The world market for OLED Lighting will grow to 1.6 billion US Dollars in next five years. This year the market is estimated to be 135 million Dollars. This is according to UBI Research.
The situation is similar to LED market in 2007. When we introduced Citizen LED to our customers in 2007, many held a COB in their hand for the first time. Many were skeptical about the technology. But try to imagine the market without LEDs now.
Those who were brave and took the chance with LED, are now controlling the market. Although LEDs were expensive back then, the design work that was made before the prices dropped was priceless for many of our customers.
Now we are presenting the first OLEDs for many of our customers. Many people are skeptical. They don’t believe that OLED will ever become mainstream. Some companies plan to skip OLED and other start designing luminaires with OLED.
Those that start now, are ahead when the market starts to grow.
New investments for OLED Lighting factory
LG Display announced in March that they are investing in a new OLED light panel manufacturing facility. The new facility will be the first 5th generation OLED light panel manufacturing plant in the world. It will be built in South Korea in the city of Gumi.
The initial capacity of the plant will be 15 000 glass substrates per month. This can be scaled up when the demand increases.
LG is expecting that the new plant will give it significant price competitiveness as well as more know-how and even better quality.
The new facility’s capacity will give LG flexibility in panel size. This means that LG Display will be able to manufacture panels of all sizes, including giant ones.
OLED panel is made up of layers of organic materials. It is self-illuminating and consumes less power and also emits lower heat than conventional lighting. OLED is environmentally friendly and is closest to natural light. Due to its ability to be thin and flexible, it is suitable for different applications and venues and could create new markets for lighting. You can read more about OLED Lighting panels from my blog post about OLED.
If you need any help in designing OLED lighting, contact me and we can start the design process together!