Demand for LCD to grow over next 5 years
Demand for LCD panels used in TVs, computers and other devices will continue to grow over the next five years with Chinese firms taking a bigger market share globally, industry officials said during an industry event.
The demand for liquid crystal displays rebounded in China after the coronavirus pandemic. The technology will still be the mainstream technology in the next five years with a high growth rate, according to Chen Yanshun, chairman of CODA or the China Optics and Optoelectronics Manufactures Association LCB.
Within several years, China’s LCD panel makers may take 60 percent of global market, industry officials told a forum at DIC EXPO 2020, which opened in Shanghai on Wednesday.
LCD panel prices surged by up to 10 percent in July, a record price hike in recent years, said researcher TrendForce.
Demand will continue to grow in the third quarter, with consumer market confidence rebounding and Chinese TV brands expanding sales in both domestic and overseas markets, Trendforce said.
Meanwhile, new display applications have emerged with technologies such as 5G and the Internet of Things. It offers firms new opportunities in smart applications in offices, education, health care and retail, said Chen, who is also chairman of Shenzhen-listed BOE, China’s biggest display technology firm.
For example, China’s spending on the Internet of Things will hit US$470 billion in 2026, 30 percent of the global level.
During the expo, BOE is showing panels up to 110-inch in size and new display applications in tablets, e-books, TV and outdoors such as bus station displays.
But Chen also warned to avoid duplicated investment and importing out-of-date production lines, which would create huge waste and a supply-over-demand situation to hurt the whole LCD industry.