The foldable display market is predicted to touch USD 1,549.4 million at a whopping 62% CAGR between the forecast period 2018-2023, states the recent Market Research Future (MRFR) analysis. A foldable display, simply put, is an electronic display having high flexibility. They have a foldable touch panel, flexible screens, and wireless charging. Thus, it can be folded, twisted, and rolled-up like a paper according to the specific use.
Various factors are propelling the global foldable display market share. According to the recent MRFR market estimates, such factors include technological advances in OLED display technology, growing demand of high specification products from the booming electronics industry, growing investments by smartphone manufacturers to develop foldable phones, demand for foldable phone, development of advanced materials for foldable displays by suppliers, commercialization of foldable smartphones, and growing support by Android and Google for foldable displays.
On the contrary, technical drawbacks, the high cost of technology, and the COVID-19 impact are factors that may deter the foldable display market growth over the forecast period.
Tosoh Corporation (Japan), Sumitomo Chemical Co., Ltd (Japan), Solip Tech Co., Ltd (South Korea), SKC Kolon PI Inc. (South Korea), Schott NYC (US), Nitto Denko Corporation (Japan), Nissha Co Ltd (Japan), Zeon Corp (Japan), Microsoft Corporation (US), Light Polymers Inc. (US), LG Chem Ltd (South Korea), Konica Minolta, Inc. (Japan), Kateeva, Inc. (US), Kaneka Corporation (Japan), Huawei Technologies Co. Ltd (China), FUJIFILM Holdings Corporation (Japan), DuPont (US), AGC Inc. (Japan), Ares Materials, Inc. (US), Apple Inc. (US), 3M Company (US), Visionox Technology Inc. (US), Altenergy Power System, Inc. (US), C3Nano, Inc. (US), Tianma Microelectronics Co., Ltd (China), Semiconductor Energy Laboratory Co., Ltd (Japan), Royole Corporation (China), Applied Materials, Inc. (US), BOE Technology Group Co. (China), LG Display Co., Ltd (South Korea), and Samsung Electronics Co., Ltd (South Korea).
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The MRFR report highlights an inclusive segmental analysis of the global foldable display market based on application and display.
By type, the global foldable display market is segmented into AMOLED, OLED, and LED. Of these, the OLED type segment will lead the market over the forecast period.
By application, the global foldable display market is segmented into wearable display, television, tablets and notebook, and smartphone display.
By region, the foldable display market covers the growth opportunity and recent trends across Europe, North America, the Asia Pacific (APAC), and the Rest of the World (RoW). Of these, the Asia Pacific will dominate the market over the forecast period. The rich concentration of display device manufacturers, high demand for technically advanced, growing demand for HD smartwatch display and smartphones, and need to produce more OLED based foldable displays for the upgraded and new smartphones are adding to the global foldable display market growth in the region.
In North America, the global foldable display market will have the second-largest share over the forecast period. Lots of start-ups outsourcing their manufacturing in Canada and the US, heavy investments, high developments, early selection of digitized items in the United States, high spending limit of Americans, and increasing sales of expensive electronic gadgets are adding to the global foldable display market growth in the region.
In Europe, the foldable display market is predicted to have healthy growth over the forecast period.
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