REPORT SCOPE & OVERVIEW
The Flexible Display market size was valued at USD 11.5 billion in 2023 and is expected to grow to USD 121 billion by 2031 and grow at a CAGR Of 34.2 % over the forecast period of 2024-2031
The Flexible displays provide superior mobility, non-fragility, and weight qualities that make them a desirable solution for consumer electronics producers. Furthermore, with the increase in high-definition content and high-performance applications, the use of flexible displays based on Organic Light Emitting Diode (OLED) technology is growing exponentially. Additionally, the market demand is being driven by the fast rise of the smart wearable industry.
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To keep up with demand, manufacturers are heavily investing in the growth of their manufacturing capabilities. For instance, in order to increase its market presence, LG Display stated in 2016 that it will spend KRW 970 million on a production line for 6th Generation flexible OLED displays. Additionally, the increasing use of OLED technology in a variety of products, including televisions, computers, tablets, digital cameras, VR headsets, and smartphones.
MARKET DYNAMICS
KEY DRIVERS:
Technological advancement
The creation of flexible display solutions that are beautiful, high-performance, and energy-efficient.
There have been significant technical breakthroughs in the flexible display business. From being big and taking up a lot of room, display devices have evolved into becoming thin and bezel-less. They now provide enhanced contrast, high resolution, and reduced power usage when compared to conventional CRT-based display technologies. High levels of market competitiveness have prompted the creation and introduction of new products with premium features and appealing aesthetics. With the introduction of devices based on technologies like OLED and Q-dot driven, companies like Samsung Electronics Co., Ltd. (South Korea) and LG Display Co., Ltd. (South Korea) have driven the display market into a new age. OLEDs provide superior viewing.
RESTRAIN:
Highest cost and affordability issue
The complex manufacturing processes
The manufacture of flexible screens is a multi-stage, complicated process. Other rival display technologies now provide better design capabilities and need fewer production steps. The performance of rigid display and electronics technologies now on the market must be matched by flexible display technology. Many organic compounds used in flexible electronics and screens are flammable and sensitive to oxygen. Moisture and oxygen exposure shorten a material's lifespan. Consequently, they offer less defence. These materials also frequently function at high voltages and sluggish speeds. Extreme temperatures also affect them negatively.
OPPORTUNITY:
High Demand for Flexible Display
The smart wearables market is expanding rapidly.
Many makers of smart bands are anticipating expanding their product lineup to include handheld displays. Small display screens are used in smart wearable products like watches and bracelets. the importance of smart wearables is expanding incorporating the newest industry applications, such as augmented and virtual reality (AR VR), which present new business potential for OLED display manufacturers. Large-sized display panels producers like Taiwan's AU Optronics Corp. and Innolux Corp. may benefit from the rising market for smart wearables. Businesses could make investments to concentrate on these apps, which would eventually boost their income.
CHALLENGES:
Fluctuations in the ASPs of flexible display panels
The ASPs and shipping volumes of flexible display panels are the two main factors that affect the producers' revenues. These costs and volume changes have an impact on this. Flexible display panel prices and shipping quantities are influenced by a number of variables, including raw material costs, yield rates, supply and demand, competition, pricing tactics, and transportation costs. The ASP of raw materials and flexible display panels has experienced significant changes in the flexible display sector. The ASP of flexible display panels may drop if production capacity quickly increases. In contrast, ASP may rise if supply cannot keep up with rising demand.
IMPACT ANALYSIS
IMPACT OF RUSSIAN UKRAINE WAR
Consumer electronics consumption is anticipated to be negatively impacted by prices and the ongoing conflict in Ukraine. One such signal comes from Apple, which is reportedly cutting orders to many suppliers despite reports that it expects to reduce the production of the iPhone and AirPods, according to a story published on Monday in Nikkei Asia. Apple intends to cut production orders for the iPhone SE, a cheap phone that is 5G ready, by around 20% for the upcoming quarter. For the quarter, it would mean between 2 million and 3 million fewer units. According to the journal, it spoke to four persons with knowledge of the matter who blamed decreased manufacturing orders on weaker demand.
Apple is anticipated to decrease AirPods orders by more than 10 million devices for all of 2022 on soft demand. IDC stated in early March that the Russian invasion of Ukraine and the subsequent More than 50% of CIOs in a study said that the diplomatic and economic response had made them reevaluate their IT investment plans for 2022, with 10% anticipating significant cuts. The worldwide impact of this reduction will be rather limited, according to IDC, even if it anticipates a "steep decline and slow recovery for ICT spending in Russia and Ukraine."
