Quantum Dots Market to capture around 61.7% CAGR during the forecast period 2019 - 2024 along with the LED Penetration to Enhance the Quantum Dots Industry Growth
— Market Overview
The quantum dots market is expected to register a CAGR of over 61.7% during the forecast period (2019 - 2024). Cadmium-based quantum dots (QDs) are in trends which have the advantage of broad UV excitation, narrow emission, bright photoluminescence (PL), and high photostability, which make them fine applications in bio-imaging, electroluminescence (EL) and photovoltaic (PV) devices, catalytic hydrogen production, sensors, etc.
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- Demand of Quantum dots in high quality display devices is a key driver for the market. A widespread practical application is using quantum dot enhancement film (QDEF) layer to improve the LED backlighting in LCD TV's. By using quantum dots one gets rid of all the in-between-colors. By generating these pure colors a much wider color gamut, as well as enhanced energy efficiency of an LCD TV, is achieved.
- Demand for energy efficient solutions is driving the market. Nanomaterial-based white-light-emitting diodes (LEDs) exhibits a record luminous efficiency of 105 lumens per watt. With further development, the new LEDs could reach efficiencies over 200 lumens per watt, making them a promising energy-efficient lighting source for homes, offices and televisions with the help of quantum dots solution.
- Quantum dots market gives a potential drawback when used in biological applications due to their large physical size, by which they cannot diffuse across cellular membranes. The delivery process may actually be dangerous for the cell and even result in destroying it. In other cases a QD may be toxic for the cell and inappropriate for any biological application, which is a key restraint for the market.
Scope of the Report
Quantum dots market are evolving year by year with newer technological innovations in production and application aspects. Quantum dots in biosensors are used in various field, such as quantum dot biosensors for diagnostics and quantum dot fluorescent biosensors. The growth is rising due to the use of applications of quantum dots in composites, solar cells, medical devices, displays, etc.
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Key Market Trends
LED Penetration to Enhance the Market Growth
- With increasing led penetration in lighting market, the quantum dots market is growing due to its high-efficiency and color-saturated displays. It is increasingly becoming popular in the consumer electronics segment, such as LED TV's which absorb and emit light in pure colors, as much as four times brighter than any other display technology in the world.
- In agriculture, it is possible to produce light-converting coatings, which is expected to increase yield and the speed of ripening of fruit plants in greenhouses. Dutch farmers have started adopting more of indoor farming, and they are able to grow more food, faster, and in a smaller space, with advanced greenhouses using LED lights.
- Colloidal quantum-dot LED with quantum and power conversion efficiencies in the infrared range has proven that these devices can also be integrated in inorganic solar cells and may lead to even higher efficiencies. This triggered a vast number of applications including surveillance, night vision, environmental monitoring and spectroscopy.
- In May, 2018, Osram Licht AG company increased the efficiency of green LEDs by 40%, which leads to longer battery life for fitness trackers, since the significant drop in light output exhibited by green LEDs has often been the cause of efficiency problems and high costs in customer applications.
Asia-Pacific to Execute a Significant Growth Rate
- The quantum dots market in Asia-Pacific is expected to grow at the highest during the forecast period. Due to the inclination of consumers to adopt technologically advanced products and various universities and organizations in this region are involved in R&D of the QD technology, specifically in the display market.
- Surging demand from optoelectronics and solar energy applications is also the key growth factor for this geography. Due to unique optical properties such as high quantum yield, emission tenability, narrow emission band, and optical stability is making quantum dots preferred materials for display and lighting solutions.
- In the coming years there is an increasing demand for quantum dots display in the regions of Asia-Pacific, especially in China which is expected to drive the market for more quantum dots display. Increasing of TV, monitor and smartphone industry expenditures with the introduction of new products is increasing the adoption of quantum dots display, which will enhance the quantum dots market.
The quantum dots market is highly fragmented and the major players have used various strategies such as expansions, new product launches, joint ventures, agreements, partnerships, acquisitions and others to increase their footprints in this market. Key players in the market are Nanosys Inc., NN-Labs LLC, Ocean NanoTech, etc. Recent developments in the market are -
- April 2019 - Leading American cadmium-free quantum dot and nanomaterials manufacturer Quantum Materials Corp. produced a 100% cadmium-free 55 inch QDX quantum dot display technology that achieves an industry-leading 95% Rec. This superior level of performance is achieved by utilizing the Company's proprietary quantum dot enhanced film while eliminating the costly barrier film previously necessary for QD-based display designs.
- Feb 2019 - Nanosys demonstrated breakthrough quantum efficiency for heavy metal-free red, green and blue QDEL devices, and has successfully printed displays using ink jet technology in their labs. This will be the advancements in next-generation quantum dot technology.
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