In the first quarter of this year, as the operational rate of display panel manufacturers increased, the shipment volume of glass substrates for displays reached its highest level in 10 years.
According to the market research firm Counterpoint Research on the 29th, the shipment volume of display glass substrates in the first quarter increased by 5% compared to the previous quarter and by 11% compared to the same period last year.
However, the shipment volume is expected to remain steady in the second quarter compared to the previous quarter, and it is projected to decrease by 3% in the third quarter. Demand for glass substrates in the first quarter remained below the peak recorded in the first quarter of 2022.
The market share of glass substrates larger than the 8th generation recorded an all-time high of 79%. This is a result of liquid crystal display (LCD) production lines increasing their operational rates in response to tariffs to export TV products to the United States and the rise in domestic TV demand in China, spurred by government subsidies.
By region, Counterpoint Research noted that the dominance of Chinese panel manufacturers is becoming increasingly prominent while the influence of the Korean and Japanese markets is gradually diminishing. Samsung Display and LG Display have reduced total display production capacity in Korea by transitioning their production lines to organic light-emitting diode (OLED) technology and shutting down LCD lines.
Korea's glass substrate market share reached 27% in early 2018 but has recently remained around 6%.