The Global Market for Quantum Dots

Published February 2022 | 310 pages, 75 figures, 84 tables | Table of contents

The multi-billion dollar quantum dot-enabled TV market will experience further growth this year, with market innovations leading to enhanced products utilizing new configurations in displays, Micro-LEDs, security tagging, medical diagnostics, quantum computing and Agtech. QDs are a proven and scaled technology and relatively low cost for the high-end applications they add value to.

Quantum Dots (QDs) are used in a range of optoelectronic devices, including TVs and displays, light-emitting devices (LEDs), solar cells, photodiodes, thermoelectrics, photoconductors and field-effect transistors, while QD solutions have been used in a number of in vivo and in vitro imaging, sensing and labelling techniques.

Report contents include:

Quantum dot (QD) types, properties and production methods.
Global revenues for quantum dots, historical and market forecast to 2032, by type and market.
Supply chain analysis for quantum dots and narrow band phosphors.
Market drivers and trends.
Challenges, by market.
Analysis of QD market segments and the main players in each segment.
Assessment of quantum dots on glass, quantum dot colour filters (QDCF) for microLEDS and displays, hybrid QD-NBP displays, hybrid QD-OLED displays, perovskite QDs and inkjet printed QDs.
Assessment of graphene quantum dots and perovskite quantum dots market.
Market assessment of quantum dots in TV displays and smartphone displays, VR headsets, solar cells, security tags, security inks, sensors, quantum dot lasers, quantum dot transistors, photonic crystals, bio-imaging, quantum dot solar windows, biomarkers, solid-material-based memory, thermoelectric materials, quantum dot computers, Agtech, artificial photosynthesis and light emitting diodes (LEDs).
100 company profiles of quantum dot companies. Companies profiled include UbiQD, Applied Quantum Materials Inc., Bio Square, Inc., Dotz Nano, Ergis Group, Helio Display Materials, Nanoco Technologies, Nanosys, Nanolumi, Nextdot SAS, Qblox and many more.
List of Quantum Dot companies no longer trading.

1 EXECUTIVE SUMMARY 21

1.1 Growth in high definition TV demand 22
1.2 QD advantages 25
- 1.2.1 Market growth since 2013 26
1.3 QD-TVs market 26
1.4 The Quantum Dot TV market in 2021 27
1.5 The Quantum Dot TV market in 2022 28
- 1.5.1 Samsung QD-OLED displays 29
1.6 Cadmium vs. cadmium free 30
- 1.6.1 Cadmium QDs 31
- 1.6.2 Cadmium-free QDs 31
- 1.6.3 European commission ban use of cadmium in TVs and displays 31
- 1.6.4 Perovskite quantum dots 32
- 1.6.5 Carbon and graphene quantum dots 33
1.7 Quantum Dot Revenues 2015-2032 33
1.8 Market drivers and trends for quantum dots 35
1.9 Market outlook for quantum dots (5-10 years) 37
1.10 Market challenges for quantum dots 38
1.11 Assessment of impact from COVID-19 crisis by end user market 39

2 RESEARCH SCOPE AND METHODOLOGY 41

2.1 Report scope 41
2.2 Market definition 41
- 2.2.1 Categorization 42
2.3 Research methodology 43
2.4 Primary research 44
2.5 Secondary research 44

3 QUANTUM DOTS-PROPERTIES, SYNTHESIS, TYPES 45

3.1 Properties 45
3.2 Synthesis 47
3.3 Types 49
- 3.3.1 Cadmium Selenide, Cadmium Sulfide and other materials 49
- 3.3.2 Cadmium free quantum dots 49
3.4 Two-dimensional quantum dots 50
3.5 Carbon quantum dots (CDs) 50
- 3.5.1 Properties 50
- 3.5.2 Applications 52
3.6 Graphene quantum dots (GQDs) 52
- 3.6.1 Properties 53
- 3.6.2 Synthesis 54
- 3.6.3 Applications 55
  - 3.6.3.1 Pricing 56
- 3.6.4 Producers 56
3.7 Perovskite quantum dots (PQDs) 57
- 3.7.1 Properties 58
- 3.7.2 Comparison to conventional quantum dots 59
- 3.7.3 Synthesis methods 59
- 3.7.4 Applications 59
  - 3.7.4.1 Displays 60
- 3.7.5 Producers 61
3.8 Quantum rods 63
- 3.8.1 Properties 63
- 3.8.2 Applications 63
3.9 Narrow band gap phosphors 63

