Ultra-thin glass refers to glass sheets that are less than 0.5mm thick. It provides properties similar to regular glass such as optical transparency, load bearing capacity and scratch resistance. Ultra-thin glass finds wide applications in touch panels for smartphones, tablets and wearable devices owing to its light weight, thin profile and durable nature. The touchscreen panels made of ultra-thin glass deliver a smooth user experience while providing better edge-to-edge viewing experience compared to plastic panels. The increasing demand for larger and bezel-less display solutions by OEMs is a major driver for the ultra-thin glass market.
The Global Ultra-Thin Glass Market is estimated to be valued at US$ 13.4 Bn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Ultra-Thin Glass Companies vare Corning Inc., AGC Inc., Schott AG, Nippon Electric Glass Co., Ltd., Central Glass Co., Ltd., Xinyi Glass Holdings Limited, AIR-CRAFTGLASS and NOVALGLASS, and Tawian Glass Group. Corning Inc. and Schott AG held a dominant share of the ultra-thin glass market in 2021.
The rising demand for OLED displays owing to advantages like vibrant colors, high contrast and response times is expected to present growth opportunities for ultra-thin glass manufacturers. Additionally, increasing adoption of IoT devices and wearables will necessitate use of durable and flexible form factors enabled by ultra-thin glass panels.
Asia Pacific dominated the global ultra-thin glass market in 2021 owing to large presence of electronics manufacturers in China, Taiwan and South Korea. However, with increasing localization of production, Europe and North America are witnessing rising demand for ultra-thin glass from domestic electronics and automotive industries.
Market drivers
The growing demand for lightweight and compact consumer electronics with larger displays is a major market driver. Ultra-Thin Glass Market Growth helps achieve compact device footprints while enabling edge-to-edge viewing experience. The rising demand for virtual reality and augmented reality headsets requiring scratch resistant and optically clear display solutions will further contribute to market growth over the forecast period.
PEST Analysis
Political: The ultra-thin glass market is influenced by government regulations regarding environmental protection and emission standards. Regulations on hazardous materials usage would affect the manufacturing process of ultra-thin glass.
Economic: The global economic growth and expansion of end-use industries like electronics and automotive are fueling the demand for ultra-thin glass. Rising disposable income in developing nations also supplements market growth.
Social: Growing consumer preference for slim and lightweight electronic devices is a major social factor augmenting market opportunities. Ultra-thin glass helps in manufacturing devices with compact designs without compromising on performance.
Technological: Advancements in glass processing technologies allow manufacturers to develop ultra-thin glass substrates with thicknesses of less than 0.1mm. Newer technologies for glass strengthening and flaw detection facilitate mass production of high-performance ultra-thin glass.
Geographical regions where market in terms of value is concentrated:
The Asia Pacific region holds the largest share of the ultra-thin glass market currently owing to strong presence of manufacturing bases and huge consumer electronics industry in China, Japan, South Korea and other Asian countries. Government support to electronics sector in these nations also propels regional market growth.
The fastest growing region for the ultra-thin glass market:
Europe is projected to witness the highest CAGR during the forecast period driven by increasing adoption of ultra-thin glass in automotive and aerospace applications. Major glass manufacturers based in Germany, UK, France and Italy are strengthening their product portfolios to capitalize on opportunities in European countries.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)