Market Research Future (MRFR) has published a cooked research report on the “Global OLED Materials Market”
The OLED Materials market is estimated to register a CAGR of 22.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global OLED Materials market— Sigma-Aldrich Co. LLC., Dupont, Novaled GmBH, Merck KgAA, Lg Chem, TCI America, Sumitomo Chemical, Universal Display, The Dow Chemical Company, Idemitsu Kosan
The global OLED Materials market is accounted to register a CAGR of 22.50% during the forecast period and is estimated to reach USD 129.2 Billion by 2032.
A technology known as an organic light-emitting diode (OLED) uses organic molecules to produce light. By sandwiching a number of organic thin films between two conductors, it is used to create display panels for gadgets like televisions, computer displays, cellphones, handheld game consoles, and personal digital assistants (PDAs). It provides displays with improved image clarity, vibrant colors, quick motion, and extremely high contrast. Due to the absence of backlights and the straightforward nature of its design, it also offers displays that are lighter, more flexible, and thinner. In addition to this, it has a number of benefits, including an excellent viewing angle, a quick response time, and a compact form factor.
The global OLED Materials market has been segmented based on type, application, and end user.
On the basis of type, the market is segmented into substrates, encapsulation, anode, HIL, HTL, ETL, EML, and cathode. The substrates category dominated the global market in 2022. This is caused by the accessibility at low cost and expanding use of electronic devices like smartphones, televisions, etc. On substrates, OLEDs are constructed. As of June 2021, Samsung will have a stretchable OLED display for wearables.
On the basis of application, the market is segmented into display and lighting. The display industry led the global market for OLED Materials in 2022. In comparison to previous display technologies, OLED materials offer a superior display. OLED components are used in telephones due to their robust design.
On the basis of end-user, the market is segmented into residential, commercial, and industrial. The residential end-user segment dominated the global market in 2022. One would suppose that the growth of OLED materials and the development of the construction industry go hand in hand.
The global OLED materials market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe OLED Materials market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The OLED Materials market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World OLED Materials market comprises of Middle East, Africa, and Latin America.
Due to the growing use of OLED displays in smartphones, televisions, and other electronic devices, North America will hold a disproportionately large share of the global OLED materials market in 2022. With a large concentration on technological breakthroughs and a presence of OLED display makers, the United States is a major player in the market. High levels of R&D activity, partnerships between OLED material suppliers and display producers, and rising demand for energy-efficient and high-performance displays are the market's defining traits.
The desire for energy-efficient lighting solutions, the use of OLED displays in automotive applications, and the expansion of the consumer electronics industry have all contributed to the Europe market's consistent rise over the course of the projected period. The market is dominated by nations like Germany, France, and the United Kingdom. The research of cutting-edge technologies like flexible and transparent OLEDs, as well as the development of OLED materials for uses like lighting, signage, and displays, are prioritized in the European market.
Due to the existence of significant OLED display manufacturers, the expansion of the consumer electronics industry, and the rising demand for OLED lighting, the Asia Pacific OLED materials market is anticipated to grow at the quickest rate. Major market participants include South Korea, Japan, China, and Taiwan. The region is distinguished by a heavy emphasis on the production of OLED displays, technological developments, and investment in R&D activities.
In addition, the Middle East, Africa, and Latin America make up the remainder of the world's OLED materials market. This expansion is ascribed to factors such as rising urbanization, improved infrastructure, and the use of cutting-edge lighting technologies.
Key Findings of the Study