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OLED Materials Market by Type (Substrates, Encapsulation, Anode, Hole Injection Layer (HIL), Hole Transport Layer (HTL), Electron Transport Layer (ETL), Emissive Layer (EML), and Cathode), Application (Display (Television & Monitors, Smartphones, Notebooks & Tablets, Automotive, and Others) and Lighting), End User (Residential, Commercial, and Industrial) - Global Opportunity Analysis and Industry Forecast, 2017-2023
Published Date: November 2019
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Report Code: ALLI-Auto-4A196
Home | Market Reports | Business & Industrial | Industrial Materials & Equipment
OLED Materials Market by Type Substrates Encapsulation Anode Hole Injection Layer HIL Hole Transport Layer HTL Electron Transport Layer ETL Emissive Layer EML and Cathode Application Display Television Monitors Smartphones Notebooks Tablets Automotive and Others and Lighting End User Residential Commercial and Industrial Global Opportunity Analysis and Industry Forecast 2017 2023

OLED Materials Market by Type (Substrates, Encapsulation, Anode, Hole Injection Layer (HIL), Hole Transport Layer (HTL), Electron Transport Layer (ETL), Emissive Layer (EML), and Cathode), Application (Display (Television & Monitors, Smartphones, Notebooks & Tablets, Automotive, and Others) and Lighting), End User (Residential, Commercial, and Industrial) - Global Opportunity Analysis and Industry Forecast, 2017-2023

Code: ALLI-Auto-4A196
Report
November 2019
Pages:180
Allied Market Research
Description
Table of Content
Tables & Figures

The global OLED materials market was valued at $5,932 million in 2016, and is expected to reach $25,731 million by 2023, registering a CAGR of 26.3% from 2016 to 2023.


Organic light-emitting diode (OLED) is a flat light-emitting technology that is produced by employing thin organic films in between two conductors. OLEDs have gained wide range of acceptance among end users as they are lightweight, brighter, thinner, and provide more power efficiency as compared to LCDs.

 

Increase in demand for smartphones globally and rise in disposable income of people drive the growth of the global OLED materials market. In addition, growth in demand for OLED materials in the automotive sector is projected to present new opportunities for OLED materials manufacturers in the near future. The rapid change in technology and consumer preferences is anticipated to hamper the adoption of OLED materials in the electronics sector.

 

The report segments the global OLED materials market based on type, application, end user, and geography. The type segment includes substrates, encapsulation, anode, hole injection layer (HIL), hole transport layer (HTL), electron transport layer (ETL), emissive layer (EML), and cathode. These OLED materials are applicable in television & monitors, smartphones, notebooks & tablets, automotive, and others. Based on end users, the market is classified into residential, commercial, and industrial users. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate the global OLED materials market till 2023.

 

Product launch is the key developmental strategy focused on by prominent players in the global OLED materials market to gain significant share.

 

The key players profiled in the report are as follows:

 

  •     Sigma-Aldrich Co. LLC.
  •     DuPont
  •     Novaled GmbH
  •     Merck KGaA
  •     LG Chem
  •     TCI America
  •     Sumitomo Chemical
  •     Universal Display
  •     The Dow Chemical Company
  •     Idemitsu Kosan Co., Ltd.

 

KEY BENEFITS FOR STAKEHOLDERS

  •     This report provides an extensive analysis of the current trends and emerging estimations in the global OLED materials market.
  •     In-depth analysis of the industry is conducted through market estimations of key segments from 2017 to 2023.
  •     Comprehensive analysis of factors that drive and restrain the market growth is provided.
  •     Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
  •     The key players are profiled along with their strategies to determine the competitive outlook of the market.

 

MARKET SEGMENTATION

By Type 

  •     Substrates
  •     Encapsulation
  •     Anode
  •     HIL
  •     HTL
  •     ETL
  •     EML
  •     Cathode

 

By Application 

  •     Display
  •     Television & Monitors
  •     Smartphones
  •     Notebooks & Tablets
  •     Automotive
  •     Others
  •     Lighting

 

By End User

  •     Residential
  •     Commercial
  •     Industrial

 

By Geography

  •     North America
  •         U.S.
  •         Canada
  •         Mexico
  •         Europe
  •     UK
  •         Germany
  •         France
  •         Spain
  •         Italy
  •         Rest of Europe
  •     Asia-Pacific
  •         China
  •         Japan
  •         India
  •         Korea
  •         Australia
  •         Rest of Asia-Pacific
  •     LAMEA
  •         Brazil
  •         South Africa
  •         KSA
  •         Rest of LAMEA

 

*Other players in the value chain include the following;\

  •     Cambridge Display Technology
  •     Beijing Aglaia Technology Development Co., Ltd.
  •     BASF SE
  •     Borun Chemical Co., Ltd.
  •     Hodogaya Chemical Group
  •     Heraeus Holding
  •     Covestro AG

 

*Profiles of these players are not included in the report, but can be included on request.

CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES
CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Augment in demand for OLED in smartphones
3.4.1.2. Increasing disposable income of consumers
3.4.1.3. Rise in applications of OLED in automotive industry
3.4.2. Restraints
3.4.2.1. Fragmented market
3.4.3. Opportunities
3.4.3.1. New product launches and innovation in electronics industry
CHAPTER 4. OLED MATERIALS MARKET, BY TYPE
4.1. INTRODUCTION
4.1.1. Market Size and Forecast
4.2. SUBSTRATES
4.2.1. Key Market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.3. ENCAPSULATION
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast
4.4. CATHODE
4.4.1. Key market trends, growth factors, and opportunities
4.4.2. Market size and forecast
4.5. ANODE
4.5.1. Key market trends, growth factors and opportunities
4.5.2. Market size and forecast
4.6. HIL (HOLE INJECTION MATERIAL)
4.6.1. Key market trends, growth factors and opportunities
4.6.2. Market size and forecast
4.7. ETL (ELECTRON TRANSPORT MATERIAL)
4.7.1. Key market trends, growth factors and opportunities
4.7.2. Market size and forecast
4.8. EML (EMISSIVE MATERIAL)
4.8.1. Key market trends, growth factors and opportunities
4.8.2. Market size and forecast
4.9. OTHERS (HTL AND EBL)
4.9.1. Key market trends, growth factors and opportunities
4.9.2. Market size and forecast
CHAPTER 5. OLED MATERIALS MARKET, BY APPLICATION
5.1. INTRODUCTION
5.1.1. Market size and forecast
5.2. DISPLAY
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.2.3. Television & Monitors
5.2.4. Smartphones
5.2.5. Notebooks & tablets
5.2.6. Automotive
5.2.7. Others
5.3. LIGHTING
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
CHAPTER 6. OLED MATERIALS MARKET, BY END USER
6.1. INTRODUCTION
6.1.1. Market size and forecast
6.2. RESIDENTIAL
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.3. COMMERCIAL
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast
6.4. INDUSTRIAL
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast
CHAPTER 7. OLED MATERIALS MARKET, BY GEOGRAPHY
7.1. INTRODUCTION
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast
7.2.3. U.S.
7.2.3.1. Market size and forecast, by end user
7.2.4. Canada
7.2.4.1. Market size and forecast, by end user
7.2.5. Mexico
7.2.5.1. Market size and forecast, by end user
7.3. EUROPE
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast
7.3.3. France
7.3.3.1. Market size and forecast, by end user
7.3.4. Germany
7.3.4.1. Market size and forecast, by end user
7.3.5. UK
7.3.5.1. Market size and forecast, by end user
7.3.6. Spain
7.3.6.1. Market size and forecast, by end user
7.3.7. Italy
7.3.7.1. Market size and forecast, by end user
7.3.8. Rest of Europe
7.3.8.1. Market size and forecast, by end user s
7.4. ASIA-PACIFIC
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast
7.4.3. India
7.4.3.1. Market size and forecast, by end user
7.4.4. China
7.4.4.1. Market size and forecast, by end user
7.4.5. Japan
7.4.5.1. Market size and forecast, by end user
7.4.6. Korea
7.4.6.1. Market size and forecast, by end user
7.4.7. Australia
7.4.7.1. Market size and forecast, by end user
7.4.8. Rest of Asia-Pacific
7.4.8.1. Market size and forecast, by end user
7.5. LAMEA
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast
7.5.3. Brazil
7.5.3.1. Market size and forecast, by end user
7.5.4. KSA
7.5.4.1. Market size and forecast, by end user
7.5.5. South Africa
7.5.5.1. Market size and forecast, by end user
7.5.6. Rest of LAMEA
7.5.6.1. Market size and forecast, by end user
CHAPTER 8. COMPANY PROFILES
8.1. SIGMA-ALDRICH CO. LLC.
8.1.1. Company overview
8.1.2. Company snapshot
8.1.3. Operating business segments
8.1.4. Business performance
8.1.5. Key strategic moves and developments
8.2. DUPONT
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Business Performance
8.2.5. Key Strategic Moves and Developments
8.3. NOVALED GMBH
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Business Performance
8.3.5. Key Strategic Moves and Developments
8.4. MERCK KGAA
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Business Performance