IMPACT OF ONGOING RECESSION
Due to the recession, the globe has seen severe product sales declines over the past year as well as cash shortages, defalcations, job terminations and layoffs, pull-out stakes, share market changes, and other problems. These dynamics have reduced trust and produced a financial system that is chaotic.
A recession is an unstable state caused by an imbalance between supply and demand and its results. This article explores the idea of a recession, its origins, and the effects on individuals, Indian and worldwide enterprises, employment, and society in order to comprehend the present dynamics of the Indian economy. It investigates recession had less impact on India than the 2019–20 recession, which has had a significant impact.
KEY MARKET SEGMENTS
By Panel Size
Up to 6"
6-20"
20-50"
Above 50"
By Substrate Material
Glass
Plastic
Others
By Technology
OLED Display
E-paper Display
Quantum dot LED Display
LED-Backlit LCD
By Application
Smartphone & Tablet
Smartwatches & Wearables
Television & Digital Signage Systems
PC Monitors & Laptops
E-reader
Electronic Shelf Labels (ESLS)
Vehicles & Public Transports
Smart Home Appliances
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REGIONAL ANALYSIS
China was the top option for international small businesses in 2023, accounting for almost 97% of the market for flexible display vendors of electrical goods. It is a lucrative production hub for various goods, notably electronics, due to a combination of cheaper salaries, the availability of technical staff, a thriving business ecosystem, reduced compliance, business-friendly taxes and levies, and a weak national currency. Given these figures, it will come as no surprise to learn that
China will have a market of US$ 182 billion potential in terms of dollars between 2023 and 2031.
South Korea was the second-largest buyer of flexible screens in 2023, after China With a market value of $51 million. It is now the sole rollable television maker in the world. being the big electronics company's headquarters. Strong demand for flexible displays is generated by Samsung in South Korea for the production of foldable smartphones. By the end of 2031, it is quite possible that South Korea would become a US$ 2.8 billion market for flexible displays.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
KEY PLAYERS
The Major Player are LG Display Co., Ltd. (South Korea), Samsung Electronics (South Korea), Innolux Corp. (Taiwan), AU Optronics (Taiwan), Japan Display Inc. (Japan), BOE Technology Group Co., Ltd. (China), Sharp Corp. (Japan), Visionox Corporation (China), E Ink Holdings, Inc. (Taiwan), Corning Incorporated (US), E. |. du Pont de Nemours and Company (US), FlexEnable Limited (UK), Kateeva (US), Cambrios Technologies Corp. (US), Royole Corporation (US) and other players are listed in a final report.
Innolux Corp (Taiwan)-Company Financial Analysis
RECENT DEVELOPMENTS
BOE declared in April 2022 that it will increase its manufacturing capacity in Western China. By the end of 2022, the production line would be completely operational. In central China, testing manufacturing is done on the third production line. Almost 60 million OLED panels were sold by businesses, making them the second-largest OLED maker and obtaining 17% of the market share worldwide. By the end of 2022, the business aimed to sell 100 million OLED panel units.
At the SID Display Week trade exhibition in May 2021, Samsung Display presented its most recent OLED advancements. With its cutting-edge products, including Slidable, S-Foldable, and under-panel cameras, it demonstrated the way forward. In order to showcase its next-generation OLED technology, Samsung Display did so at the largest display exhibition in the world.
New products from TCL CSOT, including a 17-inch OLED scroll print display, were on exhibit at CES 2021 in January. It has a rollable 6.7-inch AMOLED display and is 0.18 millimeters thin. The parent company of TCL Technologies is TCL CSOT, a business that focuses on next-generation display technologies. A noteworthy advancement for this type of display is the 17-inch printed OLED scroll display for flexible, free-form screens, which is only 0.18 millimeters thin technology.
