The flexible display market was valued at USD 6.67 billion in 2022, and is expected to reach a value of USD 40.01 billion by 2031, at a CAGR of 34.80% over the forecast period
– Flexible displays offer many advantages over conventional display technology, including lightweight, bendable, ultra-thin, shatter-proof, unbreakable, portable, and low energy consumption.
– The most significant advantage that flexible displays are potentially expected to offer are their durability. Since this screen can be bent and manipulated, it tends to absorb the fall and collision impact better than solid glass structures that are currently in the application.
– Owing to the rising demand for consumer electronics, such as wearable devices, smartphones, and television and computer peripherals, and high adoption in entertainment and gaming, the market for flexible displays is expected to witness a significant growth rate over the forecast period.
– For instance, Royole, a company based in Fremont, California, developed super-thin OLED displays that are about 0.01 mm thick, which are flexible, can be folded, and even flapped.
– However, the high levels of manufacturing complexities have been a major challenge, affecting the large-scale adoption. Recent technological innovations, such as the development of flexible transistors, with extreme bending ability, is expected to address the manufacturing challenges.
Scope of the Report
Flexible display is classified as OLEDs, LCDs, LEDs, and EPDs. Flexible display is made up of glass, plastic, and metal. It has different applications, such as smartphones and tablets, smart wearables, televisions, and digital signage systems, personal computers and laptops, monitors, vehicle and public transport, smart home appliances, E-readers, and electronic shelf labels.
Key Market Trends
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OLED Technology Segment is Expected to Witness the Highest Growth
– Flexible displays constructed from OLED are energy efficient when compared to other variants. OLEDs are available in a very small form factor making it possible for the manufacturers to construct them as individual pixels. They are already induced into several consumer electronics, such as curved OLED TVs etc., creating a considerable demand.
– OLED display systems have gained popularity in recent times, due to their simplified design, better image quality, and limited flexibility as of now. OLED screens do not involve backlighting, so they can be thinned and molded into specific shapes, one of such being the curved screens. Samsung uses this property of OLED display to offer mobile devices that come with curved displays.
– In Asia-Pacific countries, such as India and China, the operating revenue from televisions is still high as compared to other regions owing to the continuous demand for television upgrade.
Asia-Pacific is Expected to Witness the Highest Growth Rate
– The Asia-Pacific flexible display market is expected to show high growth in the future as top display manufacturers, such as Samsung, LG, Sony, AUO, and E Ink Holdings are based in the region. Hence, it is a preferred market for cell phone, tablet, laptop, and television manufacturers across the world.
– The surge in the demand for smartphones has played a significant role in the demand for flexible displays in the region. APAC has approximately 2 billion users of smartphone and the region is also home to some of the prominent manufacturers of OLEDs.
– The government of South Korea is encouraging the development of OLED supply chain and is contributing to support universities and research institutes. The South Korean government also granted permission to LG to build an OLED panel manufacturing plant in Guangzhou. The plant is scheduled to be completed in the second quarter of 2019 and it will be able to produce 60,000 8.5-gen OLED panels a month.
– According to a report, the Chinese panel producer BOE will become a supplier of OLED panels to Apple for folding iPhone scheduled for 2020.
– Currently, Japan Display Inc. (JDI) is investing in Chinese panel makers, including BOE, Tianma, and CSOT, in order to improve JDI’s OLED deposition technology to mass produce small-sized OLED screens for smartphones in 2019.
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