Electronic displays are one of the fastest growing worldwide technologies. Once reserved for televisions and computers and composed of large cathode ray tubes (CRT), displays have become ubiquitous and have taken different forms. Flat panel displays are overtaking the CRT and are being used in larger quantities for portable computers, a variety of handheld devices, desktop computers and televisions. Tiny microdisplays are being used in projection televisions and for "near-eye" applications, where a virtual screen is presented to the viewer. The world of displays is changing to meet the evolving needs of the electronic device user.

According to a soon-to-be-released updated report from Business Communications Company, Inc, RGB-203N Major Display Materials: Markets, Technologies, the value of worldwide shipments of display materials reached $12 billion in 2002. Shipments of materials are projected to reach $13.6 billion in 2003 and then grow at an AAGR (average annual growth rate) of 10.9% to total $22.9 billion by 2008.

Flat panel displays accounted for 54.6% of the total materials in 2002 and are projected to account for 57.2% of materials in 2003. Their value is projected to grow at an AAGR of 16.5% and account for 73.2% of the total by 2008.

The value of CRT glass represented over 88% of all CRT materials used, or $5.1 billion, in 2003 and will rise at an AAGR of just 1% to reach $5.3 billion by 2008. The value of flat panel glass shipments will increase at an AAGR of 16.4% and grow from $1.9 billion in 2003 to $4.2 billion in 2008. Worldwide shipments of coating materials for CRTs and FPDs will grow at AAGRs of 0.8% and 18.8% respectively.

Phosphor shipments for CRTs are projected to increase at an AAGR of 1.1% through 2008. Meanwhile, phosphors used for flat panel displays will grow at an average annual rate of 11.9% during the period.

Elsewhere, the value of liquid crystal shipments will grow at an AAGR of 20.4% through 2008 as this technology continues to expand. Worldwide shipments of color filters for flat panel displays will increase strongly, at an average annual rate of 18.4%.

Shipments of polarizers reached $675 million in 2002 and are expected to grow by 22.5% to reach $826 million in 2003. They are then projected to grow at an AAGR of 21% to total $2.1 billion by 2008.

In newer parts of the display market, materials for OLED displays, including chemical compounds and polymers, will grow at an average annual rate of 29.2% through 2008. Components for new display technologies, such as MEMS-driven displays and those using carbon nanotubes, are expected to experience an average annual growth rate of 19.3% during our forecast period.