Search for New Electronic Materials Supercharging Global Market Growth, Reports BCC Research
February 15, 2017 --
Wellesley, Mass, Feb. 15, 2017 (GLOBE NEWSWIRE) -- New innovations in electronic materials are supporting the need to squeeze more functionality into smaller, thinner, more flexible and aesthetically pleasing devices with longer-lasting batteries.BCC Research reveals in its new report that the search for new types of materials is driving impressive growth in the global markets for new electronic materials and device technologies.
Traditional electronic materials have been pushed to their limits as advancements in technology, more sophisticated user requirements, and emerging industries have created the need for better, faster, lighter and more environmentally sustainable materials.
The global market for advanced electronic materials, which totaled nearly $4.9 billion in 2016, should total $10.3 billion and $24.1 billion in 2021 and 2026, respectively, growing at a five-year (2021-2026) compound annual growth rate (CAGR) of 18.5%. Communications as a segment, which reached $1.1 billion in 2016, should total $2.1 billion and $4.9 billion in 2021 and 2026, respectively, demonstrating a five-year (2021-2026) CAGR of 18.4%. Displays as a segment, which totaled $504 million in 2016, should reach nearly $1.2 billion and $3.2 billion in 2016 and 2021, respectively, reflecting a five-year (2021-2026) CAGR of 22.6%.
Communications, energy, and sensor and imaging equipment are the largest markets and encompass a multitude of potential applications, especially for quantum dots and graphene. Display applications are expected to be the fastest growing market for these new materials, particularly polymers (e.g., polymer OLEDs). Data storage and memory applications are the second-largest market, especially for phase-change materials.
Polymers and quantum dots have emerged as leading materials valued at nearly $1.5 billion and $1.3 billion in 2016, followed by photonic crystals and nanowires valued at $533 million and $472 million in 2016, respectively. Phase change materials are valued at $361 million followed by superconductors at $321 million and carbon nanotubes at $273 million. The smallest markets are graphene valued at $76.7 million and molybdenite $7.8 million, respectively, in 2016.
"Although graphene nanostructures are still in the research stage, significant progress has been made in fabrication techniques that allow for atomically well-defined structures," says BCC Research analyst Christopher Maara. "It's also possible to make graphene nanostructures over centimeter scale and make devices on many different substrates using synthesis and transfer techniques. Over the last two years, new methods of producing graphene in large, affordable quantities have been developed by researchers and companies around the globe."
New Electronic Materials and Device Technologies: Global Markets (AVM078B) analyzes materials and devices such as graphene, quantum dots, photonic crystals, carbon nanotubes, superconductors, and nanowires by their major applications and end uses. The report also examines emerging electronic materials technologies that are most likely to achieve significant commercial sales in the next five to 10 years. Global market drivers and trends, with data from 2015, estimates for 2016 and 2021, and projections of CAGRs through 2026 also are provided.
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 visitbccresearch.com. Follow BCC Research on Twitter at@BCCResearch.
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