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In this press release, TrendForce details 10 major trends that are expected to take place across various segments in the tech industry.
Thanks to their continued capacity expansion and M&A efforts, Chinese panel manufacturers accounted for nearly 60% of the global supply of TV panels in 1H21, according to TrendForce’s latest investigations. These suppliers have not only managed to dominate their global competitors, but also become the key determinant of the supply and demand situation in the TV panel market. TrendForce believes that, while the TV panel market has started to experience a bearish trend, the industry must pay close attention to whether Chinese suppliers will eschew their previous strategy of maximum capacity utilization and instead turn to other options in order to maintain the health of the overall market. Taiwanese and Korean suppliers, on the other hand, have opted for a strategy that optimizes their existing operations by reallocating some of their production capacities from TV panels to other product categories such as IT panels. In addition to raising these suppliers’ competitiveness through better product differentiation, the reallocation of production capacity also alleviates the suppliers’ pressure of having to rely solely on TV products to expend their panel capacities.
Thanks to TV manufacturers’ aggressive procurement activities, global TV panel shipment for 1H21 reached 135.2 million pcs, a 3.5% YoY increase, according to TrendForce’s latest investigations. Notably, high-end OLED TV panels and 8K LCD TV panels showed diametrically opposed movements. The former product category reached a 2.6% market share in 1H21 (with room for further growth going forward) due to LGD’s capacity expansion as well as the narrowing gap between OLED panel prices and LCD panel prices. On the other hand, the latter’s market share fell to a mere 0.2% in 1H21 as panel suppliers were generally reluctant to manufacture 8K LCD TV panels due to these panels’ poor yield rates.
The massive rise in market demand for notebook computers in response to distance learning needs and WFH applications from 2020 to 2021 has generated not only a double-digit growth in notebook panel shipment, but also a price hike of more than 40% for notebook panels, according to TrendForce’s latest investigations. As various suppliers subsequently scramble to manufacture OLED, LTPS, and oxide panels, TrendForce forecasts these high-end notebook panels to reach a 17.8% market share in 2021 and 21.4% in 2022.
In view of aggressive procurement activities for panels used in various applications, TrendForce forecasts a 2% glut ratio for the large-sized TFT-LCD panel market for 2021, representing a supply and demand situation that ranges from “healthy” to “slightly in shortage”. As a lack of components constrained panel shipment in 1H21, the overall panel market during this period had a 1.2% glut ratio, which was lower than the average range of 2.5-3% and represented a supply shortage in the panel market. Hence, panel prices were driven into an uptrend for the first half of the year.