Organic Light-Emitting Diode (OLED) Materials Market to Register 24.5% CAGR during 2017–2023

The world has moved from conventional display technologies, such as cathode-ray tubes and liquid color display (LCD), to the light-emitting diode (LED) display technology, owing to its several benefits over other technologies. At the present time, the focus has been shifting towards organic light-emitting diode (OLED) technology, as OLEDs are even better than LEDs. OLED display panels are made from organic materials which emit light when electricity is passed through them. These displays are simpler to make, more efficient, thinner, and more flexible, as they do not need filters and a backlight like LCDs.

Get a sample copy of this report@ https://www.psmarketresearch.com/market-analysis/oled-materials-market/report-sample

OLED displays provide brilliant picture quality– fast response rate, excellent colors, wide viewing angles, and infinite contrast. Owing to these advantages, the global OLED materials market reached a value of $6,000.0 million in 2016 and is predicted to generate a revenue of $27,818.4 million by 2023, advancing at a 24.5% CAGR during the forecast period (2017–2023). Different types of OLED materials are substrates, hole injection layer, emissive layer, electron transport layer, anode, and encapsulation. Out of these, the demand for substrates was the highest in the past, which can be ascribed to the fact that they easily available.

OLED displays provide brilliant picture quality– fast response rate, excellent colors, wide viewing angles, and infinite contrast. Owing to these advantages, the global OLED materials market reached a value of $6,000.0 million in 2016 and is predicted to generate a revenue of $27,818.4 million by 2023, advancing at a 24.5% CAGR during the forecast period (2017–2023). Different types of OLED materials are substrates, hole injection layer, emissive layer, electron transport layer, anode, and encapsulation. Out of these, the demand for substrates was the highest in the past, which can be ascribed to the fact that they easily available.

Browse full report with detailed TOC@ https://www.psmarketresearch.com/market-analysis/oled-materials-market

Other than this, car manufacturers are also shifting towards OLED display from the conventional LED displays because of their positive attributes, such as being lighter, thinner, and more flexible as compared to crystalline layers in LCD or LED. Industrial, commercial, and residential sectors are the major end users of OLED materials. Out of these, the residential sector crae5ted the largest demand for OLED materials in the past, which can be owing to the growing number of residential projects that are predicted to make use of OLED displays and lighting.

Make enquiry before purchase: https://www.psmarketresearch.com/send-enquiry?enquiry-url=oled-materials-market

Geographically, Asia-Pacific has been the largest OLED materials market in the past. This is because of the surging population in the region driving the demand for residential facilities, which, in turn, are resulting in the increasing need for OLED materials for lighting and display purposes. In addition to this, because of the growth in disposable income of people in countries such as India and China, the demand for smartphones with enhanced display qualities is also increasing, which is further resulting in the rising need for OLED materials.

Some of the major players operating in the OLED materials market industry are Bayer AG, DowDuPont Inc., Idemitsu Kosan Co. Ltd., LG Chem, Merck KGaA, Novaled GmbH, Sumitomo Chemical Company Limited, TCI America, Universal Display Corporation, and Heraeus Holding GmbH.

In conclusion, the benefits of OLED display, growing demand for smartphones, and increasing residentials projects are driving the requirement for OLED materials.

P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com

About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.