OLED and QLED Materials are the Backbone of Next-Generation Display Materials Market
Display technologies have been around since the early 1900s with the inception of cathode ray tubes (CRT) which was eventually commercialized in 1922. The display industry has evolved over the years with several technological disruptions. However, the fragile nature and bulky size of the CRT led to the next breakthrough in the display industry with the introduction of light emitting diode (LED) technology following which liquified crystal display (LCD) and plasma screens were developed.
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Similarly, the technologies used in the smartphone were invented back in 1965. The consumer electronics industry with the advancement in technology has changed significantly over the past decade. The technological advancements have not just been witnessed for smartphones but have also been used for TVs, monitors, laptops, and other display devices.
The displays which were used in computers and TVs offered users to interact with the images. These requirements led to the use of TFT LCD displays which were implemented in commercial PCs and laptops. TFT-LCD market grew in television and smartphones segment and acquired the most significant market share in the global market. The recent breakthrough in the display technology is the OLED technology, and this technological disruption is expected to prevail in the display market as the demand for various sizes, technology, and forms of display for vivid applications keeps on evolving which in turn is expected to drive the display material market in the coming years.
TFT LCD, OLED, and QLED materials are the backbone of next-generation display materials market. Companies have invested in establishing their OLED and QLED production plants globally. OLED materials have evolved due to their advanced features such as lightweight, thin enough to shape freely, 1,000 times faster response time than LCD, wide viewing angle in comparison to LCD, power efficiency and its eco-friendly nature. This advancement led to bigger screens, higher resolutions, and power efficient displays at a lower cost. Some of the companies that are using OLED based display panels in their display devices are Samsung Display Corporation, LG Display Corporation, and Apple Inc.
Along with the technological advancements, exchange and usage permission of their patented OLED and QLED materials have also led to the significant increase in the demand of display technology. For instance, Universal Display Corporation has licensed their PHOLED series of material and now have collaborated with companies such as Samsung Display, Sharp Corporation, Royole Corporation, BOE Technology Group, and PPG Industries, among others, for mutual exchange of product license and its usage authorities.