Global Flexible OLED Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Market Overview

The Global Flexible OLED Market is expected to register a CAGR of 39.4% during the forecast period. OLED display technology, which provides beautiful and efficient lighting panels, is already being used in many mobile devices and TVs. Flexible OLED is the next-generation technology that enables opportunities for folding and curving these displays on applications.

• OLED is an emerging display technology that enables beautiful and efficient displays and lighting panels. OLEDs are already being used in many mobile devices and TVs, and the next generation of these panels will be flexible and bendable. OLEDs are the latest generation technology in the display industry and provide superior performance and enhanced optical characteristics compared to older LED and LCDs.
• The usage of flexible display technology in smartphones and tablets looks a bit unclear as with external factors such as user acceptability, protection and cost-effectiveness being some of the major challenges to be met by the smartphone companies, but it can find its wide usage in other industry such as automobiles and transportation.
• As of the recent developments Samsung Display plans to build a new 6-Gen flexible OLED line. The new line will replace a current LCD line that is used to produce TVs at SDC's Asan plant. The new fab, will cost around KRW 3 trillion or around USD 2.7 billion and will have a monthly capacity of 30,000 monthly substrates. This will increase Samsung Display AMOLED production capacity to 195,000 monthly substrates.
• Also, in November 2021, Samsung Displays, entered the medium-sized OLED market with the new high-refresh-rate displays for laptops. Samsung Display’s flexible OLED screens can be folded, rolled, or slid. It feature high brightness, HDR10+ content playback, a low folding radius (R1.4), and better screen protection (UTG) compared to products from rival firms. The displays can be folded more than 200,000 times, equivalent to 100 folds and unfolds every day for five years.
• Further, the market is witnessing innovation. In January 2022, the customized 3D printing of a flexible organic light-emitting diode (OLED) display has been developed by a team from the University of Minnesota Twin Cities in the United States. The breakthrough, which is based on the conversion of electricity into light using an organic material layer, could lead to inexpensive OLED displays for handheld or wearable electronics made at home using 3D printers.
• COVID-19 has had a detrimental influence on the market as a result of several cities being shut down, causing damage to the supply chain for phone and display production, and reducing smartphone sales around the world. With more strict measures being imposed by governments throughout the world, the lockdown, which has brought economic activity to a halt, is projected to have a stronger impact in the near future. A lengthy lockdown has resulted in the temporary closure of factories, causing production and shipping of commodities to be hampered.

Scope of the Report

The Global Flexible OLED Market is segmented by Technology (AMOLED, PMOLED), by Application (Mobiles and Tablets, Monitors and TV's, Wearables), and by Geography. The flexible OLED technology provides high definition quality with a wide range of applications. The scope of the study for the flexible OLED market has considered both OLED technologies and the respective end-user application across regions in the world.

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Key Market Trends

Mobiles and Televisions to Witness Significant Growth

• With increased smartphone adoption globally, the demand for high-definition ultra-high displays is growing quickly. With many companies, such as Apple and Samsung employing AMOLED displays in their flagship models, other companies are following the trend.
• But still, a flexible OLED provides several advantages, especially in mobile devices, such as lighter, thinner, and more durable displays than glass-based displays. These proved to be an important asset for mobile phone manufacturers, as they provided better performance, durability, and a reduction in weight.
• For instance, in May 2022, LG Display Co. Ltd announced bringing its next-generation OLED solutions to the 2022 Society for Information Display (SID) conducted in San Jose, California. The products included OLED.EX to Bendable and Foldable OLED panels. This innovation is expected to solidify the company’s OLED leadership in the market studied.
• Additionally, in January 2022, the company announced to be preparing to supply OLED panels for the apple iPad by 2024. The company is planning to ramp up production in 2024, and it is expected that the first OLED iPad will undergo manufacturing before that.
• Further, various companies have been releasing smartwatches with flexible displays to stay ahead of the competition. In July 2020, the Nubia watch was released with a flexible AMOLED screen and eSIM support, among other features. The display is a 4.01-inch (960x192 pixels) flexible, bendable OLED display with 244ppi pixel density.

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