OLED Materials Market Trends

Global OLED Materials Market Overview

OLED Materials Market Size was valued at USD 20.8 Billion in 2022. The OLED Materials market is projected to grow from USD 25.5 Billion in 2023 to USD 129.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.50% during the forecast period (2023 - 2032). Population growth, rising consumer disposable income, and escalating demand for cellular technology, are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

OLED Materials Market Trends

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  The increasing utilization of wireless devices to maintain connectivity in remote areas is driving the market growth

  
  

Global demand for OLED materials is rising as a result of the growing use of wireless devices to sustain connectivity in faraway locations without the need for long cable cables. This is one of the main drivers influencing the industry, along with the rising demand for fixed wireless devices due to their high bandwidth capabilities. In addition, the market is expanding due to the growing use of OLED materials in the automobile industry as a result of an increase in SUV sales and advances in lighting technology. Additionally, the manufacturing and sales of passenger vehicles are rising globally. This is helping the market, together with the expanding automobile industry. In addition, major market players are heavily funding R&D initiatives to produce white OLED devices for solid-state lighting applications, which is driving up demand for OLED materials. In addition, growing public awareness of the advantages of OLED displays over LCDs is providing industry investors with lucrative development prospects. Additionally, the industry is expanding as a result of the rising demand for consumer gadgets including laptops, cellphones, PCs, and printers.

The market is driven by cutting-edge technologies and large research investments made by several businesses worldwide as a result of the rising sales of smartphones, LEDs, digital displays, and wireless technology devices globally. Numerous businesses have contributed to and supported OLED research, which has stimulated the demand for OLED materials. Due to firms' increased ability to experiment and innovate as a result of cutting-edge technology, the market for OLED materials has grown. The market has expanded as a result of a number of factors, including the quick adoption of OLED displays in smartphones, the high demand for better viewing experiences from smartphone and television users, and rising demand for active-matrix organic light-emitting diode (AMOLED) displays in sectors like augmented reality and virtual reality (AR/VR).

For instance, in 2018, during the 2018 Samsung OLED Forum, Samsung displayed their research plan, which includes breakthroughs for OLEDs such as the Fingerprint on Display, Under Panel Sensor, Haptic on Display, and Sound on Display. In Dresden, Germany, the Novaled Company inaugurated a new headquarters and R&D facility for cutting-edge OLED technology in 2019. Researchers at Queensland University of Technology (QUT) suggested using human hair, a natural supply of carbon and nitrogen, to make OLED displays around 2020. If successful, this would significantly lower the cost of producing OLEDs. Thus, driving the OLED Materials market revenue.

OLED Materials Market Segment Insights

OLED Materials Type Insights

The OLED Materials Market segmentation, based on type, includes substrates, encapsulation, anode, HIL, HTL, ETL, EML, and cathode. In 2022, the substrates category dominated the world market. The availability at low cost and growing use of electronic devices like smartphones, televisions, etc. are to blame for this. OLEDs are built on substrates. Samsung is developing a stretchable OLED display for wearables as of June 2021. Samsung's prototype OLED flexible skin can be extended up to 30% without experiencing performance deterioration. This will help the substrate segment flourish since it will draw attention to new technology developments and present new growth opportunities for businesses.

OLED Materials Application Insights

The OLED Materials Market segmentation, based on application, includes display and lighting. In 2022, the worldwide OLED materials market was dominated by the display segment. When compared to other display systems, OLED materials provide an excellent display. OLED materials are employed in cellphones because of their durable construction.  Sales of smartphones during the anticipated period have been driven by rising consumer expenditure in all regions. Due to the increasing need for mobile internet services and apps as well as the requirement for real-time information transmission, the worldwide smartphone market is anticipated to experience considerable demand growth. The market is anticipated to be driven by rising disposable income in general and in the Asia Pacific region in particular.

