The global OLED material market is expected to reach a considerable value by 2026, expanding at a substantial CAGR during the forecasted period from 2020 to 2026. OLED is an acronym for an organic light-emitting diode. It is organic in nature and consists of an electroluminescent layer that emits light in response to electric current. These employ polymers and are subpart based on small molecules. The various applications of in which OLED materials are used for display in camcorder viewfinders, virtual reality (VR) and augmented reality (AR) boxes, fitness gadgets such as Fitbit, smart glasses, head-mounted displays, gaming gadgets, and cinema projectors.
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Various industries such as medical, law enforcement, and automotive are witnessing heavy demand for OLEDs. The complex nature of manufacturing processes and high production costs are some of the factors hindering the growth of these devices. Companies are investing heavily in R&D to develop new materials. The Asia Pacific region is growing rapidly in terms of the usage of these OLED devices. Countries such as China, India, South Korea, Japan, Singapore, and Indonesia have been investing in R&D to develop new organic displays and leverage this technology in various applications. Increased investment in the defense sector by India and China, growing gaming industries, increasing usage in automobile vehicles, and usage in various medical devices such as MRI, CT-scan are some of the factors that have bolstered the demand for the OLED material market and is expected to continue the same in the forecasted period.
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The global OLED material market has been segmented based on
• Active Matrix OLED
• Passive Matrix OLED
• Law Enforcement
• Asia Pacific
• North America
• Middle East & Africa
• Latin America
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