| Report Attributes | Details |
| Market Size in 2023 | US$ 11.5 Bn |
| Market Size by 2031 | US$ 121 Bn |
| CAGR | CAGR of 34.2 % From 2024 to 2031 |
| Base Year | 2022 |
| Forecast Period | 2023-2031 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Panel Size (Up to 6”,6-20", 20-50" Above 50”) • By Substrate Material (Glass, Plastic, Others) • By Technology (OLED Display, E-paper Display, Quantum dot LED Display, LED-Backlit LCD) • By Application (Smartphone & Tablet, Smartwatches & Wearables, Television & Digital Signage Systems, PC Monitors & Laptops, E-reader, Electronic Shelf Labels (ESLS), Vehicles & Public Transports, Smart Home Appliances) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | LG Display Co., Ltd. (South Korea), Samsung Electronics (South Korea), Innolux Corp. (Taiwan), AU Optronics (Taiwan), Japan Display Inc. (Japan), BOE Technology Group Co., Ltd. (China), Sharp Corp. (Japan), Visionox Corporation (China), E Ink Holdings, Inc. (Taiwan), Corning Incorporated (US), E. |. du Pont de Nemours and Company (US), FlexEnable Limited (UK), Kateeva (US), Cambrios Technologies Corp. (US), Royole Corporation (US) |
| Key Drivers | • Technological advancement • The creation of flexible display solutions that are beautiful, high-performance, and energy-efficient. |
| Market Opportunities | • High Demand for Flexible Display • The smart wearables market is expanding rapidly. |
Ans: The market for Flexible Display Market is anticipated to expand by 34.2 % from 2024 to 2031.
Ans: USD 121 billion is expected to grow by 2031.
Ans: The Flexible Display Market size was valued at USD 11.5 billion in 2023.
Ans: China is dominating the Market
Ans: Technological advancement and the creation of flexible display solutions that are beautiful, high-performance, and energy-efficient.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Russia-Ukraine War
4.2 Impact of Ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
4.3 Supply Demand Gap Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Flexible Display Market Segmentation, By Panel Size
8.1 Up to 6”
8.2 6-20"
8.3 20-50"
8.4 Above 50"
9. Flexible Display Market Segmentation, By Substrate Material
9.1 Glass
9.2 Plastic
9.3 Others
10. Flexible Display Market Segmentation, By Technology
10.1 OLED Display
10.2 E-paper Display
10.3 Quantum dot LED Display
10.4 LED-Backlit LCD
11. Flexible Display Market Segmentation, By Application
11.1 Smartphone & Tablet
11.2 Smartwatches & Wearables
11.3 Television & Digital Signage Systems
11.4 PC Monitors & Laptops
11.5 E-reader
11.6 Electronic Shelf Labels (ESLS)
11.7 Vehicles & Public Transports
11.8 Smart Home Appliances
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 North America Flexible Display Market by Country
12.2.2North America Flexible Display Market by Panel Size
12.2.3 North America Flexible Display Market by Substrate Material
12.2.4 North America Flexible Display Market by Technology
12.2.5 North America Flexible Display Market by Application
12.2.6 USA
12.2.6.1 USA Flexible Display Market by Panel Size
12.2.6.2 USA Flexible Display Market by Substrate Material
12.2.6.3 USA Flexible Display Market by Technology
12.2.6.4 USA Flexible Display Market by Application
12.2.7 Canada
12.2.7.1 Canada Flexible Display Market by Panel Size
12.2.7.2 Canada Flexible Display Market by Substrate Material
12.2.7.3 Canada Flexible Display Market by Technology
12.2.7.4 Canada Flexible Display Market by Application
12.2.8 Mexico
12.2.8.1 Mexico Flexible Display Market by Panel Size
12.2.8.2 Mexico Flexible Display Market by Substrate Material
12.2.8.3 Mexico Flexible Display Market by Technology
12.2.8.4 Mexico Flexible Display Market by Application
12.3 Europe
12.3.1 Europe Flexible Display Market by Country
12.3.2 Europe Flexible Display Market by Panel Size
12.3.3 Europe Flexible Display Market by Substrate Material
12.3.4 Europe Flexible Display Market by Technology
