Global Flexible Display Market

Flexible Display Market Size, Share, Growth Analysis, By Type(LCD, OLED, EPD, and Others), By Material Type(Glass, Plastic, and Metal), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45J2155 | Region: Global | Published Date: March, 2024
Pages: 197 |Tables: 64 |Figures: 75

Flexible Display Market Insights

Global Flexible display Market size was valued at USD 18.83 billion in 2022 and is poised to grow from USD 24.12 billion in 2023 to USD 174.90 billion by 2031, at a CAGR of 28.1% during the forecast period (2024-2031).

The purpose of the flexible display market is to provide advanced display solutions that can be incorporated into a wide range of devices such as smartphones, tablets, wearables, televisions, and automotive displays. These displays offer flexibility, portability, and durability while maintaining high-quality visuals. The market aims to address the growing consumer demand for innovative form factors and immersive display experiences. A key driving factor for the flexible display market is the rising consumer preference for sleek and lightweight devices with larger screens. Flexible displays enable manufacturers to design thinner and more portable devices without compromising on display size or quality. Additionally, the increasing adoption of smartphones and wearables, coupled with the demand for energy-efficient displays, is driving market growth. There are certain restraining factors and challenges that the flexible display market faces. One major challenge is the high manufacturing cost associated with flexible display technology.

The production process involves complex manufacturing techniques and specialized materials, which can result in higher production costs. The global flexible display market is driven by the increasing demand for innovative and flexible display solutions in various industries. While facing challenges such as high manufacturing costs and scalability issues, the market holds immense potential for growth and technological advancements. The continuous development of new materials, manufacturing processes, and applications will shape the future of the flexible display market, providing enhanced user experiences and driving further adoption across industries.

US Flexible Display Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 18.83 billion

Largest Segment

OLED

Fastest Growth

EPD

Growth Rate

28.1% CAGR

Global Flexible Display Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Flexible Display Market By Type ($ Bn)
Global Flexible display Market By Type (%)

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Flexible Display Market Segmental Analysis

The global flexible display market is segmented on the basis of type, process, and region. By type, the market is segmented into LCD, OLED, EPD, and others. By material type, the market is segmented into glass, plastic, and metal. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Flexible Display Market Analysis by Type

OLED (Organic Light Emitting Diode) emerges as the largest segment in terms of market share. OLED technology offers several advantages such as high contrast ratio, fast response time, wide viewing angles, and vibrant colors, making it a popular choice for flexible displays. The increasing demand for smartphones, tablets, and wearable devices with curved or foldable screens has been a significant driver for the growth of OLED-based flexible displays.

The fastest-growing segment in the flexible display market is EPD (Electrophoretic Display). EPD technology, commonly used in e-readers and electronic shelf labels, offers low power consumption, excellent readability under various lighting conditions, and the ability to retain an image even without power. These features make EPD ideal for applications that require low-power and outdoor readability, such as e-books and signage. The growing adoption of e-readers and the increasing use of electronic shelf labels in retail sectors are propelling the demand for EPD-based flexible displays.

Flexible Display Market Analysis by Material Type

plastic emerges as the largest segment in terms of market share. Plastic materials offer exceptional flexibility, lightweight properties, and durability, making them ideal for creating bendable and rollable displays. The demand for plastic-based flexible displays is primarily driven by the growing adoption of smartphones, tablets, and wearable devices that require lightweight and durable screens.

The fastest-growing segment in the flexible display market is glass. While glass is traditionally associated with rigid displays, advancements in glass manufacturing techniques have led to the development of ultra-thin and flexible glass materials. These flexible glass materials offer improved scratch resistance, better optical properties, and higher thermal stability compared to plastics. The rising demand for foldable smartphones and other innovative form factors is driving the growth of glass-based flexible displays.

Global Flexible display Market By Type, 2023 (%)

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Flexible Display Market Regional Insights

Asia Pacific emerges as the dominating region in terms of market share. This region is home to several major manufacturers and suppliers of flexible displays, including South Korea, China, and Japan. South Korea, in particular, holds a significant market share due to the presence of leading companies such as Samsung Display and LG Display, which are pioneers in flexible display technology. The strong presence of these key players and the region's advanced manufacturing capabilities contribute to its dominance in the global market.

North America is expected to be the fastest-growing region in the flexible display market. The region's growth can be attributed to the increasing adoption of flexible displays in various applications such as smartphones, tablets, and wearables. The presence of prominent technology companies and the demand for advanced consumer electronics further drive the growth of the flexible display market in North America. Additionally, the region's focus on research and development activities related to display technologies and its strong consumer base contribute to its rapid growth in the market.

