OLED Encapsulation Materials Market to Reach $232.5 Million in 2021, Says IHS

The global market for OLED encapsulation materials is expected to expand at a 16 percent compound annual growth rate the next four years, reaching $232.5 million in 2021, said an IHS Markit report. Chinese and South Korean panel makers “have aggressively invested in new OLED fabs, resulting in the increase in OLED shipments in terms of area,” and hence the growing demand for encapsulation materials, said IHS. Metal-based encapsulation materials are expected to lead the market in revenue because they're mainly used for OLED TVs, where the growth in OLED panels is fastest, it said. “However, with Chinese smartphone brands releasing a wide range of new products with OLED panels, demand for frit glass encapsulation materials, which are currently applied to smartphones with rigid-OLED displays, will remain steady, though losing its market share.”