China’s Flat-Panel Display Capacity Grows; Others Lose Ground
China’s share of worldwide capacity in the flat-panel display business continues to grow, but other regions are losing ground
By Mark LaPedus
China’s share of worldwide capacity in the flat-panel display business continues to grow, but other regions are losing ground, according to Counterpoint Research.
Flat-panel displays are thin panels of glass or plastic. These displays are used in cars, PCs, smartphones, TVs and other products. There are different types of displays in the market, including liquid crystal displays (LCDs), organic light emitting diodes (OLEDs) and microLEDs.
Displays are manufactured in large facilities using various semiconductor-like processes. The vast majority of displays are manufactured in Asia.
China is still expected to dominate display capacity in the worldwide market, growing from a 68% share in 2023 to 75% in 2028, according to Counterpoint Research, a market research firm.
In total, Taiwan’s display capacity share is expected to fall from 19% in 2023 to 16% in 2028, according to the market research firm. Meanwhile, South Korea’s share is expected to decline from 9% in 2023 to 8% in 2028, according to the firm. And Japan’s share is expected to fall from 4% in 2023 to 1% in 2028, they added.
From a vendor perspective, China’s BOE is the world’s largest display maker. Other Chinese vendors, such as China Star, HKC and Tianma, are also large. Taiwan’s AUO is a major display supplier. South Korea’s Samsung and LG Display (LGD) are also significant players.
“BOE is expected to maintain a large advantage in total display capacity, but its CAGR from 2023 to 2028 is now expected to be just 1.6%,” according to the research firm.
“China Star surpassed LGD in 2022 to rank second. In 2023, HKC surpassed LGD as LGD reduced its LCD capacity,” according to the firm. “Tianma is expected to grow the fastest, rising at a 20% CAGR to capture a 3% share in 2028.”
From an application perspective, LCD-based TV/IT products will continue to dominate the market with a share of at least 73% through 2028, followed by the LCD-based mobile/IT segment with a share of at least 14%, according to the firm.
The OLED mobile/IT segment will rise to a 7% share by 2028, while OLED TV/IT will maintain a 4% share, according to the firm. “OLED mobile/IT is expected to enjoy the fastest growth from 2023 to 2028 at a 6.7% CAGR, followed by OLED TV/IT at 2.6% and LCD TV/IT at 2.4%,” they added.