|By PR Newswire||
|April 21, 2014 10:13 AM EDT||
PORTLAND, Oregon, April 21, 2014 /PRNewswire/ --
According to a new research report published by Allied Market Research titled "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 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 resultant of faster price erosion during the analysis period. The decline in prices can be attributed to the refinement of manufacturing technologies & mass production processes and high volume demand.
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The key drivers for the growth of the QD market are 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. From the competitive scenario, display and lighting equipment manufacturers are eager to bring out QD based products, which is currently 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.
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However, some of factors such as high cost of technology and slow adoption due to extended research 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 & defense, food, and packaging will provide the essential future growth thrust to the market. Furthermore, future use of newer and cost effective materials will provide the QD market an added 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 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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