4 QUANTUM DOTS TECHNOLOGY READINESS (TRL) 64

5 QUANTUM DOTS INDUSTRY ANALYSIS 67

5.1 Licensing, collaborations and partnerships 67
5.2 Supply chain 69

6 QUANTUM DOTS REGULATIONS 71

6.1 Europe 72
- 6.1.1 Cadmium exemption in TVs and lighting 72
- 6.1.2 August 2017 ruling 73
6.2 United States 73
- 6.2.1 Low Volume Exemption (LVE) 74
- 6.2.2 New Chemicals Program 74
6.3 Asia 75

7 GLOBAL MARKET REVENUES FOR QUANTUM DOTS 76

7.1 Revenues 2013-2032 78

8 QUANTUM DOTS IN TVS/DISPLAYS 82

8.1 Market drivers and trends 82
8.2 LCDS vs. OLEDs vs. QD-LCDs/QLEDs 84
- 8.2.1 Liquid Crystal Displays (LCD) 84
8.3 QD-LCD TVs/QLEDs 86
8.4 Quantum dot enhancement film (QDEF) for current QLEDs 90
8.5 Quantum Dot on Glass (QDOG) 90
8.6 Quantum dot colour filters 91
8.7 Quantum dots on-chip 93
8.8 Electroluminescent quantum dots 93
8.9 MiniLED displays 94
- 8.9.1 Comparison to LCD and OLED 95
- 8.9.2 Advantages and disadvantages 96
- 8.9.3 Backplane types 97
- 8.9.3.1 Passive matrix driving miniLED 97
- 8.9.3.2 Active matrix driving miniLED 99
- 8.9.4 Costs 101
- 8.9.5 High dynamic range miniLED displays 102
- 8.9.6 Trends in MiniLED displays 104
- 8.9.7 Quantum dot films for miniLED displays 104
- 8.9.8 Perovskite colour enhancement film in MiniLEDs 105
8.10 MicroLEDs 106
- 8.10.1 Development 106
  - 8.10.1.1 Sony 107
- 8.10.2 Types 108
- 8.10.3 Comparison to LCD and OLED 109
- 8.10.4 MicroLED displays 110
- 8.10.5 Advantages 111
  - 8.10.5.1 Transparency 112
  - 8.10.5.2 Borderless 113
  - 8.10.5.3 Flexibility 114
- 8.10.6 Costs 114
- 8.10.7 Manufacturing 114
  - 8.10.7.1 Epitaxy and Chip Processing 115
    - 8.10.7.1.1 Uniformity 116
  - 8.10.7.2 Assembly Technologies 116
    - 8.10.7.2.1 Monolithic fabrication of microdisplays 116
    - 8.10.7.2.2 Mass transfer 118
    - 8.10.7.2.3 Mass Transfer Processes 119
      - 8.10.7.2.3.1 Elastomer Stamp Transfer 120
      - 8.10.7.2.3.2 Roll-to-Roll or Roll-to-Panel Imprinting 121
      - 8.10.7.2.3.3 Laser-induced forward transfer (LIFT) 122
      - 8.10.7.2.3.4 Electrostatic Transfer 123
      - 8.10.7.2.3.5 Micro vacuum-based transfer 124
      - 8.10.7.2.3.6 Adhesive Stamp 124
      - 8.10.7.2.3.7 Fluidically Self-Assembled Transfer 124
  - 8.10.7.3 Full colour conversion 125
    - 8.10.7.3.1 Phosphor Colour Conversion LEDs 127
    - 8.10.7.3.2 Quantum dots colour conversion 128
8.11 Flexible QD displays 128
- 8.11.1 Flexible QLEDs 129
- 8.11.2 Foldable QLED 130
8.12 Samsung QD Display 131
8.13 LG's "QNED" LCD TVs 133
8.14 Quantum dot LCD-based VR headsets 133
8.15 Narrow band phosphor LCDs 134
8.16 Hybrid QD-NBP 135
8.17 Industry and research developments 2013-2022 136
8.18 Global market for quantum dots in TVs and displays 139
- 8.18.1 QD-TV unit sales 2016-2032 139
- 8.18.2 QD Monitor Unit sales 2015-2032 142

