Electroluminescent Materials Market Size, Share, Growth, and Industry Analysis, By Type (Blue Electroluminescent Materials, Green Electroluminescent Materials, Orange Electroluminescent Materials and White Electroluminescent Materials), By Application (Panels, Wires and Others), Regional Insights and Forecast to 2032

Updated On: 22 April 2024

ELECTROLUMINESCENT MATERIALS MARKET REPORT OVERVIEW

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global electroluminescent materials market size was USD 5 million in 2020 and market is projected to touch USD 10.68 million by 2032 at CAGR 7.5% during the forecast period.

Electroluminescent (EL) materials are a class of substances that emit light in response to an electric current or an electric field. These materials have found widespread applications in various technologies, including flat-panel displays, lighting devices, and signage. The phenomenon of electroluminescence involves the generation of light when charge carriers (electrons and holes) recombine in a semiconductor material. Electroluminescent materials typically consist of semiconductors doped with specific impurities to facilitate the radiative recombination of charge carriers.

One of the most common types of electroluminescent materials is zinc sulfide (ZnS) doped with manganese (Mn). This combination is employed in the production of phosphors for thin-film electroluminescent displays. The electroluminescent effect in these materials occurs when an alternating current is applied, causing the ZnS:Mn crystals to emit visible light. Other electroluminescent materials include organic compounds, such as certain polymers and small molecules, which are used in organic light-emitting diodes (OLEDs). OLEDs are known for their flexibility, enabling the creation of bendable and even rollable displays.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the electroluminescent materials market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The electroluminescent materials market relies on complex global supply chains for raw materials and manufacturing. Disruptions caused by lockdowns, travel restrictions, and closures of manufacturing facilities during the pandemic could have led to supply chain challenges, affecting the production and distribution of electroluminescent materials.

The pandemic has led to reduced consumer spending and economic uncertainty, impacting industries such as automotive, consumer electronics, and retail. These sectors are significant consumers of electroluminescent materials for applications like backlighting, displays, and automotive lighting. The decreased demand in these sectors could have affected the market. The market is anticipated to boost the electroluminescent materials market growth following the pandemic.

LATEST TRENDS

"Advancements in Organic Electroluminescent Materials to Drive Market Growth"

Research and development efforts are focusing on organic electroluminescent materials for applications such as organic light-emitting diodes (OLEDs). These materials offer potential advantages in terms of energy efficiency, color tunability, and compatibility with flexible substrates. There is a growing emphasis on developing electroluminescent materials that are flexible and stretchable. This trend aligns with the demand for flexible displays, wearable electronics, and other applications that require materials to conform to different shapes.

Transparency and translucency in electroluminescent materials are gaining attention for applications in transparent displays, interactive surfaces, and see-through electronic devices. These materials contribute to the development of visually unobtrusive and aesthetically pleasing technologies. These latest developments are anticipated to boost the electroluminescent materials market share.

ELECTROLUMINESCENT MATERIALS MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into Blue Electroluminescent Materials, Green Electroluminescent Materials, Orange Electroluminescent Materials and White Electroluminescent Materials.

Blue electroluminescent materials emit light in the blue wavelength range when subjected to an electric current. These materials are crucial for display technologies, lighting applications, and electronic devices where a blue color is desired.

Green electroluminescent materials produce green light when an electric current is applied. Green emission is essential for achieving a full spectrum of colors in displays and lighting systems.

Orange electroluminescent materials emit light in the orange part of the spectrum. These materials are utilized for applications where an orange color is required, such as in certain types of displays, signage, and decorative lighting.

White electroluminescent materials emit a broad spectrum of light, covering the entire visible range, to produce a white light. This type of material is crucial for applications where a neutral or tunable white light is needed, such as in lighting fixtures and certain display technologies.

• By Application

Based on application the global market can be categorized into Panels, Wires and Others.

Panels typically refer to electroluminescent display panels or EL panels. These panels consist of layers of electroluminescent material sandwiched between conductive layers, with the ability to emit light when an electric current is applied. EL panels are flexible, thin, and lightweight, making them suitable for a variety of applications.

Wires may refer to the electrical components that connect to electroluminescent devices, providing the necessary power to activate the electroluminescent effect. These wires are part of the overall electrical circuit that enables the controlled emission of light in response to an electric current.

DRIVING FACTORS

"Increasing Demand for Energy-Efficient Lighting to Boost the Market"

The growing emphasis on energy efficiency and sustainability is driving the adoption of electroluminescent materials for lighting applications. These materials offer the potential for energy-efficient illumination compared to traditional lighting sources. The demand for electroluminescent materials that offer transparency and translucency is growing. These materials find applications in transparent displays, see-through electronics, and other areas where visually unobtrusive technologies are desired. The proliferation of display technologies, such as OLEDs (organic light-emitting diodes) that use electroluminescent materials, is a significant driver. The demand for vibrant, high-contrast, and flexible displays in consumer electronics and other applications is fueling the market.

"Technological Advancements in Smart Textiles & Wearables to Expand the Market"

The integration of electroluminescent materials into smart textiles and wearable devices is driving market growth. This trend is fueled by consumer demand for innovative and visually appealing wearables that offer both functionality and aesthetic appeal. The adoption of electroluminescent materials in AR and VR devices is driven by the need for immersive and visually appealing displays. These materials contribute to the development of visually striking and immersive experiences in these emerging technologies. These factors are anticipated to drive the electroluminescent materials market share.

RESTRAINING FACTOR

"Complex Manufacturing Processes to Potentially Impede Market Growth"

The manufacturing processes for certain electroluminescent materials can be complex and involve specialized equipment. The complexity of production may limit scalability and hinder the widespread adoption of these materials in large-scale applications. Scaling up electroluminescent technology for large displays, such as TVs, can pose technological challenges. Achieving uniform illumination across large surfaces without compromising performance can be complex and may limit its adoption in certain display applications. Electroluminescent materials face competition from other lighting technologies, such as LED (light-emitting diode) and QLED (quantum dot LED). These alternative technologies may offer similar or superior performance characteristics, impacting the market share of electroluminescent materials. The factors are anticipated to hinder the growth of the electroluminescent materials market growth.

ELECTROLUMINESCENT MATERIALS MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate the Market owing to the Largest Consumer Electronics Base"

Asia Pacific, particularly countries like China, Japan, and South Korea, serves as a global hub for manufacturing electronic components and devices. The region's well-established electronics manufacturing infrastructure contributes to its dominance in the production and supply of electroluminescent materials used in displays, lighting, and other applications. Asia Pacific is home to some of the world's largest consumer electronics markets.

The high demand for smartphones, TVs, tablets, and other electronic devices in countries like China, Japan, and South Korea creates a substantial market for electroluminescent materials used in display technologies, including OLEDs. Countries in Asia-Pacific, especially Japan and South Korea, have been at the forefront of technological innovation, including advancements in display technologies. Research and development initiatives in these regions contribute to the development of new and improved electroluminescent materials.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.

List of Market Players Profiled

• Leuchtstoffwerk Breitungen GmbH [Germany]
• Shanghai Keyan Phosphor Technology [China]

INDUSTRIAL DEVELOPMENT

September 2021: Electroluminescent Panel manufactured by Ellumigen Inc. is a flat and thin lighting device that emits light when an electric current is applied. It consists of layers of electroluminescent material sandwiched between conductive layers. The electroluminescent material emits light as a result of the electric field across the layers, and the emitted light is typically uniform across the panel surface. This makes electroluminescent panels suitable for various applications where flexible and aesthetically pleasing lighting is desired.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.