2019 Panoramic Map of China's OLED industry chain
at present, the development of OLED industry has attracted the attention of the national level, received strong support from the state, and the industry is in a period of rapid development. OLED is the full name of organic light-emitting diode. It uses organic light-emitting materials and is the basic and core material of flexible display technology. Flexible OLED is the foundation of surface display and even future flexible display. At present, the development of OLED industry has attracted the attention of the state and received strong support from the state. The industry is in a period of rapid development
oled industry chain has many participants
the upstream of OLED industry chain includes material manufacturing, equipment manufacturing and parts group, the midstream includes panel manufacturing, module, driver chip, etc., and the downstream includes various terminal applications. In the upstream field, due to the high technical threshold, the supply right of OLED upstream industry is basically in the hands of overseas manufacturers, and there are few upstream enterprises that can achieve large-scale mass production in China
in the downstream field, OLED has many application fields, among which smart, TV, VR and other fields have the largest application range
the industry has entered a mature stage
in 1979, Chinese American professor Ching W. Tang found that an organic battery for experiment in the dark was glittering in the laboratory, thus starting the research on organic light-emitting diodes. In 1999, pioneer released the world's first OLED product; In, Samsung, Sony and other manufacturers vigorously promoted OLED technology and widely applied it in Samsung's high-end fields. In 2013, OLED TV was brought to the market on a large scale. By 2018, Lufthansa announced the launch of commercial aircraft with OLED display
up to now, wallpaper TV, screen self generating TV and other TV products that can only be realized by OLED have been listed, and other black technology products such as curl TV and 8K OLED TV are also emerging. OLED has changed from scratch, from initial stage to maturity, and the industry has entered a rapid development channel
oled has obvious performance advantages
oled display technology has many advantages, but compared with LCD, the most critical advantage of OLED is flexibility. OLED light-emitting layer and transmission layer are organic layers. As long as the substrate and cover plate are flexible materials, the OLED panel can be flexible. The flexibility and wide viewing angle of OLED will make it more adaptable to the needs of multiple application scenarios in the future. Another thing that may cause great development of OLED industry is intelligence. Using OLED can make intelligence thinner, lighter and foldable. At present, Samsung, Nokia, HTC, Huawei and oppo all use OLED display
the market scale has reached 29billion US dollars
with the continuous maturity of OLED display technology, the product price has been optimized, and the market scale of OLED industry has been rapidly expanded. In 2017, the full screen market broke out completely. Domestic and foreign brands launched their new full screen machines one after another. Apple iPhone x, a symbol of high-end representatives, also adopted the full screen design, which pushed the full screen to a new climax. Under this influence, OLED panel, as the best partner of comprehensive screen, has become the mainstream of high-end intelligence. According to statistics, in 2018, our operators operated in strict accordance with the operating procedures, and the market size of China's OLED industry was US $29billion. It is expected that the market scale of OLED industry will continue to grow rapidly in the future
smart is one of the largest application fields
oled is widely used in smart, TV, computer, tablet, wearable devices and VR fields. In the future, with the progress of technology, the penetration rate of OLED panels in various fields will increase. According to statistics, in 2018, the intelligent field was the largest field of OLED application, accounting for 71%; The second is wearable devices, accounting for 10%; Household appliances and television accounted for 6%
Korean manufacturers are in a leading position, and local manufacturers are catching up with each other.
in the global market, Samsung is the only one.
