Demand for LCD TVs has soared in the last year, with the latest analysis suggesting shipments of the hardware are rising at a rate of 125 per cent.

According to DisplaySearch the flat panel display market is now poised for further expansion, as price and cost reductions help drive growth.

During 2004 prices for LCD TVs fell on average by 20 per cent, while the size of the average screen increased.

In heartening news for platinum producers, with the precious metal part of the fabrication process, the average LCD TV was found to be 12 per cent larger in the first quarter of 2005 than the previous year.

The market researchers identified China as one of the main drivers of global growth in the LCD market.

There shipments grew by over 400 per cent year on year, to a new record high of 200,000 units.

The European LCD TV market was the second biggest mover, with demand soaring by 188 per cent year on year.