The OLED Market

OLED technology is quickly taking over the display market and are adopted today in smartphones, wearables, laptops and TVs, and in many other devices and applications. OLEDs deliver the best image quality and enable the production of efficient, thin, flexible and transparent displays.

Flexible OLEDs are being adopted by more and more device makers – as these displays offer design freedom in addition to being lighter and more durable than rigid glass-based displays. Phones with foldable OLEDs are already on the market and are expected to grow in popularity – and future rollable and stretchable OLEDs will enable new types of devices we cannot even imagine today!

The OLED display market grew rapidly in the last few years, and in 2020 it reached over $30 billion in revenues. The market is expected to continue its fast growth fueled by high demand for OLED displays for smartphones, wearables, laptops and TVs. DSCC estimates that by 2024, over a billion OLED panels will be produced annually which will drive OLED sales to reach almost $50 billion.

OLED display revenues, 2019-2024 (source: DSCC, 2020)

The mobile OLED market is dominated by Samsung Display, who started producing AMOLED displays in 2007, but more and more display producers are rushing to join the OLED market – including LG Display, BOE, EverDisplay (EDO), Visionox, Truly, AU Optronics (AUO) and JOLED. The OLED TV market is also growing, with revenues of over $7 billion expected in 2024. The major OLED TV Display producer is LG Display – but it is likely that more makers will enter this market as demand for OLED TV panels is on the rise.

The OLED material market

A rapidly growing OLED industry requires a significant amount of OLED materials. According to DSCC, OLED material sales generated over $1.1 billion in revenues in 2020, and is set to grow to over $2.4 billion in 2025. The OLED market is always in need for more efficient emitter materials, and Kyulux’s TADF and Hyperfluorescence™ technologies will enable OLED displays that are more efficient and longer lasting compared to the displays of today.

OLED material revenues, 2020-2025 (source: DSCC, 2021)