"OLED Emitting Material Demand to Grow at an Annual Average Rate of 7.9% Until 2028"

UBI Research Report... "131t in 2024 → 177t in 2028"

Demand for organic light-emitting diode (OLED) emitting materials is expected to grow at an average annual rate of 7.9% until 2028.

Samsung Display's IT-use UT OLED panel (left) and liquid crystal display (LCD) panel. [Photo by Samsung Display]

Market research firm UBI Research stated in its '2024 OLED Emitting Materials Report' published on the 30th that the demand for OLED emitting materials will increase from 131 tons this year to 177 tons in 2028.

According to the report, Samsung Electronics' application of rigid OLED to the Galaxy A budget model has led to an increase in Samsung Display's rigid OLED shipments, which were previously expected to decline. It is analyzed that the demand has increased as OLED is installed in IT devices including Apple iPads.

UBI Research forecasted that the overall OLED emitting materials market will grow from $2.4 billion (approximately 3.3 trillion KRW) in 2024 to $2.7 billion (approximately 3.7 trillion KRW) in 2028.

Korean panel makers are expected to increase their purchase amount from $1.4 billion (approximately 1.9 trillion KRW) in 2024 to $1.5 billion (approximately 2.1 trillion KRW) in 2028, while Chinese panel makers are projected to raise their purchases from $980 million (approximately 1.35 trillion KRW) to $1.21 billion (approximately 1.7 trillion KRW) during the same period.