Korea’s Samsung Display and LG Display and China’s BOE are intensifying competition in the global foldable display panel market, which is expected to exceed 10 trillion won in 2022. Foldable panels are expected to be used not only for smartphones but for other IT products, including laptops and tablet PCs.
According to Display Supply Chain Consultants (DSCC), a U.S. display market research company, the world’s shipments of foldable display panels are expected to reach 3.1 million units next year.
The forecast is based on demand for foldable smartphones to be produced by Samsung Electronics and Huawei. Prices of foldable displays are expected to fall when mass-production systems of display companies are completed. Then the market is expected to grow explosively.
Shipments of foldable displays will reach about 63 million units in 2022, increasing 20-fold in just three years, according to the report.
"Foldable displays will be applied to a growing number of items, including tablet and notebook PCs, in the future," DSCC said. "It will affect supply and demand in the entire OLED display industry."
Three companies with flexible OLED panel production lines -- Samsung Display, LG Display and China BOE -- are expected to lead competition in the folder-blind display market.
"No company has rolled out foldable display panels on a full scale yet. But the competition is expected to kick off next year," an industry expert said.
Another market researcher, IHS Markit, forecast in a recent report that the market for foldable OLED display panels will grow to US$2,679 million in 2022 from US$198 million in 2018.