9 QUANTUM DOTS IN PHOTOVOLTAICS 144

9.1 Market drivers and trends 145
9.2 Applications 147
- 9.2.1 Nanomaterials in solar cells 147
- 9.2.2 Advantages of quantum dots in photovoltaics 148
- 9.2.3 Types of quantum dot solar cells 149
  - 9.2.3.1 Metal—semiconductor/ Schottky QD junction solar cell 149
  - 9.2.3.2 Silicon/QD Film Hydrid Solar Cells 149
  - 9.2.3.3 Silicon/Graphene QD Film Hydrid Solar Cells 149
  - 9.2.3.4 Depleted-heterojunction QD solar cell 150
  - 9.2.3.5 QD-sensitized solar cells (QDSSC) 150
  - 9.2.3.6 Quantum dot solar windows 151
9.3 Market challenges 153
9.4 Industry and research developments 2013-2021 154
9.5 Global market for quantum dots in photovoltaics 155
9.6 Quantum dot photovoltaics companies 158

10 QUANTUM DOTS IN LIGHTING 159

10.1 Market drivers and trends 160
10.2 Applications 162
- 10.2.1 LED lighting 162
- 10.2.2 Horticultural lighting 164
10.3 Market challenges 165
10.4 Industry and research developments 2013-2021 166
10.5 Global market for quantum dots in LED lighting 166
10.6 Quantum dot lighting companies 169

11 QUANTUM DOTS IN BIOTECH AND MEDICINE 170

11.1 Market drivers and trends 172
11.2 Applications 175
- 11.2.1 Imaging and diagnostics 176
  - 11.2.1.1 Advantages 176
  - 11.2.1.2 Biomarkers 176
  - 11.2.1.3 Photodynamic therapy 177
  - 11.2.1.4 Point-of-care 177
- 11.2.2 Drug delivery 177
- 11.2.3 Photodynamic therapy 178
11.3 Market challenges 178
11.4 Global market for quantum dots in biotechnology and medicine 179
- 11.4.1 Imaging and diagnostics 180
- 11.4.2 Drug delivery 180
11.5 Quantum dot biotechnology and medicine companies 182

12 QUANTUM DOTS IN SECURITY AND ANTI-COUNTERFEITING 183

12.1 Market drivers and trends 184
12.2 Applications 185
12.3 Global market size for quantum dots in security and anti-counterfeiting 186
12.4 Quantum dot security and anti-counterfeiting Companies 188

13 QUANTUM DOTS IN SENSORS 190

13.1 Market drivers and trends 190
13.2 Applications 192
- 13.2.1 Food sensors 192
- 13.2.2 Chemical and gas sensors 193
- 13.2.3 Biosensors 193
- 13.2.4 Image sensors 194
13.3 Global market size for quantum dots in sensors 194
13.4 Market challenges 196
13.5 Quantum dot sensor companies 197

14 OTHER MARKETS 197

14.1 AgTech 198
- 14.1.1 Applications 198
- 14.1.2 Companies 198
14.2 Batteries 198
- 14.2.1 Properties 199
- 14.2.2 Applications 199
- 14.2.3 Companies 199
14.3 Thermoelectrics 201
- 14.3.1 Properties 201
- 14.3.2 Companies 201
14.4 QD Lasers 202
- 14.4.1 Applications 202
- 14.4.2 Companies 202
14.5 Photocatalysts 203
14.6 Spectrometers 203
14.7 Quantum computing 204
14.8 Hydrogen production 205
14.9 Autonomous vehicles 205

