The liquid-crystal display (LCD) glass market has been forecast to increase at a compound annual growth rate (CAGR) of 6.6% through 2016, driven by the increasing penetration of LCDs, and the reduction in the thickness of substrates.
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 massivemarket 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.
LCDs are increasingly being preferred over the conventional display systems such as CRT displays. Moreover, LCDs offer several advantages over CRT displays due to their light weight and better display quality.
A reduction in the thickness of LCD glass substrates used in flat panel displays facilitates the use of thinner and lighter LCD panels.
Thinner and lighter LCD displays have a huge potential for usage in mobile applications, which is expected to increase the demand for LCD glass in the market. This will in turn help flat panel display manufacturers to enhance their value proposition to customers
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.
Key players currently dominating the LCD glass market include Asahi Glass Co. Ltd., Corning Inc., Nippon Electric Glass Co. Ltd., and Samsung Corning Precision Materials Co. Ltd.
For more information on the LCD glass market, see the latest research: LCD Glass Market
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