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According to research from market research company UBi Research, the market for luminescent materials used in OLEDs is expected to grow at an average annual rate of 5.8%, from US$1.84 billion in 2023 to more than US$2.43 billion in 2028.
The market for organic light-emitting diode (OLED) light-emitting materials is expected to exceed $2.4 billion by 2028, with China expected to account for 44% of this growth.
Looking at trends across countries, South Korean panel companies’ material expenditures are expected to increase from US$1.11 billion in 2023 to US$1.36 billion in 2028, with an average annual growth rate of 4.2%.
China’s materials spending is expected to increase significantly, from $730 million in 2023 to $1.07 billion in 2028. As a result, country-specific material sourcing is expected to reach 56% in South Korea and 44% in China by 2028.
At the corporate level, Samsung Display’s spending on luminescent materials is expected to reach US$810 million by 2028, and LG Display will reach US$550 million. BOE, China’s leading display company, is expected to spend about $440 million.
(Source: businesskorea Image source: freepik)
