OLED Lighting Panel Market Outlook, Share and Growth Analysis to 2022
Global OLED Lighting Panel Market is expected to grow at a higher CAGR in future. Organic light emitting diodes (OLED) come with unique appearances and lighting performance than regular LEDs. OLEDs possess characteristics such as larger surface area, low luminance, thinner than LED. OLEDs panels reveal a great aesthetic potential as soft panels for lighting without glare. Since tiles can be used to constitute patterns, linear or arrayed, random patterns and circular arrangements. They can be incorporated into architectural elements and can be arranged into playful patterns or enhance wayfinding in a large store.
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Drinking fountains are those items that enable easy drinking for pets ensuring clean water for good health. Technically, an OLED lighting panel comprises a substrate with coated layers having covered with glass or metal that shields organic layers from environment and an external light extraction film, which may improve panel’s efficiency and enhance the aesthetic appearance. Organic layers are crammed between a transparent node which is basically indium tin oxide and a metal cathode basically a typical aluminum or silver. Material for metal cathode may be highly reflective or transparent and depends whether the panel emanates light through the substrate and transparent cover. Commercial OLEDs may not be available on a large scale but they hold unique opportunities in areas where a blend of window and light source is needed.
Revelation to oxygen and moisture happen to contaminate OLEDs and may create artifacts such as dark spots that may grow over the time and drastically shorten panel shelf life. The most common technique to protect OLED panel is to employ glass as both substrate and cover and seal the edges with an epoxy adhesive to avert moisture and oxygen permeation. A metal cover can also perform the same task. Another practice is to capture any moisture and oxygen stuck inside the panel while manufacturing or that may leak into the panel through the edge sealed over time. OLED lighting panel market is driven by factors such as rising competition amongst manufacturers for production of various OLED lighting panels. However, cost constraints is a major factor that may hinder the market growth.
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Geographically, the OLED lighting panel market spans North America, Latin America, Europe, Middle-East, Asia-Pacific and Africa. APAC market is expected to dominate the global market in terms of volume. Also, the rising awareness for sustainable energy sources is expected to boost the market growth. Further, fancy lighting in public events is another factor helping the market to growth globally. North America is anticipated to rise at a higher CAGR in the predicted period owing to consumer’s emphasis for sophisticated and long-lasting energy sources. The key players in the OLED lighting panel market include LG Display, Panasonic, Kaneka Corporation, Konica Minolta, MC Pioneer, Sumitomo, Osram and OLEDWorks.