Flexible Printed OLED Displays Market - Global Flexible Printed OLED Displays Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2030

Revolutionizing Display Technology with Flexibility and Innovation

The global flexible printed OLED displays market is poised for an extraordinary journey, projected to achieve a staggering compound annual growth rate (CAGR) of around 20% between 2023 and 2030. By the end of this transformative decade, the market is anticipated to surpass the remarkable milestone of US$100 billion in value. This exceptional growth is fueled by the surging demand for flexible OLED displays across an extensive spectrum of consumer electronics and industrial applications.

Flexibility Meets Innovation: The New Frontier in Display Technology

Flexible printed OLED displays represent a revolutionary leap in display technology, offering foldable screens that seamlessly adapt to various surfaces. Replacing conventional display technologies such as liquid crystal matrix (LCD) and organic light-emitting diode displays (OLED), flexible printed OLEDs introduce a thin and lightweight alternative. While LCD panels have long dominated the display technology landscape since the 1990s, their bulky nature has been a persistent drawback. The escalating demand for cell phones and other electronic devices, including tablets, laptops, televisions, automobiles, and industrial machinery, is projected to propel the growth of the flexible printed OLED displays market worldwide. Additionally, the soaring popularity of wearable medical devices like smartwatches and fitness bands contributes to the market's expansion. Furthermore, there is expected to be an upswing in demand for flexible printed OLED displays in professional and industrial equipment, including point-of-sale (POS) terminals. Nevertheless, certain factors, such as the high manufacturing costs associated with flexible OLED panels, relatively limited performance, and susceptibility to low-temperature conditions, are anticipated to hinder market growth.

Flexible Printed OLED Displays Market: Key Insights

Key Report Findings

• The flexible printed OLED displays market is set for substantial revenue growth from 2023 to 2030.
• The growing demand for cell phones and various electronic devices, such as tablets, laptops, televisions, automobiles, and industrial equipment, is the primary driver of the global market's expansion.
• The flexible printed OLED displays industry is witnessing heightened demand for active matrix OLED (AMOLED).
• In 2022, the smartphones and tablets category commanded the highest market revenue share within the flexible printed OLED displays sector.
• Asia Pacific is poised to maintain its market leadership, while North America's flexible printed OLED displays market is expected to witness the most robust growth until 2030.

Fueling the Future: Growth Catalysts

Rapid Innovation in Consumer Electronics

The ongoing trend of smart homes and buildings, coupled with the growing appetite for connected technology, plays a pivotal role in the adoption of innovative and creative solutions across the consumer electronics sector. The integration of smart sensors into household appliances has elevated the frequency of consumer electronics upgrades.

The utilization of flexible printed OLED displays for device communication and control is expanding significantly. For instance, Samsung's introduction of the eighth generation of the Family Hub smart fridge in May 2023, featuring a massive 32-inch full HD touchscreen, underscores this trend. In July 2020, Samsung announced the SpaceMax Family Hub-linked refrigerator, offering automated meal planning, remote monitoring of refrigerator contents, and an entertainment screen for users to watch TV shows while preparing meals.

Moreover, household appliances such as televisions are undergoing revolutionary transformations. The overwhelming majority of new televisions anticipated for global purchase are expected to be smart TVs. As high-speed internet access becomes more widespread, the demand for smart TVs with improved picture quality surges. With a growing number of people consuming content via over-the-top (OTT) services like Netflix and Amazon, efficient data storage becomes imperative.

Market Opportunities: A World of Potential

Promising Prospects with Fully Stretchable OLED Displays

The relentless evolution of smartphones and computers has propelled display technology to new heights, with flexible and foldable displays emerging as the latest frontier. The flexible printed OLED displays market is poised for growth, driven by the popularity of curved displays in TV screens, desktop monitors, and smartphones. Key smartphone giants like LG, Samsung, and Huawei are exploring flexible printed OLED displays as a disruptive technology for future portable and multifunctional devices. However, significant challenges, including elevated manufacturing costs, declining end-product prices, limited product differentiation, seasonal demand fluctuations, and economic uncertainties, may temper demand.

As cost reduction, the introduction of novel features, product differentiation, fresh aesthetics, and the industry's demand for 5G-compatible models gain prominence, additional opportunities are expected to open up for flexible printed OLED displays. Telecom companies are asserting that the benefits of 5G networks will soon be accessible to consumers everywhere, suggesting that electronics manufacturers may produce fully 5G-compatible smartphones and computer components.

