OLED Materials Market Introduction
- Organic light-emitting diode (OLED) is also known as organic electroluminescent. It is a light-emitting diode (LED), wherein the emissive electroluminescent layer is a film of organic compound that emits light in response to an electric current.
- OLED materials are used to create digital displays in devices such as television screens, computer monitors, and portable systems such as smartphones, handheld game consoles, and PDAs. A major area of research is the development of white OLED devices for use in solid-state lighting applications.
- In terms of application, the global OLED materials market can be segmented into television & monitors, smartphones, notebooks & tablets, automotive, lighting, and others. The smartphones segment is expected to expand at significant pace during the forecast period. Changes in standard of living and surge in usage of smartphones are driving the demand for OLED materials in the smartphones application segment.
Key Drivers of OLED Materials Market
- Increase in demand for wireless devices is anticipated to augment the market during the forecast period. Fixed wireless devices enable users to maintain connectivity in remote areas without the need for long cable wires. Furthermore, fixed wireless devices have high bandwidth capability in order to give access to interrupted network availability. OLED materials are used to build these wireless devices. Thus, rise in demand for wireless devices is expected to boost the consumption of OLED materials, thereby driving the market during the forecast period.
- Growth in demand for OLED materials in the automotive sector is projected to present new opportunities for OLED material manufacturers in the near future. Increase in SUV sales and advancements in lighting technology are some of the major factors boosting the consumption of OLED materials in the automotive industry, thereby driving the market during the forecast period. Additionally, presence of strict lighting regulations in developed countries of Europe and North America is boosting the consumption of OLED materials in the automotive industry in these regions.
Restraints of OLED Materials Market
- Dearth of universal directives pertaining to applications of OLED materials is likely to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of OLED materials. Companies find it difficult to meet these country-wise directives and legislations. This can discourage investment in the OLED materials market, thereby adversely affecting the market.
Covid-19 Impact on OLED Materials Market
- OLED materials play an important role in various sectors such as automotive, industrials, and commercial. Many production facilities of these sectors have been closed due to the COVID-19 pandemic. This has adversely affected the demand for OLED materials.
- Key players operating in the OLED materials market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these manufacturers are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of OLED materials. Thus, demand for OLED materials declined in 2020.
Asia Pacific to Hold Major Share of Global OLED Materials Market
- In terms of region, the global OLED materials market can be split into North America, Asia Pacific, Europe, Middle East Asia& Africa, and Latin America
- In terms of consumption, Asia Pacific is projected to hold significant share of the global OLED materials market during the forecast period. End-user industries such as commercial, residential, and industrial are rapidly expanding in the region. Rise in disposable income and improvement in standard of living in many countries in Asia Pacific are boosting the consumption of electronics devices. This, in turn, is augmenting the demand for OLED materials. OLED materials are also used in the lighting automotive components. Rise in production and sale of passenger vehicles in China, India, Japan, and South Korea is expected to propel the consumption of OLED materials in automotive applications, thereby boosting the market in these countries.
- North America is projected to account for vital share of the global OLED materials market during the forecast period owing to presence of major automotive players and growth in the electrical & electronics industry in the U.S. and Canada
Prominent Players in Global OLED Materials Market
Major players operating in the global OLED materials market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. Key players operating in the market include:
- Sigma-Aldrich Co. LLC.
- Novaled GmbH
- Merck KGaA
- LG Chem
- TCI America
- Sumitomo Chemical
- Universal Display
- The Dow Chemical Company
- Idemitsu Kosan Co., Ltd
- Cambridge Display Technology
- Beijing Aglaia Technology Development Co., Ltd.
- BASF SE
- Borun Chemical Co., Ltd.
- Hodogaya Chemical Group
- Heraeus Holding
- Covestro AG
Research Scope; OLED Materials Market
OLED Materials Market, by Type
- Hole Injection Layer (HIL)
- Hole Transport Layer (HTL)
- Electron Transport Layer (ETL)
- Emissive Layer (EML)
OLED Materials Market, by Application
- Television & Monitors
- Notebooks & Tablets
OLED Materials Market, by End-user
OLED Materials Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.