Corning: LCD Glass Market to Hit 2.2 Billion Square Feet in 2008

Forbes: Corning is the largest supplier of LCD glass, by a good margin. Corning has roughly 60% of the market cornered while runner up Asahi Glass Co. (AGC) has about a 20% share. During the Display Taiwan 2008 Business & Technology Forum in Taipei, Corning stated that global LCD demand will grow between 25% and 30% Y/Y in 2008.

Corning also stated that retail sales of LCD TVs are remaining strong on a global basis, including the US. This is surprising news but welcome. There have been reports of consumers shifting to more affordable LCD TVs that mean smaller sizes.

Currently, there is much room to grow. LCD TV penetration is at under 8.0% worldwide with 1.9 billion TVs installed and just 152 million of them being LCD TVs. The main technology? CRT TVs still reign supreme. Still 2.2 billion square feet is the demand for LCD glass in 2008. The more demand for glass the better it is for Corning. Last year the total demand for LCD glass was 1.7 billion square feet and in 2006 it was 1.2 billion square feet.

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