OLED Materials Market Expected to Reach $2.43 Billion by 2028

According to a new report by UBI Research, the global market for OLED emitting materials is projected to grow at an average annual rate of 5.8%, reaching $2.43 billion in 2028, up from $1.84 billion in 2023.

Source: UBI Research

The report predicts that purchases of materials by Korean panel makers will increase at a 4.2% annual pace, from $1.11 billion this year to $1.36 billion in 2028. Meanwhile, Chinese companies are forecasted to grow their material spending from $730 million to $1.07 billion over the same period.

By 2028, Korea is expected to account for 56% of total material purchases globally, while China takes a 44% market share. However, UBI Research notes that most Chinese panel production currently targets domestic and low-price markets, meaning expansion could slow if this mix continues. Samsung Display is forecasted to spend $810 million on emitting materials in 2028, LG Display $550 million, and BOE $440 million. These three companies are expected to drive much of the growth in the coming years.