Global Flexible display Market By Region, 2024-2031
  • Largest
  • Fastest

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Flexible Display Market Dynamics

Flexible Display Market Drivers

Increasing Demand for Foldable Smartphones

  • Foldable smartphones gained significant traction in 2022, driving the demand for flexible displays. Companies like Samsung, Huawei, and Motorola introduced foldable phone models with flexible displays, offering users the ability to switch between a phone and a tablet-like form factor. The demand for these innovative devices propelled the growth of the flexible display market as smartphone manufacturers sought to incorporate flexible display technology into their products.

Growing Adoption of Wearable Devices

  • The popularity of wearable devices, such as smartwatches and fitness trackers, continued to rise in 2022. These devices often feature curved or flexible displays to provide a comfortable fit on the wrist. The increasing demand for wearable technology drove the demand for flexible displays, creating opportunities for display manufacturers to cater to this market segment.

Flexible Display Market Restraints

Costs High Manufacturing Costs

  • One of the restraints faced by the flexible display market in 2022 was the high manufacturing costs associated with the production of flexible displays. The specialized materials, intricate manufacturing processes, and low yield rates contributed to the higher production costs. This challenge posed a barrier to widespread adoption and limited the availability of flexible displays in various applications.

Limited Durability and Longevity

  • While flexible displays offer unique advantages, such as bendability and lightweight designs, their durability and longevity compared to traditional rigid displays remained a concern in 2022. The flexible nature of these displays made them more susceptible to damage from impact and wear over time. Manufacturers and researchers focused on addressing these challenges to enhance the durability and lifespan of flexible displays.

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Flexible Display Market Competitive Landscape

The global flexible display market is highly competitive and characterized by the presence of several prominent players striving to gain a competitive edge in the industry. These companies focus on technological advancements, product innovation, partnerships, and strategic collaborations to strengthen their market position. key players, along with other participants in the market, engage in fierce competition to gain a larger market share. They invest in research and development, explore new applications for flexible displays, and strive to offer products with improved performance and durability. The competitive landscape of the global flexible display market is driven by innovation, technological advancements, and the ability to cater to the evolving needs of various industries.

Flexible Display Market Top Player’s Company Profiles

  • AU Optronics Corp. (Taiwan)
  • Japan Display Inc. (Japan)
  • Innolux Corporation (Taiwan)
  • Tianma Microelectronics Co., Ltd. (China)
  • Truly International Holdings Ltd. (Hong Kong)
  • Sharp Corporation (Japan)
  • E Ink Holdings Inc. (Taiwan)
  • Visionox Co., Ltd. (China)
  • EverDisplay Optronics Ltd. (China)
  • Truly Semiconductors Ltd. (Hong Kong)
  • Royole Corporation (China)
  • Chunghwa Picture Tubes Ltd. (Taiwan)
  • CPT Technology (Group) Co., Ltd. (China)
  • Novaled GmbH (Germany)
  • Universal Display Corporation (US)
  • Cambridge Display Technology Ltd. (UK)
  • Plastic Logic Germany GmbH (Germany)

Flexible Display Market Recent Developments

  • In January 2024, BOE showcased its cutting-edge display technology and intelligent cockpit solutions at the International Consumer Electronics Show 2024 (CES 2024) in Las Vegas, USA, garnering significant attention.

     

  • In October 2023, TRG Screen, a prominent enterprise subscription spend provider and usage management software, announced a strategic growth investment from Vista Equity Partners, a leading global investment firm specializing in enterprise software, data, and technology-enabled businesses.

     

  • In September 2023, Samsung Electronics Co. of South Korea is ready to introduce its 83-inch 4K OLED TV model to the European market, including panels sourced from its local competitor, LG Display Co.

Flexible Display Key Market Trends

  • Advancements in Foldable Display Technology: there were notable advancements in foldable display technology. Manufacturers introduced improved foldable designs with enhanced durability, reduced crease lines, and better display quality. These technological advancements aimed to overcome previous limitations and offer users a seamless and immersive experience with foldable devices. The trend of continuous innovation in foldable display technology contributed to the market's growth and attracted consumer interest.
  • Development of Flexible OLED Displays: OLED technology continued to dominate the flexible display market in 2022. Display manufacturers focused on developing flexible OLED displays that offer high contrast, vibrant colors, and energy efficiency. The trend towards flexible OLED displays enabled the production of thin and lightweight devices with exceptional visual quality. This trend drove the adoption of flexible OLED displays across various applications, including smartphones, televisions, and wearable devices.

