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OLED Materials Market size is forecast to reach $39.43 billion by 2025 after growing at a CAGR of 23.5% during 2020-2025. OLED is a light emitting diode which is organic in nature and consists of an emissive electroluminescent layer that emits light in response to electric current. The growth of the market of OLED materials is expected to be driven by the high demand from the automotive industry. The other growth factor is construction industry which is using OLED materials for lightning purpose.
Report Coverage
The report: “OLED Materials Market-Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of OLED materials industry.
By Type: Substrates, Encapsulation, Anode, Hole Injection Layer (HIL), Hole Transport Layer (HTL), Emissive Layer (EML), Cathode, and Others
By Application: Display (Television and Monitors, Smartphones, Electronic Notebooks), Lighting, and Others
By End User: Building and Construction (Residential (Independent Homes, RoW Homes, Large Apartment Buildings) Commercial (Hospital, School, Airport, Others)), Automotive, Electrical and Electronics, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- Asia-Pacific dominates the OLED materials market owing to increasing demand from electrical and electronics sector.
- Rise in the demand of smartphones will drive the market of OLED materials in the forecast period.
- Lack of investment in OLED materials market will hinder its growth in the forecast period.
By Product Type- Segment Analysis
Cathode Segment held the largest share in the OLED materials market in 2019. The architecture of OLED display comprises several layers in which cathode layer play vital role in OMLED architecture. Cathode layer is responsible for injection of electrons when current flows through the device. Durability, compatibility, efficient and fast charging are key criterion leading to significant developments in cathode industry. Increasing use of lithium ion batteries in portable electronic accessories and equipment such as laptops, tablets, mobile phones, digital camera and others are driving growth of batteries in respective applications ultimately resulting in increasing demand for cathode. Entry of local and global players into the energy storage system market are expected to support significant growth opportunities for cathode suppliers in the market. Not only consumer electronics but use of batteries in automotive industry for starting, lighting and ignition application is consistently growing. In addition, development of hybrid and electric engines in automotive, marine and locomotive application is further adding to the use of batteries in transportation sector. This trend is significantly driving the consumption of cathode across the globe. Use of batteries in domestic, commercial and industrial application as power back up and for maintaining uninterrupted power supply in power grids and telecom towers is another application of batteries. With modernization in power sector coupled with urbanization and smart cities development, demand for batteries and cathode materials is expected to witness consistent increase in the forecast period.
By Application-Segment Analysis
Smartphones Segment held the largest share in the OLED materials market in 2019. The OLED materials gives exceptional display compared to other display systems. Due to its robust design, OLED materials are used in smartphones. Increased consumer spending across regions has driven the sales of Smartphone in the forecast period. The global smartphone sector is expected to gain significant demand owing to the growing demand for mobile internet services and applications along with real-time need for information exchange. Increasing disposable income worldwide and particularly for Asia Pacific region is expected to drive the market. Smartphones companies have been increasing their revenues by launching new variant phones with increased frequency. However, 5G handsets and foldable phones are likely to provide them with new opportunities. Consumer Technology Association (CTA) forecasts that the 5G-enabled devices are likely to reach 2.1 million units to generate USD 1.9 billion in revenue, by 2019, the year which marks the launch of the first 5G smartphones. Continuous technology advancements in various operating systems used such as Windows, Android, Symbian, and IOS are expected to fuel smartphone demand over the forecast period.
By End User-Segment Analysis
Construction sector has been the primary market for OLED materials in 2019 growing at CAGR of 25%. The growth of OLED materials can be taken as directly proportional to the growth of construction industry. OLED lightings are used in commercial spaces such as offices, retail shops, malls, hospitals, and restaurants and others. Reduction of energy consumption has become a major objective for building owners, governments, utilities, and other stakeholders. Replacement of existing lights with OLED lightings is one of the ways to reduce the massive pool of energy use. OLED materials are most efficient way of illumination and lighting in buildings, with an estimated energy efficiency of 80%-90% when compared to traditional lighting and conventional light bulbs. This means that about 80% of the electrical energy is converted to light, while a 20% is lost and converted into other forms of energy such as heat. By 2020, construction output is estimated to grow by 70% to $12.7 trillion and will account for 14.6% of the world output with some of the larger emerging markets such as China, India, Russia, Brazil and Poland driving growth, along with U.S. Global GDP growth of 3.5% and 3.6% is expected in 2017 and 2018 respectively however the meteoric growth that outpaces global GDP will be concentrated in countries like China, India and U.S. India will overtake Japan as the third-largest construction market with annual growth averaging 7.4% annually in construction.
