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

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.