Ultra-Thin Glass Market Size to Rake US$ 15,264.74 Mn by 2028

Ultra-Thin glass market expected to grow at a CAGR of 11.5% by 2028. The consumer electronics segment held the largest share of the global market in 2020.

NEW YORK, UNITED STATES, November 24, 2021 /EINPresswire.com/ -- According to our latest market study on “Ultra-Thin Glass Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Manufacturing Process, Application, and End-Use Industry” the market was valued at US$ 6,139.56 million in 2020 and is projected to reach US$ 15,264.74 million by 2028.

Strategic Insights

Market Size Value in - US$ 6,139.56 Million in 2020
Market Size Value by - US$ 15,264.74 Million by 2028
Growth rate - CAGR of 11.5% from 2021-2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 161
No. Tables - 83
No. of Charts & Figures - 77
Historical data available - Yes
Segments covered - Manufacturing Process, Application, and End-Use Industry
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Ultra-thin glass is those glass whose thickness is below 1–2mm. Chemical strengthening via ion exchange is commonly used to reinforce ultra-thin glass used for high-tech applications. Hardened ultra-thin glass is scratch-resistant and bendable up to a radius of a few millimeters. The properties of ultra-thin glass such as corrosion resistance, transparency, flexibility, excellent gas and water barrier, and high impact resistance make it suitable for various applications such as flat panel displays, automotive glazing, among others.

Growing consumer electronics industry driving growth of global ultra-thin glass market

The consumer electronics industry is booming due to the increasing usage of electronic appliances, such as smartphones, laptops, televisions, and other electronics products. Consumer electronic goods have become a necessity in the technological world. People from all generations are somehow dependent on their smartphones, smartwatches, and laptops. With the growing consumer electronics industry, manufacturers are continuously focusing on providing advanced and high-quality products. The ultra-thin glass plays an important role in the consumer electronics industry. It is used in touch and display panels, sensors, and camera systems. Various properties of ultra-thin glass such as corrosion resistance, transparency, flexibility, and gas barrier capability make it suitable for numerous applications in the consumer electronics industry. China dominates in the consumer electronic goods industry. The country is one of the prominent manufacturers of flat panel displays. There is a rapidly increasing demand for Chinese smartphones, fitness trackers, TVs, and other electronic goods, which provides lucrative opportunities to the manufacturers of ultra-thin glass. China has strengthened the construction of new infrastructure; promoted the construction of artificial intelligence, industrial internet, and the Internet of Things; and accelerated the pace of 5G commercialization, which boosts the electronic information manufacturing industry into a new development stage, and further promotes the high-end development of related industries.

Impact of COVID-19 on Ultra-Thin Glass Market:

The ongoing COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the ultra-thin glass market. The implementation of measures to combat the spread of the novel coronavirus has aggravated the situation and has negatively impacted the growth of several sectors. Industries, such as automotive and consumer electronics, have been negatively impacted by the sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries. The expanding demand for ultra-thin glass in various industries, such as automotive and consumer electronics, along with significant investments by prominent manufacturers is expected to drive the growth of the ultra-thin glass market during the forecast period.

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Ultra-Thin Glass Market: Application

Based on application, the ultra-thin glass market is segmented into semiconductor substrate, flat panel displays and touch control devices, automotive glazing, and others. In 2020, the flat panel displays and touch control devices segment dominated the market. Flat panel displays are video devices that replace the conventional cathode ray tube (CRT) with a thin panel design. Ultra-thin glass is widely used to manufacture flat panel displays such as LCD, LED, OLED screens, smartphone displays, and monitor screens. Moreover, ultra-thin glass is used in the touch module of touch screen devices such as smartphones, tablets, and laptops. It provides fundamental functions for flat-panel display and touch screen devices such as high definition (HD) display, touch-control and scratch resistance, and protection to the screens. Consumer electronic goods are being upgraded at a faster rate as the technological landscape is changing rapidly. Panel display components used in flat-panel display and touch-control devices have emerged as the most important downstream application products for ultra-thin glass substrates with the highest market demand.

Ultra-Thin Glass Market: Competitive Landscape and Key Developments

Corning Incorporated; AGC Inc.; Nippon Electric Glass Co., Ltd.; SCHOTT AG; Central Glass Co., Ltd.; CSG Holding Co., Ltd.; Emerge Glass; Nippon Sheet Glass Co., Ltd; Xinyi Glass Holdings Limited; and Luoyang Glass Co., Ltd. are among the major players operating in the global ultra-thin glass market.

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