The value of the quantum dots market stood at USD 4,723.8 million in 2023, and this number is projected to reach USD 13,948.0 million by 2030, advancing at a CAGR of 17% during 2023–2030. The acceptance of the quantum dots tech is because of the rising need for devices that have advanced performance and improved resolution quality. Furthermore, the electronics sector’s rising demand for narrow-band light frequency and the growing research and development on such materials boost the industry.
Based on material, the cadmium-based category grips the larger share. QDs that comprise cadmium have numerous benefits, like bright photoluminescence, high photostability, narrow emission, and broad ultraviolet excitation.
This is why they can be utilized in photovoltaic & electroluminescence devices, sensors, catalytic hydrogen making, and bio-imaging. During the projection period, the cadmium-free category is projected to experience a strong CAGR. Cadmium-free quantum dots offer ecologically maintainable and safer substitutions for both consumers and manufacturers.
They provide the color advantages related to the quantum dot tech without the dangers of toxicity or governing restraints. Cadmium-free quantum dots are not restricted to show applications, as they are also utilized in numerous other fields, like biomedical applications, solar cells, and lighting solutions.
Based on the applications, the displays category contributed the highest revenue in the industry. QDs are utilized by the makers of display devices as they have high steadiness, a thin spectrum, and low power usage. QDs are extensively utilized in displays of flat-panel TV screens, digital cameras, gaming consoles, and personal digital assistant devices.
In April 2022, UBIQD and SWM International entered into a partnership for the development of advanced quantum dot interlayers to serve as power-generating windows. The interlayers, based on the luminescent Solar Concentrator technology, absorb sunlight and convert it to near-infrared light which will subsequently be recovered for electricity production.
This innovation can aid in fulfilling the U.S. Department of Energy's goal to decrease power usage in buildings. Infrastructure uses 76% of the power in the nation, therefore accounting for a large share of indirect emissions.
The bulk manufacturing technology category led the industry as it has the capability to make QDs on a huge scale with advanced quality. It is appropriate for fulfilling the high demand for such materials in numerous applications, like solar panels, consumer electronics, and displays. The advantages of bulk manufacturing are cost-effectiveness, as it decreases the making cost per unit mass adoption, volume; supply consistency, and advanced product performance.