Navigating the Challenges: Growth Hurdles

Instability and Presence of Potentially Toxic Materials

Vendors are increasing investments in product innovation due to the growing demand for enhanced picture quality and resolution. Larger vendors with greater market share can allocate more revenue toward innovation, as evidenced by LG Display's KRW 1,740 billion investment in 2020. The pricing of technology significantly impacts the market share of flexible printed OLED displays. Recent trends indicate a consistent decline in market selling prices for thin-film transistor liquid crystal displays (TFT-LCD) and OLED panels, affecting vendor revenues and making it challenging to expand product portfolios.

The flexible printed OLED displays industry is intensely competitive, and as more vendors boost manufacturing capacity to compete on pricing, other vendors face pressure on prices and margins. Manufacturers from Korea, China, Taiwan, and Japan are investing heavily in expanding domestic production capabilities, significantly affecting the survival timeframe of vendors worldwide and influencing market revenues.

Exploring Key Segments: Unveiling the Potential

AMOLED Segment Dominates

The active matrix OLED (AMOLED) category seized the largest market share in 2022. AMOLED flexible printed OLED display technology finds application in tablets, smartwatches, gaming consoles, digital cameras, portable music players, and musical instruments. Line pixel states are stored using a storage capacitor and a thin-film transistor (TFT). In contrast to passive matrix organic LED (PMOLED) counterparts, AMOLED panels offer superior speed and seamless integration into displays of varying sizes. They deliver enhanced visual quality, wider viewing angles, and faster motion response while consuming less energy.

The global sales of consumer electronics continue to benefit from rapid urbanization, rising incomes, and a growing appetite for leisure and entertainment. This phenomenon significantly contributes to the growth of the AMOLED display category. In certain regions like Sudan, Syria, and Zimbabwe, manufacturing operating costs are expected to rise due to inflation.

The AMOLED displays hold advantages over other display technologies, including superior picture quality and high-resolution displays, which underpin the growth of the flexible printed OLED displays market. The increasing adoption of OLED displays in smartphones adds to the substantial growth potential. Furthermore, the heightened investments by renowned electronics manufacturers such as LG, Philips, and Sony in flexible printed OLED displays will stimulate industry growth throughout the expansion phase.

Embracing Opportunities Worldwide: Market by Region

Asia Pacific Takes the Lead

The flexible printed OLED displays market is expected to maintain its dominance in the Asia Pacific region due to significant market consolidation and a diverse array of cutting-edge display technologies. Moreover, Asian countries are home to foundries that serve as suppliers to various electronics manufacturers worldwide, solidifying the region's strong position in the market. A substantial portion of display manufacturers is concentrated in the Asia Pacific region, with South Korea, Taiwan, Japan, and China collectively accounting for a considerable share of vendors serving diverse global electronics manufacturers.

Backed by favorable initiatives and support from the Chinese government, flexible printed OLED display manufacturers in China continue to invest in new fabrication facilities and additional suppliers. Given the region's expanding consumer electronics sector and market penetration, Asia Pacific is poised to remain the epicenter of the flexible printed OLED displays market.

North America Emerges as an Attractive Market

The market for flexible printed OLED displays in North America is expected to display a significant CAGR during the forecast period. Several factors contribute to the growth of the flexible printed OLED displays market in North America, including the rising demand for wearable electronics in sports and fitness applications, increased adoption of OLED technology across consumer industries, and technological breakthroughs.

Additionally, the burgeoning medical application sector, coupled with the superior performance of flexible printed OLED displays compared to LCDs, is expected to further boost the market in the region. Intensive research and development activities by major market players, technological advancements, rising disposable incomes among consumers, and an increased prevalence of smart flexible printed OLED displays in smartphones, wearables, and television segments collectively drive the demand for these displays.

Flexible Printed OLED Displays Market: Competitive Landscape

Leading companies at the forefront of innovation and growth in the flexible printed OLED displays market include OSRAM GmbH, LG Display Co., Ltd., AUO Corporation, Sony Group Corporation, BOE Technology Group Co., Ltd., Universal Display Corporation, Ritdisplay Corporation, Samsung Electronics Co. Ltd., Corning, Inc., and Visionox Technology, Inc.