SEOUL, Sept. 4 (Korea Bizwire) — LG Chem Ltd., South Korea’s largest chemical company, said Wednesday it will cooperate with Universal Display Corp. (UDC), a U.S.-based display materials maker, to develop an advanced organic light-emitting diode (OLED) component.
LG Chem said it signed a strategic partnership with UDC to co-develop an upgraded emissive layer, a key OLED component in which light is generated.
LG Chem will provide host materials, while UDC will supply dopant materials, agents that change a substance’s properties, for the research.
The two sides will try to find the best combination of the two materials to make a product with a wide color range, the company said.
According to industry tracker, IHS Markit, the global OLED material market is expected to grow from US$1.03 billion in 2019 to $1.29 billion in 2022.