ultra-thin glass market Odyssey Charting a Course Towards Green Growth
Ultra-thin glass is a specialty glass that is less than 1 mm thick. It is widely used in display technologies for consumer electronics such as smartphones, tablets, laptops, and televisions. Glass being a rigid and chemically inert material offers advantages such as high mechanical strength, scratch resistance, and thermal stability. It serves as an ideal protective layer for displays. The growing demand for larger display sizes with narrow borders has boosted the need for ultra-thin flexible glass. Advancements in fabrication technologies have enabled the mass production of ultra-thin glass, contributing to reduced production costs.
The global ultra-thin glass market is estimated to be valued at US$ 20.33 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing demand from consumer electronics is one of the key drivers propelling the ultra-thin glass market growth. Manufacturers are continuously striving to develop smartphones, tablets, and other consumer devices with larger displays while keeping the device footprint small. This has amplified the need for ultra-thin flexible glass that can be easily integrated into the device design. Moreover, increasing screen sizes of televisions is also driving the consumption of ultra-thin glass sheets in the TV panel manufacturing process.
The rapidly growing consumer electronics industry worldwide owing to the rising disposable incomes, improving standards of living and changing lifestyles in emerging economies is fueling the sales of ultra-thin glass during the forecast period.
SWOT Analysis
The global ultra-thin glass market is estimated to be valued at US$ 20.33 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growing demand from consumer electronics is one of the key drivers propelling the ultra-thin glass market growth. Manufacturers are continuously striving to develop smartphones, tablets, and other consumer devices with larger displays while keeping the device footprint small. This has amplified the need for ultra-thin flexible glass that can be easily integrated into the device design. Moreover, increasing screen sizes of televisions is also driving the consumption of ultra-thin glass sheets in the TV panel manufacturing process.
The rapidly growing consumer electronics industry worldwide owing to the rising disposable incomes, improving standards of living and changing lifestyles in emerging economies is fueling the sales of ultra-thin glass during the forecast period.
SWOT Analysis
Strength: Ultra-thin glass has high mechanical strength and flexibility which allows easy handling. It offers excellent optical properties such as clarity and light transmission. Moreover, ultra-thin
glass reduces weight and thickness of consumer electronics devices.
Weakness: Ultra-thin glass has high production costs owing to complex manufacturing processes involved. Quality control during production is also challenging.
Opportunity: Rising demand for lightweight and durable cover glass and display in consumer electronics such as smartphones, laptops, and TVs presents an opportunity. Increasing investment by
manufacturers in R&D for advanced applications in automotive and solar energy industry will drive the market.
Threats: Stiff competition from alternative materials such as synthetic sapphire and plastic poses a threat. Fluctuating raw material prices and changing consumer preferences also impact the market.
Key Takeaways
The global ultra-thin glass market is expected to witness high growth. The market size is forecast to reach US$ 20.33 Bn by 2023, growing at a CAGR of 7.2% during the forecast period.
Regional analysis: Asia Pacific dominates the market currently and is expected to maintain its leading position over the forecast period. This can be attributed to rising electronics manufacturing in China, India, Japan and South Korea. Increasing demand for consumer electronics from a burgeoning middle class is fueling market growth.
Key players: Key players operating in the ultra-thin glass market are Corning Inc., AGC Inc., Schott AG, Nippon Electric Glass Co., Ltd., Central Glass Co., Ltd. Xinyi Glass Holdings Limited, AIR-CRAFTGLASS, NOVALGLASS, and Tawian Glass Group. They account for a major share of the market.
Key Takeaways
The global ultra-thin glass market is expected to witness high growth. The market size is forecast to reach US$ 20.33 Bn by 2023, growing at a CAGR of 7.2% during the forecast period.
Regional analysis: Asia Pacific dominates the market currently and is expected to maintain its leading position over the forecast period. This can be attributed to rising electronics manufacturing in China, India, Japan and South Korea. Increasing demand for consumer electronics from a burgeoning middle class is fueling market growth.
Key players: Key players operating in the ultra-thin glass market are Corning Inc., AGC Inc., Schott AG, Nippon Electric Glass Co., Ltd., Central Glass Co., Ltd. Xinyi Glass Holdings Limited, AIR-CRAFTGLASS, NOVALGLASS, and Tawian Glass Group. They account for a major share of the market.
