(1) As the origin of OLED technology, PMOLED technology has become increasingly mature:
In terms of technology, PMOLED, which belongs to the OLED industry, has simple structure and easy process, so the development of OLED technology and mass production of products basically start from PMOLED.One of the earliest OLED commercialization is the 1997 Pioneer Electronics will be a resolution of 256 * 64 PMOLED display panels for car sound panels.After more than 20 years of industrialization development, all major PMOLED display panel manufacturers can maintain a high yield rate of continuous production, PMOLED production technology tends to be mature and stable.
The development of OLED technology in China also started from PMOLED technology. Tsinghua University and other universities and research institutions began to engage in OLED technology research in the 1990s.Among them, in 2001, Beijing Weixin Nuo Technology Co., Ltd. cooperated with Tsinghua University to build the first OLED pilot line of Chinese mainland, and in 2003, it produced small batch monochrome OLED products, applied to the instrument market, becoming the first Chinese mainland company to produce and sell OLED products.In October 2008, the first Chinese mainland PMOLED and the first Chinese mainland OLED production line achieved large mass production in Kunshan, marking the gradual maturity of PMOLED technology in China.Most of the PMOLED products are small size panels. PMOLED technology has gradually mature, the market development is relatively stable, and there is no demand for continuous upgrading of production lines in the AMOLED industry.As a rising star of OLED industry in China, the industrial chain upstream manufacturing equipment and organic materials is still lagging behind foreign companies, even by foreign companies monopoly, but after more than 10 years of development, OLED in China especially PMOLED panel manufacturing link has gradually mature, led by the domestic PMOLED panel manufacturers in product stability, brightness and other technical indicators are in the industry.
(2) Chinese PMOLED panel enterprises gradually occupy the global market:
The development of the global PMOLED panel industry has experienced the process of “origin in the United States- -Japan and South Korea development- -Taiwan, China and mainland efforts”.The early development of OLED industry was the development of PMOLED industry. OLED technology was first successfully developed by the United States, and then Japanese and South Korean manufacturers industrialized OLED technology.
In 1997, Pioneer Electronics realized PMOLED industrialization and successfully developed full color PMOLED display panel in 1999; in 2000, MOTOROLA phones used Pioneer Electronics 1.8-inch colorful PMOLED display panel and realized commercialization; in 2001, Samsung launched mobile phones with full color PMOLED display panel; in 2002, Fujitsu configured 1.0-inch full color PMOLED display panel on F505i secondary screen, PMOLED applications on the secondary screen.After that, Korean manufacturers such as Samsung and LG gradually turned to invest in the AMOLED industry on the basis of the PMOLED industry, and companies represented by the Taiwan, China region and Chinese mainland gradually occupied the market share of the PMOLED industry.During the reporting period, the company’s PMOLED product shipments continued to remain among the top in the world, ranking first in the world in 2019 and 2020.The change of the global OLED market pattern marks that China’s OLED industry has gradually occupied an important position in the world.
According to CICC statistics, global PMOLED display panel shipments were 110 million in 2019, and despite the impact of COVID-19 in 2020, shipments have increased slightly to about 120 million due to surging demand in the medical sector.PMOLED’s market share in the smart wearable has declined in the past two years, resulting in shipments falling from their highs in 2017 and 2018.Future with the development of 5G / AIoT and the concept of smart home popularity, smart home appliances display market and smart door lock display market will continue to develop rapidly, at the same time the outbreak makes people to health attention continues to rise, such as household medical market is expected to begin, the rapid development of the downstream fields is expected to drive PMOLED represented by small and medium-sized display products continuous demand.PMOLED display panel shipments are expected to increase to about 210 million units in 2025, with an average annual growth rate of 12.5% from 2020-2025.
Data statistics: CICC Qixin International Consulting（Unit: $10 million）
(3) Market demand of downstream industries will promote the further development of PMOLED:
If OLED is compared to LCD, PMOLED is like STN-LCD, and AMOLED is like TFT-LCD.PMOLED does not need TFT as a substrate, low production cost, low mold opening cost, mature production process, controlled gray scale, resolution and picture quality performance by current. The products are mainly monochrome and multi-color, mostly concentrated in the low resolution and small size market, suitable for customized product development.AMOLED has wide color gamut, high resolution, wide applicable size, and maximum TV panel demand, but the production process is complex, high production cost, high mold opening cost, so it is mostly used for mass production of standardized products.
In view of the above characteristics, PMOLED and its downstream fields are characterized by flexible application scenarios and low industry concentration, in sharp contrast to the market distribution of AMOLED downstream industries mainly focusing on mobile phone panels and TV panels.According to statistics, the top four PMOLED application scenarios in the world are smart home display, on-board industrial control, medical display and wearable display.The global PMOLED market in 2020 is $229 million, and is expected to be $377 million in 2025, with an average annual growth rate of 10.5% from 2020 to 2025.
Data statistics: CICC Qixin International Consulting（Unit: $10 million）
PMOLED development has reached a mature stage and has become a conventional display means and can be flexibly applied to various industries. At the same time, the demand for PMOLED in various industries is constantly changing with the development of The Times.The early stage of its development coincides with the widespread use of MP3, so the downstream market has a strong demand for PMOLED products.From 2014 to 2018, the outbreak of smart wearable products, mainly wristbands also promoted the development of the industry.The COVID-19 spread globally in 2020, and the main growth point of PMOLED was reflected in the health sector.In the future, with the development of 5G / AIoT, the expansion of home appliances and smart home, healthcare, industrial control instruments and other markets is expected to drive the development of the small screen market represented by PMOLED again.
Post time: Jun-02-2022