by The Ultra-Thin Glass Market is estimated to be valued at US$ 12.5 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 Overview:
Ultra-thin glass is a specialized glass with a thickness less than 0.5mm. It possesses properties such as high strength, light weight and flexibility. Due to these properties, ultra-thin glass is widely used in production of consumer electronics such as smartphones, tablets, televisions and monitors. It is also used as a cover glass or substrate in displays. Some key applications of ultra-thin glass include OLED displays, touchscreen panels and cover glass for flexible devices.
Market Dynamics:
The growth of the ultra-thin glass market is supported by rapid growth in demand for consumer electronics globally. Rising popularity of smart devices such as smartphones and tablets has significantly driven the demand for display panels. Since ultra-thin glass is widely used as a cover glass or substrate in displays, the display market growth is augmenting prospects in this market. Additionally, rising demand for flexible devices is also contributing to market growth. Ultra-thin glass enables flexibility and portability of devices. Its light weight property allows manufacturing of slim and stylish gadgets. These advantages are increasing preferability of ultra-thin glass over other conventional materials.
Segment Analysis
The Ultra-Thin Glass market is dominated by the display glass segment, accounting for over 60% share of the overall market. This segment encompasses the glass used in display panels of electronic devices like smartphones, tablets, laptops, TVs and others. The demand for ultra-thin, high strength and lightweight glass from the electronics industry to manufacture stronger and slimmer devices is driving the display glass segment’s dominance in this market.
PEST Analysis
Political: There are no significant trade barriers in the ultra-thin glass market across major regions. However, some regulations regarding the usage of toxic materials during glass manufacturing need to be followed.
Economic: The global electronics industry is growing rapidly which is positively impacting the demand for ultra-thin glass. Rising disposable incomes in developing nations are also increasing sales of consumer electronics.
Social: Small and portable electronic devices have become an integral part of people’s lives. This is generating demand for enhanced features, slimmer designs and longer battery lives – factors favoring usage of ultra-thin glass.
Technological: Glass thinning and strengthening technologies like fusion draw, slot draw and float processes have enabled production of damage resistant glass less than 0.1mm thick. This is driving widespread adoption of ultra-thin glass.
Key Takeaways
The Global Ultra-Thin Glass Market Size is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing proliferation of consumer electronics across the world. The Asia Pacific region dominates the ultra-thin glass market with over 40% share owing to strong electronics manufacturing base in China, Taiwan and South Korea.
By application, the display glass segment accounts for the major share as ultra-thin glass provides strength and transparency required for large and fragile display screens of smartphones, TVs, laptops and others.
Key players operating in the Ultra-Thin Glass market include 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. Leading players are focusing on R&D to develop new glass thinning technologies for applications in foldable displays, automotive and solar industries.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
