The overall global production capacity for large-size (9-inch and above) TFT LDC panels is estimated to see an impressive CAGR of 7% in the next five years, driven by robust market demand for public display and auto-use panels and the trend of tablets getting larger in size, Digitimes Research estimates.
The markets for TV, monitors, and notebooks have entered the maturity stage, and their corresponding global panel shipment volumes are estimated to see a CAGR of 1%, -2.3% and 1.1%, respectively, during the 2018-2022 period.
In contrast, the global shipment volume of 9-inch and above panels needed for tablets is projected to see a higher CAGR of 5.2% for the same period, while an even higher CAGR of 8.7% is expected for shipments of public display panels and large-sized auto-use panels. Driven by higher expansion in the shipments of these latter two segments, the overall global shipment volumes of large-sized LCD panels are expected to see a CAGR of 1.3% in the same five-year period.
The aggregate shipment volumes of large-sized TFT LCD panels rolled out by Taiwan suppliers (excluding Sharp) are expected to edge down 0.8% on year to reach 235 million pieces in 2018, and their combined share of the global production capacity is anticipated to decline as well because a number of new production lines in China will become operational next year.
In terms of global LCD panel production capacity shares, China is expected to rank No.1, for the first time ever, at 34.2%, including the fabs set up in the country by South Korean players and Foxconn Group. With many 8.5G and above panel plants to start volume production in China, China's share of the global capacity may soar to 49.9% in 2020 and 53.5% by 2022, Digitimes Research estimates.
As to the capacity rankings for individual players, Foxconn (including Innolux, Sharp and two 10.5G plants to be established in China and the US), will take the lead in 2022, followed in sequence by China-based BOE Technology, Korea's Samsung Display (SDC) and LG Display (LGD). LGD lags behind SDC mainly because it has switched part of its 8.5G and above LCD panel capacities to support production of OLED TV panels.