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Strong demand for panels boosts Taiwan optoelectronics industry

Taiwan's optoelectronics industry in the first half of 2021 shows strong growth, compared to the same period in 2020, due to the large-scale stimulus plans from major economies and the steady global economic demand. Among the optoelectronic industry, panels have increased the most, because of the stay-at-home economy and shortage of raw materials and components, which have stimulated the increase in panel price.

Taiwan-based makers of optoelectronic products recorded a total production value of NT$808.1 billion (US$28.9 billion) for the first half of 2021, increasing 26.4% on year, according to the Photonics Industry & Technology Development Association (PIDA).

In the first half of 2021, the production value of displays in Taiwan, including panels, backlight modules, touch panels, and digital paper, was NT$529.6 billion, growing 36.4% on year, according to PIDA.

In addition, along with the global investment in emerging technologies such as 5G, artificial intelligence, remote services, and autonomous driving, the demand for laser, optical communications, and sensors, used in automotive lenses will be expected to grow.

Green energy, mini/microLED applications, and the demand for new mobile phones in the second half of the year will also enable the growth of industries such as panels, LED lighting, solar photovoltaics, and precision optics, in the second half of 2021, PIDA indicated.

It is worth noting that factors, like US-China tensions, tight global freight, rising raw material prices, and the future development of the pandemic, will directly affect Taiwan's optoelectronics industry, in the second half of 2021.