MarketResearchReports.biz has announced the addition of a research report, titled “Global Organic Light-Emitting Diode (OLED) Materials Market 2017-2021,” to its vast repository. The report provides a comprehensive study of the various aspects of the market, including its dynamics, regional segmentation, materials used, and vendor landscape. As per its findings, the global OLED materials market will expand at a CAGR of nearly 6.0% from 2017 to 2021.
The increasing incorporation of OLED with smartphones is one of the primary growth stimulants of the market. It is estimated that around 70% of the global population owned a smartphone in 2016, with the total shipment crossing the mark of one billion in that year. Smartphones are also making inroads in the shares of other types of phones. Their penetration rates are especially in emerging regions. It is observed that one in every 10 smartphones shipped in the recent years includes an OLED display. Therefore, the proliferation of smartphones is playing an instrumental role in the growth of the market.
However, the upward climb of the market is marred by the technical issues related to the material development and printing of OLEDs. Nevertheless, the burgeoning adoption of these diodes for various applications in the automotive sector is likely to shape the future of the market. These applications, include internal lighting tail lights, heads-up displays, dashboard displays, front lighting systems, and turn indicators.
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On the basis of material, the global OLED materials market is divided into HTL/BTL/HBL, encapsulation, anode, substrate, EML, and HIL. The anode segment will continue to dominate the market until 2021. Anodes are primarily used in indium oxide (ITO), which is known for its high work function and transparency in visible light.
From the geographical standpoint, the global market is segmented into Asia Pacific, Europe, the Middle East, and Africa (EMEA), and Americas. The Americas will be the leading revenue contributor in the global arena. The domicile of a number of key players and rapid technological advancements along with the high acceptance among the populace are propelling the growth of the region.
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The global marketplace of OLED materials consists of well-diversifies participants, including international, regional, and local players. Key players are primarily focusing towards technological innovation, product/service portfolio diversification, and mergers and acquisitions in order to ensure their prominence in the market. The competitive rivalry between regional and international companies is likely to remain high throughout the forecast horizon, especially in terms of quality, price, and technology.
Merck, Sumitomo Chemical, Samsung SDI Chemicals and Electronics Materials, Universal Display, and DuPont are among the frontrunners in the global OLED materials market. Some other prominent companies operating in the market are The Dow Chemical Company, Doosan, Hodagaya Chemical, DUKSAN Hi-Metal, Konica Minolta, Idemitsu Kosan, and LG Chem.