OLED Materials Market Size Estimated to Observe Significant Growth by 2023

Posted by sanjayhande on December 2nd, 2019

OLED materials comprise substrates, encapsulation, cathode, anode, hole injection material (HIL), electron transport material (ETL), emissive material (EML) and others (HTL and EBL). Substrates holds a major share in the global OLED materials market in 2016. The demand for OLED materials is driven by changes in lifestyle of people and increase in population. In addition, surge in demand for smartphones is expected to boost the market growth in the near future. The major companies operating in the global OLED materials market have collaborated with major service providers & retailers to expand their outreach.

According to a new report published by Allied Market Research titled, "OLED Materials Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global OLED materials market was valued at ,932 million in 2016, and is expected to reach ,731 million by 2023, registering a CAGR of 26.3% from 2017 to 2023. Asia-Pacific dominated the global market, accounting for over two-thirds market share in 2016.

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The substrates segment is expected to dominate the global market during the forecast period. However, the cathode segment is anticipated to gain traction in the near future. In 2016, the cathode and substrates segments collectively accounted for more than one-third share of the global OLED materials market.

The display segment accounted for a significant share in 2016, and is anticipated to maintain its dominance during the forecast period. The smartphones and television & monitors sub-segments contributed to over three-fifth share in the display segment in 2016. This is attributed to the increase in demand for smartphones worldwide. Rise in offline sales channels and aggressive advertising campaigns by the key players in the smartphones industry are expected to augment its demand further.

KEY FINDINGS OF OLED MATERIALS MARKET STUDY: 

• In terms of value, the cathode segment is expected to grow at a CAGR of 31.9% during the forecast period.
• LAMEA is anticipated to witness the highest growth, registering a CAGR of 30.8% in terms of value.
• The substrates segment accounted for more than one-fourth share of the global market in 2016.
• China and India are expected to occupy approximately three-fourths share of the total Asia-Pacific OLED materials market by 2023.
• India is expected to grow at a CAGR of 25.6%, in terms of value, from 2017 to 2023.

In 2016, Asia-Pacific accounted for the highest share, and is expected to continue its dominance during the forecast period. The LAMEA OLED materials market is anticipated to grow at a significant CAGR due to growth in adoption of OLED in smartphones and televisions.

The key players profiled in the report are following:

• Sigma-Aldrich Co. LLC.
• DuPont
• Novaled GmbH
• Merck KGaA
• LG Chem
• TCI America
• Sumitomo Chemical
• Universal Display
• The Dow Chemical Company
• Idemitsu Kosan Co., Ltd.

Obtain Report Details: https://www.alliedmarketresearch.com/OLED-materials-market

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.