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2022
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TFT-LCD is the mainstream display and the global market share of Chinese enterprises is increasing
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The global TFT-LCD industry has entered its mature stage. In the past 5 years, the overall output value of TFT-LCD is relatively stable and fluctuates around $130 billion. Among which, China has become the world’s largest TFT-LCD producer.
TFT－LCD (thin film transistor liquid crystal display) is an outcome of microelectronics technology and liquid crystal display technology, a kind of LCD, belonging to the active matrix LCD. TFT－LCD has a three-layer structure, among them, the upper glass substrate is a color filter, the lower glass substrate contains a transistor, and the liquid crystal is located between them. TFT－LCD has the following advantages: High resolution, strong interference immunity, low working voltage, low power consumption, long lifetime and wide application range.
TFT－LCD is widely used in TV, PC, laptops, tablets, projectors, car monitors, smart phones, wearable devices, smart homes and many other fields. The large global shipments of smart phones and computers as well as rapid development of wearable devices and smart home market, have brought robust demand for TFT-LCD.
Compared with the overseas market, China's TFT-LCD production capacity has expanded rapidly in the past five years, and the output value has continued to grow. According to the "China Thin-Film Transistor Liquid Crystal Display Device (TFT-LCD) Industry Market Research Report in 2022-2026" released by the Newsijie Industry Research Center, China's TFT-LCD production capacity accounted for more than 50% of the total global production capacity for the first time in 2020; China’s TFT-LCD production capacity accounted for 57% of the total global production capacity and its output value reached about 74 billion dollars in 2021. In 2021, Chinese enterprises including BOE, CSOT, Innolux Display Group, AUO and HKC had high shares in the global TFT-LCD market, among which, BOE is the world's largest TFT-LCD manufacturer with strong competitiveness in the field of large-size TFT-LCDs.
With the continuous improvement in global display panel technologies as well as the incremental iteration and update of products, CRT has been eliminated and LCD has become the mainstream, meanwhile, OLED is squeezing the LCD market due to its lighter, thinner, flexible and transparent display and other advantages. The global TFT-LCD production capacity is concentrated in Chinese mainland, Taiwan and South Korea. In South Korean market, the panel makers such as Samsung and LG are phasing out LCD production lines to expand OLED production capacity. Although TFT－LCD is the current mainstream LCD product, only LG still has some large-size TFT-LCD production lines. TFT－LCD production capacity in overseas market is shrinking, therefore, although China's TFT-LCD production capacity is expanding rapidly, the output value of global TFT-LCD is still stable.
The experts of Newsijie expressed that the shipment of TFT-LCD still accounted for 65% in the global display panel industry in 2021, far ahead of OLED's 20%. In comparison, TFT-LCD shipment is relatively stable, and OLED has become the upgrade target of display panel with rapid growth in shipment. In the short term, TFT-LCD will still be the mainstream product in the display panel market, but in the future, its demand will gradually decline under the pressure of OLED; in the long term, the development space of TFT-LCD will shrink. China has become the world's largest TFT-LCD producer with enterprises developed in scales and products with cost-effective advantages; China will further squeeze the development space of the TFT-LCD manufacturers in South Korea and Taiwan. In the future, Chinese TFT-LCD manufacturers are expected to lead the global TFT-LCD market.
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