The market for OLED materials used in mobile and TV products is expected to be worth US$1.74 billion this year, according to analyst firm UBI Research.
This market will grow 9% per year on average up to 2025 when it will be worth US$2.29 billion, the firm said.
OLED materials used in tablets and notebooks were excluded from UBI Research’s estimate.
By country, South Korean panel makers will account for US$1.23 billion of the market this year, the analyst firm said, or 71% share. They will account for US$1.55 billion and 68% share in 2025.
Samsung Display will continue to be a big buyer in OLED materials while LG Display will purchase more as the OLED material market for large panels will continue to expand.
Meanwhile, Chinese panel makers will account for US$510 million of the market this year and US$740 million in 2025.
By deposition method, Gen 6 small-sized RGB OLED panel materials will account for 78.3% market in 2025, UBI Research noted, while WRGB OLED panel materials will account for 18% in the same year.
QD-OLED material will only account for 3.7% in the same year, the analyst firm added.