The global LCD glass substrates market size was valued at USD 7879.5 million in 2020 and is anticipated to reach USD 10090 million by 2028, expanding at a CAGR of 4.2% during the forecast period, 2021–2028. Growth of the market is attributed to extensive use of LCDs in PCs, TVs, tablets, and smartphones.
LCD glass substrate is a particular glass used for thin-film transistors (TFTs), which is used to produce LCD screens. These screens are mainly used in the displays of personal computers, televisions, and mobiles. An LCD panel is created by several LCD glass substrate layers and color filters.
The Covid-19 pandemic affected the demand and supply of the LCD glass substrates market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production, leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
The report on the global LCD glass substrate market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
LCD Glass Substrates Market -Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Category (Gen. 8 and above, Gen. 7, Gen. 6, Gen. 5.5, Gen. 5, and Gen. 4 and below) and Applications (LCD televisions, PCs, LCD monitors, Mobile phones, Digital cameras/camcorders, Game consoles, and Automotive navigation system) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Avanstrate, Samsung, Asahi Glass Co., Nippon Electric Glass, HongHai, IRICO Group, LG Display, and Corning. |
The Gen. 8 and above segment is projected to expand at a robust CAGR
Based on category, the global LCD glass substrates market is segregated into Gen. 8 and above, Gen. 7, Gen. 6, Gen. 5.5, Gen. 5, and Gen. 4 and below. The Gen. 8 and above segment accounts for a key share of the market, due to technological developments in the electronics industry in recent years along with expansion and innovation of the products by key players.
The mobile phones segment is expected to hold a major share of the market
Based on applications, the global LCD glass substrates market is fragmented into LCD televisions, PCs, LCD monitors, mobile phones, digital cameras/camcorders, game consoles, and automotive navigation system. The mobile phones segment accounts for a key share of the market. The LCD television segment is anticipated to expand at a rapid pace during the forecast period, owing to the immense development of television displays along with the persistence investment of key players in terms of innovation and expansion.
The market in North America to expand at a robust CAGR
In terms of regions, the market is broadly classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific holds the maximum share of the global LCD glass substrates in terms of revenue, production, and consumption, owing to the large scale production of electronics in the region. The market in North America and Europe is anticipated to expand at a rapid pace during the forecast period, owing to growing consumer spending, high usage of electronic devices, and being a key producer of automotive vehicles.
The Global LCD Glass Substrates Market has been segmented on the basis of:-
Category
Applications
Regions
Key Companies
Key players in the global LCD glass substrates market include Avanstrate, Samsung, Asahi Glass Co., Nippon Electric Glass, HongHai, IRICO Group, LG Display, and Corning.
Key players including Corning Inc., Avanstrate, and Samsung are concentrating on product quality, expansion, and innovations in order to satisfy customer demands, along with rising compliance on international quality standards.
Corning, AGC, and NEG occupied 90% of the LCD glass substrates market. In 2018, Corning incorporated its latest production facility of Gen 10.5 LCD glass substrate, which was co-located with BOE technology CO. Ltd.’s plant. This facility has a production capacity of 1440,000 units of glass per annum.
The Global LCD Glass Substrates Market has been segmented on the basis of:-
Category
Applications
Regions
Key Companies
Key players in the global LCD glass substrates market include Avanstrate, Samsung, Asahi Glass Co., Nippon Electric Glass, HongHai, IRICO Group, LG Display, and Corning.
Key players including Corning Inc., Avanstrate, and Samsung are concentrating on product quality, expansion, and innovations in order to satisfy customer demands, along with rising compliance on international quality standards.
Corning, AGC, and NEG occupied 90% of the LCD glass substrates market. In 2018, Corning incorporated its latest production facility of Gen 10.5 LCD glass substrate, which was co-located with BOE technology CO. Ltd.’s plant. This facility has a production capacity of 1440,000 units of glass per annum.
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