The OLED evaporation material industry has broad development prospects, and the localization rate in the domestic market is expected to increase

Evaporation, also known as vacuum evaporation, refers to a process that uses a certain heating and evaporation method to evaporate and vaporize coating materials under vacuum conditions, and the vaporized particles fly to the surface of the substrate and condense to form a film. Thin film materials formed by evaporation method are called evaporation materials. OLED evaporation materials are one of the subdivided types of evaporation materials. They are the core materials to realize the light-emitting function of OLED panels and play a decisive role in the display quality, performance, stability, and yield rate of OLED panels.

In recent years, in order to support/encourage the development of my country’s OLED industry and promote the upgrading of new display materials such as OLED evaporation materials and core technologies of strategic electronic materials, the Chinese government has successively promulgated the “Statistical Classification of Digital Economy and its Core Industries” and “Key New Materials” Policies such as the “First Batch Application Demonstration Guidance Catalog” and the “Industrial Catalog to Encourage Foreign Investment (2022 Edition)” provide benefits for the development of the OLED evaporation material industry.

According to the “OLED Evaporation Materials Industry In-depth Market Research and Investment Strategy Suggestions Report 2023-2027” released by the Industrial Research Center, As OLED technology gradually matures, its penetration rate in TVs, smartphones, large visual display screens and other fields continues to increase. The shipments of OLED panels are increasing year by year, driving the rapid growth in demand for OLED evaporation materials. In 2022, my country’s OLED evaporation material market demand will exceed 130.0 tons, a year-on-year increase of 23.4%. Against this background, my country’s OLED evaporation materials industry has broad development prospects.

Currently, OLED evaporation materials are in a period of rapid market growth. The global OLED evaporation materials market size was US$1.03 billion in 2019 and US$2.24 billion in 2022, with a compound annual growth rate of 29.6% in four years. The market size is expected to exceed US$3.0 billion for the first time in 2025. The market size of my country’s OLED evaporation materials was 1.49 billion yuan in 2019 and 3.34 billion yuan in 2022. The compound annual growth rate in the four years was 30.9%. It is expected that the market size will exceed 4 billion yuan for the first time in 2025.

OLED organic evaporation materials have high technical barriers. The global market is mainly occupied by developed countries such as the United States, Germany, Japan, and South Korea. Dow Chemical of the United States, Global Display of the United States, Merck of Germany, Tokusan Metal of South Korea, Samsung SDI of South Korea, LG Chem, Japan Toray Co., Ltd., Japan Idemitsu Kosan Co., Ltd., Japan Hodogaya Chemical Industry Co., Ltd., etc. are the world’s major manufacturers of OLED organic evaporation materials.

Industry Analysts said that at present, my country’s OLED evaporation material market is monopolized by overseas companies, and the domestic OLED evaporation material industry started late. , compared with the production technology of enterprises in Europe, the United States, South Korea, Japan and other regions, there is a certain gap. In the future, with the development of the domestic OLED market, local OLED evaporation material companies, led by Changchun Heipruns Technology Co., Ltd., will continue to improve their production technology and gradually expand their business scale, and the market localization rate is expected to increase.