DSCC posted an interesting post with its latest views and forecasts on the OLED material market. The company expects AMOLED stack material sales to grow at a 18% CAGR in the next five years, from $294 million in 2019 to $2.46 billion in 2024. Compared to its previous estimate, DSCC sees higher sales as demand for OLED TVs and OLEDs in the IT market (tablets and notebooks) is increasing.
DSCC also posted an analysis of LGD's new evo OLED material stack. Compared to LGD's "standard" WOLED stack, the evo adds an emitting green layer to improve the brightness by 20%. This of course adds an extra material cost to the panel price.
This is an interesting move by LGD, especially as DSCC sees the material costs of inkjet-printed OLED TV panels and Samsung's QD-OLED panels to be lower than LGD's standard WOLED costs. In fact Inkjet-printed OLED material costs are expected to be as much as 50% lower than WOLED costs, while QD-OLED material costs will be about 30-40% lower. These are unyielded costs, note, and LG's years of experience likely means its yields will be much higher at least in the first years of QD-OLED and inkjet-printing production.
DSCC says that the market for soluble OLED materials will start growing in 2024, when CSoT's 8.5-Gen inkjet printing fab will begin production. DSCC expects that revenues from soluble materials for inkjet-printed OLED will grow from less than $1 million in 2019 to $268 million in 2025.
DSCC also looks at OLED material supplier. Universal Display will remain the major OLED material supplier by revenue, following by Idemitsu Kosan, Novaled and Merck.