As 2024 draws to a close, the Micro LED industry is preparing to wrap up another transformative year. Looking ahead to 2025, the Micro LED sector in China is expected to continue its growth trajectory, with the market size forecast to expand further.
Capacity Layout: Shifting to Mainland China
In 2024, major Taiwanese panel manufacturers such as Innolux and AUO continued their capacity adjustment strategies, closing or revamping several factories. For instance, Innolux shut down its back-end module factories in Shanghai and Nanjing, as well as its panel factory in Zhunan. AUO, on the other hand, closed two color filter factories in the Tainan Technology Industrial Park and plans to shut down its L4B factory in Singapore. Meanwhile, both companies are actively seeking transformation and exploring new technological areas. Innolux shifted some production lines to FOPLP (Fan-Out Panel-Level Packaging) technology, securing orders from European clients. AUO has focused on Micro LED research and development and has begun producing related products for Samsung.
Notably, to enhance supply chain diversification, brands like Samsung and LG have gradually reduced their reliance on mainland Chinese panel manufacturers, increasing their procurement from Taiwanese firms. This shift has brought Innolux and AUO new market opportunities.
Micro LED Technology Advancements
Chongqing Konka Optoelectronics has also made significant strides in the Micro LED field, achieving a near 99.999% yield with its novel laser mass transfer technology, capable of transferring over 36 million chips per hour. This breakthrough has unlocked a full industry chain, leading to the development of wearable devices, transparent displays, high-resolution AR displays, and other innovative products.
Companies like Tianma, Leyard, and Ledman Optoelectronics are also actively advancing the industrialization and commercialization of Micro LED technology. For example, Ledman Optoelectronics has successfully achieved small-batch trial production of PM drive glass-based Micro LED display panels and continues to explore and upgrade glass-based technology. Tianma has been working on Micro LED technology since 2017 and is expected to have small-batch production capabilities by the end of 2025, focusing on automotive display and video wall applications.
Market Trends and Investment Opportunities
With its high brightness, contrast, and transparency, Micro LED technology holds enormous potential for applications in transparent displays, automotive windows, AR-HUD, and P-HUD technologies. It is projected that by 2028, the global Micro LED chip market will reach nearly $600 million.
In 2024, the Chinese government introduced a series of policies, including the “Implementation Opinions on Promoting the Innovation and Development of Future Industries”, the “Guiding Opinions on Accelerating the High-Quality Development of the Audiovisual Electronics Industry”, and the “2023-2024 Action Plan for Stable Growth in the Electronics Manufacturing Industry”. These policies are aimed at vigorously promoting the development and innovation of the new display industry. With the dual support of government policy and technological advancements, 2025 is expected to bring more opportunities for innovation and growth in the new display industry, positioning it as a more crucial player in the global display market and paving the way for greater breakthroughs and leaps forward.
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