OLED Materials End User Insights

The OLED Materials Market segmentation, based on end user, includes residential, commercial, and industrial. In 2022, the residential category dominated the world market. One might assume that the expansion of OLED materials is directly correlated with the expansion of the construction sector. Commercial buildings like offices, retail stores, malls, hospitals, and restaurants among others use OLED lighting. For building owners, governments, utilities, and other stakeholders, cutting energy use has become a top priority. One option to cut the enormous pool of energy use is to replace existing lights with OLED lighting.

Figure 1: OLED Materials Market, by End User, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

OLED Materials Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America OLED Materials Market dominated this market in 2022 (45.80%). This is a result of their rising technological advantage over other parts of the world and their continued technological growth. Due to having the finest quality LED products and designs in the globe, the North American region holds about 30% of the market for LED products, followed by Europe at 17%. Further, the U.S. OLED Materials market held the largest market share, and the Canada OLED Materials market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: OLED MATERIALS MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe OLED Materials market accounted for the healthy market share in 2022. This can be attributable to rising disposable income and rising demand for this material. Further, the German OLED Materials market held the largest market share, and the U.K OLED Materials market was the fastest growing market in the European region

The Asia Pacific OLED Materials market is expected to register significant growth from 2023 to 2032. The economy of APAC is mostly driven by the economic dynamics of nations like China and India, although the current situation is changing due to an increase in foreign direct investment for the growth of South East Asia's economy. Construction and the automotive industries are expanding rapidly in South East Asian nations. Moreover, China’s OLED Materials market held the largest market share, and the Indian OLED Materials market was the fastest growing market in the Asia-Pacific region.

OLED Materials Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the OLED Materials market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, OLED Materials industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global OLED Materials industry to benefit clients and increase the market sector. In recent years, the OLED Materials industry has offered some of the most significant advantages to medicine. Major players in the OLED Materials market, including Sigma-Aldrich Co. LLC., Dupont, Novaled GmBH, Merck KgAA, Lg Chem, TCI America, Sumitomo Chemical, Universal Display, The Dow Chemical Company, Idemitsu Kosan, are attempting to increase market demand by investing in research and development operations.

A provider of optoelectronic solutions is AUO Corp (AUO), formerly known as AU Optronics Corp. The business develops, produces, assembles, and designs a variety of panel display products. Its panels are mostly utilised in televisions, monitors, wearable technology, mobile technology, commercial applications, and other things. The business produces solar products such solar wafers, ingots, cells, and modules. For solar system projects, AUO also provides technical engineering services and maintenance services. True-circle displays, which are round AMOLED displays with thinner salient edges than the current round OLED displays from AU Optronics, were created in May 2017.

Developed by Kateeva, inkjet printing machinery is used to create organic light-emitting diode (OLED) displays. The company's equipment solutions are utilised to mass-produce flat panel displays that are category-defining and have the ability to print billions of pixels quickly. This new wave of innovation helped bring flexible and foldable display goods to the worldwide market. Developer of OLED inkjet printing Kateeva declared in 2021 that it has partnered strategically with the producer of high-index materials Pixelligent Technologies. By printing planarization layers onto micro lens arrays using an inkjet printer, the cooperation intends to maximise the light output efficiency.

Key Companies in the OLED Materials market include

• Sigma-Aldrich Co. LLC.


• Dupont


• Novaled GmBH


• Merck KgAA


• Lg Chem


• TCI America


• Sumitomo Chemical


• Universal Display


• The Dow Chemical Company


• Idemitsu Kosan

OLED Materials Industry Developments

June 2020: In order to produce OLED displays at a significantly lower cost, researchers at Queensland University of Technology (QUT) suggested using human hair, which is a natural source of carbon and nitrogen.

OLED Materials Market Segmentation

OLED Materials Type Outlook

• Substrates


• Encapsulation


• Anode


• HIL


• HTL


• ETL


• EML


• Cathode

OLED Materials Application Outlook

• Display


• Lighting

OLED Materials End User Outlook

• Residential


• Commercial


• Industrial

OLED Materials Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America