UBI

According to UBI Research, the OLED tablet panel market is set to grow quickly, more than doubling between 2024 (12 million units expected) to 2028 (28.4 million). That's a CAGR of 24.1%.

UBI says that the market in 2023 was only 1.8 million panels - so growth in 2024 will be dramatic (almost 7X), mostly thanks to Apple's adoption of OLEDs in some of its iPad modules (expected to be announced next month). Samsung will produce 11" panels for Apple, while LGD will produce larger 12.9" panels. 

MicroLED Connect, our hybrid event series focusing on the microLED industry, will be hosting a two-day virtual event focused on the OLED innovations, technologies, manufacturing, markets and more. The online event will take place next week, on April 10-11, and will be an excellent opportunity to learn the latest OLED updates and connect with industry professionals on our excellent online event platform.

Today we have published the agenda for this event, with 20 exciting talks by leading OLED developers, supply chain companies and top-edge researchers. This will be an excellent opportunity to learn and connect with the OLED industry. You can register for the event here, with a yearly pass to MicroLED-Connect (with an option to also include entry into our September on-site event in Eindhoven, The Netherlands). Our members also gain access to past event recordings.

UBI Research updated its forecast for the OLED material industry, saying that total sales of OLED materials will grow from $1.84 billion in 2023 to $2.43 billion in 2028, a growth of 5.8% CAGR.

UBI says that in 2028, SDC will purchase OLED emitters in $810 million, LGD in $550 million and BOE in $440 million.

In July 2023, Samsung officially launched the 83" 83S90C, the company's first TV to use LG's WOLED panels, following several years of negotiations and hesitation by the Korean rivals.

It was assumed that Samsung's total orders from LGD will be limited (as the 83-inch are expensive and not highly popular), and according to UBI, the total number of panels that LGD actually shipped to Samsung is only 'several thousands'.

Universal Display is progressing with its blue PHOLED material, and earlier this month the company said it is on track to introduce the new material commercially in 2024. During a company seminar, UBI's Daejeong Yoon updated that according to their latest information, Samsung Display has decided to adopt a blue phosphorescence material in the second half of 2025 - a year later than expected.

Samsung is calling the new material stack B1, and it says that the new stack will increase the efficiency of its OLED device by more than 65% (which seems to be rather too much, maybe it means 65% of the power consumption of the current stack). UBI says that the blue OLED still suffers from low lifetime - the lifetime of the blue PHOLED stack is only 55% of the lifetime of its current fluorescence-blue stack, but regardless of that the company will introduce it commercially due to the power consumption efficiency.

UBI Research estimates that 7.9 million AMOLED displays for IT applications (tablets, notebooks and monitors) will ship in 2023, growing to 31 million by 2027 (a CAGR of 41%). Apple's adoption of OLED screens starting in 2024 will fuel much of the demand.

OLED makers, led by Samsung, LG, BOE and Visionox are all expected to start producing IT OLED panels in existing 6-Gen production lines, and companies are also planning to construct new dedicated 8.5-Gen lines for IT applications.

UBI Research forecasts that in 2025, shipments of smartphone OLED panels produced in China (regular and foldable) will surpass the shipments of panels made in Korea. UBI says that the growth of Chinese OLED makers will be driven by the large domestic market, government support, lower-cost production and improvement in production quality. 

UBI estimates that Korean OLED makers will retain their quality lead over Chinese companies, and will be able to generate higher revenues, even with lower shipments - but in 2028, the revenues of China-based OLED makers will also surpass Korea's OLED revenues. 

UBI Research estimates that the foldable OLED market will reach 22 million units in 2023, and will grow to 61 million units by 2027, a CAGR of 29%.

UBI also published a forecast on cover material market for foldable OLEDs - this market will also expand, and will grow to $840 million n 2027. UBI says that the market share of ultra-thin glass will grow, as Samsung will only produce foldable OLEDs with UTG in the future, and other makers including BOE, CSoT and Visionox are developing UTG panels. 

UBI Research says that shipments of medium and large area OLED panels (which the company defines as 10 inches and up) will reach 26.1 million units in 2022. The market is set for fast growth, and shipments will reach 69.5 million units by 2027.

The main application by revenue will be TV panels, over the whole projected period, and OLED TV panel shipments will reach 14.8 million units in 2027, and generate $9.18 billion in sales.

UBI Research says that according to its latest information and forecasts, shipments of Samsung's rigid smartphone AMOLED displays declined to 19 million units in Q3 2022, a drop of over 50% compared to last year. Rigid smartphone OLED display sales will continue to decline at an annual rate of 12.9% and will reach only only 96 million units in 2027.

Flexible OLED sales will continue to increase at a rate of 7.4% from 2022 to 2027. In 2027, Samsung Display will ship 220 million flexible OLED displays, while BOE will ship 140 million OLEDs.