Global Indium Gallium Zinc Oxide Market Restraints:
Increasing use of low-temperature polycrystalline silicon (LTPS)
The market is witnessing negative growth slope due to increasing use of low-temperature polycrystalline silicon (LTPS) and other advanced medical device.
Outbreak of Covid-19 pandemic
COVID-19 pandemic had disrupted the production and supply chain which led to the price fluctuations. The sales of electronic companies have faced decline sales. For instance, in late March 2020, Xiaomi, Lenovo-Motorola, and Lava shut their handset factories across India as per the government’s directive on lockdowns.
Global Indium Gallium Zinc Oxide Market Drivers:
Growing advancement in high-resolution technologies to augment market growth
Increasing demand for connected devices and development of smart homes and building are primarily fueling growth of the IGZO market. Growing adoption of high-end display across electronics sector is again fostering market growth.
Integration of high-end resolution displays in consumer electronics to propel market growth
For instance, in 2021, more companies are providing 8K TVs and 4K monitors with 3D view and motion sensor technology, augmenting the advancement in high resolutions technologies and increasing the demand of the product. During the year, 75- to 85-inch models are projected to be more popular compared to 65-inch during the previous year.
Global Indium Gallium Zinc Oxide Market Opportunities:
Increasing investment in the IGZO is projected to provide potential market opportunities. For instance, in July 2021, Samsung Display and LG Display investing more than KRW 7 trillion in small and medium-sized organic light- emitting diode (OLED) production lines in the second half of the year. This is to prepare for the increase in demand for small and medium-sized OLEDs, drawing attention to the vitalization of downstream industries, such as OLED 'materials, parts, and equipment'.
Growing focus on increasing production capacity among key players is projected to offer significant growth opportunities. For instance, in December 2021, China Star Optoelectronics Technology (CSOT), a China-based display panel maker belonging to the TCL Group, is setting up an 8.6G oxide TFT-LCD production line with production scheduled to begin in first-quarter 2023.
Indium Gallium Zinc Oxide Market Report Snapshots
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