Display Glass Substrates Achieve Highest Sales in a Decade... Shipments Up 11%

Market Research Firm "Counterpoint Research" Analysis
Korean and Japanese Markets Shrink...
Chinese Dominance Becomes More Pronounced

The display glass substrate market recorded its highest sales in a decade in the first quarter of this year, driven by high utilization rates among panel manufacturers.

Display glass substrate. Photo by Counterpoint Research

According to market research firm Counterpoint Research on May 29, display glass substrate shipments in the first quarter increased by 5% compared to the previous quarter and by 11% compared to the same period last year.

However, shipments in the second quarter are expected to remain flat compared to the previous quarter. In the third quarter, shipments are projected to decrease by 3% quarter-on-quarter. Demand for glass substrates in the first quarter remained below the record high set in the first quarter of 2022. The production capacity of the display glass substrate industry decreased by 2% compared to the previous quarter and by 1% compared to the same period last year.

The market share of glass substrates for 8th generation and above reached a record high of 79%. This is attributed to increased utilization rates at LCD production lines to support TV shipments to the United States in response to tariffs, as well as a rise in TV demand within China driven by government subsidies.

By region, Counterpoint Research noted that the dominance of Chinese panel manufacturers is becoming more pronounced, while the influence of the Korean and Japanese markets is gradually diminishing.

While Corning ceased production in Japan following the shutdown of Sharp's 10th generation production line, local glass substrate manufacturers in China have newly expanded their 8.5th generation production facilities. Overall glass substrate production capacity remains slightly higher than demand, with some facilities remaining idle.

In Korea, Samsung Display and LG Display have converted their production lines to organic light-emitting diode (OLED) and closed their LCD lines, resulting in a decrease in the country's total display production capacity. Korea's market share in the glass substrate sector reached as high as 27% in early 2018 but has recently declined to around 6%.

This content was produced with the assistance of AI translation services.