8.4.5. Key Strategic Moves and Developments
8.5. LG CHEM
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Business Performance
8.5.5. Key Strategic Moves and Developments
8.6. TCI AMERICA
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.6.5. Key strategic moves and developments
8.7. SUMITOMO CHEMICAL
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. Operating business segments
8.7.4. Business performance
8.7.5. Key strategic moves and developments
8.8. UNIVERSAL DISPLAY
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.8.5. Key strategic moves and developments
8.9. THE DOW CHEMICAL COMPANY
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Business performance
8.9.5. Key strategic Moves and developments
8.10. IDEMITSU KOSAN
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Operating business segments
8.10.4. Business performance
8.10.5. Key strategic moves and development
TABLE 1. GLOBAL OLED MATERIALS MARKET VALUE BY TYPE, 2015-2023 ($MILLION)
TABLE 2. GLOBAL OLED SUBSTRATES MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 3. GLOBAL OLED ENCAPSULATION MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 4. GLOBAL OLED CATHODE MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 5. GLOBAL OLED ANODE MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 6. GLOBAL OLED HIL MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 7. GLOBAL OLED ETL MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 8. GLOBAL OLED EML MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 9. GLOBAL OLED OTHERS MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 10. GLOBAL OLED MATERIALS MARKET VALUE BY APPLICATION, 2015-2023 ($MILLION)
TABLE 11. GLOBAL OLED MATERIALS MARKET VALUE FOR DISPLAY BY TYPE, 2015-2023 ($MILLION)
TABLE 12. GLOBAL OLED MATERIALS MARKET VALUE FOR DISPLAY BY REGION, 2015-2023 ($MILLION)
TABLE 13. GLOBAL OLED MATERIALS MARKET VALUE FOR LIGHTING BY REGION, 2015-2023 ($MILLION)
TABLE 14. GLOBAL OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 15. GLOBAL OLED MATERIALS MARKET VALUE FOR RESIDENTIAL BY REGION, 2015-2023 ($MILLION)
TABLE 16. GLOBAL OLED MATERIALS MARKET VALUE FOR COMMERCIAL BY REGION, 2015-2023 ($MILLION)
TABLE 17. GLOBAL OLED MATERIALS MARKET VALUE FOR INDUSTRIAL BY REGION, 2015-2023 ($MILLION)
TABLE 18. GLOBAL OLED MATERIALS MARKET VALUE BY REGION, 2015-2023 ($MILLION)
TABLE 19. NORTH AMERICA OLED MATERIALS MARKET VALUE BY TYPE, 2015-2023 ($MILLION)
TABLE 20. NORTH AMERICA OLED MATERIALS MARKET VALUE BY APPLICATION, 2015-2023 ($MILLION)
TABLE 21. NORTH AMERICA OLED MATERIALS MARKET VALUE FOR DISPLAY BY TYPE, 2015-2023 ($MILLION)
TABLE 22. NORTH AMERICA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 23. NORTH AMERICA OLED MATERIALS MARKET VALUE, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 24. U.S. OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 25. CANADA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 26. MEXICO OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 27. EUROPE OLED MATERIALS MARKET VALUE BY TYPE, 2015-2023 ($MILLION)
TABLE 28. EUROPE OLED MATERIALS MARKET VALUE BY APPLICATION, 2015-2023 ($MILLION)
TABLE 29. EUROPE OLED MATERIALS MARKET VALUE FOR DISPLAY BY TYPE, 2015-2023 ($MILLION)
TABLE 30. EUROPE OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 31. EUROPE OLED MATERIALS MARKET VALUE, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 32. FRANCE OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 33. GERMANY OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 34. U.K. OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 35. SPAIN OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 36. ITALY OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 37. REST OF EUROPE OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 38. ASIA-PACIFIC OLED MATERIALS MARKET VALUE BY TYPE, 2015-2023 ($MILLION)
TABLE 39. ASIA-PACIFIC OLED MATERIALS MARKET VALUE BY APPLICATION, 2015-2023 ($MILLION)
TABLE 40. ASIA-PACIFIC OLED MATERIALS MARKET VALUE FOR DISPLAY BY TYPE, 2015-2023 ($MILLION)
