China: Market for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) 2024

Market Size for Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in China

In 2021, the Chinese market for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) decreased by -29.8% to $X for the first time since 2018, thus ending a two-year rising trend. Overall, consumption, however, saw a tangible expansion. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Production of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD) in China

In value terms, LCD or LED indicator panel production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 27% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Exports from China

In 2021, overseas shipments of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) were finally on the rise to reach X units after two years of decline. Over the period under review, exports posted a perceptible expansion. The most prominent rate of growth was recorded in 2018 with an increase of 458%. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, LCD or LED indicator panel exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Hong Kong SAR (X units) was the main destination for LCD or LED indicator panel exports from China, with a 39% share of total exports. Moreover, LCD or LED indicator panel exports to Hong Kong SAR exceeded the volume sent to the second major destination, Japan (X units), sixfold. The third position in this ranking was taken by South Korea (X units), with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+0.2% per year) and South Korea (+2.6% per year).

In value terms, Hong Kong SAR ($X), the United States ($X) and South Korea ($X) constituted the largest markets for LCD or LED indicator panel exported from China worldwide, with a combined 40% share of total exports. These countries were followed by Japan, Vietnam, Germany, Malaysia, Poland, Taiwan (Chinese), Brazil, Italy, the United Arab Emirates and Turkey, which together accounted for a further 27%.

In terms of the main countries of destination, Vietnam, with a CAGR of +37.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average export price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) amounted to $X per unit, declining by -1.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average export price increased by 409% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the United States ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+13.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Indicator Panels Incorporating Liquid Crystal Devices (LCD) Or Light Emitting Diodes (LCD)

Imports into China

In 2021, supplies from abroad of indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) increased by 3% to X units, rising for the fifth year in a row after two years of decline. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 59%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, LCD or LED indicator panel imports dropped significantly to $X in 2021. Over the period under review, imports, however, saw a mild curtailment. The growth pace was the most rapid in 2019 when imports increased by 79%. As a result, imports attained the peak of $X. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Taiwan (Chinese) (X units), Japan (X units) and Hong Kong SAR (X units) were the main suppliers of LCD or LED indicator panel imports to China, together accounting for 74% of total imports. South Korea, Thailand, the Philippines and the United Arab Emirates lagged somewhat behind, together comprising a further 11%.

From 2012 to 2021, the biggest increases were in the United Arab Emirates (with a CAGR of +46.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X), Japan ($X) and Thailand ($X) were the largest LCD or LED indicator panel suppliers to China, with a combined 23% share of total imports. The United Arab Emirates, South Korea, Hong Kong SAR and the Philippines lagged somewhat behind, together comprising a further 6.3%.

Among the main suppliers, the United Arab Emirates, with a CAGR of +22.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average import price for indicator panels incorporating liquid crystal devices (LCD) or light emitting diodes (LCD) stood at $X per unit in 2021, which is down by -57.7% against the previous year. Over the period under review, the import price showed a abrupt contraction. The pace of growth was the most pronounced in 2016 an increase of 100%. The import price peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United Arab Emirates ($X per unit), while the price for Hong Kong SAR ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (+1.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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