The global ultra-thin glass market size is anticipated to reach USD 27.74 billion by 2025, according to a new report by Grand View Research, Inc. The industry is projected to advance at a healthy CAGR of 10.1% over the forecast period. The exponential growth of the semiconductor industry over the past few years, aided by numerous developments in the consumer electronics space, is a significant driver for the market growth. The demand for Ultra-Thin Glass is increasing in semiconductors on account of superior characteristics such as light weight and optimum performance as compared to its counterparts. Furthermore, this glass is bendable, which has increased the product interest in terms of offering new form factors for smartphones. Additionally, the ongoing investments in the semiconductor industry is likely to augment the product demand over the coming years. For instance, in April 2019, Samsung Electronics announced investment of around USD 114.8 billion by 2030 in the logic chips business, which is expected to aid the growth of the Ultra-Thin Glass market in the coming years.
The continued focus on harvesting renewable energy to power industrial and commercial sectors is also expected to advance the industry over the forecast period. Ultra-Thin Glass is gaining acknowledgement in the solar industry for manufacturing of solar panels. For instance, Leoflex, an Ultra-Thin Glass of thickness ranging from 0.85mm and 1.10mm produced by AGC, is extensively utilized for solar panels. According to the International Renewable Energy Agency, the solar photovoltaic capacity installations increased by 24.4% from 2017 to 2018 and is expected to grow by 50% from 2019 to 2024. The rising capacity installations are expected to positively impact the demand for solar panels, thus driving the market for Ultra-Thin Glass in the coming years. In the area of consumer electronics, the continued growth in demand for flat panel displays for television, as well as continued innovations in the manufacturing of laptops and smartphones, are expected to play a major hand in the industry advancement over the forecast period.
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Ultra-Thin Glass Market Report Highlights
• Ultra-Thin Glass plays a major role in electronics industry owing to its properties such as abrasion & corrosion resistance, flexibility, gas barrier capability, surface smoothness, and transparency, thus making them ideal for touch & display panels, electronic & optical sensors, energy storage devices, and semiconductors
•The continued improvements in the sales of smartphones and smartwatches are expected to offer numerous opportunities for the growth of the Ultra-Thin Glass industry. According to Counterpoint Research, smartwatch shipments increased by 6% in Q3 2020 when compared to Q3 2019, led by Apple, Huawei, and Samsung
•The semiconductor application segment is anticipated to register a CAGR of 10.3% in terms of volume, owing to rising utilization of Ultra-Thin Glass in the rapidly-developing areas of autonomous driving and internet of things over the coming years
•Asia Pacific is projected to be the fastest growing regional market at a revenue-based CAGR of 11.1%, owing to the localized presence of more than half of the global semiconductor and flat panel display fabrication plants; furthermore, improvements in the standard of living are also expected to drive regional growth
•Some of the established players in the Ultra-Thin Glass market include SCHOTT AG, Corning, AGC, Nippon Electric Glass, Xinyi Glass, and CSG Holding. The major competitive strategies undertaken by these companies include capacity expansion and new product development
•In July 2020, Nippon Electric Glass announced the development of an Ultra-Thin Glass with a polarizing film. The company partnered with Nitto Denko Corporation, utilizing their polarizing film to be combined with NEG’s G-Leaf Ultra-Thin Glass through a roll-to-roll process
•The prevailing COVID-19 pandemic across the globe has had a significant impact on the supply chain in the semiconductor and electronics industries, which subsequently impacted the demand and production of Ultra-Thin Glass for a significant part of 2020; the aforementioned industries are slowly getting back on track, which has created a healthy outlook for the market in the coming months
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Ultra-Thin Glass Market Segmentation
Grand View Research has segmented the global Ultra-Thin Glass market on the basis of application and region:
Application Outlook (Revenue, USD Million; Volume, Million Square Meters; 2014 – 2025)
• Flat panel displays
• Automotive glazing
Regional Outlook (Revenue, USD Million; Volume, Million Square Meters; 2014 – 2025)
• North America
• The U.S.
• Asia Pacific
• South Korea
• Central & South America
• Middle East & Africa
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About Grand View Research
Grand View Research is a market research and consulting company based in India and the US, and headquartered in San Francisco. The organization offers syndicated and customized research reports in 46 industries across 25 major global economies.
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