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Display Technologies to determine consumption of display materials in the medium term

12 November 2021 Vivien Yang
  • Developments in display technologies are key drivers of change in the consumption of specialty materials for processing display panels, according to the Electronic chemicals: Display materials report, which will be published by IHS Markit's Specialty Chemicals Update Program (SCUP) in January 2022
  • Display panel producers are transitioning from LCD technology to organic light-emitting diode (OLED) technology. Investment in materials R&D has since 2019 been mainly focused on OLED display panels. As a result, the display materials market is also undergoing a transition. The layers of substrate and functional films will be reduced because OLED displays do not need a light source since they can emit light. This means there will be a volume decrease in the consumption of display materials.
  • However, the value of materials will not necessarily contract at the same pace. In addition, it is easier to manufacture OLED panels than LCD, meaning the consumption of process chemicals will also decline in volume terms.
  • The overall average annual growth rate for the OLED special material market, in terms of volume, is expected to be higher than 22% in 2020-25. However, the value growth rate will be smaller due to the expected unit price decline.
  • It is expected that more LCD material suppliers will gradually move to mainland China, expanding the country's production capacity, with new capacity expected to be added in 2021. As a result, mainland China will increase its dominance in LCD production over Japanese, South Korean, and European producers. Consumption of LCD specialty materials will grow at a rate of 2-4%/year in 2020-25.

LCD capacity by region - IHS Markit

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Posted 12 November 2021 by Vivien Yang, Executive Director, S&P Global Commodity Insights


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