Posts

The purchase volume of OLED emitting materials in the third quarter of 2024 is expected to reach 32.7 tons, the highest ever purchase volume of emitting materials in 2024

/in , , , , /by

According to UBI Research’s ‘4Q24_Quarterly OLED Emitting Material Market Tracker’, the purchase volume of emitting materials in the third quarter of 2024 was calculated to be 32.7 tons. Previously, material purchases were highest in 2021, when the market expanded due to COVID-19, but the all-time high was renewed in the third quarter of 2024. Considering the characteristics of OLED emitting materials, which show the highest usage in the fourth quarter of every year, it is expected that 2024 will see the highest usage ever.

Looking at each company, Samsung Display consistently holds the highest market share. Samsung Display had a 41.4% share in the entire OLED emitting material market based on purchase volume, followed by LG Display with 20.5%, BOE with 11.6%, and Visionox with 8.3%.

By substrate, RGB OLED still maintains the 80% level with a market share of 83.7% based on purchase volume, and as 8.6G lines begin to operate in earnest, RGB OLED’s market share is expected to gradually decline. WRGB-OLED’s market share was 11.3%, similar to the second quarter, and QD-OLED’s market share was 2.8%.

The market share of RGB 2 stack tandem OLED once rose to 6.4% in the second quarter due to a surge in iPad Pro OLED shipments but fell to the 2.2% range in the third quarter due to low demand. Compared to panel shipments, IT devices that use 2-stack tandem OLED for smartphone OLED, which uses single stack OLED, have large panel areas and have two light-emitting layers, so material purchase volume accounted for a higher share than shipment volume.

However, as BOE’s 8.6G line was confirmed to supply OLED for smartphones first, the growth of the 2 stack tandem OLED market was in the hands of Samsung Display. Starting in 2026, when OLED is expected to be applied to MacBook Pro, the purchase amount of light emitting materials applied to 2 stack tandem OLED is expected to more than double compared to 2024. The 2-stack tandem OLED panel supplied to MacBook Pro is expected to be supplied first by Samsung Display.

Junho Kim, UBI Research analyst(alertriot@ubiresearch.com)

▶OLED Emitting Material Market Track Sample

In 2028, the OLED emitting material market is expected to reach $2.43 billion with an average annual growth rate of 5.8%

/in /by

According to the ‘4Q23_Quarterly OLED Emitting Material Market Tracker’ recently published by UBI Research, the market for emitting materials used in OLED is forecasted to grow from $1.84 billion in 2023 to $2.43 billion in 2028, with an average annual growth rate of 5.8%.

By country, Korean panel companies’ material purchases are expected to grow at an average annual growth rate of 4.2% from $1.11 billion in 2023 to $1.36 billion in 2028, and Chinese’ material purchases are expected to increase from $730 million in 2023 to $1.07 billion in 2028.

As forecasted, the material purchase ratio by country in 2028 will be 56% in Korea and 44% in China. However, Chinese panel companies are mainly mass producing panels for Chinese domestic use and white boxes, so even if panel shipments increase in the future, low-priced materials will be used. So, there is a possibility that the expansion of China’s emitting material market will be reduced further than currently expected.

Lastly, UBI Research predicted that Samsung Display’s purchase of emitting materials in 2028 will reach $810 million, LG Display’s will reach $550 million, and BOE will reach $440 million.

OLED emitting material market

OLED emitting material market

▶ 4Q23 OLED Emitting Material Market Track Sample Download

In 2027, OLED emitting material market is expected to grow 8.6% annually and is expected to reach US$2.75 billion

/in , , /by

According to the ‘4Q22 OLED Emitting Material Market Track’ recently published by UBI Research, global panel companies’ purchase of OLED emitting materials in the third quarter of 2022 amounted to US$4.96 billion. This is an increase of 20.9% compared to the previous quarter and 10.9% compared to the same quarter last year.

In the third quarter of 2022, Samsung Display’s rigid OLED shipment decreased to less than 20 million units, and the market for rigid OLED emitting materials decreased, but the supply of new panels by panel companies increased for iPhone 14 series. It was analyzed that the expansion of the use of materials with deuterium replacement technology and the rise in the exchange rate affected the increase in purchase amount.

UBI Research predicted that the overall emitting material market will grow from US$1.82 billion in 2022 to US$2.75 billion in 2027 with an average annual growth rate of 8.6%.

OLED emitting material market forecast

OLED emitting material market forecast

Yoon Dae-jeong, an analyst at UBI Research, said, “In the small OLED material market, Samsung Display’s shipments of rigid OLEDs will continue to decline, but foldable OLEDs will expand to 80 million units by 2027, and purchases of emitting materials are expected to be US$ 680 million by 2027. In addition, BOE and LG Display’s purchases of emitting materials are expected to be US$ 380 million and US$ 230 million, respectively, in 2027.” He added, “As shipments of LG Display’s WOLED and Samsung Display’s QD-OLED are expected to be in the mid-12 million and early 2 million units respectively in the large OLED material market in 2027, purchases of emitting materials are also expected to be US$4.2 billion and $13 billion, respectively.” In this report, RGB OLED is expected to account for the largest share with 69.1% by OLED deposition method in 2027, and WOLED is expected to account for 15.2%, RGB 2stack OLED 11.1%, and QD-OLED 4.6%.

▶ 4Q22 OLED Emitting Material Market Track Sample Download

OLED emitting materials market to grow to $ 1.71 billion in 2019

/in /by

OLED light emitting materials market is gradually increasing as Chinese companies enter OLED panel market led by Samsung Display and LG Display.

The 2019 OLED emitting material report, published by UBI Research, predicts that the emitting material market in 2019 will reach $ 1.17 billion. 2021 and 2023 are expected to grow to $ 1.87 billion and $ 2.0 billion, respectively.

The size of light emitting materials consumed by Korean companies will account for 70.2% in 2019 ($ 0.82 billion), and its share will increase to 75.6% in 2023.

Korea’s emitting material market is growing because the consumption of OLED materials for TVs is soaring. In 2019, 21.1% of light emitting materials for TVs are expected to increase to 49.7% in 2023.

Expect to hit 1 trillion won in OLED emitting material market for 2017

/in , /by

The OLED emitting material market is expected to exceed 1 trillion won in 2017.

The OLED emitting material market grew by 15%, about US$ 650 million versus 2015 according to “OLED emitting material Report-2nd data spread sheet” of Ubi research and it expects to achieve about US$ 980 million that over 1 trillion won in terms of Korean currency in 2017.

A researcher of Ubi Research said, “Despite continued price declines of OLED emitting materials, the 15% growth of the OLED materials market has analyzed due to the increased operation ratio of Samsung Display and LG Display in 2016. The OLED emitting material market in 2017 will be sharply grow through in earnest operating of A3 line of Samsung Display and E4 line of LG Display invested in 2016.”

Additionally mentioned, “The OLED emitting materials companies should pay attention to the high operation ratio of OLED production lines in China in 2017. Although the quantities of consumed for OLED materials of current Chinese company are less, but, the investment in mass production lines for Gen6 flexible AMOLED panels is underway, and sales volume of AMOLED panel companies in China may expect to grow sharply in the OLED emitting materials market. Therefore, the OLED emitting material companies should concentrate sales business for China in order to grow.

As such, the competition among related companies is expected to intensify because the OLED emitting material market would be increasing sharply in 2017.

Meanwhile, according to the report on the major performance by company in 2016, Samsung SDI (including Novaled) ranked first, followed by Idemisu Kosan (Japan) and UDC (US).

<Performance of emitting material market in 2016 and Forecasting in 2017>