Why Is OLED Material Consumption Highest in Asia-Pacific?

The technology of TV displays has evolved significantly from the cathode ray tubes of the mid-20th century to the liquid crystal displays (LCDs) and light-emitting diodes (LEDs) of the first decade of the 21st century. With efforts on to make the displays even better, organic light-emitting diodes (OLEDs) have been invented, which are rapidly becoming popular in TVs, smartphones, laptops, tablets, and automotive displays. This is because of the several advantages OLED screens offer, including brighter pictures, larger viewing angles, ability to work in a wider temperature range, and lower power consumption.

Moreover, OLEDs are so thin that they can be used for curved and folded screens, which are becoming rapidly popular, especially in wearable devices and other consumer electronics. Similarly, transparent displays, which are helping revolutionize advertising activities, have become possible due to OLEDs. P&S Intelligence cites these advantages and the constant research being put in to make the technology better while forecasting that the OLED materials market value, which stood at $6,000.0 million in 2016, will reach $27,818.4 million by 2023, at a 24.5% CAGR between 2017 and 2023.

Due to the high automotive and consumer electronics production, the OLED materials market will continue to be led by Asia-Pacific (APAC) in the years to come. China, South Korea, India, and Japan are home to some of the largest consumer electronics and automotive manufacturers. Moreover, with the rising urbanization rate in the region, the purchasing power of people is increasing, which is propelling automotive and consumer electronics sales. In addition, the road accident and fatality rates are rather high here, which is why most of the vehicles in the future are expected to have ADAS.

GLOBAL OLED MATERIALS MARKET

  • By Type – Cathode, EML, ETL, HIL, Anode, Encapsulation, Substrates, and Others
  • By Application – Display (Television and Monitors, Smartphones, Notebooks and Tablets, Automotive, and Others), and Lighting
  • By End User – Residential, Commercial, and Industrial
  • By Region – North America, Europe, Asia-Pacific (APAC), and LAMEA

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