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The Wearable Display Device Materials Market is witnessing a plethora of trends driven by advancements in technology, changing consumer lifestyles, and increasing adoption of wearable devices across various sectors.
Rapid Growth in Wearable Technology: The wearable technology market is experiencing rapid growth, fueled by innovations in smartwatches, fitness trackers, augmented reality (AR) glasses, and other wearable devices. This growth is driving the demand for advanced materials that can meet the performance requirements of wearable display devices, such as flexibility, durability, and lightweight properties.
Demand for Flexible Display Technologies: With the increasing popularity of flexible display technologies such as OLED (organic light-emitting diode) and AMOLED (active matrix organic light-emitting diode), there is a growing need for flexible substrate materials that can enable bendable and foldable displays in wearable devices. Materials like polyimide (PI), polyethylene terephthalate (PET), and transparent conductive films (TCFs) are gaining traction for their flexibility and compatibility with flexible display technologies.
Focus on Lightweight and Thin Materials: Wearable display devices are becoming increasingly compact and lightweight to enhance user comfort and portability. As a result, there is a growing demand for materials that are thin, lightweight, and have high strength-to-weight ratios. Materials like polymer films, glass substrates, and thin-film materials are being preferred for their lightweight properties and suitability for wearable applications.
Integration of Advanced Functionalities: Wearable display devices are evolving beyond basic functionalities to incorporate advanced features such as biometric monitoring, health tracking, augmented reality (AR), and virtual reality (VR). This trend is driving the demand for materials with specific properties such as biocompatibility, moisture resistance, and optical transparency to enable the integration of advanced functionalities in wearable devices.
Emphasis on Durability and Reliability: Wearable display devices are subjected to various environmental factors such as moisture, temperature fluctuations, mechanical stress, and impact during everyday use. As a result, there is a growing emphasis on materials that offer durability, reliability, and resistance to environmental degradation. Materials with protective coatings, scratch-resistant surfaces, and impact-resistant properties are in high demand for enhancing the durability of wearable display devices.
Advancements in Transparent Conductive Materials: Transparent conductive materials play a crucial role in enabling touch-sensitive displays and interactive functionalities in wearable devices. With the increasing demand for larger and more responsive displays, there is a focus on advancements in transparent conductive materials such as indium tin oxide (ITO) alternatives, graphene-based materials, and silver nanowires (AgNWs) for their improved conductivity, transparency, and flexibility.
Integration of Energy Harvesting Technologies: Energy harvesting technologies such as solar cells, thermoelectric generators, and kinetic energy harvesters are being integrated into wearable devices to enable self-powering capabilities and extend battery life. This trend is driving the demand for materials that are compatible with energy harvesting technologies and can efficiently convert ambient energy into electrical power for wearable display devices.
Customization and Personalization: Consumers are increasingly seeking customizable and personalized wearable devices that reflect their individual preferences, styles, and needs. This trend is driving the demand for materials that allow for customization and personalization, such as customizable display covers, interchangeable bands, and customizable interface designs, to enhance the user experience and cater to diverse consumer preferences.
Focus on Health and Safety: With growing concerns about health and safety, there is a focus on materials that are non-toxic, hypoallergenic, and compliant with safety regulations for use in wearable display devices. Materials with antimicrobial coatings, skin-friendly adhesives, and biocompatible properties are gaining traction for their ability to ensure user safety and comfort in wearable applications.
Collaboration and Partnerships for Innovation: Collaboration and partnerships between material suppliers, display manufacturers, technology providers, and wearable device OEMs (original equipment manufacturers) are driving innovation and fostering the development of materials tailored for wearable display devices. These collaborations enable knowledge sharing, technology transfer, and joint research and development initiatives to address evolving market needs and accelerate the adoption of materials in wearable applications.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Opportunities | The opportunity in the development of hybrid and multi-function wearable devices that will integrate all the functions in one compact device. |
Wearable Display Device Materials Market Highlights:
Global Wearable Display Device Materials Market Overview
The wearable display device materials market is expected to grow at a high CAGR of 13.05% and a valuation to USD 4,157.2 million during the forecasted period 2024-2032. The demand for wearable display device materials is expanding because of the rising use of consumer electronics and smart devices.
The global market for wearable display device materials has been spread across various regions like North America, the Middle East, Africa, Europe, Asia Pacific, and the rest of the world. Of these, the Asia Pacific regional market is estimated to lead the global market for wearable display device materials during the review period.
The market for wearable display device materials has been segmented based on substrate, coatings, adhesives, and end-use industry. Further, the substrates segment has been classified into glass, polycarbonates, fiber, and others. The coatings segment is segregated into perylene, piezoresistive, superhydrophobic, conductive, and others. The adhesives segment is categorized into silicone, acrylic, epoxy, and polyurethane. The end-user industry segment has been segmented into smart glass, wearable cameras, smartwatches, fitness trackers, and others.
COVID 19 Analysis
Owing to the global pandemic of COVID 19 the growth of the wearable display device materials market has shown a downfall in the global market which falls the economies into forced recession and due to this fact, the global market demand for wearable display devices has reduced many times because of manufacturing shutdown during lockdown period.
