CINNO Research: It is expected that the global panel industry will maintain a steady growth trend by 2025.

CINNO Research report indicates that the global panel industry will experience a recovery growth in 2024, with the steady growth trend expected to continue in 2025. The market share of display panels in mainland China continues to expand in multiple sub-markets, further consolidating its position as a global panel manufacturing center. AMOLED technology will continue to maintain high growth momentum, while TFT-LCD will maintain steady growth in shipment area under the trend of large-size display. In the future, with the release of new production capacity and the advancement of technological innovation, the global panel industry will experience stable development. Global panel capacity steadily increasing, OLED accounts for nearly 10% CINNO Research data shows that in 2024, the total capacity of global TFT-LCD and AMOLED panels reached 409 million square meters, an increase of 2.5% year-on-year. It is expected that global panel capacity will continue to grow by 2.3% in 2025, with the proportion of AMOLED capacity maintaining close to 10%. In 2025, some new production lines and capacities will still be gradually released in mainland China, and there are expansion plans for some high-generation TFT-LCD lines and AMOLED G6 lines, which will further drive the growth of global panel capacity. Significant growth in production area, impressive performance of AMOLED In 2024, the actual production area of global panels increased by 6.1% year-on-year, and is expected to increase by 4.3% in 2025. In terms of technology categories, with the promotion of large-size display trends, it is estimated that the production area of TFT-LCD panels will increase by about 4% in 2025. AMOLED panels, on the other hand, benefited from the increasing penetration rate of smartphones and the growing demand for medium and large-sized OLED products. The production area of AMOLED panels increased significantly by 33% in 2024, and is expected to grow by 7% in 2025. Steady growth in shipment area, TV and Monitor display panels together account for nearly 80% In 2024, the global panel shipment area increased by 7.6% year-on-year, with TFT-LCD increasing by 6% and AMOLED increasing by 36%. It is expected that the global panel shipment area will increase by 4.2% in 2025, with TFT-LCD and AMOLED increasing by 4% and 7% respectively. In terms of application areas, TV and Monitor panels together account for nearly 80% of the total, demonstrating the profound impact of the trend towards larger displays on the market. Revenue recovery growth in global panels, mainland China's share close to 50% It is estimated that the global panel enterprise revenue will reach 119.2 billion US dollars in 2024, an increase of 5.8% year-on-year. It is expected that global panel revenue will grow by 2.8% in 2025, mainly driven by the growth in shipment area and slight price fluctuations. In terms of regional share, the share of panel revenue in South Korea is expected to decrease to 34.3% in 2025, while mainland China's share will increase to 49% and Japan's share will decrease to 3%. Mainland China's dominant position in the global panel market is further highlighted. TV panels: Mainland China's shipment volume accounts for 64%, expected to reach 69% in 2025 In 2024, the global TV panel shipment volume increased by 3.9% year-on-year, and is expected to decrease by 1% in 2025. The shipment volume of AMOLED TV panels recovered in 2024 but has not yet reached the levels of 2021 and 2022, with an expected slight increase to around 7 million pieces in 2025. Mainland China's share in the TV panel market continued to expand, reaching 64% in 2024, and is expected to further increase to 69% in 2025. Monitor panels: Mainland China's share continues to increase In 2024, the global Monitor panel shipment volume increased by 7.5% year-on-year, and is expected to increase by 2.6% in 2025. Mainland China's share in the Monitor panel market increased from 59% in 2023 to 64% in 2024, and is expected to reach 66% in 2025, while China Taiwan and South Korea's share will be 18% and 19% respectively, with an expected decline of 1 to 2 percentage points in 2025. NB panels: Mainland China's share close to 50% In 2024, the global NB panel shipment volume increased by 12% year-on-year, and is expected to increase by 3% in 2025. Mainland China's share in the NB panel market increased from 42% in 2023 to 47% in 2024, while China Taiwan and South Korea's share were 35% and 15% respectively, and Japan's share further shrank to 3%. Tablet panels: Mainland China's share over 70% In 2024, the global Tablet panel shipment volume increased by 11.5% year-on-year, and is expected to decrease by 1.5% in 2025. Mainland China's share in the Tablet panel market increased from 62% in 2023 to 71% in 2024, while China Taiwan and South Korea's share were 14% and 12% respectively, and Japan's share decreased to 2%. Smartphone panels: Significant growth in AMOLED In 2024, the global shipment volume of smartphone panels increased by about 10% year-on-year, and is expected to decrease by 3% in 2025. Among them, the shipment volume of AMOLED smartphone panels increased by 27% in 2024, and is expected to increase by 5.2% in 2025. Mainland China's share in the smartphone panel market increased from 68% in 2023 to 72% in 2024, while Japan's share decreased to 1%. Automotive display panels: Mainland China's share exceeds half for the first time In 2024, the global shipment volume of automotive display panels increased by 5.2% year-on-year, and is expected to increase by around 3% in 2025. Mainland China's share in the automotive display panel market exceeded half for the first time, reaching 52%, and is expected to further increase in 2025. Japan's share of the shipment volume of automotive display panels decreased from 21% in 2023 to 18% in 2024, while China Taiwan and South Korea's share remained stable.