12.3.5 Europe Flexible Display Market by Application
12.3.6 Germany
12.3.6.1 Germany Flexible Display Market by Panel Size
12.3.6.2 Germany Flexible Display Market by Substrate Material
12.3.6.3 Germany Flexible Display Market by Technology
12.3.6.4 Germany Flexible Display Market by Application
12.3.7 UK
12.3.7.1 UK Flexible Display Market by Panel Size
12.3.7.2 UK Flexible Display Market by Substrate Material
12.3.7.3 UK Flexible Display Market by Technology
12.3.7.4 UK Flexible Display Market by Application
12.3.8 France
12.3.8.1 France Flexible Display Market by Panel Size
12.3.8.2 France Flexible Display Market by Substrate Material
12.3.8.3 France Flexible Display Market by Technology
12.3.8.4 France Flexible Display Market by Application
12.3.9 Italy
12.3.9.1 Italy Flexible Display Market by Panel Size
12.3.9.2 Italy Flexible Display Market by Substrate Material
12.3.9.3 Italy Flexible Display Market by Technology
12.3.9.4 Italy Flexible Display Market by Application
12.3.10 Spain
12.3.10.1 Spain Flexible Display Market by Panel Size
12.3.10.2 Spain Flexible Display Market by Substrate Material
12.3.10.3 Spain Flexible Display Market by Technology
12.3.10.4 Spain Flexible Display Market by Application
12.3.11 The Netherlands
12.3.11.1 Netherlands Flexible Display Market by Panel Size
12.3.11.2 Netherlands Flexible Display Market by Substrate Material
12.3.11.3 Netherlands Flexible Display Market by Technology
12.3.11.4 Netherlands Flexible Display Market by Application
12.3.12 Rest of Europe
12.3.12.1 Rest of Europe Flexible Display Market by Panel Size
12.3.12.2 Rest of Europe Flexible Display Market by Substrate Material
12.3.12.3 Rest of Europe Flexible Display Market by Technology
12.3.12.4 Rest of Europe Flexible Display Market by Application
12.4 Asia-Pacific
12.4.1 Asia Pacific Flexible Display Market by Country
12.4.2 Asia Pacific Flexible Display Market by Panel Size
12.4.3 Asia Pacific Flexible Display Market by Substrate Material
12.4.4Asia Pacific Flexible Display Market by Technology
12.4.5Asia Pacific Flexible Display Market by Application
12.4.6 Japan
12.4.6.1 Japan Flexible Display Market by Panel Size
12.4.6.2 Japan Flexible Display Market by Substrate Material
12.4.6.3 Japan Flexible Display Market by Technology
12.4.6.4 Japan Flexible Display Market by Application
12.4.7 South Korea
12.4.7.1 South Korea Flexible Display Market by Panel Size
12.4.7.2 South Korea Flexible Display Market by Substrate Material
12.4.7.3 South Korea Flexible Display Market by Technology
12.4.7.4 South Korea Flexible Display Market by Application
12.4.8 China
12.4.8.1 China Flexible Display Market by Panel Size
12.4.8.2 China Flexible Display Market by Substrate Material
12.4.8.3 China Flexible Display Market by Technology
12.4.8.4 China Flexible Display Market by Application
12.4.9 India
12.4.9.1 India Flexible Display Market by Panel Size
12.4.9.2 India Flexible Display Market by Substrate Material
12.4.9.3 India Flexible Display Market by Technology
12.4.9.4 India Flexible Display Market by Application
12.4.11 Australia
12.4.10.1 Australia Flexible Display Market by Panel Size
12.4.10.2 Australia Flexible Display Market by Substrate Material
12.4.10.3 Australia Flexible Display Market by Technology
12.4.10.4 Australia Flexible Display Market by Application
12.4.11 Rest of Asia-Pacific
12.4.11.1 APAC Flexible Display Market by Panel Size
12.4.11.2 APAC Flexible Display Market by Substrate Material
12.4.11.3 APAC Flexible Display Market by Technology
12.4.11.4 APAC Flexible Display Market by Application
12.5 The Middle East & Africa
12.5.1 The Middle East & Africa Flexible Display Market by Country
12.5.2 The Middle East & Africa Flexible Display Market by Panel Size
12.5.3 The Middle East & Africa Flexible Display Market by Substrate Material
12.5.4The Middle East & Africa Flexible Display Market by Technology
12.5.5 The Middle East & Africa Flexible Display Market by Application
