With changing times, people are demanding advanced technologies in just about everything, such as TVs and other consumer electronics and electrical appliances. This has increased the demand for OLED displays in smartphones, because of the rising preference of consumers for high-quality displays in these devices. This has become possible because of the rising income, which is ultimately driving the OLED materials market by leading to the increasing sale of smartphones with cameras, internet connectivity, and multimedia features.
Among the various materials that go into a completed OLED screen, substrates have been witnessing the highest consumption for quite some time. It is due to the fact that substrates are the semiconductors or electrical insulators that are utilized within diodes and transistors. Moreover, the substrate is the base material or the foundation upon which an OLED display is manufactured. Thus, since the surface area of the substrate is roughly equal to that of the completed display, it is utilized the most widely.
The display category held the larger share in the OLED materials market, based on application, in the preceding years. It is ascribed to the surge being witnessed in the demand for smartphones and TVs with OLED screens. Apart from these, OLED displays are becoming common in notebooks, automotive dashboards, tablets, and PC monitors. Moreover, the OLED lighting technology is not yet commercialized, and it is still under extensive R&D, which is another key factor making displays the dominant category in the market.
The key reason behind the rising demand for OLED consumer electronic displays and intensive R&D on OLED lights is that the LED technology consumes lower energy than LCD displays and incandescent, HID, and halogen lights. However, since the conventional LED requires the usage of synthetic chemicals, which harm the environment in some way or the other, organic materials are now being used, thus making the OLED technology increasingly popular.
Thus, the surging requirement for high-definition displays for smartphones and TVs will propel the demand for OLED materials in the coming years.