Geography-Segment Analysis
APAC dominates the OLED materials market with a share of 41% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the construction and automotive sector. OLED materials are surface lights and have several lighting applications in cars indicators, tail lamps and interior light. It is expected that the amount of OLED materials used in the production of automobiles will double in the next 15 years. According to International Organization of Motor Vehicle Manufacturers the total production of automobile (commercial as well as Personal) globally in the year 2019 was 91,786,861 units compare to 96,869,020 units in 2018 while in Asia-Pacific in the year 2018 was 52,449,078 units compare to 53,395,211 units in 2017. The increase in the global automobile production is a major factor leading to the growth of OLED materials in terms of volume across the globe.
The coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business. The current epidemic outbreak has deeply influenced consumers' daily life and in addition to the impact on construction and automotive sector. South Korea, Italy and Japan are the most affected among the major industrialized economies. Consequently, 80 percent of automotive and related companies report that Coronavirus will have a direct impact on their 2020 revenues. 78 percent of companies do not have enough staff to run a full production line. More than 80 percent of the world’s auto supply chain is connected to China. In January 2020 China’s car sales plunged by 18 percent. The China Passenger Car Association (CPCA) considers that the first two-month sales could decline by 40 percent or more compared to the same period in 2019. Production shortfalls resulting from supply chain disruptions in China will impact global automakers.
Drivers-OLED Materials Market
- Growing investments in OLED technology and manufacturing facilities
OLED is a new and exciting technology providing thin, efficient, and bright displays and lighting. OLED is an emerging display technology that is fast becoming the mainstream display technology in many markets, as OLED enables display panels that offer the best image quality and free design as they can be made flexible and transparent. Many industry experts believe OLEDs are set to replace existing technologies in display and lighting industries. In a view of this, many companies started investing heavily in R&D related to OLED. There are several players involved in the value chain of the market, these include companies researching on OLEDs and acquire important patents relating to OLED materials. Chemical companies involved in the OLED material production and OLED gadget companies or resellers that use OLEDs in their products such as mobile phones, TVs, and other consumer electronic products. Companies has been developing a foldable OLED device for a long time, which may dramatically change the mobile device market as it could enable smartphone to turn into tablets or phones that can be folded into smaller devices.
- Increasing number of applications and adoption in AR/ VR headsets
OLED displays are lighter, thinner, more flexible, and emit brighter colors compared to displays based on existing technologies; therefore, their applications in various sectors have increased significantly in the last few years. Mobile phones, TVs, wearable devices, and other consumer electronic products are among the major adoption areas of OLED technology. The demand for AMOLED displays in VR/AR applications is expected to increase as AMOLED is the most appropriate display for AR/VR. This is because of significant improvements offered by AMOLED displays in reducing the response time and resolving the time latency problem as compared with other display technologies. This factor will drive the growth of the market of OLED materials in the forecast period.
Challenges-OLED Materials Market
- Requirement of huge investment and related manufacturing complexity
The LCD production plants can be upgraded into OLED by implementing new equipment. However, for LCD companies converting to OLED require huge initial investment. Additionally, this investment requirement comes at a time when the TFT-LCD industry is in oversupply while producers are experiencing losses. Companies are expected to be the first lot to experience deep losses on initial investment, before recovering on OLED. These companies will require a few years to gain profits in OLED. There have been tremendous advancements in the manufacturing capability of OLED display panels in last 5 years However, manufacturing an AMOLED panel still requires more sophisticated technologies than an LCD display. Complex value chain and different suppliers also add significant complexity in the supply chain. It will not be easy for the company to gain a competitive edge with OLED technology in terms of performance and prices in the display market that is already dominated by the TFT-LCD display. It is necessary for a panel maker to precisely analyze the market competition before investing a huge amount in establishing or upgrading a production plant. The companies have to come up with a sophisticated market entering strategy based on the differentiated technology of the AMOLED panel to successfully enter the display panel market.
