LONDON, March 28, 2024 /PRNewswire/ -- New data from Omdia has revealed 8% year-over-year growth in display polarizer demand is expected in 2024 which is set to drive a 2% increase in year-over-year revenue, propelled by intense price competition and substantial investments by Chinese manufacturers.

The new insights were unveiled at the recent Omdia Korea Display Conference Spring 2024, where Irene Heo, Principal Analyst in Omdia's Displays Practice, provided updates on the display optical film technologies and market for 2024. Irene commented: "Reviewing market conditions, Omdia forecasts that growth in polarizer demand is expected to surpass 2023 in 2024 despite the uncertainty surrounding this space." With polarizer investments gaining momentum, capacity is rapidly increasing. Heo highlighted that China's capacity holdings are projected to reach nearly 70% by 2027. She further noted, "Due to fierce price competition and the implementation of ultra-wide-width production lines, shutdowns and restructuring of old lines will accelerate."

The two-day conference served as a forum for senior industry professionals, where Omdia's displays analysts delivered comprehensive analyses on the latest trends and developments shaping the future of the display and consumer electronics industries.

Key discussions at the conference delved into emerging display technologies, shedding light on their potential impact and market implications. According to Jerry Kang, Research Manager at Omdia, there is a notable trend of OLED displays expanding in area size across various applications and form factors, driven by advancements in OLED technology. Kang emphasized that "increasing OLED display sizes is a significant development," underscoring its importance in driving industry growth. Additionally, Omdia identified power saving, higher light extraction and improved scalability as another key trend that is driving OLED displays in 2024.

The conference underscored the critical role of innovation and strategic investments in meeting the evolving needs of consumers and driving growth in the display sector. With the rise of emerging display technologies such as OLED, MicroLED, and flexible displays, manufacturers are poised to capitalize on new opportunities and shape the future of visual experiences.

For more information about Omdia's Korea Display Conference series and the research presented at the Spring 2024 conference, click here.

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Media Contact: Fasiha Khan, Fasiha.khan@omdia.com