Total Market for New Electronic Materials to Grow 182%
The total market for new electronic materials is projected to increase from $27.6 million in 2010 and $30.7 million in 2011 to more than $5.5 billion in 2016 and almost $26 billion in 2021, with compound annual growth rates (CAGR) of 182.5% and 36.3% from 2011 to 2016 and 2016 to 2021, respectively. This is according to a new technical market research report, “New Electronic Materials and Device Technologies: Global Markets,” from BCC Research.
The global market for advanced electronic materials can be broken down into eight segments: sensors and imaging equipment, communications, energy, data storage and memory, displays, computing, lighting and illumination, and other. Displays, projected to make up the largest segment, accounted for $1 million in 2011 and is expected to reach $3.9 billion in 2016 and nearly $12.8 billion in 2021, with CAGRs of 422.8% and 26.7%, respectively, over those five-year periods.
Data storage and memory is projected to make up the next-largest segment. Worth less than $1 million in 2011, the segment is expected to reach values of $210 million in 2016 and nearly $5.5 billion in 2021, with CAGRs of 361.8% and 92%, respectively, over those five-year periods. Currently the largest segment, sensors and imaging equipment was worth $24.8 million in 2011 and is expected to reach totals of $869.2 million in 2016 and more than $3 billion in 2021, with CAGRs of 103.7% and 28.2%, respectively, over those five-year periods.
Display applications present the largest potential market for these new materials, particularly polymers or polymer organic light-emitting diodes. Data storage and memory applications are the second-largest market, especially for phase-change materials. Sensors and imaging equipment make up the third-largest market, especially for quantum dots.
For additional information, visit www.bccresearch.com.