- Lifetime of OLED Display is less than that of LCD display
The OLED materials market has seen a significant growth in recent times. However, the material has certain drawbacks too. For instance, the lifetime of conventional OLED displays is around 5,000 hours, while that of normal LCD displays is around 10,000 hours. Also, the material is easily damaged by water, due to which an improved sealing process is necessary for the displays, thus, the above-mentioned factors are restraining the growth of the market in the forecast period.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the OLED materials market. In 2019 the market of OLED materials market has been consolidated by the top five players accounting for xx% of the share. Major players in the OLED materials market are Dupont, Idemitsu Kosan, Lg Chem, Merck Kgaa, Novaled Gmbh and others.
Acquisitions/Technology Launches /Product launches
- In May 2017, AU Optronics developed round AMOLED displays called true-circle displays, which have slimmer salient corners compared with AUO's current round OLED displays. This enables watch designers more flexibility with their designs. AUO demonstrated 2 such displays, with a diameter of 1.2-inch and 1.4-inch.
1. OLED Materials Market- Market Overview
1.1 Definitions and Scope
2. OLED Materials Market - Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key trends by Type
2.3 Key trends by Application
2.4 Key trends by End User
2.5 Key trends by Geography
3. OLED Materials Market – Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. OLED Materials Market - Startup companies Scenario Premium (Premium)
4.1 Top startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. OLED Materials Market – Industry Market Entry Scenario Premium (Premium)
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis – Top 10 companies Investment
6. OLED Materials Market - Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Market Opportunities
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. OLED Materials Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Market life cycle
7.4 Suppliers and distributors Analysis
8. OLED Materials Market – By Type (Market Size -$Billion/Million)
8.1 Substrates
8.2 Encapsulation
8.3 Anode
8.4 Hole Injection Layer (HIL)
8.5 Hole Transport Layer (HTL)
8.6 Emissive Layer (EML)
8.7 Cathode
8.8 Others
9. OLED Materials Market – By Application (Market Size -$Billion/Million)
9.1 Display
9.1.1 Television and Monitors
9.1.2 Smartphones
9.1.3 Electronic Notebooks
9.2 Lighting
9.3 Others
10. OLED Materials Market – By End Use (Market Size -$Billion/Million)
10.1 Building and Construction
10.1.1 Residential
10.1.1.1 Independent Homes
10.1.1.2 Row Homes
10.1.1.3 Large apartment buildings
10.1.2 Commercial
10.1.2.1 Hospital
10.1.2.2 School
10.1.2.3 Airport
10.1.2.4 Others
10.2 Automotive
10.3 Electrical and Electronics
10.4 Others
11. OLED Materials Market - By Geography (Market Size -$Billion/Million)
11.1 North America
11.1.1 U.S
11.1.2 Canada
11.1.3 Mexico
11.2 South America
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Colombia
11.2.4 Chile
11.2.5 Rest of South America
11.3 Europe
11.3.1 UK
11.3.2 Germany
11.3.3 France
11.3.4 Italy
11.3.5 Netherland
11.3.6 Spain
11.3.7 Russia
11.3.8 Belgium
11.3.9 Rest of Europe
11.4 Asia-Pacific
11.4.1 China
11.4.2 Japan
11.4.3 India
11.4.4 South Korea
11.4.5 Australia and New Zealand
11.4.6 Rest of APAC
11.5 Rest of the World
11.5.1 Middle East
11.5.1.1 Saudi Arabia
11.5.1.2 U.A.E
11.5.1.3 Israel
11.5.1.4 Rest of the Middle East
11.5.2 Africa
11.5.2.1 South Africa
11.5.2.2 Nigeria
11.5.2.3 Rest of Africa
12. OLED Materials Market - Entropy
12.1 New Product Launches
12.2 M&A’s, Collaborations, JVs and Partnerships
13. OLED Materials Market Share Analysis (Premium)
13.1 Market Share by Country- Top companies
13.2 Market Share by Region- Top companies
13.3 Market Share by type of Product / Product category- Top companies
13.4 Market Share at global level- Top companies
13.5 Best Practices for companies
