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The latest report by IMARC, titled “ OLED Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 20232028
” finds that the global OLED materials market size reached US$ 20.4 Billion in 2022.
Organic light-emitting diode (OLED) materials are lightweight and flexible organic materials stacked in multiple layers to manufacture OLEDs. They are evaporated to fabricate OLED displays, which consist of several thin organic layers between two electrodes. Some commonly used OLED materials include electron transport materials (ETM), hole transport materials (HTM), hole injection materials, matrix materials, emitter materials, and hole and electron blocking materials.
They are utilized for vaporization on glass or flexible substrates and emit light when an electric field is applied to OLED devices. They provide bright colors, fast motion, enhanced image quality, and very high contrast to displays. As a result, OLED materials are widely used to manufacture display panels for electronic devices, including smartphones, television screens, computer monitors, handheld game consoles, and personal digital assistants (PDAs).
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The surging sales of consumer electronics, such as laptops, smartphones, LED TVs, computers, and printers, represent the primary factor driving the market growth. Moreover, due to their high bandwidth, the growing usage of fixed wireless devices to maintain connectivity in remote regions without the need for long cable wires has augmented the demand for OLED materials. Additionally, there has been a significant rise in awareness regarding the benefits of OLED displays over liquid crystal displays (LCDs). In line with this, the increasing applications of OLED materials in automotive lighting and the escalating demand for SUVs have accelerated product adoption rates. Besides this, the expanding automotive sector, coupled with the rising production and sales of passenger vehicles and electric vehicles (EVs), is positively influencing the market growth.
Furthermore, the leading manufacturers are engaging in research and development (R&D) activities to fabricate white OLEDs with a longer shelf life for solid-state lighting applications. Along with this, the widespread adoption of OLED lighting in commercial spaces as an alternative to existing lighting systems to lower energy consumption has propelled market growth. Other factors, including the rising preferences for better viewing experiences, emerging applications in augmented reality (AR) and virtual reality (VR) headsets, and rapid advancements in OLED technology, are also providing a positive impact on the market growth. Looking forward, IMARC Group expects the market value to reach US$ 73.3 Billion by 2028, growing at a CAGR of 22.2% during 2023-2028.
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
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
Competitive Landscape with Key Players:
• 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.
• Universal Display Corporation
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/oled-materials-market
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