DSCC analysts say that OLED stack materials will grow from $1.04 billion in 2018 to over $2 billion in 2022 - a CAGR of 17%.
DSCC says that up until now it greatly underestimated Novaled's revenues, and it now says that Novaled generated revenues of $97 million in 2017 and $122 million in 2018. Novaled is the third largest OLED material company by revenue - following Universal Display and Merck. The three companies combined will hold a market share of 56% in 2023.
LG Display continues to improve its OLED material stack costs, and it will continue to improve its production process and costs. DSCC estimates LGD's material cost to go down from $97.79 per square meter in 2019 to $55.22 per square meter in 2023.
Regarding ink-jet printing and soluble OLED materials, DSCC does not expect soluble OLED materials to be widely adopted until the later years of their forecast window (i.e. only at around 2022-2023).
DSCC says that the withdrawn of both LG Display and Pioneer from the OLED lighting market (although from our information LG Display did not withdraw completely, it still develops OLED lighting for automotive applications) dramatically reduces the prospects of OLED lighting.