OLED Panel Market 2019 Global Leaders: Lg Display, Samsung Electronics, Optronics, Innolux, Sharp, Boe Technology Group And Japan Display

The OLED panel market is expected to grow at a CAGR of 15.44% over the forecast period (2018 - 2023). The scope of the report includes insights on the solutions offered by major players providing hardware, professional services, and associated solutions. Regions considered in the study are North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also emphasizes on various segmentation such as type, display address schemes, size, and products.

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OLEDs are flexible (when a plastic substrate is used), slim, and lightweight. Recently, there has been widespread adoption of OLED display manufacturing by many vendors. Even though OLEDs are flexible, the generated low heat and the broad spectrum of OLED emission allow for a full coverage of visible spectrum, the options are limited in terms of optimizing the trade-off between color quality and efficacy. This is because of red emission in the infrared regime and the lack of efficient and long life blue emitters.

Key Developments in the Market
• February 2018 - Universal Display Corporation, announced the signing of long-term OLED material supply and license agreements with Samsung Display Co. Ltd (SDC). These agreements affirm that Universal Display will continue to supply its proprietary Universal PHOLED phosphorescent OLED materials and technology to Samsung Display for use in its OLED displays. The agreement is scheduled to end until December 31, 2022, and may be extended for an additional two-year period.
• February 2018 - Universal Display Corporation announced an OLED evaluation agreement with Kunshan Govisionox Optoelectronics Co. Ltd. Under this agreement, Universal Display (UDC) will supply Govisionox (GVO) with its proprietary UniversalPHOLED phosphorescent OLED materials for display applications.
• December 2017 - Universal Display Corporation announced the signing of long-term OLED Agreements with BOE Technology Group Co. Ltd. Under the agreements, UDC is to supply phosphorescent OLED materials to BOE Technology.

The major players include –
LG DISPLAY CO. LTD, SAMSUNG ELECTRONICS CO. LTD, OPTRONICS CORP., INNOLUX CORPORATION, SHARP CORPORATION, BOE TECHNOLOGY GROUP CO. LTD, AND JAPAN DISPLAY INC., amongst others.

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Continuous R&D Responsible for a Commercially Successful Market
South Korea, despite its small size, has by far the most extensive network of academic R&D in OLED technology. The country has seen huge investments, primarily from the electronics giants, Samsung and LG. Samsung has been investing an average of USD 5 billion per year for the development of OLED technology, and LG in the past announced of plans to invest about USD 8.4 billion over the next few years for the development of future displays, such as OLED, flexible, and high-end screens. The conglomerate is aggressively competing to dominate the market.
Although manufacturing of OLED is more expensive and complex than LCD TVs, the manufacturing experience that these giants gain for displays will be of huge value for the overall cost reduction of OLED products. Along with this, the government of South Korea is encouraging the development of OLED supply chain and is contributing to support the universities and research institutes. Even the governments of Japan, Taiwan, and US are encouraging OLED research. Department of Energy (DOE) received approximately USD 25.8 million from Congress last year, which was used for product development, core technology, and manufacturing of OLEDs.

China is the Dominant Manufacturer and Market for OLED Panel
China is the global hub for manufacturing. The country is the largest exporter of goods and is the fastest-growing consumer market in the world. China boasts of the world’s largest television market. LG is planning to collaborate with the retailers and TV makers in China to expand their OLED panel business, the sales of OLED display panels is expected to grow exponentially in this region. The OLED market is also attracting many Chinese makers including Haier Group, Skyworth, Hisense, and Changhong, who are looking for an opportunity to gain a significant footing in the next 3-5 years.
An important factor for market demand is the huge smartphone market in China. According to market estimates China-based display makers shipped 9.8 million OLED displays in 2017, mostly for smartphone applications. Everydisplay was the largest producer in terms of units, shipping 3.8 million displays (enjoying large orders from Huawei and Hisense), while Visionox topped as a vendor in terms of display area shipped that was 30,000 square meters, out of a total 78,000 sqm produced in China in 2017. The local mobile operators are providing discounts through their retail channels to expand the adoption of 4G devices, which is expected to drive the smartphone market, and hence the OLED display market in smartphones.

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