Market Research Report
Global OLED Materials Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023
|Published by||Occams Business Research & Consulting Pvt. Ltd.||Product code||603560|
|Published||Content info||190 Pages
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|Global OLED Materials Market Insights, Opportunity Analysis, Market Shares and Forecast, 2017 - 2023|
|Published: January 25, 2018||Content info: 190 Pages||
OLED (Organic light-emitting diode) is a light emitting diode in which organic compound layer emits light in response to electric current. Organic semi-conductor layer is layered between two electrodes out of which one is transparent electrode. Global market of OLED materials is growing at a CAGR of 26.1% for the forecast period 2015-2023. Increasing application of OLED in automotive industry, increase in demand for OLED in smartphone and increasing consumer disposable income are the growth drivers for the market. For instance, the leading firms in automotive industry such as Audi, BMW and Mercedes are adopting OLED technology due to high benefits of OLED such as, 3D effects capability, thinner film, transparency and clarity. Further, Audi is launching OLED taillights in its TT RS model and leading automobile companies such as, Mercedes and BMW have also adopted OLED in its premium models. Thus, the increasing adoption of OLED technology in automotive industry by major market players is driving overall growth in demand of OLED materials. Further OLED display market is growing significantly which also contributes to the demand for OLED materials as materials are deployed in manufacturing process of OLED enabled displays for various consumer electronics. For instance, in 2017, Apple Inc. invested $2.70 billion in LG Display Company to develop OLED panels for Apple. This OLED display manufactured by LG would be deployed in iPhones series display. LG in return for this investment is expected to supply around 45,000 OLED panels per month to Apple in 2019. Further, according to Pew Research Centre, the rise in smartphone users has increased in 2016. The total global smartphone user population has increased from 55% in 2014 to approximately 77% in 2016 which shows an increasing demand and adoption of smartphone market. Whereas, fragmented market and limited life span of materials are the growth restricting factors in the global OLED materials market.
Asia pacific is expected to hold dominance in terms of largest revenue and market share for the forecast period 2016-2023 due to presence of giant firms deploying OLED technology such as, LG display, Samsung, BOE and others, which are increasing their investment and product launches in OLED technologies. Whereas, Asia-pacific is expecting to grow at a faster pace for the forecast period 2016-2013 due to increasing market of OLED display in the region because of high demand of consumer electronics.
Application segment in global OLED material market is expected to dominate the market during forecast period 2016-2023 due to high adoption of OLED technology in display segment. In application segment, display segment is expected to account highest growth in terms of revenue due to the increasing adoption OLED technology in smartphone display manufacturing.