According to OLED Net, industry sources have revealed that LG is considering launching an OLED material technology centre in Chengdu, China, following in the footsteps of Merck, which announced its OLED Technology Centre in Shanghai last week. OLED Net writes:
“This trend of OLED material makers is interpreted as aiming at the growing Chinese market. If they build their base in China, it will be easy to use the localisation strategy specialised in the Chinese market, and to secure their suppliers”.
UBI Research recently reported that the global OLED materials and components market will grow at a CAGR of 29% between 2018 and 2022, reaching a value of $37 billion. The Korean market will grow at a CAGR of 21%, while China will grow at a much higher CAGR of 69%, reaching a value of $1.16 billion by 2022.
