IMARC Group, a leading market research company, has recently releases report titled “OLED Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global OLED materials market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
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.
What are OLED Materials?
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.
What Are The Growth Prospects And Trends In The OLED Materials Industry?
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.
What Is Included In Market Segmentation?
The report has segmented the market into the following categories:
Breakup by Type:
- Hole Injection Layer (HIL)
- Hole Transport Layer (HTL)
- Electron Transport Layer (ETL)
- Emissive Layer (EML)
Breakup by Application:
- Television and Monitors
- Notebooks and Tablets
Breakup by End Use:
- Residential Products
- Commercial Products
- Industrial Products
Market 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
Who Are The Key Players Operating In The Industry?
The report covers the major market players including:
- 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.
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