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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.
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