According to a new market research report published by Credence Research “Scratch Resistant Glass Market By Application (Smartphones, Tablets, LCD/LED, Automotive, and Others) and By Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global Scratch Resistant Glass market is set to grow with a CAGR of 7.9% throughout the forecast period to reach US$ 7,989.0 Mn by 2026.
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The overall scratch resistant glass market is set to exhibit robust growth over the forecast period. The superior surface quality, high strength, and scratch resistant features has increased its applications in advanced electronic devices. Glass being one of the most researched material, many manufacturers are moving towards glass innovation for various electronics and technologies. High-tech applications of scratch resistant glass are constantly increasing owing to its unique properties and usability. For instance, mirrors will be able to assess the health condition of the person standing front of it. High penetration of smartphone users in the developing regions, rising demand from smartphones and tablets application, growth in demand for premium consumer electronics owing to rising disposable income and changing lifestyles are among the key factors driving the scratch resistant glass market. Moreover, emerging demand from automotive and architecture & construction industries is estimated to propel the demand for scratch resistant glass market growth across the world. Industry players such as Corning is aggressively focusing on research and development of next generation glass that can give birth to innovative consumer electronic technologies. For example, Corning introduced gorilla glass 5 that raises the bar for protection higher than ever. Corning has gorilla 3 and 4 as well in the market that shows the focus and strength of product innovation.
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The scratch resistant glass market is segmented on the basis of application and geography. Based on application, the LCD/LED led the market, accounted for around 32% in terms of value in 2017. This is primarily due to the growing application of LED/LCD in consumer electronics devices such as TVs, personal computers, lights, etc. Based on geography, Asia-Pacific led the global scratch resistant glass market accounted for more than 34% of the total market value generated worldwide in 2017. Asia Pacific is also identified as the fastest growing region, primarily due to lower manufacturing costs coupled with less stringent government regulations in the region has led major OEM manufacturers to establish manufacturing bases in the region, thus driving the regional industry growth. The use of scratch resistant glass results in high price of end-use products and rising use of lamination and coatings in electronic devices as a substitute are some factors restraining the market growth.
The key players operating in the market include Corning Incorporated (U.S.), Asahi Glass (Japan), Nippon Electric Glass (Japan), Guardian Industries (U.S.), Saint-Gobain (France), Kyocera Group (Japan), and Schott Glass (Germany) among others. New product development and expansion are the major strategies implemented by key manufactures in the global scratch resistant glass market. For example, in 2016, Corning Incorporated, launched new flagship cover glass Gorilla Glass 5 with the aim of providing protection to devices from everyday drops.
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