Quantum dots are at the forefront of technological innovation in various industries, from renewable energy and biomedical applications to display technology.
These tiny semiconductor nanocrystals emit light in specific colours depending on their size and composition, which can range from ultraviolet to infrared wavelengths. Their unique properties, including wide absorption spectra, high quantum yield, substantial Stokes shift, excellent photostability, and high molar extinction coefficients, make them indispensable in modern technology.
The renewable energy sector benefits significantly from quantum dots, particularly solar energy conversion. Quantum dot solar cells (QDSC) have enhanced solar energy conversion efficiency, leading to more effective electricity production while reducing excess heat generation. This improvement is crucial for developing cost-effective and sustainable solar energy solutions.
In the biomedical field, quantum dots are revolutionising medical imaging and biosensors, providing critical advancements in diagnosing and treating chronic diseases like cancer. Their precise imaging capabilities and targeted drug delivery systems are pivotal in medical technology.
Display technology is another area where quantum dots have made a significant impact. They offer several advantages over traditional display materials, such as longer lifespan, vibrant colours, cost-effective production, and lower power consumption, making them essential in the evolution of next-generation display technologies.
Reflecting their growing importance, the global market for quantum dots reached US$ 6.5 billion in 2022 and is projected to expand to US$ 25.4 billion by 2028, growing at a CAGR of 23.4% from 2023 to 2028. This expansion highlights the increasing demand for quantum dots across various applications.
The market’s growth is further driven by the increasing replacement of traditional fluorophores with quantum dots in applications like microarrays, immunoassays, and fluorescence imaging. With their numerous advantages, quantum dot-based materials pave the way for the cost-efficient production of innovative technologies.
Among the key companies contributing to this dynamic market are QD Vision and Cyrium Technologies. With an investment exceeding USD 130 million, QD Vision specialises in quantum dot technology solutions for display applications. The company supplies quantum dot display substrates to original equipment manufacturers (OEMs) and boasts nearly 250 patents in proprietary display technology.
Having secured USD 21 million in investment, Cerium Technologies focuses on quantum dot-enhanced Concentrated Photovoltaic (CPV) technology. They provide concentrated PV solar cells enhanced with quantum dots, improving cell performance and offering their customers the lowest overall cost of ownership.
Conclusion
The quantum dots market is poised for remarkable growth, driven by their unparalleled capabilities in various industries. As a cornerstone of technological progress, quantum dots set the stage for a future prosperous in innovation and advancement. The contributions of key players in this field are enhancing current applications and paving the way for novel discoveries in nanotechnology.
COMPANIES TO WATCH:
Altairnano, ams-OSRAM International GmbH, LG Display Co. Ltd, Nanoco Group plc., Nanosys Inc., Ocean NanoTech LLC, QD Laser, Quantum Materials Corp., Samsung Display Co. Ltd., Thermo Fisher Scientific Inc.
Author:
Kate Sivess-Symes
Content Producer and Writer
Nano Magazine | The Breakthrough
