Targets 30% market share by 2028

Company diversifies materials business, including expanded supply to SpaceX

Innox Advanced Materials employees celebrate the first mass-production shipment of optically clear adhesive for mobile OLED displays. [Innox Advanced Materials]
Innox Advanced Materials employees celebrate the first mass-production shipment of optically clear adhesive for mobile OLED displays. [Innox Advanced Materials]

Innox Advanced Materials announced Thursday that it has successfully localized optically clear adhesive for mobile OLED displays and begun initial mass production.

OCA is a key material that bonds the functional layers of an OLED display, including the display panel and cover window. It reduces light reflection and loss between layers to improve image quality, and must deliver high adhesion, flexibility and resilience simultaneously.

The high-end mobile OLED OCA market has long been dominated by a small number of global companies due to steep technical barriers to entry. Innox Advanced Materials said it achieved localization by leveraging its own adhesive, coating and film design technology.

The company plans to begin by supplying OCA for premium global smartphones before expanding its application to foldable devices and other product categories. Through this push, it aims to capture a 30% share of the mobile OLED OCA market by 2028.

Innox Advanced Materials projects the global mobile OLED OCA market will grow from about 260 billion won ($194 million) this year to 300 billion won by 2028. The company also plans to enter the OLED materials markets for tablets, laptops, extended reality devices, wearables and automotive electronics.

The company is also expanding its presence in the aerospace sector. Innox Advanced Materials supplies electromagnetic interference shielding carrier tape to SpaceX. The material is used in launch vehicles and low-Earth orbit satellite projects, where it protects against electromagnetic interference and temperature fluctuations.

"This OCA supply is significant in that we have localized a core material that was heavily dependent on overseas sources using our own technology, while also expanding the range of products we supply to our customers," a company official said. "We will strengthen our business portfolio across OLED, semiconductors, circuit boards and batteries, and advance as a leading advanced materials company."


hajun825@heraldcorp.com