In the past, the global market for large-size panels was dominated by South Korean manufacturers. However, this dynamic is rapidly shifting. According to recent data from WitsView Research Center, China is set to surpass South Korea in 2017 as the largest supplier of large-size panels. By 2020, it's estimated that China’s supply share will reach nearly 50%, marking a significant shift in the industry landscape.
According to Wang Jingyi, a senior research manager at WitsView, the growth is driven by strong domestic demand and government support. Major panel manufacturers are expanding their operations in China, while South Korean giants like Samsung and LG have been reducing their fifth-generation capacity in the country. In fact, Samsung has even shut down one of its seventh-generation lines in South Korea, contributing to China's rise in the market.
In 2017, China's large-size panel supply rate reached 35.7%, making it the top supplier globally, followed closely by Taiwan with 29.8% and South Korea dropping to third place with 28.8%. This marks a clear realignment of the global panel supply hierarchy.
The global production of large-size panels in 2017 reached 247 million square meters, showing a modest annual growth of just 1.3%, the lowest in three years. However, the introduction of six new 10.5-generation lines between 2018 and 2020 is expected to drive a surge in production capacity. The growth rate is projected to jump to 8-9% annually, reaching 318 million square meters by 2020.
BOE Hefei's upcoming 10.5-generation line is set to begin mass production in 2018, marking a major milestone in the industry. Alongside Other projects like Huaxing Optoelectronics’ Shenzhen facility, LG Display’s Paju plant, BOE Wuhan, and Foxconn’s Wisconsin factory, the expansion of 10.5-generation lines signals a new phase in large-panel manufacturing.
However, the increased production capacity also brings risks. With each 10.5-generation line producing approximately 1.8 times more glass than an 8.5-generation line, the potential for oversupply is growing. Some manufacturers are holding back investments to avoid financial strain, and the competition between generations and product mix adjustments will be critical for long-term stability.
IHS, another market research firm, predicts continued growth in the large-size TFT-LCD market despite a slowdown in terminal demand. In 2017, unit shipments are expected to reach 688 million, up 1%, while area shipments could grow by 6% to 180 million square meters. Tablet screen shipments are forecasted to rise by 10%, reaching 93 million units, while laptop screens are expected to increase by 4%.
Peter Su, IHS’s chief analyst, notes that Chinese panel makers are aggressively expanding in these markets, while leading manufacturers are gradually scaling back production. Meanwhile, TV display shipments fell by 3% year-on-year in 2017 to 257 million units, though they still account for 78% of the total large-screen area and are expected to grow by 5%.
Leading panel makers, particularly in South Korea, are focusing on larger TVs (49 inches or more) to improve profitability, while cutting back on smaller, lower-margin models. Chinese companies are following suit, increasing production of large TVs (43 inches or more).
Despite the high prices of large displays, especially for TVs, the domestic market slowdown and rising costs in North America led to a 5.2% drop in global LCD TV shipments in Q2 2017. However, price pressures eased slightly in May and June, although panel makers still struggled to meet TV brand demands. As new production capacities come online, TV manufacturers may push for further price cuts.
WitsView reports that after a brief pause in June, TV panel prices dropped sharply in August, with mid-sized panels (like 55-inch, 65-inch, and 40–43-inch) seeing the biggest declines. This led some TV brands to cut prices to gain market share. Xiaomi was the first to fully reduce prices in September, citing falling upstream material costs. According to co-founder Wang Chuan, the company adjusted prices across its lineup by around 1,000 RMB due to the drop in raw material costs.
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