The global wearable display device materials market is estimated to be valued at USD 4,157.2 million by 2023 and is expected to register a CAGR of 13.05% during the forecast period.
The polycarbonate substrate segment dominated the global market owing to its unique properties such as non-toxicity, biologically inertness, recyclability, and cost-effectiveness, which make it an excellent choice for the substrate material.
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By adhesives, the silicone adhesive segment accounted for 38% of the overall market share in 2017 and is expected to register a substantial CAGR during the review period.
The growth of the conductive coatings segment is attributed to the advantages such as reduced coating thickness, improved electrical properties, good adhesion, durability, and design adaptability.
The smartwatches end-use segment is estimated to reach a value of USD 1,910.7 million by the end of the review period.
Geographically, the global Wearable Display Device Materials Market has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. As per MRFR analysis, Asia-Pacific was the largest market for wearable display device materials in 2017 and is expected to remain dominant during the review period. North America accounted for 23.4% of the market share in 2017, with US being the major contributor. The rising demand for wireless electronic devices coupled with the high disposable income of the consumers is the major driver for the growth of the wearable display device materials market in the region.
The global wearable display device materials market has been segmented on the basis of substrates, adhesives, coatings, end-use industry, and region.
On the basis of substrates, the market has been categorized into glass, fiber, polycarbonates, and others. Among these substrates, the polycarbonates dominated the market in 2017. This can be attributed to the unique properties of polycarbonates such as lightweight, impact resistance, UV resistance, chemical resistance, and weatherability along with its high dimensional stability, mouldability, as well as has excellent heat resistance with a glass transition temperature of up to 148°C.
Based on the adhesives, the global market has been segmented into silicone, epoxy, acrylic, and polyurethane. The silicone adhesives segment is projected to showcase substantial demand on the backdrop of its excellent flexibility, high heat and temperature resistance, as well as adherence to a wide range of surfaces including plastic, metal, and glass.
By coatings, the global market has been categorized into parylene, superhydrophobic, piezoresistive, conductive, and others. The conductive coatings offer reduced coating thickness, improved electrical properties, good adhesion, durability, and design adaptability. Besides, they are available at a competitive price and have low VOC content, which are the primary factors fuelling the demand for conductive coatings.
On the basis of end-use industry, the global market has been segmented into smart glass, smart watches, wearable cameras, fitness trackers, and others. Among these, the smartwatches segment is expected to register a healthy CAGR during the review period as they can perform day-to-day tasks such as receiving phone calls, read and dictate text messages and e-mails, analyzing physical activities, and monitoring fitness and health-related activities.
Key Findings of the Study:
- The global wearable display device materials market is projected to reach USD 4,157.2 million by 2023 at a CAGR of 13.05% during the review period of 2018 to 2023.
- Asia-Pacific accounted for the largest market share with China being the major contributor to the growth of the
- Some of the prominent players in this market are BASF SE, DowDuPont, Wacker Chemie AG, Arkema SA, 3M, Eastman Chemical Company, Solvay, among others.
- The key manufacturers are adopting expansion, collaborations, and product launches as growth strategies.
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