According to a recent market study published by Growth Market Reports, titled, “Global OLED Materials Market by Component, by Application, by End-user, and by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 2,038.4 Million in 2022 and is expected to grow at a moderate growth rate of 26.5% by the year 2031.

As per Growth Market Reports industry analyst Akash Vedpathak, “Global OLED Materials Market is anticipated to witness significant growth during the forecast period 2023-2031. Organic Light Emitting Diodes (OLED) materials are compounds used in the construction of OLED devices, primarily in the emissive layer. This layer plays a crucial role in producing light when an electric current is applied, making it essential for devices like TVs, smartphones, and other display systems that utilize OLED technology. OLED materials tend to be carbon-based and emit light when electricity is applied due to a process called electro phosphorescence. The development of white OLED devices for use in solid-state lighting applications is a prominent field of research.

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Key factors that are anticipated to fuel the demand for the global OLED Materials market during the forecast period is Increasing Investments in OLED technology and Manufacturing Facilities and Rising demand for OLED Displays in Various Applications and Adoption in AR/ VR headsets are driving the growth of the market. Conversely, Huge investment and Manufacturing related complexity in OLED hamper the market growth of the OLED Materials market. Expansion and Growth of the Consumer Electronics Industry creates opportunities in the market.

Supply chain management is an essential part of any business. A supply chain contains a series of steps to get products from their original state to the customers. The OLED (Organic Light Emitting Diodes) material market is a growing sector driven by the increasing demand for OLED displays and lighting. The market primarily deals with the materials necessary to manufacture OLED devices which include organic compounds and substrates. The supply chain of the OLED Materials market involves raw material suppliers, manufacturers, distributors, and end-users. The primary raw materials needed for OLED manufacturer includes hydrocarbon or polymer substances. Manufacturers and producers form the next step in the supply chain. They receive these organic compounds and transform them into OLED materials using various chemical processes. This requires highly controlled environments and specialized equipment. Therefore, existing heavy electronics manufacturers or chemical processing industries often perform this role.

The primary, as well as secondary research methodology, is used for keen observation and study about the OLED Materials market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects. Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry. On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape. Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 has significant impact on the OLED Materials market in 2020. The disruptions in supply chains in the early months of the pandemic led to shortages and price increases. A decline in demand for OLED Materials was registered due to the logistics challenges, factories were shut down, and also shortages of labors. OLED materials has played an important role in various sectors such as industrials, automotive, consumer electronics, and others. Many players halted their production output over the last few months which has negatively impacted the demand and supply chain of OLED materials.

Key Takeaways from the Study:

Based on component, the global OLED Materials market is segmented into BL, ETL, EIL, HTL, and Others. The Others segment is expected to hold a significant market share during the forecast period due to OLED display architecture consists of numerous layers, with the cathode layer playing a critical part in OMLED architecture. The increased use of lithium ion batteries in portable electronic devices and equipment such as laptops, tablets, mobile phones, digital cameras, and others is driving battery growth in respective applications, resulting in increased demand for cathode. The entry of local and global firms into the energy storage system industry is likely to provide considerable growth prospects for cathode suppliers.

In terms of Application, the OLED Materials market bifurcated into Display and Lighting. The Lighting segment is expected to grow at a significant CAGR during the forecast period due to increasing demand for OLED materials for energy-efficient lighting solutions. The expansion of OLED lighting applications in residential and commercial areas are also driving the growth of the lighting segment in the market.

Based on the End-user, the global OLED Materials market is segmented into Consumer Electronics, Automotive, Healthcare, and Others. The Healthcare segment is expected to grow at a significant CAGR during the forecast period due to OLED materials are been used in medical imaging devices to provide high resolution images and high contrast. Another factor driving the growth of healthcare segment is the integration of OLED displays in wearables for providing real-time data to the consumers.

Based on region, the global OLED Materials market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is expected to witness a moderate growth rate in the OLED Materials market during the forecast period. There is a rapid increase in demand for OLED materials, especially from countries like Germany, the UK and France. The demand is driven by the fast-growing consumer electronics sector, the shift towards energy-efficient lighting solutions and high spending capacity on high-end TVs, smartphones, wearable devices. The growing interest in developing flexible displays is also propelling the market in this region.

Report Scope:

Report Metric

Details

Market Value in 2022

USD 2,038.4 Million

Market Growth Rate (from 2022 to 2031)

26.5%

Historical Data

2016-2021

Base Year

2022

Forecast Period

2023 - 2031

Units Considered

Value (USD Million)

Market Segments

by Component, by Application, by End-user, and by Region.

Key Companies Profiled

BLDpharm, DuPont, Hodogaya Chemical Co., Ltd., Idemitsu Kosan Co.,Ltd., LG Chem, Merck KGaA, Novaled GmbH, Sumitomo Chemical Co., Ltd., Tokyo Chemical Industry Co., Ltd., TORAY INDUSTRIES, INC., and UNIVERSAL DISPLAY.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.


Target Audience:

  • Supply-side: Manufacturers, Raw material suppliers, and Distributors

  • Demand Side: Electronics, Healthcare, Automotive Industries.