15 QUANTUM DOT PRODUCER AND PRODUCT DEVELOPER PROFILES 206 (100 company profiles)

16 QUANTUM DOTS COMPANIES NO LONGER TRADING 293

17 REFERENCES 297

List of Tables

Table 1: Market summary for the quantum dots market. 22
Table 2. Quantum dot display products. 24
Table 3. Total QD-based component revenues 2015-2032 ($M), conservative and optimistic estimates. 33
Table 4: Market drivers and trends for quantum dots. 35
Table 5: Impact of market drivers for the quantum dots market. 36
Table 6: Market challenges for quantum dots. 38
Table 7. Assessment of impact from COVID-19 crisis by end user market. Key: Low, little impact and market will continue to grow. Medium, market impacted to some degree affecting growth prospects over next 1-2 years. High: Market significantly impacted. 39
Table 8. Categorization of nanomaterials. 42
Table 9. Chemical synthesis of quantum dots. 48
Table 10: Applications of carbon quantum dots. 52
Table 11: Comparison of graphene QDs and semiconductor QDs. 53
Table 12. Graphene quantum dots producers. 56
Table 13. Comparative properties of conventional QDs and Perovskite QDs. 59
Table 14. Applications of perovskite QDs. 59
Table 15. Development roadmap for perovskite QDs. 60
Table 16. Properties of perovskite QLEDs comparative to OLED and QLED. 61
Table 17, Perovskite-based QD producers. 62
Table 18. Technology Readiness Level (TRL) Examples. 65
Table 19: Quantum dots market structure. 69
Table 20: Markets, benefits and applications of quantum dots. 76
Table 21: Total QD-based component revenues 2013-2032 ($M), conservative and optimistic estimates. 78
Table 22: Production of quantum dots. 81
Table 23: Market snapshot for quantum dots in TV/displays. 82
Table 24: Market drivers and trends for quantum dots in LCD TVs and Displays. 83
Table 25: Impact of market drivers for quantum dots in the LCD TVs/Displays market. 83
Table 26: Advantages and disadvantages of LCDs, OLEDs and QDs. 85
Table 27: Typical approaches for integrating QDs into displays. 88
Table 28: Current and planned Quantum Dot TVs by manufacturer, availability, size range and price range. 89
Table 29: QD colour filter options and advantages. 91
Table 30. Comparison between miniLED displays and other display types. 95
Table 31. Advantages and disadvantages of MiniLEDs. 96
Table 32. Comparison of AM and PM driving. 98
Table 33. MiniLED backlight costs. 102
Table 34. Comparison to conventional LEDs. 107
Table 35. Types of microLED. 108
Table 36. Comparison to LCD and OLED. 109
Table 37. Schematic comparison to LCD and OLED. 110
Table 38. Commercially available microLED products and specifications. 110
Table 39. microLED-based display advantages and disadvantages. 111
Table 40. Mass transfer methods, by company. 118
Table 41. Comparison of various mass transfer technologies. 119
Table 42: Commercial development and research highlights in quantum dots in LCDs and OLEDs 2013-2022. 136
Table 43: QD-TV unit sales 2016-2032, conservative and optimistic estimate for QDEF film and Non-QDEF film. 141
Table 44: Market snapshot for quantum dots in photovoltaics. 145
Table 45: Market drivers and trends in quantum dots in photovoltaics. 145