14. OLED Materials Market- List of Key Companies by Country (Premium)
15. OLED Materials Market Company Analysis
15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Company 1
15.3 Company 2
15.4 Company 3
15.5 Company 4
15.6 Company 5
15.7 Company 6
15.8 Company 7
15.9 Company 8
15.10 Company 9
15.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"
LIST OF TABLES
1.Global Oled Material Market, By Type Market 2019-2024 ($M)1.1 Introduction Market 2019-2024 ($M) - Global Industry Research
1.2 Substrate Market 2019-2024 ($M) - Global Industry Research
1.3 Encapsulation Market 2019-2024 ($M) - Global Industry Research
1.4 Cathode Market 2019-2024 ($M) - Global Industry Research
1.5 Anode Market 2019-2024 ($M) - Global Industry Research
1.6 Hil Market 2019-2024 ($M) - Global Industry Research
1.7 Etl Market 2019-2024 ($M) - Global Industry Research
1.8 Eml Market 2019-2024 ($M) - Global Industry Research
2.Global Oled Material Market, By End User Market 2019-2024 ($M)
2.1 Residential Market 2019-2024 ($M) - Global Industry Research
2.2 Commercial Market 2019-2024 ($M) - Global Industry Research
2.3 Industrial Market 2019-2024 ($M) - Global Industry Research
3.Global Oled Material Market, By Type Market 2019-2024 (Volume/Units)
3.1 Introduction Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Substrate Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Encapsulation Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Cathode Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 Anode Market 2019-2024 (Volume/Units) - Global Industry Research
3.6 Hil Market 2019-2024 (Volume/Units) - Global Industry Research
3.7 Etl Market 2019-2024 (Volume/Units) - Global Industry Research
3.8 Eml Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Oled Material Market, By End User Market 2019-2024 (Volume/Units)
4.1 Residential Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Commercial Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Industrial Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Oled Material Market, By Type Market 2019-2024 ($M)
5.1 Introduction Market 2019-2024 ($M) - Regional Industry Research
5.2 Substrate Market 2019-2024 ($M) - Regional Industry Research
5.3 Encapsulation Market 2019-2024 ($M) - Regional Industry Research
5.4 Cathode Market 2019-2024 ($M) - Regional Industry Research
5.5 Anode Market 2019-2024 ($M) - Regional Industry Research
5.6 Hil Market 2019-2024 ($M) - Regional Industry Research
5.7 Etl Market 2019-2024 ($M) - Regional Industry Research
5.8 Eml Market 2019-2024 ($M) - Regional Industry Research
6.North America Oled Material Market, By End User Market 2019-2024 ($M)
6.1 Residential Market 2019-2024 ($M) - Regional Industry Research
6.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
6.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
7.South America Oled Material Market, By Type Market 2019-2024 ($M)
7.1 Introduction Market 2019-2024 ($M) - Regional Industry Research
7.2 Substrate Market 2019-2024 ($M) - Regional Industry Research
7.3 Encapsulation Market 2019-2024 ($M) - Regional Industry Research
7.4 Cathode Market 2019-2024 ($M) - Regional Industry Research
7.5 Anode Market 2019-2024 ($M) - Regional Industry Research
7.6 Hil Market 2019-2024 ($M) - Regional Industry Research
7.7 Etl Market 2019-2024 ($M) - Regional Industry Research
7.8 Eml Market 2019-2024 ($M) - Regional Industry Research
8.South America Oled Material Market, By End User Market 2019-2024 ($M)
8.1 Residential Market 2019-2024 ($M) - Regional Industry Research
8.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
8.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
9.Europe Oled Material Market, By Type Market 2019-2024 ($M)
9.1 Introduction Market 2019-2024 ($M) - Regional Industry Research
9.2 Substrate Market 2019-2024 ($M) - Regional Industry Research
9.3 Encapsulation Market 2019-2024 ($M) - Regional Industry Research
9.4 Cathode Market 2019-2024 ($M) - Regional Industry Research
9.5 Anode Market 2019-2024 ($M) - Regional Industry Research
9.6 Hil Market 2019-2024 ($M) - Regional Industry Research
