analyze the value chain, market ecosystem; trends/disruptions impacting customer’s business; technology analysis; pricing analysis; Porter’s five forces model; key stakeholders & buying criteria; case study analysis; trade analysis; patent analysis; key conferences & events, 2024–2025; regulations related to the quantum dot market; and investment and funding scenario.
- To analyze opportunities in the market for various stakeholders by identifying the high-growth segments of the market.
- To strategically profile the key players and comprehensively analyze their market position in terms of ranking, core competencies2, company valuation and financial metrics and product/brand comparison; along with detailing the competitive landscape for the market leaders.
- To analyze competitive developments such as product launches, agreements, collaborations and acquisitions and research and development (R&D) activities carried out by players in the quantum dot market.
Customizations Options:
With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:
Product Analysis
- Detailed analysis of quantum dot products for consumer, commercial, healthcare, defense, telecommunications and other verticals
Company Information
- Detailed analysis and profiling of additional market players (up to 5)
Geographic Information
- Detailed analysis of additional countries (up to 5)
Generating Response ...
Growth opportunities and latent adjacency in Quantum Dot Market
I am interested in all applications, but especially the market for Quantum Dots as down conversion phosphors, bio-labeling, and solar cells. I am interested in getting some industry facts to put in my technical presentations which can perhaps showcase the exact demand of the technology pertaining to the verticals associated. Is this information covered in your report which would be helpful for me to get an overall idea of the products and their use-cases?
I would be interested to understand the current size of the market segments for Quantum Dots and its expected growth. I would also like to understand what are the competing technologies, within and outside the Quantum Dots area. The information in the report should be heplful for me to work on the presentations related to the Quantum Dots. Will this suffice to my requirements put in?
I would like to know the different applications for the materials that are being used in Quantum Dots, especially Cadmium Selenide, Cadmium Telluride, Cadmium Sulfide, and Indium Arsenide. Does your report cover the market sizing for these materials too and its use-cases?