Portland, OR -- (SBWIRE) -- 01/12/2018 -- OLED Materials Market Overview:
Global OLED Materials Market was valued at $5,932 million in 2016, and is expected to reach $25,731 million by 2023, registering a CAGR of 26.3% during the forecast period. The OLED display technology has gained popularity in the global materials market in the recent years, attributed to the increase in sales of smartphones and LED TVs. Asia-Pacific holds the largest market share owing to the presence of world-renowned firms such as LG Electronics and Samsung Electronics.
The global OLED materials market is driven by increase in population and rise in disposable income of consumers. Increase in demand for wireless devices is also anticipated to augment the growth during the forecast period. Moreover, surge in collaborations between manufacturers and retailers is estimated to provide new opportunities for market expansion.
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Global OLED Materials Market: Segmentation
The report segments the global OLED materials market based on type, application, end user, and geography. On the basis of type, it is divided into substrates, encapsulation, anode, hole injection layer (HIL), hole transport layer (HTL), electron transport layer (ETL), emissive layer (EML), and cathode. By application, it is classified into display and lighting. The display segment is further classified as television & monitors, smartphones, notebooks & tablets, automotive and others. Based on end user, the market is broadly classified into residential, commercial, and industrial. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the global OLED materials market till 2023.
Top Investment Pockets
In 2016, the smartphones segment accounted for over one-third share of the global market. The smartphones segment is the top investment pockets, owing to its high demand from consumers in Asia-Pacific. Growth in awareness among consumers pertaining to new technology advancements is anticipated to augment its demand in the near future.
Asia-Pacific OLED materials market
The consumption of OLED materials in Asia-Pacific is expected to increase, owing to growth in population, increased adoption of new technologies, and stable economic growth. OLED materials are widely accepted by Korea and China, as these countries mark the presence of renowned companies in the electronics sector. Changes in standards of living and comfort provided by smartphones driving the demand for these materials. This in turn is anticipated to boost the global OLED materials market during the forecast period.
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Asia-Pacific OLED Materials Market for Industrial Application, 2016-2023 ($million)
The prominent players operating in the global OLED materials market focus on product launch as their key strategy to gain significant share in the market.
The key players profiled in the report are Sigma-Aldrich Co. LLC., DuPont, Novaled GmbH, Merck KGaA, LG Chem, TCI America, Sumitomo Chemical, Universal Display, The Dow Chemical Company, and Idemitsu Kosan Co., Ltd.
The other players not profiled in the report include Cambridge Display Technology, Beijing Aglaia Technology Development Co., Ltd., BASF SE, Borun Chemical Co., Ltd., Hodogaya Chemical Group, Heraeus Holding, and Covestro AG.
This report provides an extensive analysis of the current trends and emerging estimations in the global OLED materials market.
In-depth analysis of the industry is conducted through market estimations of key segments from 2017 to 2023.
Comprehensive analysis of factors that drive and restrain the market growth is provided.
Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
The key players are profiled along with their strategies to determine the competitive outlook of the market.
OLED Materials Market Key Segmentation:
Television & Monitors
Notebooks & Tablets
By End User
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA