Corning Incorporated has outlined its future strategy with increasing demand for liquid crystal display (LCD) television driving growth.

At New York's Mandarin Oriental Hotel, the speciality glass and ceramics manufacturer outlined how consumer demand for LCD televisions will lead to LCD glass market demand growing to nearly two billion square feet by 2008 with LCD TV penetration reaching 33 per cent of the global colour television market in 2007, and 45 per cent by 2008.

Global demand for LCD glass reached 1.2 billion square feet in 2006.

Peter Volanakis, Corning Chief Operating Officer, said: "We believe that by 2008, LCD glass demand for televisions alone will be nearly equal to the size of the entire glass market in 2006.

"The penetration rate of LCD television in North America should reach 61 per cent and in Japan, nearly 90 per cent by 2008. We also expect to see significant penetration of LCD TVs in the developing Chinese market. In fact, we believe that by 2010, the Chinese LCD TV market will be about the size of the North American market."

Grow the in the LCD market will also come as the size of screens increase, with the average LCD screen size hitting nearly 32 inches in the next year, from the current level of 28 inches as HDTV becomes ubiquitous.

Ÿ Adfero Ltd