as the largest subsidiary of SamSung group, Samsung Electronics has a comprehensive business coverage, involving consumer electronics, memory, panel, wafer foundry and other businesses. Thanks to rich technical conditions, Samsung has a high monopoly on the OLED industry market. According to statistics, in 2018, Samsung Electronics' share in the global market reached 96.5%! The second is LG, with a market share of 3.3%
in terms of revenue, the revenue scale of Samsung Electronics is much larger than LG display. In, the revenue scale of Samsung Electronics was about 200trillion won. LG's revenue is only about one tenth of that of Samsung. By the third quarter of 2018, Samsung Electronics' revenue had reached 184.5 trillion won, and LG's operating revenue had reached 17.39 trillion won
in terms of gross profit margin, Samsung Electronics has always maintained a high gross profit margin and net profit margin. The gross profit margin basically maintained a fluctuating upward trend from 38.5% in 2015 to 46.2% in the third quarter of 2018. This figure is in a leading position in the entire electronic manufacturing industry, reflecting the strong profitability of Samsung Electronics. However, LG's gross profit margin is much lower than that of Samsung Electronics, and the change range is large. In the third quarter of 2018, its gross profit margin was 14.6%
among the major domestic participants, the prospect of BOE is promising
at present, the global OLED supplier pattern has basically taken shape, South Korea is in a relatively dominant position, and domestic enterprises represented by BOE are catching up. Although China has achieved a leap from 0 to 1 in the OLED field from basic materials to ground applications, it still needs to achieve breakthroughs in core technology and equipment in the future
China's OLED industry has initially formed a number of excellent enterprises. Among them, BOE is in a relatively leading position in the industry, followed by Hehui optoelectronics, Ruoyu technology, etc
as the pioneer of domestic LCD panels, BOE has always occupied half of the domestic market. In terms of revenue, in recent years, the revenue of BOE has gradually increased. By the third quarter of 2018, BOE had achieved an operating revenue of 69.5 billion yuan
domestic manufacturers intensively put in production capacity
with the continuous expansion of the industry market scale, in order to get rid of the constraints of Korean panel manufacturers, China's major OLED enterprises have also stepped up the layout of OLED production capacity. Nowadays, China has got rid of the situation of lacking cores and screens in the past, and has become one of the world's leading suppliers in the field of LCD. According to the data, in 2018, the OLED production lines that have been built and invested in China include BOE Chengdu G6 generation line and Mianyang G6 generation line, Tianma Wuhan G6 generation line, Hehui optoelectronics Shanghai G6 generation line, Xinli Huizhou G4.5 generation line, G6 generation line, etc
core technology of OLED terminal materials is missing, and localization will be the general trend in the future.
at present, China is the world's major manufacturer of OLED intermediates and crude monomers. From the perspective of industrial chain, most of the OLED intermediates and crude monomers supplied by China's OLED organic material manufacturing enterprises are sold to enterprises in Europe, the United States, Japan, South Korea and other places. These enterprises further sublimate the OLED monomer materials. Finally, the panel manufacturers evaporate the terminal materials onto the substrate to form the OLED material layer. However, at present, the production of OLED terminal monomer materials is mainly concentrated in South Korea, Japan, Germany and the United States. The core of sublimation materials is patents, and Japanese and Korean manufacturers have leading advantages in this regard. However, there is still a big gap between the accumulation of domestic material manufacturers and the above-mentioned countries. At present, domestic suppliers of OLED intermediates and crude monomers mainly include Wanrun Co., Ltd., Xi'an Ruilian, Puyang Huicheng, Beijing agraya, Jilin aolaide, etc. Limited by technical factors such as patent rights, few enterprises produce OLED monomer materials
among China's OLED organic material enterprises, Wanrun Co., Ltd., Puyang Huicheng, Xi'an Ruilian, etc. have achieved mass production and entered the global OLED material supply chain. The main industry barrier of OLED intermediates and crude monomers is the recognition of downstream manufacturers. These enterprises that have entered the OLED supply chain will benefit from the rapid growth of OLED demand. From the perspective of enterprise R & D investment and innovation ability, Puyang Huicheng ranks first in R & D strength and innovation ability, followed by Wanrun shares. Compared with the same industry, the R & D and innovation capacity of Ruilian new materials needs to be improved. In the long run, with the gradual breakthrough of domestic material manufacturers in technology, panel manufacturers still need to reduce costs, and the localization of terminal materials will be the general trend
the overall localization rate of equipment is low, and the core equipment is monopolized by foreign countries.
at present, in the OLED industry, equipment is the major cost. OLED process equipment includes coating equipment, lithography equipment, dry and wet etching equipment, stripping equipment and other graphic production equipment for backplane section process; Cleaning equipment, evaporation equipment and packaging equipment for front plate section process; There are also OLED testing equipment for module section process, such as bonding equipment, electrical testing equipment, optical testing equipment, etc. OLED manufacturing equipment accounts for about 35% of the panel cost
one of the biggest barriers in the OLED industry is the technical strength, and the technical strength of OLED equipment manufacturers has a direct and important impact on OLED manufacturers. At present, OLED equipment manufacturers are mainly concentrated in Japan, South Korea, the United States, Germany and the Netherlands. In particular, almost all the evaporation processes that have a great impact on the final cost are controlled abroad. For example, AMOLED needs to be equipped with a pulling machine production line with a large stroke for testing the tensile properties of flexible packaging materials. Its core equipment is the evaporation equipment, which can attach OLED luminous materials to the glass substrate by vacuum evaporation. Due to its high precision and customization demand, there are very few equipment manufacturers with stable supply capacity in China, and the annual output of relevant manufacturers is low. Only Taiwan, China's Beiqiang technology can be included in the mainstream equipment manufacturers. Compared with traditional lithography equipment, packaging and testing equipment in Chinese Mainland, Dafu technology, shentianma, Jinfu new material, Tiantong Co., Ltd. and other manufacturers occupy a certain market share