What They Say
DSCC published a blog detailing the changes in its forecast for LCD & OLED capacity as the LCD industry has become profitable again and makers try to squeeze out more production without big new fabs. China is the only region expected to experience capacity growth over the forecast. It has upgraded its LCD forecast and downgraded OLED due to several delays and one fab cancellation.
By manufacturer, BOE became the #1 display supplier on a capacity basis in 2019 with a 17.5% to 16.6% advantage over LGD. We expect BOE to widen its advantage on an 11% CAGR, up from 9%, from 2020 to 2025 due to its acquisition of most of CEC Panda and its G10.5 LCD and G6 and G8.5 OLED investments. China Star is expected to become #2 in 2022 on its acquisition of SDC Suzhou and its new LCD and OLED fabs growing at an 18% CAGR. LGD is now expected to fall more slowly as it keeps its LCD fabs operating in Korea for longer. It will still fall from #1 in 2018 to #2 in 2019, #3 in 2022, #5 in 2024 and 2025.
What We Think
As usual, DSCC provides more detail in its blog including the regional trends, which would be useful if you are looking at the equipment or supply chain. (BR)
2017 – 2025 Display Capacity Forecast, Growth and Change vs. Last Quarter
Display Capacity by Manufacturer