The wearable display device materials market is expected to recover from this global pandemic in the second quarter of the coming year.
Market Dynamics
Drivers
Owing to the increase in the phenomenon of the Internet Of Things (the IoT), and its interconnected capacity with various devices like computers, laptops, tablets, smartphones, etc it has to drive the wearable display device materials market in the global market. This has made the life of consumers easy and comfortable as it can easily be connected with smart sensors, drones, driving cars, and various wearable display devices.
Opportunity
The opportunity in the development of hybrid and multi-function wearable devices that will integrate all the functions in one compact device. The demand for these products will increase during the forecasted period.
Restraint
The wearable display device materials market is growing at a very fast speed but some factors restraints its growth like the high cost because of rapid evolution and development of consumer electronics and hence the products of old technology becomes obsolete within a short period. Also, it is a big challenge to update at the speed at which technology is growing. Also, consumers want their products to be of the latest technology as a result, more cost is incurred for the installation of new technology now and then. Also, it affects the production cycle of the products.
Value Chain Analysis
With the advent of wearable display devices market in the global market, the life of the consumers has become very easy and comfortable as now they have devices that can easily monitor their health all the time. This will reduce the burden of doctors and staff as now the health conditions can easily be monitored using wearable display devices to improve the treatment and diagnosis. These wearable display devices help in motivating the customers as they help in keeping the track of their goals and accomplishments and helps in self-improvement.
Market Segmentation
The wearable display device materials market in the global market is divided based on substrate, adhesives, coatings, and end-use industry.
Based on substrates
The wearable display device materials market in the global market is divided based on the substrate into glass, fiber, polycarbonates, and many others. The leading dividend in the substrate segment is the polycarbonates with a growth of a CAGR of 13.8% to reach the value of USD 2,267.5 million during the forecasted period.
Based on adhesives
The wearable display device materials market in the global market is divided based on adhesives into silicon, epoxy, acrylic, and polyurethane. Owing to the conductive coatings that prevent electric discharge and hence helps in preventing heating, silicon adhesive dividend is expected to reach a value of USD 1,017 million as it is used in appliances, electronics, and automobiles.
Based on coatings
The wearable display device materials market in the global market is divided based on coating into perylene, superhydrophobic, piezoresistive, conductive, and others.
Based on the End-Use industry
The wearable display device materials market in the global market is divided based on the end-use industry into the smart glass, smartwatches, wearable cameras, fitness trackers, and many others. Owing to the increasing use of checking check pulse rate, calories consumed, heart-beat, and sleeping pattern are the factors leading to the growth of smartwatches.
Regional Analysis
The largest share in the global wearable display device materials market is held by the Asia-Pacific region which is expected to show a high CAGR of 14.5% during the forecasted period from 2021 to 2027. Under this region, China has the leading market. Indian market is also showing tremendous growth in the global market and is expected to rise more during the forecasted period from 2021 to 2027.
The second position is held by the North American region owing to an increase in disposable income of the people and a shifting trend towards smart devices has lead to the growth in the North American region.
Competitive Landscape
Some of the major key players in the wearable display device material market in the global market are as follows:
- BASF SE (Germany)
- DowDuPont (U.S.)
- Wacker Chemie AG (Germany)
- Arkema SA (France)
- 3M (U.S.)
- Eastman Chemical Company (U.S.)
- Solvay (Belgium)
- Covestro AG (Germany)
- Henkel AG and Co. KGaA (Germany)
- Master Bond Inc. (U.S.)
To increase the market share of the wearable display device materials market in the global market these prominent players use various strategies like product collaboration and launching and tapping the untapped market for the potential customer base.
Recent Developments
In January 2020
The smart-hearing company, namely Nuheara, has launched the IQbuds2 MAX earbuds. This product consists of many unique features like the cancellation of active noise, personalization, and soundscape, which is growing its demand among the consumers. Moreover, this product produces fine tunes that are helpful for the environment.
In May 2020
The prominent player Garmin has launched its quatix 6X Solar, which is a new feature in the marine GPS. This product has a unique feature that it uses solar energy rather than using electric charging with an aim to expand its battery life.
Report Overview
The global wearable display device materials market research report consists of the following aspects:
- Market Overview
- COVID 19 Analysis
- Market Dynamics
- Value Chain Analysis
- Market Segmentation
- Regional Analysis
- Competitive Landscape
- Recent Developments
This wearable display device research reports tell about the growth opportunities and drivers in the global market along with the impact of COVID 19 on the global market demand. The future expected growth rate and value are also estimated and mentioned.
Research Methodology
The research methodology has both primary and secondary data and top-down and bottom-up approaches to estimate the size of the market along with dependent submarkets. Key players in the wearable display device industry are identified through secondary research. It includes company press releases, annual reports, investor presentations of companies, and many others. All this study is verified using primary research and analyzed to get quantitative and qualitative data.
Users
Wearable display device material manufacturers, retailers, distributors, wholesalers, government agencies, associations, industrial bodies, investors, traders, and many others.
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