What They Say
DSCC published a blog post (free registration needed) that included extracts from its latest display glass report and reported that glass shipments increased by 13% in 2021 to a record level of 687 million m², with 174.5 million m² shipped in Q4. Capacity was flat in Q4 2021 at 180 million m². Overall capacity was up 9% on 2020 in 2021 to 712 million m² with Corning adding capacity in China.
China has taken a dominant position, with share growing from 40% in Q1 2018 but up to 64% in Q1 2022, whereas Korea has gone down from 27% to 18% over the same period.
Glass prices in Q4 2021 averaged ¥1174 (US$10.67) per m², up 6% in yen terms Y/Y, but down 3% in US dollar terms as the yen weakened during 2021.
DSCC estimates that total industry revenues in Q4’21 increased 1% Q/Q and 15% Y/Y to ¥202 billion.
Corning has around half the revenues for the industry, with AGC and NEG taking most of the rest roughly split between them (there’s a chart on the blog)
What We Think
Given DSCC founder Bob O’Brien’s background at planning in Corning, DSCC should have a pretty good grip on the market for glass and its dynamics! (BR)
