The global quantum dots market size is anticipated to witness healthy growth during the forecast period of 2018 to 2025. Their scope of application has been widening and they are increasingly emerging mainstream in several industries, thanks to their miniature properties. When a semiconductor material is shrunk to quantum-dot level, the alteration in light wavelength transforms it to conductor from insulator. The conversion in property allows these dots to be integrated in several devices instead of finding their semiconductor alternative that possesses a special chemical composition. Blue quantum dots are among the smallest quantum dots in size; however, their manufacturing process is complicated, which can limit the growth of the QD market.
Surging demand for quantum dots in high-quality display devices is one of the primary growth stimulants for the market. These dots are being increasingly incorporated into new-generation applications such as digital cameras, personal digital assistant devices, TV screens, and gaming consoles. They enable improved color quality and higher efficiency.
Moreover, they offer superior characteristics such as wavelength tenability and high brightness that allow display designers to customize a light spectrum. The customization facilitates maximization of both color performance and efficiency of the display, thereby enhancing user experience. Besides this, their increasing adoption in solar cells and photovoltaics is estimated to propel the market.
Quantum dots are used in several products, including medical devices, sensors, LED lighting devices, laser devices, chips, and display devices. These dots incorporated into medical devices can be used for imaging applications that help in the detection of cancer cells. Increasing investments in the developed of QD medical devices are expected to bode well for the market. QD laser devices are employed for biological tagging of cells. Quantum dot-based LED display devices find applications in ultra-flat panel displays. Such displays are increasingly replacing CRTs and LCDs, owing to their higher efficiency, better color quality, and structural simplicity.
Renewable energy, optoelectronics, security and surveillance, and biological imaging are some of the areas of application. Rising reliance on solar energy for power generation is boosting the growth of the renewable energy segment in the QD market. In November 2018, Quantum Materials Corp (QMC) signed an agreement with Amtronics CC, to develop, manufacture, and commercialize thin-film quantum dot solar cells (QDSC) in Assam, India. In the agreement, AMTRON, a state-owned venture, is going to play an important role by providing necessary bank guarantees. The production facility will be spread over 12,000 sq. feet in the Guwahati Tech City.
Optoelectronics is also a promising application segment. Proliferation of smartphones and smart televisions is likely to stoke the growth of the market. In biological imaging, these dots are used in in-vivo and in-vitro imaging.
Developed regions such as North America and Europe are poised to hold prominent position in the global arena. The growth of these regions can be attributed to early introduction and high acceptance of QD technology coupled with strong presence of key players. Asia Pacific, on the other hand, is projected to present immense growth potential during the forecast period.
Countries such as Japan, China, and South Korea are anticipated to be the sights of high growth rate in the region. Increasing investments in the development of energy efficient panels along with growing emphasis on innovative products at affordable price are estimated to work in favor of the regional market.
Collaborations and partnerships for expanding portfolios and sharing expertise are among the key strategies for market players to stay ahead in the global quantum dots market. Some of the prominent companies operating in the market are Samsung Electronics Co. Ltd; Sony Corporation; Altair Nanotechnology Inc.; LG Display; QD Laser Inc.; Life Technologies Corporation; Invisage Technologies Inc.; Nexxus Lighting; Quantum Material Corporation; Evident Technologies; Nanosys Inc.; Microvision Inc.; Ebioscience Inc.; Nano Axis LLC; and Sigma-Aldrich Co. LLC.
Research Support Specialist, USA