According to the latest report by IMARC Group, titled “OLED Materials Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global OLED materials industry analysis. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global OLED materials market size reached US$ 16.17 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 59.97 Billion by 2027, exhibiting a growth rate (CAGR) of 22.80% during 2022-2027.
Organic light-emitting diode or OLED materials represent lightweight and flexible organic materials stacked in several layers to manufacture OLEDs. They include hole transport materials (HTM), electron transport materials (ETM), hole injection materials, matrix materials, emitter materials, hole and electron blocking materials, etc. OLED materials are utilized for vaporization on flexible substrates and or glass and emit light when an electric field is applied to OLED devices. They offer bright colors, improved image quality, fast motion, and high contrast to displays. Consequently, OLED materials are extensively used in manufacturing displays and lighting products across the globe.
The inflating sales of consumer electronics, including laptops, smartphones, LED TVs, computers, printers, etc., across countries is among the key factors driving the OLED materials market. Additionally, the increasing awareness about the benefits of OLED displays over liquid crystal displays (LCDs) and the growing employment of OLED materials in automotive lighting are acting as significant growth-inducing factors.
Apart from this, the rising investments by leading manufacturers in research and development (R&D) activities to fabricate white OLEDs with a longer shelf life for solid-state lighting applications are also positively influencing the global market. Moreover, the shifting preferences toward OLED lighting in commercial spaces as an favorable alternative to existing lighting systems for reducing energy consumption is further catalyzing the market growth. Besides this, the escalating demand for enhanced viewing experiences and the elevating product application in augmented reality (AR) and virtual reality (VR) headsets are expected to propel the OLED materials market in the coming years.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 has been segmented the market into following categories:
Breakup by Product:
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
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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