12.5.6 Israel
12.5.6.1 Israel Flexible Display Market by Panel Size
12.5.6.2 Israel Flexible Display Market by Substrate Material
12.5.6.3 Israel Flexible Display Market by Technology
12.5.6.4 Israel Flexible Display Market by Application
12.5.7 UAE
12.5.7.1 UAE Flexible Display Market by Panel Size
12.5.7.2 UAE Flexible Display Market by Substrate Material
12.5.7.3 UAE Flexible Display Market by Technology
12.5.7.4 UAE Flexible Display Market by Application
12.5.8South Africa
12.5.8.1 South Africa Flexible Display Market by Panel Size
12.5.8.2 South Africa Flexible Display Market by Substrate Material
12.5.8.3 South Africa Flexible Display Market by Technology
12.5.8.4 South Africa Flexible Display Market by Application
12.5.9 Rest of Middle East & Africa
12.5.9.1 Rest of the Middle East & Asia Flexible Display Market by Panel Size
12.5.9.2 Rest of Middle East & Asia Flexible Display Market by Substrate Material
12.5.9.3 Rest of Middle East & Asia Flexible Display Market by Technology
12.5.9.4 Rest of Middle East & Asia Flexible Display Market by Application
12.6 Latin America
12.6.1 Latin America Flexible Display Market by Country
12.6.2 Latin America Flexible Display Market by Panel Size
12.6.3 Latin America Flexible Display Market by Substrate Material
12.6.4 Latin America Flexible Display Market by Technology
12.6.5 Latin America Flexible Display Market by Application
12.6.6 Brazil
12.6.6.1 Brazil Flexible Display Market by Panel Size
12.6.6.2 Brazil Africa Flexible Display Market by Substrate Material
12.6.6.3 Brazil Flexible Display Market by Technology
12.6.6.4 Brazil Flexible Display Market by Application
12.6.7 Argentina
12.6.7.1 Argentina Flexible Display Market by Panel Size
12.6.7.2 Argentina Flexible Display Market by Substrate Material
12.6.7.3 Argentina Flexible Display Market by Technology
12.6.7.4 Argentina Flexible Display Market by Application
12.6.8 Rest of Latin America
12.6.8.1 Rest of Latin America Flexible Display Market by Panel Size
12.6.8.2 Rest of Latin America Flexible Display Market by Substrate Material
12.6.8.3 Rest of Latin America Flexible Display Market by Technology
12.6.8.4 Rest of Latin America Flexible Display Market by Application
13. Company Profile
13.1 LG Display Co., Ltd. (South Korea),
13.1.1 Market Overview
13.1.2 Financials
13.1.3 Product/Services/Offerings
13.1.4 SWOT Analysis
13.1.5 The SNS View
13.2 Samsung Electronics (South Korea),
13.2.1 Market Overview
13.2.2 Financials
13.2.3 Product/Services/Offerings
13.2.4 SWOT Analysis
13.2.5 The SNS View
13.3 Innolux Corp. (Taiwan),
13.3.1 Market Overview
13.3.2 Financials
13.3.3 Product/Services/Offerings
13.3.4 SWOT Analysis
13.3.5 The SNS View
13.4 AU Optronics (Taiwan),
13.4.1 Market Overview
13.4.2 Financials
13.4.3 Product/Services/Offerings
13.4.4 SWOT Analysis
13.4.5 The SNS View
13.5 Japan Display Inc. (Japan),
13.5.1 Market Overview
13.5.2 Financials
13.5.3 Product/Services/Offerings
13.5.4 SWOT Analysis
13.5.5 The SNS View
13.6 BOE Technology Group Co., Ltd. (China)
13.6.1 Market Overview
13.6.2 Financials
13.6.3 Product/Services/Offerings
13.6.4 SWOT Analysis
13.6.5 The SNS View
13.7 Sharp Corp. (Japan),
13.7.1 Market Overview
13.7.2 Financials
13.7.3 Product/Services/Offerings
13.7.4 SWOT Analysis
13.7.5 The SNS View
13.8 E Ink Holdings, Inc. (Taiwan)
13.8.1 Market Overview
13.8.2 Financials
13.8.3 Product/Services/Offerings
13.8.4 SWOT Analysis
13.8.5 The SNS View
13.9 Corning Incorporated (US),
13.9.1 Market Overview
13.9.2 Financials
13.9.3 Product/Services/Offerings
13.9.4 SWOT Analysis
13.9.5 The SNS View
13.10 FlexEnable Limited (UK),
13.10.1 Market Overview
13.10.2 Financials
13.10.3 Product/Services/Offerings
13.10.4 SWOT Analysis
13.10.5 The SNS View
14. Competitive Landscape
14.1 Competitive Benchmarking
14.2 Market Share Analysis
14.3 Recent Technology
15. USE Cases and Best Practices
16. Conclusion
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