By Li Panpan

The global market of OLED components and materials for use in mobile devices is expected to grow to $13.9 billion in 2023 and 16.7 billion in 2027, with an average annual growth of 4.6%, and China's faster purchase increase signals stronger presence in mobile OLED supply chain, reported Business Korea on December 14, citing data from market research firm UBI Research.

In 2025, the flexible OLED segment including foldable OLED will account for 90% of the mobile OLED market, and the segment is expected to grow 7% a year from $12 billion to $15.6 billion from 2023 to 2027, said the Business Korea report.

China's mobile OLED material and component purchase would increase much faster than South Korea's. "China is predicted to increase its purchase 6.2% a year to reach $7.94 billion in 2027 while South Korea's is forecast to increase 3.2% a year to reach $8.79 billion in 2027,” it said.

China's faster increase in purchase implies that its presence will increase in mobile OLED industry supply chains, reported Business Korea.

China's display panel leader BOE said on its investor relationship management platform that its annual shipment target for flexible OLEDs in 2022 is 80 million pieces, and the penetration rate of BOE's flexible OLEDs in the smartphone field continues to increase and will continue to promote their application in new fields such as IT and vehicles in the future.