OLED Materials Market Future of Market Size How Data Analytics is Driving Business Growth

A recent report by Allied Market Research titled "OLED Materials Market by Type, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2023," indicates substantial growth in the global OLED materials market. In 2016, the market was valued at $5,932 million and is projected to reach $25,731 million by 2023, with a remarkable CAGR of 26.3% during the forecast period.

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The dominance of the Asia-Pacific region is evident, accounting for over two-thirds of the market share in 2016. Factors such as lifestyle changes, population growth, and the increasing demand for smartphones are driving the growth of OLED materials.

Substrates represent a significant portion of the OLED materials market, with the cathode segment expected to gain momentum in the near future. The display segment, particularly driven by smartphones and television & monitors, held a substantial share in 2016 and is projected to maintain its dominance.

Key findings from the study include:

- The cathode segment is expected to grow at a CAGR of 31.9% during the forecast period.
- The LAMEA region is anticipated to witness the highest growth, with a CAGR of 30.8%.
- China and India are expected to occupy a significant portion of the Asia-Pacific OLED materials market by 2023, with India projected to grow at a CAGR of 25.6%.
- The Asia-Pacific region held the highest share in 2016 and is poised to continue its dominance, with the LAMEA region also showing significant growth due to increased adoption of OLED in smartphones and televisions.

Key players in the OLED materials market include Sigma-Aldrich Co. LLC., DuPont, Novaled GmbH, Merck KGaA, LG Chem, TCI America, Sumitomo Chemical, Universal Display, The Dow Chemical Company, and Idemitsu Kosan Co., Ltd.

Obtain Report Details: https://www.alliedmarketresearch.com/OLED-materials-market

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.