Global LCD glass substrates market will grow to 769 million square meters in the end of 2022

The global market for LCD glass substrates is projected to cross 578 million square meters by the year 2017, and the Global LCD glass substrates market will grow to 769 million square meters in the end of 2022, at a CAGR of 5.99% over the period 2017-2022. One of the major drivers in this market is the use of LCDs in many devices, such as smartphones, tablets, TVs, and PCs. As CRT becomes less and less popular, LCD has become the main technology used in many devices, especially portable ones. This is due largely to the reduction in device size and size of display panels, and because the demand for high-quality display has been increasing.

One of the trends in this market is the reduced thickness of LCD glass substrates. Vendors are focusing on manufacturing light and thin glass substrates to reduce the thickness of devices that use them. Another major trend is increased innovations in technology.

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The market is largely limited to a few Asian countries such as Korea, Taiwan and Japan, as these countries form the main manufacturing hub for high quality glass substrates, one of the core elements used in making LCD panels. However, with the entry of few domestic players in the LCD manufacturing scenario, China is rapidly emerging as a strong contender in the substrates market. Strong entry barriers such as high capital and complex technology requirements further hinder new players from entering the market.

The market concentration of LCD glass substrates is very high, top 3 players occupy near 90% of the global market. Corning enjoys the largest market share in 2016, followed by AGC, NEG. And Tonghsu Group is the largest producer in China, accounting for over 4.2% of global market.


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