UBI Research estimates that OLED production capacity will increase from 34.9 million sqm to 68.5 million by 2023. LG Display and Samsung Display are expected to increase production of OLED TV and introduce new 10.5-Gen fabs better suited for 65" TV production.
Mobile OLED production capacity will also grow, but at a slower rate - from 13 million sqm in 2019 to 19.3 million sqm in 2023, mainly driven by Chinese OLED producers that produce flexible smartphone OLED displays mainly for the Chinese domestic market. Korean OLED producers (SDC and LGD) will continue to dominate the market and will retain their ~80% market share in 2023.
Interestingly UBI estimates that Chinese makers will not to start producing large-area OLED panels by 2023. This is an interesting projection - as some Chinese OLED makers do have active OLED TV development projects mainly based on inkjet printing processes (for example CSoT/TCL and BOE).
UBI estimates the OLED manufacturing equipment market at $28.4 billion in the four years from 2019 to 2022. 6-Gen equipment used for mobile OLED production will account for 61% of the market.