China Holds 44% Share
The Organic Light-Emitting Diode (OLED) emissive material market is projected to exceed US$2.4 billion by 2028, with China expected to account for a significant 44% of this growth.
According to market research firm UBi Research on Dec. 4, the market for emissive materials used in OLEDs is anticipated to grow at an average annual rate of 5.8%, rising from US$1.84 billion in 2023 to over US$2.43 billion in 2028.
In terms of country-specific trends, the expenditure by South Korean panel companies on materials is forecasted to increase from US$1.11 billion in 2023 to US$1.36 billion in 2028, marking an average annual growth rate of 4.2%.
China’s expenditure on materials is set to see a substantial rise, from US$730 million in 2023 to US$1.07 billion in 2028. Consequently, by 2028, the country-specific material purchase ratios are projected to be 56% for South Korea and 44% for China.
However, there are concerns that the expansion of the emissive material market in China might be limited. This is attributed to the fact that Chinese panel manufacturers primarily focus on producing panels for domestic use and white-box models, which could lead to an increased use of lower-cost materials even as panel shipments rise.
On a corporate level, Samsung Display’s expenditure on emissive materials is predicted to reach US$810 million, and LG Display’s US$550 million by 2028. China’s leading display company, BOE, is expected to spend about US$440 million.