Display and automotive lighting applications become LED growth highlights
Recently, the National Semiconductor Lighting Engineering R&D and Industry Alliance Industry Research Institute (CSA Research) released the 2016 LED Industry Quarterly Analysis Report, which comprehensively analyzes the first quarter of the 2016 LED industry from four aspects: policy, technology, industry and market. Development. According to CSA Research, after the market consolidation and the differential adjustment of various enterprises in the previous two years, the overall downstream has maintained growth, and display and automotive lighting applications have become the highlights of growth.
Although the performance of the display field in 2015 has declined from 2014, it is still the most outstanding segment. The annual report shows that the overall operating profit margin of the display panel is 12.3%, which is twice that of the middle and upstream sectors, and is also significantly higher than that of the lighting sector, and basically no loss-making enterprises, indicating that compared with other links and fields, the display size of enterprises survives. better.
In fact, with the maturity of small-pitch display technology, LED display technology not only occupies the traditional outdoor screen, but also begins to penetrate into the indoor display field. The emerging VR technology is emerging, and the prospect of LED micro-displays as part of its hardware industry is also optimistic in the industry.
According to the annual report, the operating profit margin of LED midstream companies has dropped from 11.1% in 2014 to 7.8% in 2015. Except for Changfang Group and Guangyu Electronics, the operating profit margins of other midstream companies have declined to varying degrees. As the LED industry gradually matures from the growth stage, the performance of the midstream declines, mainly in several aspects:
1) Competition has intensified and the price of device products has fallen. According to CSA Research, in the past six months (September 2015 to March 2016), the price of mainstream white light chips has dropped by more than 20%, and the import and export prices of LED devices have also dropped by 29% in the past year.
2) The structural overcapacity of production capacity, the growth rate of backlight and lighting demand are slowing down. Affected by this, Nisshin Group, SKC lighTIng, Samsung, LG and other companies have adopted the strategy of contracting LED business in the past two years. According to Gartner data, the global smartphone market growth rate is expected to be only 3.3% in 2015, and the growth rate of tablet terminal products shipments is negative. As a result, some of the backlight device companies' profits have declined significantly.
3) The integration of mergers and acquisitions is normalized, the polarization is intensified, and the transformation of various enterprises is busy. After the large number of M&A companies, such as Changfang Lighting, Wanrun Technology, and Guoxing Optoelectronics, the report performance improved. At the same time, Mulinsen, Guoxing Optoelectronics, and Changfang Lighting are also accelerating vertical integration, actively deploying chips and lighting. With the decline in profit margins, many companies turned to the new “Gao Li†market. Guoxing launched UV, infrared, and automotive series LEDs, Wanrun and Shida to transform digital marketing, and Jufei developed optical films. Mulinsen continued to focus on To reduce costs and increase the market share of products.
4) Since the second half of 2015, the penetration speed of OLED in the TV hand and machine market has obviously accelerated, which will impact the CSP launched by many enterprises, and the uncertainty of the future will be enhanced. According to AVC data, global OLED organic TV shipments will continue to rise sharply in 2015-2018, and will increase from 400,000 units to 1.3 million units in 2016 alone. The performance of the Chinese market is particularly outstanding, with a continuous growth rate of 400% in both 2016 and 2017.
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