Photonic crystals refer to an optical nanostructure with exceptional light manipulation properties. These attributes make photonic crystals very usable in a variety of applications. From installing them in smart windows of a building for improved heat regulation and power consumption to integrating the 2D photonic crystals in thermophotovoltaic applications. The economic viability of photonic crystals is growing. Of late, they are being used to develop next-gen display units. These displays use quantum dots (QD) to provide fine spectral linewidth which makes the display more efficient and capable of displaying a wider range of colours. Photonic crystals are used in manufacturing QD LED displays. As the technologies pertaining to photonic crystals continue to improve, their demand is expected to surge in the years to come. In such a business landscape, the global photonic crystals market is expected to grow at a sound pace.
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Application in Energy-efficient Smart Windows to Stimulate Long-term Growth of Photonic Crystals Market
Against the backdrop of escalating environmental challenges and carbon emissions, many existing components are being equipped with sustainable technologies. Consequently, photonic crystals are being used to develop cutting-edge smart windows. This innovation plays into the theme of minimising energy consumption by using advanced materials in construction. Smart windows are emerging as an eco-friendly and energy-efficient alternative to conventional glass windows. Photonic crystals in smart windows enable regulating solar radiation and stop commercial and residential buildings from overheating. Such applications are boosting the demand for smart windows across the globe. This is poised to facilitate the growth of the global photonic crystals market in the forecast years.
Surging Demand for 2D Photonic Crystals to Create Further Growth Prospects for Photonic Crystals Market
Of late, the demand for 2D photonic crystals has surged considerably due to their unique and desirable light manipulation properties. Besides, thermophotovoltaic systems are being actively integrated with power sensors, portable computational and communication devices, portable generators, small robotic platforms, and other related applications. These factors are boosting the demand for 2d photonic crystals across the globe. Modern high-performance thermophotovoltaic systems have spectral tailoring with a wide range of angles and thermal radiation. They are also an integral part of modern optical computers and biomolecular sensors. All these innovations are collectively stimulating the paced expansion of the global photovoltaic crystals market.
Asia Pacific to Lead Photonic Crystals Market Owing to Thriving Electronics Industry
Soaring demand for LED displays and the presence of favourable government norms to support the adoption of solar cells are assisting the growth of the photonic crystals market in Asia Pacific. Leading regional economies such as India, China, South Korea, and Japan are some of the key contributors to setting this positive market precedent. All these countries have a high demand for smartphones, TVs, and tablets equipped with LED displays. Moreover, the positive currents in the region’s electronics sectors are expected to sustain the healthy growth momentum in the study period.
Leading Market Players
The most competitive players in the global photonic crystals market include NeoPhotonics, DK Photonics, IPG Photonics Corporation, Corning Inc., NEC Corporation, NKT Photonics, and Opalux Inc.
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