Display Material Market

Display Material Companies - Corning (US) and Nitto Denko (Japan) are the Key Players

The display material market was valued at USD 28.87 Billion in 2017 and is expected to reach USD 34.60 Billion by 2023, at a CAGR of 3.1% between 2017 and 2023. Construction and upgrade of display panel manufacturing plants in APAC are expected to continue to boost the display material market significantly in the coming years. Also, the ever-increasing average screen size and resolution of television units, and increased adoption of OLED displays in various applications drive the market significantly. There have been numerous agreements among industry players to develop different display materials, components, and processes. Companies in the market also undertake the strategy of product launch and development to advance in the market. The companies have collaborated with material customers to maintain and increase their share in the market. Some companies have undertaken mergers and acquisitions to sustain in the market. Numerous companies have expanded their operations in more economical locations to improve their revenues.

Major Display Material Companies Include:

  • Samsung SDI (South Korea),
  • LG Chem (South Korea),
  • Sumitomo Chemical (Japan),
  • Corning (US),
  • Nitto Denko (Japan),
  • Universal Display Corporation (US),
  • Merck (Germany),
  • Asahi Glass (Japan),
  • Idemitsu Kosan (Japan),
  • DowDuPont (US),
  • Toray (Japan),
  • DIC Corporation (Japan),
  • Hodogaya Chemical (Japan), and
  • JSR Corporation (Japan).

Corning (US) ranked first in the display material market. The company is the largest worldwide producer of glass substrates for displays. The company has retained its competitive advantages by investing in introducing new products, ensuring a consistent and reliable supply, and continually improving its proprietary fusion manufacturing process.  This allows the company to deliver glass that is larger, thinner, and lighter, with exceptional surface quality and without heavy metals. In May 2017, the company announced the selection of its Lotus NXT Glass substrate for Samsung Display's polyimide (PI) LTPS OLED display panels. The company has made significant investments in R&D and has the financial strength to back its products in the market. It has global presence, with manufacturing plants in 17 countries. Its products are specifically targeted for LCD and OLED display panels.

Nitto Denko (Japan) ranked second in the display material market. It generated majority of its segment revenue from LCD polarizers. The company has good presence in APAC, and it draws the majority of its revenues from this region. The company has also focused on providing materials for flexible display panels, sighting high growth scope in this segment. The company has maintained its leadership in the LCD material market for polarizers. Ultra-thin polarizers offered by the company have potential to make the displays more flexible and usable for wearable devices. In June 2016, the company announced investments in a manufacturing facility in China for ultra-thin polarizer.  The company is also focused on OLED displays and has been involved in R&D of highly functional materials for OLEDs.

Related Reports:

Display Material Market by Technology (LCD, OLED), Component & Material (Substrate, Polarizer, Color Filter, Liquid Crystals, BLU, Emitter & Organic Layer, Encapsulation), Panel Type, Application (Smartphone, Television), Region - Global Forecast to 2023

Mr. Rohan
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Display Material Market Size,  Share & Growth Report
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SE 5915
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