Global Market for LCD Glass Substrates to Cross 467.2 Million Square Meters by 2017, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on LCD Glass Substrates markets. The global market for LCD glass substrates is projected to cross 467.2 million square meters by the year 2017, primarily driven by rising penetration of LCD TVs and the growing demand for large size displays. In addition, technological advancements, mounting demand for display applications and government stimulus programs will provide impetus to the LCD industry and consequently drive growth in the market for LCD glass substrates. Asian markets including Korea, Taiwan and the recent contender China are the primary LCD glass substrates hubs worldwide and continue to accelerate development and expansion at an impressive pace.

LCD Glass Substrates: A Global Strategic Business Report

The LCD glass substrates industry is an important component sector of the LCD market and mirrors the main market in terms of development and technological advancements. The LCD technology has witnessed growth only since the beginning of the last decade, with increasing number of consumers opting for LCD products, primarily LCD televisions. Low cost and aggressive marketing strategies of manufacturers have induced a massive market shift from the conventional CRT TVs to the advanced LCD flat panel TVs. Many consumers have not just opted for LCD systems, but have made a transition to large-size LCDs, spurring growth in the market for large-size display panels. In addition, shorter replacement cycles and growing demand from emerging markets is also driving the market for LCD systems, more importantly for LCD TVs. Such trends characterizing the overall LCD industry are pushing forward the market for LCD glass substrates and driving it to achieve high growth levels. The growing demand for LCD TVs and in particular the demand for large-size displays is encouraging panel manufacturers to employ larger substrates, thereby enabling them to achieve greater process efficiency. This rising demand for glass from the panel industry is in turn fuelling development of larger substrates and promoting the introduction of new generations of glass. Demand for substrates is also being driven by the rising consumer preference for LCD monitors and LCD laptop/notebooks over the traditional CRT based systems.

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 penetration rate of LCD TVs is significantly low in many countries across the globe, particularly in developing nations. While in developed regions such as North America, Western Europe, and Japan, flat panel display televisions account for a substantial percentage of the overall shipments, sales of LCD TVs in emerging markets of Asia, Latin America and Middle East is still considerably low. This clearly presents tremendous growth and expansion opportunities for the manufacturers. In recent years, the trend has tilted in favor of LCD TVs in countries like China where more than 75% of the TV shipments now comprise of LCD technology.

Size of the glass substrate plays an important role in determining market demand. With advancements in glass manufacturing technology over the years, substrate sheet sizes have also increased with each subsequent generation over the last 20 years. The latest generation 10 introduced in 2010 offers atleast 55%-60% greater area compared to generation 8 substrates. About 70% of all LCD TVs are expected to be manufactured with generation 7 or higher technology. The older generation versions tend to be more inclined towards diverse applications such as monitors, handsets and notebooks. Substrate with qualities such as high chemical durability, low coefficient of thermal expansion, and low density are increasingly playing an important role in enhancing throughput and yield of the LCD panel industry.

Korea dominates the global scenario as the single largest market for LCD glass substrates, as stated by the new research report on LCD Glass Substrates. The well-established flat panel display industry in the country provides a strong market for glass substrates, with the domestic LCD panel manufacturers occupying a leading position in the international market also. The growing penetration of LCD TVs in China on the back of several government initiatives and its increasing importance as a preferred manufacturing destination is expected to push the market in China towards rapid expansion at a sturdy CAGR of over 35% through 2017. The end-use market of LCD TV is the clear market leader. OLED TVs, Laptop/Notebook and PC Monitor are some of the other major application markets for LCD glass substrates.

In terms of market participants, the glass substrate industry is dominated by a handful of deep-pocketed players who are the primary trendsetters and have a dominant presence in major markets. The rest of the market is highly fragmented with few small and medium players competing for stronger position. Inhibiting entry barriers such as high capital outlay and complex technology requirements hinder new players from entering the market. Key participants profiled in the report include Asahi Glass Co., Ltd., AvanStrate, Inc., Corning, Inc., Samsung Corning Precision Materials Co., Ltd, IRICO Group Electronics Company Limited, LG Display and Nippon Electric Glass Co., Ltd.

The research report titled “LCD Glass Substrates: A Global Strategic Business Report”, announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, issues & trends, FPD market, product overview, recent industry activity and profiles of market players worldwide. Market Analytics and overview is provided in unit (thousand square meters) terms for major geographic markets such as Taiwan, Korea, Japan, China, and Rest of World. Key end-use markets analyzed include, LCD TV, PC Monitor, Laptop/Notebook and Other Segments.

For more details about this comprehensive market research report, please visit –

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
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