Solus Advanced Materials Begins Construction of OLED Material Factory in Jiangsu Province, China

Solus Advanced Materials China OLED Material Factory Effect
[Photo by Solus Advanced Materials]

[Asia Economy Reporter Kim Heung-soon] Solus Advanced Materials (formerly Doosan Solus) is establishing a key production base for organic light-emitting diode (OLED) materials in China.

Solus Advanced Materials announced on the 30th that it has begun construction of an OLED materials factory in Changshu City, Jiangsu Province, China, with an investment of 20.5 million USD (approximately 23 billion KRW).

This is the first time Solus Advanced Materials is expanding its OLED materials business overseas. The company aims to start mass production in the second half of 2022 and establish an annual production capacity of 20 tons by 2025.

According to global market research firms Omdia and UBI Research, the number of mobile devices applying OLED is expected to increase from 550 million units in 2020 to 800 million units in 2025, and OLED TV panel production is projected to grow from 3.6 million units in 2020 to 10 million units. The company expects that the rising demand for OLED materials will continue to drive Solus Advanced Materials' sales growth.

Kim Tae-hyung, Head of the Electronic Materials Business Division, said, "Establishing a local production base in China aims to diversify our customer base, starting with targeting panel companies in the Greater China region. While contributing to the growth of existing customers, we will prove Solus Advanced Materials' differentiated competitiveness through full-scale entry into the global market."

This content was produced with the assistance of AI translation services.