WELLESLEY, Mass, Aug. 08, 2018 (GLOBE NEWSWIRE) -- Cutting-edge materials and a host of advanced applications are helping to boost growth of the electronic materials market, according to a report by BCC Research.
The industry is expected to see a compound annual growth rate (CAGR) of 17.0% through 2022, when it could be worth $11.9 billion, according to the report New Electronic Materials and Device Technologies: Global Markets.
Major players in the market include 3SAE Technologies, ACS Materials, BASF, Cambridge Nanosystems, Directa Plus, Fianium, Graphene Frontiers, Invisage Technologies, Nanoco Technologies, Phase Change Energy Solutions, Superpower and Thermo Fisher Scientific.
Research Highlights
- By size and by growth, the market will be led by the Asia-Pacific region, which will see a CAGR through 2023 of 18.9%, leading to a value of $4.5 billion.
- Molybdenite will lead the market by material type, with a CAGR through 2023 of 28.1%, although by size, the market will be led by conductive and semi-conductive polymers, which will have an estimated 2023 value of $4.2 billion.
- By application, the market leader in size will be sensors and imaging equipment, which anticipate a 2023 value or $2.6 billion, although growth will be led by displays, which will have a CAGR through the period of 21.0%
“Over the forecast period, we expect investment to remain the highest in North America, but heavy investment and early commercialization in the Asia Pacific region, particularly from China, South Korea and Japan, is expected as governments and companies drive capital outlay,” the report notes. “Encouraged by favorable government policies, available funding and pioneering academic research, we expect China to emerge as the leading global player in new electronics discoveries, especially in graphene and carbon nanotube publication and patenting activity.”
Among New Materials in Market, Quantum Dots Show Great Promise
A number of new materials are disrupting traditional markets and helping to boost growth in some sectors. One of those is quantum dots, which are nanoscale structures fabricated from semiconductor materials such as silicon and germanium. Quantum dots emit light when they are excited, and the color of the dot depends on its size, meaning a rainbow of colors can be emitted from a single material by changing dot size. These optical properties, the report adds, have opened the door to a wide range of optoelectronic applications, including light-emitting diodes, lasers, displays, digital image sensors and memory devices.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.