TABLE 41. ASIA-PACIFIC OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 42. ASIA PACIFIC OLED MATERIALS MARKET VALUE, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 43. INDIA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 44. CHINA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 45. JAPAN OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 46. KOREA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 47. AUSTRALIA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 48. REST OF ASIA-PACIFIC OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 49. LAMEA OLED MATERIALS MARKET VALUE BY TYPE, 2015-2023 ($MILLION)
TABLE 50. LAMEA OLED MATERIALS MARKET VALUE BY APPLICATION, 2015-2023 ($MILLION)
TABLE 51. LAMEA OLED MATERIALS MARKET VALUE FOR DISPLAY BY TYPE, 2015-2023 ($MILLION)
TABLE 52. LAMEA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 53. LAMEA OLED MATERIALS MARKET VALUE, BY COUNTRY, 2015-2023 ($MILLION)
TABLE 54. BRAZIL OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 55. KSA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 56. SOUTH AFRICA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 57. REST OF LAMEA OLED MATERIALS MARKET VALUE BY END-USERS, 2015-2023 ($MILLION)
TABLE 58. SIGMA-ALDRICH CO. LLC: COMPANY SNAPSHOT
TABLE 59. SIGMA-ALDRICH CO. LLC: OPERATING SEGMENTS
TABLE 60. DUPONT: COMPANY SNAPSHOT
TABLE 61. DUPONT: OPERATING SEGMENTS
TABLE 62. NOVALED GMBH: COMPANY SNAPSHOT
TABLE 63. NOVALED GMBH: OPERATING SEGMENTS
TABLE 64. MERCK KGAA: COMPANY SNAPSHOT
TABLE 65. MERCK KGAA: OPERATING SEGMENTS
TABLE 66. LG CHEM: COMPANY SNAPSHOT
TABLE 67. LG CHEM: OPERATING SEGMENTS
TABLE 68. TCI AMERICA: COMPANY SNAPSHOT
TABLE 69. TCI AMERICA: OPERATING SEGMENTS
TABLE 70. SUMITOMO CHEMICAL: COMPANY SNAPSHOT
TABLE 71. SUMITOMO CHEMICAL: OPERATING SEGMENTS
TABLE 72. UNIVERSAL DISPLAY: COMPANY SNAPSHOT
TABLE 73. UNIVERSAL DISPLAY: OPERATING SEGMENTS
TABLE 74. THE DOW CHEMICAL COMPANY: COMPANY SNAPSHOT
TABLE 75. THE DOW CHEMICAL COMPANY: OPERATING SEGMENTS
TABLE 76. IDEMITSU KOSAN: COMPANY SNAPSHOT
TABLE 77. IDEMITSU KOSAN: OPERATING SEGMENTS FIGURE 1. GLOBAL OLED MATERIALS MARKET, 2016-2023
FIGURE 2. GLOBAL OLED MATERIALS MARKET BY REGION, 2016-2023
FIGURE 3. GLOBAL OLED MATERIALS MARKET: SEGMENTATION
FIGURE 4. TOP INVESTMENT POCKETS IN OLED MATERIALS MARKET, 2016-2023
FIGURE 5. TOP WINNING STRATEGIES
FIGURE 6. BARGAINING POWER OF SUPPLIERS
FIGURE 7. BARGAINING POWER OF BUYERS
FIGURE 8. THREAT OF NEW ENTRANTS
FIGURE 9. THREAT OF SUBSTITUTES
FIGURE 10. COMPETITIVE RIVALRY
FIGURE 11. DRIVERS AND RESTRAINTS: GLOBAL OLED MATERIALS MARKET
FIGURE 12. GLOBAL OLED MATERIALS MARKET SHARE, BY TYPE
FIGURE 13. GLOBAL OLED MATERIALS MARKET SHARE, BY APPLICATION
FIGURE 14. GLOBAL OLED MATERIALS MARKET SHARE, BY END-USERS
FIGURE 15. U.S. OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 16. CANADA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 17. MEXICO OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 18. GERMANY OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 19. FRANCE OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 20. UK OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 21. SPAIN OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 22. ITALY OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 23. REST OF EUROPE OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 24. INDIA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 25. CHINA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 26. JAPAN OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 27. KOREA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 28. AUSTRALIA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 29. REST OF ASIA-PACIFIC OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 30. BRAZIL OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 31. KSA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 32. SOUTH AFRICA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION)
FIGURE 33. REST OF LAMEA OLED MATERIALS MARKET VALUE, 2015-2023 ($MILLION
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