Hole Transport Layer Material Market size is forecast to reach $110.70 billion by 2025, after growing at a CAGR of 10.8% during 2020-2025. Hole transport layer material is a layer that possesses high electron affinity and high electron mobility. These types of materials are used to optimize both the performance and the stability of electronic devices. The hole transport layer forms a high-quality film that is not soluble in the solvent used for the emitting polymer.
By Type – Segment Analysis
Inorganic segment held a significant share in hole transport layer material market in 2019. The hole transport layer (HTL) material is a key component of the perovskite solar cells (PSCs) that must be optimized to reach high efficiency. Inorganic hole transporters such as Cu2O, NiO, CuI, CuO, CuGaO2, CuCrO2, MoOx (as an interlayer), VOx and WOx are inexpensive, abundant, non-toxic and energy non-intensive. Since efficiency and stability are both essential in photovoltaics, these inorganic hole transport layer materials provide affordable stability. Organic based hole transport layer materials can be easily synthesized with high yield and high purity and can be reproduced for industrial production.
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By Application – Segment Analysis
Semiconductor segment held a significant share in hole transport later material market in 2019, growing at a CAGR of 11.12% during the forecast period. Inorganic p-type semiconductors are alternative hole transport layer materials due to their chemical stability, high transparency, higher mobility in the visible region, and applicable valence band (VB) energy level. Because of the poor hole transport characteristics, control of doping in the active region can help make recombination more uniform across all quantum wells. Most of the hole transport layer materials used in perovskite solar cell (PSCs) are organic semiconductors mainly due to their milder processing conditions compatible with perovskites.
For the constant demand for high-efficiency and long-lifetime OLEDs, the development of high-performance organic electroluminescence materials is of prime concern. In particular, the initial charge separation, i.e. the charge injection, is an ultrafast, efficient process. However, to obtain the fairly high optical density that is required for effective solar energy conversion, it is necessary to use the high surface area of semiconductor electrodes.
Geography- Segment Analysis
Asia Pacific dominated the hole transport layer material market with a share of more than 40%, followed by North America and Europe. This is primarily because of higher demand from the electronics sector due to a growing population. LED lighting market has huge growth opportunity in the emerging markets of Asia Pacific due to tremendous demand from residential application segment. The design and synthesis of a novel series of hole-transporting, electron-transporting, host and emitter materials have enabled OLEDs with remarkable operating characteristics. These are used to optimize the performance of electronic devices. Furthermore, countries such as India and Japan have also been contributing to the growth of the hole transport layer material market. Overall, the demand for hole transport layer material is expected to increase in the during the forecast period.
Due to COVID-19 pandemic, the production facilities of the electronics parts have been halted owing to the logistics slowdown and unavailability of the workforce across the globe. The shutdown of retail shops and showrooms of major brands, supermarkets, and hypermarkets for a definite period of time is further anticipated to affect the sales of various electronics products, which in turn affects the hole transport layer material market.
Drivers – Hole Transport Layer Material Market
Increasing demand from LED’s and semiconductors
The growth of the global hole transport layer market is driven by increase in demand from light-emitting diodes & semiconductors. LED offers a very high efficiency compared to traditional lamps and higher lighting quality compared to fluorescent lighting in the non-residential sector. The components of an LED and the way that they generate light significantly extend the lifespan of these bulbs which in turn increases the demand for hole transport layer materials. Increase in research activities for the development of several applications such use hole transport material in solar cells with high photoelectric conversion efficiency is expected to provide growth opportunities for the industry players.
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Challenges – Hole Transport Layer Material Market
LEDs are more expensive (price per lumen) on an initial capital cost basis, than most conventional lighting technologies. They are temperature dependent and hence their performance largely depends on the ambient temperature of the operating environment. Hole transport layer materials have increased device complexity and cost which is expected to hinder the market growth.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the hole transport layer material market. Major players in the hole transport layer material market are Hodogaya, TCI Europe N.V., Mayfran GmbH, Borun New Material Technology Co. Ltd., Dyenamo, E I DuPont de Nemours and Co., Novaled, Dyesol, Merck and CMT Vatteroni among others.
Asia-Pacific is expected to dominate the global hole transport layer material market during the forecast period.
By application, semiconductor is expected to witness the highest demand for hole transport layer material market during the forecast period.
Hole transport layer material is widely used in both organic photovoltaics and OLED, with slightly functions different.
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