Newark, Aug. 21, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 6 billion in 2023 global quantum dot market will reach USD 28.84 billion in 2033. Semiconductors include quantum dots. They're not very big. Measurements are made in nanometres. Nonetheless, their outstanding optical and electrical qualities are a result of their compact size. Because of their tiny size and the quantum mechanical characteristics they display, they are referred to as quantum dots. They are perfect for creating vibrant images, like those seen on LED TV displays, because of their exceptional optical qualities and remarkable precision in reflecting or emitting light hues. It is possible to modify the light emissions to get the exact colours needed. The healthcare industry uses this vivid imaging ability for imaging-related diagnoses. Additionally, they play a critical role in the effective conversion of light energy into electric energy using solar panels. They are essential and extremely important in many applications, and in the near future, developing technologies may reveal their full potential.
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Key Insight of the Global Quantum dot Market
North America will dominate the market during the forecast period.
The area boasts a strong, developed, and cutting-edge infrastructure for research and development, with major players in the market, electronics and technology firms, and academic and research institutes all contributing to the ongoing breakthroughs and developments in quantum dots. To keep ahead of the curve and get a competitive edge over China, the US government has dramatically increased investment on quantum dots and related sectors. Additionally, partnerships and cooperation are encouraged by the regional regulatory framework. Another factor driving the market's expansion is the existence of major competitors who can produce the quantum dots needed to meet consumer demand.
In 2023, the colloidal synthesis segment dominated the market with the largest market share of 37% and revenue of 2.22 billion.
The technique segment is divided into colloidal synthesis, fabrication, bio-molecular self-assembly, viral assembly, electrochemical assembly, and bulk-manufacturing. In 2023, the colloidal synthesis segment dominated the market with the largest market share of 37% and revenue of 2.22 billion.
In 2023, the QD displays segment dominated the market with the largest market share of 35% and revenue of 2.10 billion.
The product type segment is divided into QD medical devices, QD displays, QD solar cells, QD photodetectors/QD sensors, QD lasers, QD lighting (LED) solutions, batteries and energy-storage systems, QD transistors, and QD tags. In 2023, the QD displays segment dominated the market with the largest market share of 35% and revenue of 2.10 billion.
In 2023, the cadmium-based quantum dots segment dominated the market with the largest market share of 42% and revenue of 2.52 billion.
The material segment is divided into cadmium-based quantum dots, cadmium-free quantum dots, silicon, graphene, and lead sulphide. In 2023, the cadmium-based quantum dots segment dominated the market with the largest market share of 42% and revenue of 2.52 billion.
In 2023, the healthcare segment dominated the market with the largest market share of 36% and revenue of 2.16 billion.
The application segment is divided into consumer, commercial, telecommunications, healthcare, defence, and others. In 2023, the healthcare segment dominated the market with the largest market share of 36% and revenue of 2.16 billion.
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Advancement in market
A group under the direction of Department of Energy Science and Engineering Professor Jongmin Choi has created a PbS quantum dot that can significantly increase solar cells' electrical conductivity. The journal Small publishes the findings. The group discovered a way to increase electrical conductivity by employing "pulse-shaped" light, which produces a significant amount of concentrated energy on a regular basis. This technique can take the place of the heat treatment procedure, which takes a long time to produce the same outcome. It is anticipated that this strategy will make PbS quantum dot solar cells easier to produce and sell in the future.
Market Dynamics
Driver: The rising cost of consumer electronics.
The demand for consumer electronics is expanding as a result of factors like urbanisation, population growth, rising disposable income, automation and digitisation of economies, increased accessibility to smart linked devices, and data connectivity. Due to the enormous and constantly expanding customer demand, the industry is now extremely competitive and saturated. Product inventions and advancements aimed at gaining market share have been motivated by competition. These advancements, which improve consumer devices' displays and picture quality, would not be possible without the use of quantum dots. When creating HD, HDR, 4K, and UHD photos, it is essential. Given the basic nature of quantum dots in improving displays and imaging of these devices, the growing demand for consumer electronics will therefore propel the expansion of the worldwide quantum dot market.
Restraints: The price of quantum dots.
The materials required to produce quantum dots are costly. The production of these compounds in a controlled atmosphere using specialised equipment raises the cost even more. The manufacture of these products on a commercial scale is extremely difficult due to the complexity of these processes. The risk of quality degradation in commercial scale production contributes to increased production costs. Costs are further increased by the ongoing research and development (R&D) involved in the synthesis, application, and manufacturing of quantum dots. Consequently, the growth of the market would be hampered by the costs of quantum dots.
Opportunities: developments in technology.
Numerous countries have prioritised the development of quantum dots due to the growing need for them in the increasingly digital world. It has resulted in expanded partnerships, collaborations, and programs supporting the quantum dot market in addition to greater financing for research and development. The objective of these improvements is to enhance the synthesis process, leading to the cost-effective manufacture of quantum dots without sacrificing consistent quality. This results in more quantum dots being produced. Scalability helps to lower production costs, which boosts market expansion. Further investigation enhances the potential uses of quantum dots in novel products and industries.
Challenges: Regulatory environment.
Quantum dots are made from materials that are known to be toxic and are detrimental to human and environmental health. It can cause skin and respiratory problems. It causes water, soil and water pollution if not disposed off properly. the detrimental effects of quantum dot make it a highly regulated market and rightfully so. However, these regulations challenge the market’s growth with its time-consuming, complex and overlapping guidelines are processes. The regulations have become even more stringent in the face of growing environmental degradation.
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Some of the major players operating in the global quantum dot market are:
• Altairnano
• Dow
• LG Display Co., Ltd.
• Nanoco Group plc
• Nanosys Inc.
• Ocean NanoTech
• QD Laser
• Sigma-Aldrich Co.
• Sony Corporation
• Thermo Fisher Scientific Inc.
Key Segments covered in the market:
By Technique
• Colloidal Synthesis
• Fabrication
• Bio-Molecular Self-Assembly
• Viral Assembly
• Electrochemical Assembly
• Bulk-Manufacturing
By Product Type
• QD Medical Devices
• QD Displays
• QD Solar Cells
• QD Photodetectors/QD Sensors
• QD Lasers
• QD Lighting (LED) Solutions
• Batteries and Energy-Storage Systems
• QD Transistors
• QD Tags
By Material
• Cadmium-Based Quantum Dots
• Cadmium-Free Quantum Dots
• Silicon
• Graphene
• Lead Sulphide
By Application
• Consumer
• Commercial
• Telecommunications
• Healthcare
• Defence
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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