According to “3Q22 OLED Components & Material Market Track” published quarterly by UBI Research, the market for major Components & Material in the second quarter of 2022 was estimated to be $3.55 billion. It fell 7.9% from the previous quarter and rose 8.9% from the same quarter last year. The main reason why the market for Components & Material decreased in the second quarter compared to the previous quarter is that shipments of flexible OLED panels of Samsung Display, BOE, and LG Display decreased.
Samsung Display, BOE, and LG Display’s flexible OLED shipments in the second quarter of 2022 were analyzed to be 43.5 million units, 14.1 million units, and 5.7 million units, respectively. This is a drop of 17.3%, 29.9%, and 40.6%compared to the previous quarter. It was analyzed that Driver IC&COF formed a market of $1.77 billion in the second quarter of 2022, process films formed a market of $63.2 million, and OCA formed a market of $52.4 million.
The markets for major parts and materials of OLED are divided into countries (Korea and China) and the expected markets until 2026 are shown as cumulative graphs based on 100%.
Chinese panel manufacturers’ purchases of Components & Material are expected to increase by 2.5% annually from $6.11 billion in 2022 to $6.76 billion in 2026, while Korean panel manufacturers are expected to purchase materials in the amount of $9.99 billion in 2026 at an annual average growth rate of 2.1%, from $9.09 billion in 2022.
Based on the purchase amount of Components & Material, Samsung Display is expected to account for 40% over the next five years, and LG Display and BOE are expected to account for 20% and 17%, respectively. Among Chinese panel manufacturers, it is predicted that material purchases will be high in the order of BOE, Visionox, TCL CSOT, and Tianma.
“3Q22 OLED Components & Material Market Track” selected 20 major OLED parts material manufacturers and conducted market research. The quarterly market was investigated by dividing it into eight categories: Substrate, TFT, Encapsulation, Touch Sensor, Polarizer, Adhesive, Cover Window, and Module, and market share was analyzed by company and application (TV, Mobile). In addition, the supply volume and market for each component material by 2026 were predicted. The Market Track Quarterly Report provides necessary information to industry leaders in OLED industries.