Complete information about \"Display Industry Analysis 2018\"
Pune, Maharashtra, India, February 12, 2018 —The display panels are expected to be oversupplied in 2019
and beyond, while being undersupplied till 2018 as various players are establishing new Gen 6 and above
facilities. Samsung’s decision of closing LCD plants and investing in OLED facilities created undersupply in
the LCD market; hence, several Chinese panel manufacturers ramped up their production to fill the supply
gap. BOE, with its Gen 10.5 facility, is expected to become a leading supplier of TFT-LCDs, in terms of panel
area, 2019 onwards. Larger sheets will eventually increase the production capabilities of panel suppliers.
Revenues of large panel suppliers increased 12% Y-o-Y in 2017 and the display panel area shipments for
large applications (>9 inches) increased by 10 million square meters. There was a significant growth in unit
shipments in 2017 as compared to 2016. According to Mr. Sachin Garg – Associate Director at
MarketsandMarkets, Revenue growth is expected to continue till 2019 due to the increasing penetration of
high-priced panels offering better resolution, wide viewing angle, and attractive design. The growth in area
production will continue in the coming years due to ever-increasing average panel size for various
applications; however, saturated unit shipments will affect the ASPs of panels, 2019 onwards.
Micro-LED Panels by 2025
Six Year CAGR (%)
Direct-View LED Displays
OLED Panels by 2023
Displays by 2023
Display Materials &
Components by 2023
Market Size (USD Billion)
Source: MarketsandMarkets Report Repository
“The market for smartphone panels is reaching saturation—crossing 2 billion shipments in 2017; flexible
panels are expected to gain more than 50% market share 2019 onwards compared with rigid ones while LCD
panels are expected to decline to 30% market share by 2022”, said Mr. Sachin Garg. The market for desktops
and televisions is somewhat saturated, in terms of unit shipments; however, the demand for 4K television
panels is increasing rapidly. Furthermore, the demand for small panels is increasing for wearables—NTE
devices, smartwatches, and smart bands; however, it will contribute to a smaller portion of panel makers’
revenues. Panel makers can expect high demand for signage applications where direct-view LED displays
are expected to lead in the long term. The in-depth analysis of market trends and developments are provided
in Large Format Display (LFD) market, a report released by MarketsandMarkets Research Private Ltd.
Direct-View LED (Fine-Pixel)
Direct-View LED (Large-Pixel)
Source: MarketsandMarkets Analysis on Large Format Display (LFD) Market
The report offers industry insights for LFD display types—video walls & standalone; technology— LCD,
OLED, direct-view LED (fine-pixel & large pixel), and others; display size; brightness level; application—
indoor & outdoor; and verticals. Automotive is another opportunity for panel makers; the demand from the
non-premium automotive segment will increase for LCD panels, while the demand for flexible panels will
increase from the premium segment.
OLED is the new trend in displays, thanks to the increasing demand from smartphone and smart wearable
vendors; however, the ASP of OLED panels is declining rapidly despite the fact that only South Korean
players are mass-producing OLED panels. Sustaining significant profit margin will be a huge challenge for
panel makers when various players such as BOE, Tianma, Truly, CSOT, and JOLED enter the market.
Increased competition between the players is expected to further decrease the ASP and shrink profit
margins. Worldwide demand for OLED panels is projected to reach $48.8 billion by 2023, growing at a
CAGR of 15.2% between 2017 and 2023, according to Rajeev Rajput – Senior Research Analyst at
OLED DISPLAY PANEL DEMAND
Market Share (%)
Rest of the World
Source: MarketsandMarkets Analysis on OLED Market
Converting billion-dollar investments, made for establishing Gen 6 and above display facilities, into profit
despite declining ASPs of display panels will be a major challenge for panel markers. Chinese panel makers,
especially BOE, CSOT, and CEC Panda may lead the display market accounting for around 40% of the total
display area production (LCD+OLED) by 2022. In OLED market, Chinese players, especially Tianma,
Truly, BOE, and CSOT will further account for more than 60% display
area production by 2022. Government support in terms of finance and land offerings in exchange of minor
stake will be the prime factor for the growth of these players.
Manufacturing equipment suppliers are set to gain the most with the increased investment in Gen 6 and
above facilities and growing OLED market. Gen 8.5 facilities will continue to account for more than 50% of
total display area production for next five years while panel area production from Gen 10 and above will
grow the fastest in same period. Material suppliers are facing challenges as they need to keep investing in
innovations in new and advanced materials for LCD and OLED technologies. Various players are emerging
in the market and collaborating with tier 1 material suppliers, e.g., UDC & PPG Industries. Advanced
materials will be the new game changer for these players. Worldwide demand for display components and
materials is anticipated to reach $35 billion by 2023, growing at a CAGR of 3.1% between 2017 and 2023,
according to a report recently released by MarketsandMarkets. OLED material suppliers will benefit from the
increased demand from Samsung and other players in the short term; however, emerging manufacturing
technologies, such as ink-jet printing, will reduce the material demand due to optimum utilization of
Industry has reached at a point where the demand for displays with power efficiency, high brightness, and fast
response time is increasing rapidly. LCD and OLED panel markers are doing the best in their capability;
however, emerging technologies such as Micro-LED and true-quantum dot will define the future of LCD
and OLED ecosystems. These technologies will affect the entire display value chain, including the material,
equipment, and panel suppliers. Worldwide demand for Micro- LED-based display and lighting panels is
expected to reach $20 billion by 2025, with a growth of 54.7% between 2019 and 2025.
MICRO-LED DISPLAY PANEL MARKET
Smartphone & Tablet
Digital Signage Display
Market Share (%)
Source: MarketsandMarkets Analysis on Micro-LED Market
Many players are offering LED signage displays (less than 1mm pixel-pitch) as of 2017-18 and are targeting
themselves towards 100 micron pixel-pitch for such applications. Based on the current LED manufacturing
capabilities, mass transfer capabilities, and technology advancements; it can be expected that Micro-LED, a
type of direct-view LED technology, may witness commercialization in smartwatches and NTE devices by
2019 and for other applications after 2021.
By Offering (Display Panel and Lighting Device), Application (Smartwatch, NTE
Device, Smartphone & Tablet, Laptop & PC Monitor, TV, HUD, Digital Signage
Display, Lighting), Vertical, and Geography - Global Forecast to 2025.
Display Material Market
By Technology (LCD, OLED), Component & Material (Substrate, Polarizer, Color
Filter, Liquid Crystals, BLU, Emitter & Organic Layer, Encapsulation), Panel Type,
Application (Smartphone, Television), Region
Global Forecast to 2023.
By Display Application (Smartphone, TV, Automotive, NTE), Panel Type (Rigid,
Flexible), Technology, Size, Material (FMM RGB, WOLED), Lighting Application
(General, Automotive), Panel Type, & Vertical, and Geography
Global Forecast to 2023.
Large Format Display (LFD) Market
By Offering, Display Type (Video Wall & Standalone), Technology (LED-Backlit
LCD, Direct-View LED, OLED, E-Paper), Size, Brightness Level, Application (Indoor
& Outdoor), Vertical, and Region - Global Forecast to 2023.
By Technology (LED-backlit LCD, OLED, QD-LED, E-Paper), Display Type (Flat,
Flexible, Transparent), Application (Smartphone & Tablet, TV & Digital Signage, PC
Monitor & Laptop), Vertical, and Geography
Global Forecast to 2022.
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