Flexible Display Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to our global flexible display market analysis, the increasing demand for flexible and portable electronic devices is the key growth driver. Flexible displays are lightweight, thin, and can be bent or curved, making them suitable for various applications such as smartphones, tablets, wearables, and automotive displays. The market is driven by factors such as technological advancements, growing consumer preference for innovative and visually appealing displays, and the rising adoption of flexible displays by manufacturers. The global flexible display market is witnessing steady growth due to the rising demand for flexible and portable electronic devices. Technological advancements, consumer preferences, and expanding applications are driving the market. While there are challenges to overcome, such as high production costs and complex manufacturing processes, the market presents lucrative opportunities for players to introduce innovative and cost-effective flexible display solutions.

Report Metric Details
Market size value in 2023 USD 18.83 billion
Market size value in 2031 USD 174.90 billion
Growth Rate 28.1%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • LCD, OLED, EPD, and Others
  • Material Type
    • Glass, Plastic, and Metal
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • AU Optronics Corp. (Taiwan)
  • Japan Display Inc. (Japan)
  • Innolux Corporation (Taiwan)
  • Tianma Microelectronics Co., Ltd. (China)
  • Truly International Holdings Ltd. (Hong Kong)
  • Sharp Corporation (Japan)
  • E Ink Holdings Inc. (Taiwan)
  • Visionox Co., Ltd. (China)
  • EverDisplay Optronics Ltd. (China)
  • Truly Semiconductors Ltd. (Hong Kong)
  • Royole Corporation (China)
  • Chunghwa Picture Tubes Ltd. (Taiwan)
  • CPT Technology (Group) Co., Ltd. (China)
  • Novaled GmbH (Germany)
  • Universal Display Corporation (US)
  • Cambridge Display Technology Ltd. (UK)
  • Plastic Logic Germany GmbH (Germany)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Flexible Display Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Flexible Display Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Flexible Display Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Flexible Display Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Flexible Display Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Flexible Display Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Flexible display Market size was valued at USD 18.83 billion in 2022 and is poised to grow from USD 24.12 billion in 2023 to USD 174.90 billion by 2031, at a CAGR of 28.1% during the forecast period (2024-2031).

The flexible display market is highly competitive and characterized by the presence of several prominent players striving to gain a competitive edge in the industry. These companies focus on technological advancements, product innovation, partnerships, and strategic collaborations to strengthen their market position. key players, along with other participants in the market, engage in fierce competition to gain a larger market share. They invest in research and development, explore new applications for flexible displays, and strive to offer products with improved performance and durability. The competitive landscape of the flexible display market is driven by innovation, technological advancements, and the ability to cater to the evolving needs of various industries. 'Samsung Display Co., Ltd. (South Korea)', 'LG Display Co., Ltd. (South Korea)', 'BOE Technology Group Co., Ltd. (China)', 'AU Optronics Corp. (Taiwan)', 'Japan Display Inc. (Japan)', 'Innolux Corporation (Taiwan)', 'Tianma Microelectronics Co., Ltd. (China)', 'Truly International Holdings Ltd. (Hong Kong)', 'Sharp Corporation (Japan)', 'E Ink Holdings Inc. (Taiwan)', 'Visionox Co., Ltd. (China)', 'EverDisplay Optronics Ltd. (China)', 'Truly Semiconductors Ltd. (Hong Kong)', 'Royole Corporation (China)', 'Chunghwa Picture Tubes Ltd. (Taiwan)', 'CPT Technology (Group) Co., Ltd. (China)', 'Novaled GmbH (Germany)', 'Universal Display Corporation (US)', 'Cambridge Display Technology Ltd. (UK)', 'Plastic Logic Germany GmbH (Germany)'

Foldable smartphones gained significant traction in 2022, driving the demand for flexible displays. Companies like Samsung, Huawei, and Motorola introduced foldable phone models with flexible displays, offering users the ability to switch between a phone and a tablet-like form factor. The demand for these innovative devices propelled the growth of the flexible display market as smartphone manufacturers sought to incorporate flexible display technology into their products.

Advancements in Foldable Display Technology: there were notable advancements in foldable display technology. Manufacturers introduced improved foldable designs with enhanced durability, reduced crease lines, and better display quality. These technological advancements aimed to overcome previous limitations and offer users a seamless and immersive experience with foldable devices. The trend of continuous innovation in foldable display technology contributed to the market's growth and attracted consumer interest.

Asia Pacific emerges as the dominating region in terms of market share. This region is home to several major manufacturers and suppliers of flexible displays, including South Korea, China, and Japan. South Korea, in particular, holds a significant market share due to the presence of leading companies such as Samsung Display and LG Display, which are pioneers in flexible display technology. The strong presence of these key players and the region's advanced manufacturing capabilities contribute to its dominance in the market.

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