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The OLED luminescent materials market is expected to grow at an annual rate of 5.8%.

Release Date:

2023-12-08 00:00

Source:

Market research firm UBI Research predicted on December 4 that the OLED lighting materials market will expand from US$1.84 billion this year to US$2.43 billion by 2028, with an average annual growth rate of 5.8%.

On December 4, market research firm UBI Research forecast that the OLED lighting materials market will expand from US$1.84 billion this year to US$2.43 billion by 2028, with an average annual growth rate of 5.8%.

According to the analysis, during this period, South Korea’s materials procurement is expected to grow at an average annual rate of 4.2%, expanding from this year’s $1.11 billion to $1.36 billion by 2028. Meanwhile, China’s materials procurement is projected to increase from $730 million this year to $1.07 billion by 2028.

If current projections hold, South Korea and China are expected to account for 56% and 44%, respectively, of OLED light‑emitting material purchases in 2028. However, Chinese panel manufacturers may also opt for lower‑priced materials, which could lead to a contraction in China’s OLED light‑emitting material market compared with current forecasts.

From a corporate perspective, UBI Research forecasts that by 2028, Samsung Display’s spending on emissive materials will reach US$810 million, LG Display’s will total US$550 million, and BOE’s will amount to US$440 million.

Source: LCD Net

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