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

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.