Omdia: Display Glass Revenue Hits Record JPY 270 Billion in Q3 2025

11/04/2025 – 07:05 PM

LONDON – Display glass manufacturers are seeing record revenues, hitting JPY 270 billion in the third quarter of 2025, according to a new report from Omdia. This figure represents a 5% increase quarter-over-quarter and a substantial 14% jump year-over-year, driven by a combination of rising prices and robust demand in the display market. The display glass trade continues to be primarily conducted in Japanese yen.

Quarterly display glass revenue

The strong quarterly performance signals a critical strategic recalibration within the display glass industry. Following a downturn in 2011 and a decade of fierce pricing competition, manufacturers are now prioritizing profitability over aggressive market share gains. This shift began to solidify around 2022. Key players such as Corning and AGC effectively spearheaded price increases throughout the latter halves of 2023 and 2024, with NEG following suit. As a result, display glass prices have surged by over 25% in the past two years, a significant boost to the bottom lines of these companies.

This new focus is also evident in how major glass producers are actively managing production capacity to better align with actual shipment volumes, a notable departure from pre-2022 practices where excess capacity was the norm. Given that glass production is capital-intensive and disruptions can lead to lengthy recovery periods, these manufacturers are increasingly wary of investing in new glass tanks, instead opting to optimize existing facilities. This includes strategies like increasing line speeds, improving production yields, and implementing energy-efficient practices to squeeze more output from existing infrastructure.

While established players refine their strategies, Chinese glass manufacturers are escalating their investments in new glass tanks. Having entered the display glass market around 2010, these companies initially focused on G5 glass production and quickly achieved a dominant position in the G5 a-Si market. Today, they are aggressively investing in G8.5 glass production capabilities. Though major glass makers currently hold a quality advantage, analysts anticipate that Chinese manufacturers will bridge the quality gap through long-term mass production efforts, potentially leading to expanded market share in the G8.5 segment over the next five to ten years. The implications for global pricing and competition could be significant.

Tadashi Uno, Research Manager at Omdia, notes, “As established glass makers potentially face market share erosion, their strategy appears oriented toward maximizing profitability now to build capital for ventures into new business domains.” This defensive and forward-looking approach is likely being driven by the need to hedge against the long-term competitive threat from China, as it is also funding research and development into higher-margin applications.

Indeed, major glass producers are actively exploring opportunities beyond traditional display glass, investing in materials and processes for the semiconductor industry and adjacent sectors. These initiatives include developing glass for through-glass vias (TGVs), semiconductor support glass, and hard disk substrates – all high-value areas with promising growth potential. This diversification is crucial for maintaining revenue streams and capitalizing on emerging technological trends.

Omdia’s analysis suggests that the display glass market is undergoing a fundamental transformation. The shift toward profitability represents a maturation of the industry, even as cost pressures from Chinese manufacturers and the exploration of new applications, promise to keep things interesting. Investors should keep a close eye on how incumbents balance short-term earnings with long-term strategic initiatives to maintain a competitive edge.

The analysis and data referenced in this article are based on Omdia’s latest research, offering in-depth market tracking and forecasting for the display supply chain.