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Global Electroluminescent (EL) Panels Market to Grow at a CAGR of 7% During 2021-2026, Driven by the Shift to Solar-Powered, Eco-friendly Devices

According to a new report by EMR titled, ‘Global Electroluminescent (EL) Panels Market Report and Forecast 2021-2026’, the global market for electroluminescent (EL) panels is expected to grow at a CAGR of about 7% in the forecast period of 2021-2026.

The global EL panels market is being driven by the rising trend of low-cost, energy-efficient displays being used in various industries, especially in the developing countries of the Asia Pacific region. In developed countries, the demand is being driven by the need for solar-powered devices in industries. For example, in the defence industry, there is a high requirement for long battery-life and solar-powered devices. EL panels are ideal for this due to their low energy requirements and compatibility with solar cells. Similar uses are seen in the construction, automotive, and aircraft industry as well.

Cochief Industrial Co. Ltd., based in Taiwan, is one of the leading manufacturers of EL panels. In 2016, due to the increasing growth of the consumer electronics sector, Cochief introduced the Flexible Touch Switch combined with an EL panel backlight to replace traditional switches or membrane keyboards. This product is expected to increase the application of EL panels in consumer electronics products and, also, in the automotive sector. In 2017, Cochief released EL Wall Stickers, further probing into the consumer electronics sector by releasing products illuminated by EL panels for home decoration. The company is currently involved in the mass production of flexible EL panels, which is seeing a rise in growth due to the early development of the folding displays and wearable electronics sector. Technolight, another leading EL panel manufacturer based in the US, is also currently producing lightweight, flexible EL panels of various shapes and sizes. The rapid growth of global e-commerce companies such as, Inc. (NASDAQ: AMZN) and Alibaba Group (HKG: 9988) is also responsible for driving the consumer electronics sector, which in turn, is boosting the sales of EL panels.

Market Analysis by Shape, Colour, Application, and Regions:

  • The market on the basis of shape can be divided into rectangle, square, strip, round, and others.
  • Based on colour, the industry can be divided into white, blue, green, and red, among others.
  • The major applications for EL panels include advertising displays, construction, automotive industry, aircraft, defence, signs, and consumer electronics, among others.
  • The regional markets for EL panels include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global EL panels market is being driven by the rising demand for energy-efficient displays.
  • The shift to digital devices from physical/analogue, especially in developing regions in the Asia Pacific, is expected to contribute to the steady growth of the EL panels market.
  • The rise in the use of solar cell powered appliances in several industries is driving the growth of the industry globally.
  • The foldable and wearable electronics market, while still in its early stages, is expected to bolster growth for EL panels in the forecast period of 2021-2026.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for electroluminescent (EL) panels for the periods (2016-2020) and (2021-2026).
  • The report also offers the historical (2016-2020) and forecast (2021-2026) market information for shapes, colours, applications, and regional markets of EL panels.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global electroluminescent (EL) panels market are Cochief Industrial Co., Ltd., Nejilock Technology Pte Ltd, Technolight, Ellumiglow, Aircraft Engineering & Installation Services Inc., Shanghai Keyan Phosphor Technology Co.,Ltd. (KPT), and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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