The global Ultra-thin Glass market was valued USD 11.2 billion in 2019. This market is expected to witness growth at a CAGR of 10.1 % for the period of 2020-2026
However COVID19 has made this market foresee decline for the year of 2020. Due to norms of lockdown and social distancing the supply of raw materials has been impacted. Due to disruption in supply, the production has been effected drastically, owing to decline in this sector.
For more details, visit: Global Ultra-Thin Glass Market By Manufacturing Process (Float, Fusion, others), By Thickness (<0.1 mm, 1-0.5 mm, Others), By End-User (Electrical and Electronics, Renewable Energy, Others), By Region–Forecast & Opportunities to 2026
The massive growth in electronic gadgets is the major driving factor for ultra-thin glass market. The use of smart phones, smart TV, LCDs, OLED, smart watch and solar panel is increasing. This gadgets use ultra-thin glasses as their one of the main component
Based on manufacturing process, ultra-thin glass market is segmented into Float manufacturing process, Fusion manufacturing process and Down-drop manufacturing process. Out of these segments the float manufacturing process segment is expected to witness highest growth over the forecast period in terms of volume and value. In float manufacturing process, raw materials such as borosilicate & soda lime are used to manufacture ultra-thin glass. In order to enhance physical and chemical properties additives are used.
On the basis of thickness this market is segmented into various thicknesses. Out of which the 0.1-0.5 mm thick ultra thin glass segment accounted for maximum growth during the forecast period. Ultra-thin glass of thickness 0.1-0.5 mm is used in fingerprint sensors, touch pane display, vehicle infotainment system and semiconductors etc. Due to increase in use of various smart devices this sector to grow significantly.
On the basis of End-User ultra-thin glass market is segmented into electrical & electronics, automotive, building & construction, bio-technology and renewable energy. The segment electrical & electronics accounted for maximum share and expected to grow at faster CAGR as compared to other sectors. Increasing use of electronics which involves sensors and touch panel drive this segment.
Asia-Pacific region is expected to grow at higher CAGR. This region accounted for maximum market share in ultra-thin glass market and it is projected to continue its dominance in this region. This region involves countries like China and Japan which have presence of major key player companies. China is expected to grow at a highest CAGR in this sector.
The key players in this sector are majorly focusing on developing a thin glass capable of performing well than rest. The companies are significantly acquiring or merging some small growing companies in order to strengthen their market presence.
The key player in ultra-thin glass market are Center Glass Co., Runtai industry Co., Aeon Industries, Corning Incorporated, Taiwan Glass IND., Nippon Electric Glass, Luoyong Glasss, Scott AG, Changzhou Almaden, Novaglass, Xinyi Glasss Holdings Ltd., Nitto Boseki, Ashi Glass Co., CSG holdings Ltd.
- What are the expected industry trends over the next three to five years?
- Which of the ultra-thin glass manufacturing process is likely to lead by 2025?
- Which of the end-user segments is expected to have the maximum potential to during the forecast period?
- Which region is going to have the highest smart meters market share by 2025?
- What are different organic and inorganic strategies implemented by companies to gain increased market share?