An organic light-emitting diode (OLED) is a light-emitting diode that contains a film of emissive electroluminescent organic compound which emits light when electricity is passed through them. This organic layer is present between two electrodes, and at least one of these electrodes is transparent. OLEDs do not require a backlight and filters, unlike LCD. They are more efficient, simpler to make, thinner, and flexible and even rollable. OLEDs have an excellent picture quality with brilliant colors, fast response rate, infinite contrast, and wide viewing angles. OLEDs are widely used to create digital displays in devices such as television screens, computer monitors, portable systems such as smartphones, handheld game consoles, and PDAs. According to a study published by Insure Insights, the global OLED material market is expected to grow at a CAGR of 14.1% during the forecast period.

Top Driver: Surging Demand for Electronics and Technological Advancements

The market is driven by growing demand for OLED material with the rising disposable income and surging demand for smartphones, digital displays, and LED with the rapid adoption of wireless technology devices by the people across the world. Also, technological advancements and rising research and development investment have led to the development of innovative digital technology adopting OLED materials for various applications. In addition, growth in demand for OLED materials in the automotive sector is anticipated to create lucrative opportunities for OLED materials manufacturers in the near future.

On the other hand, the rapid change in technology and consumer preferences is expected to hinder OLED materials’ adoption in the electronics sector.

The Industrial Segment Accounted for a Larger Market Share

On the basis of end use the market is segmented into commercial, residential and industrial. The industrial segment is expected to account a larger market share due to wide applications of OLED materials in various industries especially automotive. On the basis of type the market is segmented into HIL, HTL, ETL, Substrates, Encapsulation, Anode, EML, Cathode. On the basis of application, the market is segmented into lighting and display. The lighting segment was found to be the fastest growing segment.

Surge in Demand For OLED Materials to Benefit North America Market

Asia-Pacific is expected to surge, due to growth in population, higher adoption of new technologies, and stable economic growth. OLED materials was widely accepted by Korea and China, as these countries mark the presence of key and the renowned companies in the electronics sector and hence was expected to gain higher number of shares in the region. The changes in standards of living and comfort provided by smartphones are anticipated to boost the demand for these materials. This in turn is anticipated to boost the global OLED materials market during the forecast period.

Players to Focus on OLED Materials Market

The global market is expected to stay fragmented with the increase in the number of new entrants in the coming years. DuPont, Novaled GmbH, Sigma-Aldrich Co. LLC., The Dow Chemical Company, Merck KGaA, LG Chem, TCI America, Sumitomo Chemical, Universal Display, Idemitsu Kosan Co., Ltd. among others could be at the forefront of the competition in the global market.

LG Chem: In April 2019, LG Chem had acquired DuPont’s soluble OLED technologies, in a deal estimated at $175 million by these sources. DuPont has an IP of 540 materials and process patents, which are included in the deal, as well as DuPont’s related R&D and equipment facilities.

Versum Materials, Inc: In October 2019, Versum Materials, Inc., a leading materials supplier to the semiconductor industry, announced that it had completed the announced transaction with Merck KGaA, Darmstadt, Germany. Under the terms of the transaction, stockholders are entitled to receive $53.00 per share in cash, without interest and less any applicable withholding tax, for each share of common stock owned prior to the completion of the merger, representing an equity value of approximately US$5.8 billion.

Scope of the Report

By Type

• HIL
• HTL
• ETL
• Substrates
• Encapsulation
• Anode
• EML
• Cathode

By Application

• Lightning
• Display

By End-User

• Commercial
• Residential
• Industrial

By Region

• North America
• Europe
• Asia Pacific
• SAMEA

Key Reasons to Purchase this Report

1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.