LONDON-The global manufacturing of LCD TV panels is expected to see a drop off over the next year or so after significant growth over the last several years because of the impact of the coronavirus pandemic, according to a report from Omdia.
As COVID-19 has spread throughout the globe, South Korea suppliers are planning to completely exit LCD TV panel production in Korea in 2020. This will result in the loss of 57 million square meters of capacity, or 17% of total capacity, per Omdia by next year.
Demand for new LCD TV panels is also expected to decline from 2019 numbers by about 10%, Omdia says. From 2019-2021, Omdia estimates manufacturing capacity is only expected to grow by 2%-it grew almost 50% from 2013-2020.
Factories are expected to continuously be added in China, though they are currently experiencing setbacks related to the COVID-19.
Omdia projects that unit demand will begin to recover after 2021, but that it could take two to three years to reach 2019 levels. However, this could be helped by a demand for larger LCD TV panels, with the average panel size of LCD TV panels increasing from 45.4 inches to 49.2 inches.
The year 2020 was previously expected to be a time of substantial change for the FPD (flat panel display) industry, said Charles Annis, senior director at Omdia. However, now with COVID-19 and Korean panel makers withdrawing from LCD TV panel production faster and more abruptly than even the most aggressive scenarios, it now looks like this year will suffer from more disruption than anyone imagined only a few months ago.
If a V-shaped recovery in LCD TV demand can be realized, the combination of larger average sizes and minimal capacity growth are expected to push the large-area FPD supply glut to a very low level of 5% in the third quarter of 2021, Annis continued. That is a positive leading indicator for improved pricing and better financial performance for panel makers in 2021 and beyond.
Omdia's complete report on LCD TV panels is available online.
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LONDON-The global manufacturing of LCD TV panels is expected to see a drop off over the next year or so after significant growth over the last several years because of the impact of the coronavirus pandemic, according to a report from Omdia.
