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The global LCD substrate market hit a value of hit US$15.846 billion in 2011, and by 2012, due to the dive of LCD-TV market, the LCD substrate market saw oversupply, causing the market value to decline to US$13.533 billion as a result of the price slump of large-sized LCD substrate. It is estimated that the LCD substrate market is likely to continue to drop by less than 9% in 2013.
The LCD glass substrates industry is an important component sector of the LCD market and mirrors the main market in terms of development and technological advancements. The LCD technology has witnessed growth only since the beginning of the last decade, with increasing number of consumers opting for LCD products, primarily LCD televisions.
There is a high threshold for accession into LCD substrate industry. The combined market occupancy of the world's four leading LCD substrate tycoons surpasses 95%. As estimated, the market share of Corning will reach 21% in 2012; that of Samsung Corning, 50% stake of which is held by Corning, will realise 23%; that of AGC and NEG will be 27% and 28% respectively.
Size of the glass substrate plays an important role in determining market demand. With advancements in glass manufacturing technology over the years, substrate sheet sizes have also increased with each subsequent generation over the last 20 years.
The latest generation 10 introduced in 2010 offers atleast 55%-60% greater area compared to generation 8 substrates. About 70% of all LCD TVs are expected to be manufactured with generation 7 or higher technology.
The market is largely limited to a few Asian countries such as Korea, Taiwan and Japan, as these countries form the main manufacturing hub for high quality glass substrates, one of the core elements used in making LCD panels. However, with the entry of few domestic players in the LCD manufacturing scenario, China is rapidly emerging as a strong contender in the substrates market.
In the Chinese market, Corning contracts glass substrate business of BOE; AGC undertakes the glass substrate business under CSOT Corporation, while NEG becomes the glass substrate supplier of Shanghai-based Tianma Micro-electronics and Infovision Optoelectronics.
NEG, the sole company with the rising market occupancy, is mainly driven by its largest customer LG Display. AGC has set its footholds in South China and, is expected to outdo NEG in the future.
For more information on the LCD substrate market, see the latest research: LCD Substrate Market
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