Table 46: Impact of market drivers for quantum dots in the photovoltaics market. 147
Table 47: Advantages of quantum dots in photovoltaics. 148
Table 48: Schottky QD Junction solar cells. 149
Table 49: Comparison of third generation solar cells. 151
Table 50: Market challenges rating for quantum dots in the solar market. 153
Table 51: Commercial development and research highlights in quantum dots in photovoltaics, 2013-2021. 154
Table 52: Total QD photovoltaic component revenues 2013-2032 $M), conservative and optimistic estimates. 156
Table 53: Quantum dots product and application developers in photovoltaics. 158
Table 54: Market snapshot for quantum dots in LED lighting. 159
Table 55: Market drivers and trends for quantum dots in LED lighting. 160
Table 56: Impact of market drivers for quantum dots in the LED lighting market. 162
Table 57: QD-LEDs and External quantum efficiencies (EQE). 164
Table 58: Market challenges rating for quantum dots in the lighting and UVC market. 165
Table 59: Commercial development and research highlights in quantum dots in LED lighting 2013-2021. 166
Table 60: Total QD LED lighting component revenues 2013-2032 ($M), conservative and optimistic estimates. 167
Table 61: Quantum dots product and application developers in lighting. 169
Table 62: Market snapshot for quantum dots in biotechnology and medicine market. 171
Table 63: Market drivers and trends for quantum dots in biotechnology and medicine. 172
Table 64: Impact of market drivers for quantum dots in the biotech and medicine market. 175
Table 65: Market challenges in imaging and diagnostics. 178
Table 66: Market challenges rating for quantum dots in the medical imaging and diagnostics market. 179
Table 67: Total QD revenues in biotechnology and medicine 2013-2032 ($M), conservative and optimistic estimates. 180
Table 68: Quantum dots product and application developers in biotechnology and medicine. 182
Table 69: Market snapshot for quantum dots in security and anti-counterfeiting. 184
Table 70: Market drivers and trends for quantum dots in security and anti-counterfeiting. 184
Table 71: Impact of market drivers for quantum dots in the security and anti-counterfeiting market. 185
Table 72: Total QD revenues in security and anti-counterfeiting 2013-2032 ($M), conservative and optimistic estimates. 186
Table 73: Quantum dots product and application developers in security. 188
Table 74: Overall market assessment for the quantum dots in the sensors market. 190
Table 75: Market drivers and trends for quantum dots in sensors. 190
Table 76: Impact of market drivers for quantum dots in the sensors market. 191
Table 77: Quantum dot sensors and applications. 192
Table 78: Total QD revenues in sensors 2013-2032 ($M), conservative and optimistic estimates. 194
Table 79: Market challenges rating for quantum dots in the sensors market. 196
Table 80: Quantum dots product and application developers in sensors. 197
Table 81: Quantum dots product and application developers in batteries. 200
Table 82: Quantum dots product and application developers in thermoelectrics. 201
Table 83: Quantum dots product and application developers in lasers. 202
Table 84. Quantum Dots companies no longer trading. 293

