Ultra-Thin Glass Market Foreseen to Grow Exponentially by 2028

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

NEW YORK, UNITED STATES, March 22, 2022 /EINPresswire.com/ -- The scope of The Insight Partners recent study on the “Ultra-Thin Glass Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Manufacturing Process (Float and Fusion), Application (Semiconductor Substrate, Flat Panel Displays and Touch Control Devices, Automotive Glazing, and Others), and End-Use Industry (Consumer Electronics, Automotive, Medical and Healthcare, and Others)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

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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.

Which region held the largest share of the global ultra-thin glass market?

In 2020, Asia Pacific held the largest revenue share of the global ultra-thin glass market and is also expected to register the highest CAGR during the forecast period. The ultra-thin glass market across the region is projected to witness remarkable growth, owing to the rapidly expanding consumer electronics industry in countries such as China, Japan, and South Korea. China is one of the largest consumer electronics markets across the world, along with Japan and South Korea. Due to the high concentration of consumer electronics manufacturers in Asia-Pacific, the demand for ultra-thin glass from the manufacturers of electronic goods across the region is expected to grow significantly over the forecast period. Moreover, China and Japan are the leading exporters of semiconductor components used in electronic gadgets. Many leading manufacturers of smartphones and electronic gadgets heavily rely on Asia-Pacific countries for sourcing semiconductor components. For chip packing and interposer applications, the semiconductor industry is progressively designing products using thin glass substrates. When organic substrate materials are employed, the locally generated heat of the small core parts of mobile devices causes deflection and reliability issues. Ultra-thin glass has excellent dimensional stability over a wide range of temperatures while also providing the foundation for an exceedingly flat chip package. Thus, the increasing utilization of ultra-thin glass for designing electronic goods across the region is projected to potentially drive the market over the forecast period.

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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 for manufacturing flat-panel display and for automotive glazing.

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 decline in the growth of the several sectors negatively impacted the demand for ultra-thin glass in the global market. However, as the economies are planning to revive their operations, the demand for ultra-thin glass is expected to rise globally in the coming years. Due to the pandemic, the adoption of remote work culture and online education is growing. Therefore, the demand for products such as laptops, smartphones, and other telecommunication devices is growing. 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.

Ultra-Thin Glass Market by End-Use Industry

Based on end-use industry, the ultra-thin glass market is segmented into consumer electronics, automotive, medical and healthcare, and others. The consumer electronics segment held the largest share of the market in 2020. Ultra-thin glass is widely used in the manufacturing of electronic products, such as flat panel displays and touch panel displays for various devices, such as LCDs, OLEDs, smartphones, and wearable devices. With the growing demand for innovative and technologically advanced electronic products across the world, the demand for ultra-thin glasses is expected to propel in the coming years.

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Sameer Joshi
The Insight Partners
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