China is rising fast in the global display market on the back of aggressive investment, pushing up its share in the global LCD market. Korea, the No. 1 player in the global display industry, is placing more focus on cutting-edge technologies such as organic LEDs, aimed at widening its lead over China.
According to market research firms IHS Markit and IDC on April 9, the world's LCD output is forecast to reach 175.3 square kilometers this year, up 4 percent from 169.2 square kilometers a year ago.
The main product driving the growth in LCD output is television. The shipments of LCDs for TV applications are expected to fall to 251.29 million units this year, down by 13.21 million units from 264.50 million units a year ago.
However, due to the enlargement in overall size of TVs, the LCD production is expected to achieve a positive year-on-year growth.
China's LCD output is likely to continue to increase by 2020 thanks to the hike in its investment in display capacities. In terms of LCD production area, China's major panel makers are forecast to see their share rise to 26.8 percent this year from 12.8 percent in 2014. In other words, they have doubled their share in the global LCD market in just three years.