List of Figures

Figure 1: QLED TV from Samsung. 23
Figure 2. QD display products. 23
Figure 3: Samsung QDs utilized in range of QLED TVs. 27
Figure 4. Sony A95K Master XR TV. 29
Figure 5. Perovskite quantum dots under UV light. 32
Figure 6. Total QD component revenues 2013-2032 ($M), conservative and optimistic estimates. 34
Figure 7: Quantum dot schematic. 45
Figure 8. Quantum dot size and colour. 46
Figure 9. (a) Emission color and wavelength of QDs corresponding to their sizes (b) InP QDs; (c) InP/ZnSe/ZnS core-shell QDs. 47
Figure 10. Carbon dots development. 51
Figure 11: Schematic of (a) CQDs and (c) GQDs. HRTEM images of (b) C-dots and (d) GQDs showing combination of zigzag and armchair 54
Figure 12: Green-fluorescing graphene quantum dots. 55
Figure 13: Graphene quantum dots. 56
Figure 14. A pQLED device structure. 58
Figure 15: Perovskite quantum dots under UV light. 61
Figure 16: TRL quantum dots. 67
Figure 17: Schematic of typical commercialization route for quantum dots producer. 69
Figure 18: Total QD component revenues 2013-2032 ($M), conservative and optimistic estimates. 79
Figure 19: End user markets for QDs 2020, %. 80
Figure 20: End user markets for QDs 2031, %. 80
Figure 21: QD-TVsupply chain. 85
Figure 22: Quantum dot LED backlighting schematic. 87
Figure 23. Quantum dot film schematic. 90
Figure 24: Quantum Dots on Glass schematic. 91
Figure 25: Samsung 8K 65" QD Glass. 91
Figure 26: QD/OLED hybrid schematic. 93
Figure 27: Electroluminescent quantum dots schematic. 94
Figure 28. Schematic of LCD with MicroLED backlight. 94
Figure 29. Schematic for configuration of full colour microLED display 96
Figure 30. Comparison of AM and PM driving. 98
Figure 31. BOE glass-based backplane process. 100
Figure 32. MSI curved quantum dot miniLED display. 105
Figure 33. MicroLED schematic. 107
Figure 34. Pixels per inch roadmap of µ-LED displays from 2007 to 2019. 109
Figure 35. Comparison of microLED with other display technologies. 111
Figure 36. Lextar 10.6 inch transparent microLED display. 113
Figure 37. Transition to borderless design. 114
Figure 38. Schematics of a elastomer stamping, b electrostatic/electromagnetic transfer, c laser-assisted transfer and d fluid self-assembly. 120
Figure 39. Schematics of Roll-based mass transfer. 122
Figure 40. Schematic of laser-induced forward transfer technology. 123
Figure 41. Schematic of fluid self-assembly technology. 125
Figure 42. Schematic of colour conversion technology. 126
Figure 43. Process flow of a full-colour microdisplay. 127
Figure 44: Carbon nanotubes flexible, rechargeable yarn batteries incorporated into flexible, rechargeable yarn batteries. 129
Figure 45: Flexible & stretchable LEDs based on quantum dots. 130
Figure 46. Schematic of QD-OLED hybrid. 132
Figure 47. Reality 12K QLED VR. 133
Figure 48: QD-TV unit sales 2016-2032, conservative estimates. 140
Figure 49: QD-TV unit sales 2016-2032, optimistic estimates. 141
Figure 50: QD Monitor Unit sales 2015-2032. 143
Figure 51: (a) Schematic of Schottky barrier quantum dots based solar cell. 149
Figure 52: Schematic of QD Solar Cell. 150
Figure 53: Doped quantum dot LSC. 151
Figure 54: QD coated solar windows. 152
Figure 55: A layer of highly emissive manganese-doped quantum dots onto the outside surface of the outer glass pane (top layer on the left image below) and a layer of copper indium selenide quantum dots onto the inner surface of the inside (bottom) pane. 152
Figure 56: QDSSC Module. 153
Figure 57: Total QD photovoltaics component revenues 2013-2032 ($100,000s), conservative and optimistic estimates. 157
Figure 58: Fourth generation QD-LEDs. 163
Figure 59: Total QD LED lighting component revenues 2013-2032 ($M), conservative and optimistic estimates. 168
Figure 60: Total QD revenues in biotechnology and medicine revenues 2013-2032 ($M), conservative and optimistic estimates. 181
Figure 61: Total QD revenues in in anti-counterfeiting and security 2013-2032 ($M), conservative and optimistic estimates. 187
Figure 62: Total QD revenues in in sensors 2013-2032 ($M), conservative and optimistic estimates. 195
Figure 63: StoreDot battery charger. 200
Figure 64: Schematic of QD laser device. 202
Figure 65: Quantum dot spectrometer. 204
Figure 66. AU 85" bezel-less quantum dot TV. 209
Figure 67: InP/ZnS, perovskite quantum dots and silicon resin composite under UV illumination. 228
Figure 68: Quantum dots tag on plastic bottle. 234
Figure 69. QDSSC Module. 240
Figure 70: Quantum dot sheet. 251
Figure 71. Green perovskite QD film for LCD color conversion. 266
Figure 72. SQ dots production process. 278
Figure 73. Infrared QD sensor company. 281
Figure 74. CQD™ photodiode schematic 282
Figure 75. TCL QLED TVs. 283

The Global Market for Quantum Dot Materials and Technologies 2022-2032

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