Industry Overview of OLED Materials Market
Organic light-emitting diode (OLED) materials refer to lightweight and flexible materials that are utilized to manufacture display panels in devices, such as computer monitors, smartphones, television screens, handheld game consoles, personal digital assistants (PDAs), etc. They offer enhanced image quality, fast motion, bright colors, very high contrast, etc. OLED materials also provide thinner, flexible, and lighter displays, owing to the elimination of backlights and their simple construction. They offer various benefits, including fast response time, superior viewing angle, small size form factors, etc. Consequently, OLED materials are extensively utilized in the production of consumer electronics across the globe.
How Big Is the OLED Materials Market?
The global OLED materials market size reached US$ 20.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 73.3 Billion by 2028, exhibiting a growth rate (CAGR) of 22.2% during 2023-2028.
OLED Materials Market Trends and Drivers:
The widespread adoption of wireless devices with high bandwidth capability to maintain connectivity in remote areas without the need for long cable wires is primarily driving the OLED materials market. Additionally, continuous advancements in lighting technology and the increasing utilization of passenger vehicles are further bolstering the market growth. Besides this, the expanding automotive sector and extensive investments in R&D activities to introduce white OLED devices for solid-state lighting applications are acting as significant growth-inducing factors. Moreover, the growing consumer awareness towards the benefits of OLED displays over (LCDs) is positively influencing the global market. Apart from this, the rising usage of consumer electronics, such as laptops, smartphones, computers, printers, etc., and the inflating need for better viewing experiences are also stimulating the market growth. Furthermore, the development of Augmented Reality (AR) and Virtual Reality (VR) headsets is anticipated to fuel the OLED materials market over the forecasted period.
Global OLED Materials Market 2023-2028 Analysis and Segmentation:
DuPont de Nemours Inc., Heraeus Holding GmbH, Hodogaya Chemical Co. Ltd., Idemitsu Kosan Co. Ltd., LG Chem Ltd., Merck KGaA, Samsung SDI Co. Ltd., Sumitomo Chemical Co. Ltd., Tokyo Chemical Industry Co. Ltd. and Universal Display Corporation.
The report segmented the market based on region, type, application and end use.
Breakup by Type:
- Substrates
- Encapsulation
- Anode
- Hole Injection Layer (HIL)
- Hole Transport Layer (HTL)
- Electron Transport Layer (ETL)
- Emissive Layer (EML)
- Cathode
Breakup by Application:
- Display
- Television and Monitors
- Smartphones
- Notebooks and Tablets
- Automotive
- Others
- Lighting
Breakup by End Use:
- Residential Products
- Commercial Products
- Industrial Products
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
The key regions covered in the market report are Asia Pacific, Europe, North America, Latin America, Middle East and Africa.
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
