Counterpoint: the global OLED material market to grow 7% in 2025, with China's share of the market growing

According to DSCC (Counterpoint), the global OLED evaporation materials market will grow around 7% in 2025. The market will continue to grow, and reach $28 billion by 2029, a CAGR of 7% from 2024 to 2029.

The OLED materials market is driven by the OLED panel industry, and it is expected that this market will grow driven by rising OLED adoption in IT devices (mostly laptops and tablets) and also driven by increased AMOLED production in China. The increase in adoption of tandem (multi-stack) based OLEDs also increase demand for OLED materials, as more material is required in such devices.

DSCC specifically notes the growth in material sales of China-based companies. China's material market share is growing, and by 2029, the country's market share will reach 46% of the global market, up from 33% in 2024. 

Interestingly, even though the accumulative market share of Chinese material makers is high (33% in 2024), there are no companies within the top 10 leading producers. This is mostly as most China-based material companies are focused on intermediate OLED material production (which are commodity materials). But there are some exceptions to this. In 2025, LTOM is expected to become the 9th leading OLED materials maker. LTOM provides OLED stack materials, including green host and red HTL to BOE, and it is expanding its material offering and is developing new materials.