Press release
Growing Use of Organic Light-Emitting Diode (OLED) Materials in Smartphones’ Displays to Boost Market
MarketResearchReports.biz has announced the addition of a new report, titled “Global Organic Light-Emitting Diode (OLED) Materials Market 2017-2021”. The report on global organic light-emitting diode materials offers comprehensive insights into the key drivers and restraints, share and size of various segments, current trends and emerging opportunities, and competitive dynamics. The research analyzes key developmental factors influencing the demand for OLED displays in various end-use industries. The study highlights key technological advancements and evaluates their role in boosting adopting in the consumer electronics and gaming and entertainment industries. Recent product innovations in OLED display technologies and their market scope are also assessed in the analysis.
The surge in adoption of OLED displays in a variety of electronic devices, especially smartphone, is a primary factor driving the market. The extensive use of smartphones with advanced displays has increasingly fed the demand for OLED materials. This is evident from the recent robust shipment of smartphones in emerging market such as China. Several phone makers are preferring displays made up OLED materials since they consume less battery power and offer advanced resolution. The global market for OLED materials is expected to rise at a CAGR of 5.71% from 2017 to 2021.
The soaring popularity of tablets and notebooks, especially in the education sector, is expected to boost the OLED materials market. The growing popularity of OLED displays in televisions and the extensive use of OLED displays in the media and broadcasting industries have catalyzed the OLED materials market growth. Recently, various prominent TV manufacturers have gone for OLED screen upgrades, this is expected to fuel the market.
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The soaring demand for OLED materials in virtual reality technologies in the gaming industry is further anticipated to accentuate the market growth. Advancements in manufacturing processes, such as modern printing technologies, is expected to augur well for the market. Increased adoption of wireless devices and the growing popularity of cloud-based models have positively impacted the OLED materials market. The use of OLED materials in the automotive industry is expected to open abundant opportunities for market players. The growing prominence of OLED as alternative sources of lighting in homes is likely to open up lucrative growth avenues in the coming years.
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Asia Pacific market is the leading market for OLED materials and accounted for the major share in 2016. The impressive growth of the regional market is attributed by the large presence of key electronics companies in countries such as India and China. Furthermore, constant advancements in the electronics industry is anticipated to fuel the OLED materials market in various emerging and advanced nations in Asia Pacific.
Major vendors operating in the organic light-emitting diode materials market include Universal Display Corporation, LG Chem, Doosan Group, Konica Minolta, Sumitomo Chemical Co., Ltd., Merck & Co., Inc., and DuPont.
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