Global nanophotonics market to grow at a CAGR of 47.72%: Research and Markets

Research and Markets in its new report “Global Nanophotonics Market 2016-2020” forecasts the global nanophotonics market to grow at a CAGR of 47.72% during the period 2016-2020.

According to the report, one of the primary drivers in the market is focus on increasing solar power capacity. The depletion of non-renewable sources of energy such as coal, petroleum, and natural gas is driving the adoption of renewable sources of energy such as wind and solar energy to produce electricity. Several countries across the globe are focusing on increasing the solar power capacity. The global solar PV installation reached 58 GW in 2015 and is expected to grow at a CAGR of 18.87% during the forecast period. In 2015, APAC was the fastest growing region, accounting for more than 55% of the global solar PV installation.

The author of the report recognizes the following companies as the key players in the global nanophotonics market: Blue Nano, BuckyUSA, Carbon Solutions, Cambrios Technologies, Catalytic Materials, Cnano Technology, Cree, LG Display, Materials and Electrochemical Research, Nanocs, Nanocyl, Nanoco Technologies, nanoPHAB, Nanosys, Nanostructured & Amorphous Materials, Novarials, Novaled, OSRAM Opto Semiconductors, Philips Lumileds Lighting, QD Vision, Quantum Materials, Samsung SDI, TCL Display Technology, and Universal Display.

Commenting on the report, an analyst from the research team said: “One of latest trends in the market is growing complexity of ICs. Rapid technological developments in consumer electronic devices, healthcare equipment, and telecommunication equipment are leading to high level of functional integration. These devices are increasingly used as multi-functional terminals that offer a wide range of new applications on a single platform. This has resulted in increased demand for ICs and electronic systems with greater functionality and performance, reduced size, and low power consumption. As a result, chip manufacturers are manufacturing highly sophisticated ICs that combine all the necessary electronic components into a single microchip, which contains various digital, analog, and radio frequency functions.”

The report states that one major challenge in the market is high cost of production of quantum dots. Currently, the cost of production of quantum dots is between $3,000 per gram and $8,000 per gram, which varies on the basis of performance and concentration. The solvent, which is mainly octadecene, used in quantum dot synthesis account for about 90% costs of raw material. In addition, the low adoption of this technology is restricting the vendors to increase the production capacity. However, the vendors are trying to reduce the production cost by adopting new processing technology and increasing production capacity. For instance, in 2011, Quantum Material developed automated process using microreactor technology instead of batch processing technique to increase the yield of quantum dots per cycle. Vendors in the market are also focusing on increasing the production capacity of quantum dots to counter this challenge. The cost of quantum dots per gram will decline because of the increase in the production capacity by vendors. The increase in production capacity will help vendors achieve economies of scale, thereby reducing the total cost of production.

The research firm notes that the report has been prepared based on an in-depth market analysis with inputs from industry experts. “Global Nanophotonics Market 2016-2020” covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.