9.7 Etl Market 2019-2024 ($M) - Regional Industry Research
9.8 Eml Market 2019-2024 ($M) - Regional Industry Research
10.Europe Oled Material Market, By End User Market 2019-2024 ($M)
10.1 Residential Market 2019-2024 ($M) - Regional Industry Research
10.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
10.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
11.APAC Oled Material Market, By Type Market 2019-2024 ($M)
11.1 Introduction Market 2019-2024 ($M) - Regional Industry Research
11.2 Substrate Market 2019-2024 ($M) - Regional Industry Research
11.3 Encapsulation Market 2019-2024 ($M) - Regional Industry Research
11.4 Cathode Market 2019-2024 ($M) - Regional Industry Research
11.5 Anode Market 2019-2024 ($M) - Regional Industry Research
11.6 Hil Market 2019-2024 ($M) - Regional Industry Research
11.7 Etl Market 2019-2024 ($M) - Regional Industry Research
11.8 Eml Market 2019-2024 ($M) - Regional Industry Research
12.APAC Oled Material Market, By End User Market 2019-2024 ($M)
12.1 Residential Market 2019-2024 ($M) - Regional Industry Research
12.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
12.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
13.MENA Oled Material Market, By Type Market 2019-2024 ($M)
13.1 Introduction Market 2019-2024 ($M) - Regional Industry Research
13.2 Substrate Market 2019-2024 ($M) - Regional Industry Research
13.3 Encapsulation Market 2019-2024 ($M) - Regional Industry Research
13.4 Cathode Market 2019-2024 ($M) - Regional Industry Research
13.5 Anode Market 2019-2024 ($M) - Regional Industry Research
13.6 Hil Market 2019-2024 ($M) - Regional Industry Research
13.7 Etl Market 2019-2024 ($M) - Regional Industry Research
13.8 Eml Market 2019-2024 ($M) - Regional Industry Research
14.MENA Oled Material Market, By End User Market 2019-2024 ($M)
14.1 Residential Market 2019-2024 ($M) - Regional Industry Research
14.2 Commercial Market 2019-2024 ($M) - Regional Industry Research
14.3 Industrial Market 2019-2024 ($M) - Regional Industry Research
LIST OF FIGURES
1.US OLED Materials Market Revenue, 2019-2024 ($M)2.Canada OLED Materials Market Revenue, 2019-2024 ($M)
3.Mexico OLED Materials Market Revenue, 2019-2024 ($M)
4.Brazil OLED Materials Market Revenue, 2019-2024 ($M)
5.Argentina OLED Materials Market Revenue, 2019-2024 ($M)
6.Peru OLED Materials Market Revenue, 2019-2024 ($M)
7.Colombia OLED Materials Market Revenue, 2019-2024 ($M)
8.Chile OLED Materials Market Revenue, 2019-2024 ($M)
9.Rest of South America OLED Materials Market Revenue, 2019-2024 ($M)
10.UK OLED Materials Market Revenue, 2019-2024 ($M)
11.Germany OLED Materials Market Revenue, 2019-2024 ($M)
12.France OLED Materials Market Revenue, 2019-2024 ($M)
13.Italy OLED Materials Market Revenue, 2019-2024 ($M)
14.Spain OLED Materials Market Revenue, 2019-2024 ($M)
15.Rest of Europe OLED Materials Market Revenue, 2019-2024 ($M)
16.China OLED Materials Market Revenue, 2019-2024 ($M)
17.India OLED Materials Market Revenue, 2019-2024 ($M)
18.Japan OLED Materials Market Revenue, 2019-2024 ($M)
19.South Korea OLED Materials Market Revenue, 2019-2024 ($M)
20.South Africa OLED Materials Market Revenue, 2019-2024 ($M)
21.North America OLED Materials By Application
22.South America OLED Materials By Application
23.Europe OLED Materials By Application
24.APAC OLED Materials By Application
25.MENA OLED Materials By Application
26.Sigma-Aldrich Co Llc, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Dupont, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Novaled Gmbh, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Merck Kgaa, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Lg Chem, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Tci America, Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Sumitomo Chemical, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.Universal Display, Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.The Dow Chemical Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
35.Idemitsu Kosan, Sales /Revenue, 2015-2018 ($Mn/$Bn)