Cinno Research Industry News: Material Science will complete and mass-produce a new plant for organic light-emitting diode (OLED) materials. By securing domestic and foreign display panel customers, we will continue to expand the amount of materials and achieve sales of KRW 200 billion (about 10.) by 2030700 million RMB).
According to the Korean media ETNews report, on January 24, Material Science built an OLED material factory in Jeongu-ri, Seosin-myeon, Hwaseongse, Gyeonggi Province, South Korea. Previously, the company operated an OLED material plant in Eunseong, Chungcheongbuk-do, on a leased basis, and only carried out some processes such as refining, but after completing the investment in synthesis equipment at the Hwaseong plant, the company will be able to mass-produce OLED materials on its own. The factory has a three-story building above ground, consisting of five buildings: a synthesis building, a refining building, and a dangerous goods warehouse. The synthesis capacity is 20 tons per month for OLED luminescent materials.
Here, the company manufactures OLED Blue Light-Emitting Layer (EML) as well as other common layer materials – the hole transport layer (HTL) and the electron transport layer (ETL). OLED is a panel composed of a light-emitting layer, a common layer of electrons, and hole movement. Material Science will mass-produce blue light-emitting layer and common layer materials to domestic and foreign panel manufacturers.
Material Science, Inc. is an OLED materials company founded in 2014. In the OLED materials market, which is dominated by large corporations and global companies, venture companies are attracting attention by taking decisive challenges. In particular, in the field of developing demanding blue luminescent materials, we have secured a unique technology that has received attention and investment from the industry. However, after the development of blue-doped materials, Material Science encountered ups and downs due to overseas investment and divestment. Now, the company has been restructured again and will strengthen its investment and make a comeback. The Hwaseong plant is the core foundation of the new departure. The company is determined to ensure the mass production system, realize the best and re-seize the opportunity.
The demand for OLED materials is rapidly increasing as the application of OLED expands from traditional smartphones and TVs to IT products such as laptops and tablets to automotive products. According to data from market research company UB Research, the OLED light-emitting materials market has increased from 18$400 million, reaching $24 by 2028300 million US dollars, with an average annual growth rate of 58%。
Material Science will also introduce a smart factory system at its Hwaseong plant to improve operational efficiency by integrating production and logistics processes. The unique system is applied to the sublimation refining equipment of the main process of OLED materials to improve quality control and production efficiency. Based on this, the company aims to gradually expand the production capacity of the Hwaseong plant by next year and achieve sales of KRW 200 billion by 2030.
An official of the company said, "In order to improve the completion of high-efficiency blue light emitting technology, the company will invest more than 10% of its sales in R&D every year," and said, "The company will focus on securing excellent manpower and investment in expanding equipment to grow into Korea's No. 1 company in the field of OLED materials."1 enterprise".