According to the Korea Display Industry Association (KDIA), Korea’s display panel revenue in 2024 rose to $44.2 billion, a 13.3% increase over 2023. The results follow a decline in 2023 revenue with global inflation pressures and weakened demand in key sectors. The 2024 performance is attributed primarily to the integration of OLED panels into high-demand consumer electronics.
Korea’s global display market share in 2024 stood at 33.1%, a slight decrease from 33.2% in 2023. However, Korea retained a dominant position in the OLED segment, holding a 67.2% share of the global OLED market (approximately $36.3 billion of the $54 billion global OLED market), despite the increasing volume output from Chinese competitors. The global display market is projected to grow 4.6% to $139.3 billion in 2025, driven by increased demand for premium OLED (e.g., LTPO), AI proliferation in IT and automotive sectors, and new form factors.
| Year | Type | Global Market Size (USD Million) | Korean Company Revenue (USD Million) | Revenue Share (%) |
|---|---|---|---|---|
| 2022 | OLED | 42,061 | 34,203 | 76.1% |
| 2022 | LCD | 79,590 | 10,765 | 23.9% |
| 2023 | OLED | 42,828 | 31,516 | 80.8% |
| 2023 | LCD | 74,520 | 7,490 | 19.2% |
| 2024 | OLED | 44,017 | 36,280 | 82.1% |
| 2024 | LCD | 79,215 | 7,930 | 17.9% |
While the LCD market grew by 6.3% to $79.2 billion, Korea’s share declined slightly to 10%, impacted by strategic business shifts away from low-margin products. Korean firms continue to divest from large-scale LCD manufacturing, including the sale of TV-use 8th-generation fabs.
| Application | Global OLED Market Size (USD) | YoY Growth | Korea’s Share | Commentary |
|---|---|---|---|---|
| Smartphones | $41.8B | +18.1% | 62.8% | Share declined 9%p due to rising Chinese production. |
| IT (e.g., iPad, monitors) | $4.8B | +269% | 86.9% | Boosted by first-time OLED adoption in Apple iPads and gaming monitors. |
| TV | $3.77B | +18.9% | Nearly 100% | Korea retains full dominance in OLED TV panel supply. |
| Automotive (OLED) | $890M | +112% | 76.1% | Share declined 5.5%p due to China’s domestic subsidy expansion. |
Korea remains a leader in premium LCD for automotive applications, particularly LTPS panels, holding 27% of this high-end subsegment.
| LCD Application | Global Market Size | Korea’s Share (2024) | Change from 2023 |
|---|---|---|---|
| TV | $27.6B | 5% | +1.5%p |
| IT | $28.7B | 16.6% | -2.5%p |
| Automotive (LCD) | $11.5B | 12.2% | +0.3%p |
In 2024, Korea improved on its OLED materials ecosystem with Red emissive layer share at 25%, Green at 70%, and Blue at 59%. The gains reflect successful partnerships between Korean materials companies and major Chinese panel manufacturers, as well as increased production of rigid OLED smartphones.
| Country | Total Market Share 2023 | Total Market Share 2024 | OLED Share 2023 | OLED Share 2024 | LCD Share 2023 | LCD Share 2024 |
| Korea | 33.20% | 33.10% | 73.60% | 67.20% | 10.10% | 10.00% |
| China | 48.10% | 50.80% | 5.70% | 33.30% | 60.90% | 63.40% |
| Taiwan | 16.70% | 14.60% | 0.10% | 0.50% | 26.20% | 24.40% |
| Japan | 1.70% | 1.10% | 0.60% | 0.00% | 2.30% | 1.60% |
| Others | 0.40% | 0.40% | 0.00% | 0.50% | 0.60% | — |
Despite facing an aggressive volume-driven expansion from Chinese competitors and ongoing trade policy uncertainties, Korean display companies have managed to hold on to their leadership in the global market, mostly from concentrating on premium OLED technologies, diversifying applications, and leveraging their technological edge.
