Ultra-Thin Glass Market Demand, Business Growth, Regional Outlook and Future Insights by 2030 | SCOTT AG, Nippon Electric Glass, Taiwan Glass
Research Reports
Mar 24, 2022
Market Research Future (MRFR) expects the ultra-thin glass market to attain a decent CAGR of 11.88?tween 2022 and 2030 (analysis period).
In response to the COVID-19 outbreak and the subsequent lockdown, firms have had to pause their production processes, in view of the weakened product demand, the need to maintain the safety of employees and disruptions in supply chain, amidst the rising SARS-CoV-2 cases. In Germany, the US, Spain, Italy and France, the demand for ultra-thin glass has dropped following the pandemic. Thus, most of the firms are working on reviving their operations by strengthening their supply chains while seeking tactics to deal with the challenges thrown by the novel coronavirus.
Affluent Market Firms
SCOTT AG, Nippon Electric Glass Co. Ltd., Taiwan Glass Ind. Corp., Nitto Boseki Co., Ltd., Corning Incorporated, Emerge Glass, Central Glass Co., Ltd., Luoyang Glass Co. Ltd., Xinyi Glass Holdings Limited, Aeon Industries Corporation Ltd., Asahi Glass Co., Ltd., Changzhou Almaden Co. Ltd., Runtai Industry Co. Ltd., CSG Holding Co. Ltd., and Novalglass, are the market leaders profiled in the MRFR study.
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Major Drivers and Main Challenges
Automotive manufacturers are primarily focused on reducing the overall weight of automobiles as it helps elevate the fuel efficiency. Glass, being an essential material in automobiles, can facilitate the vehicle weight reduction trend. To meet with the mounting requirements, manufacturers are introducing unique products and materials with multiple applications within the automobile industry. This has shed light on ultra-thin glass’s importance in the automotive industry and has resulted in extensive demand. The stunning growth of the semiconductor industry in recent years has also intensified the product demand. In addition, the vast adoption of advanced technologies such as 5G and IoT in the manufacturing processes can also benefit the ultra-thin glass industry over the following years.
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A few socioeconomic factors such as escalating disposable income and heightened consumption of consumer electronic goods also work in favor of the worldwide market. Notable economic growth and the drop in the costs of electronic products as well as components, especially in developing countries will also bolster the demand for ultra-thin glass. The significant popularity of touch control devices should present opportunities to ultra-thin glass manufacturers, while the soaring prevalence of wearable technologies and smart homes, smart car, refrigerators, should be favorable as well.
Market Segmentation
Manufacturing process, thickness, application, and end-use industry are the major segments outlined in the MRFR market study.
The manufacturing processes considered are down-draw, fusion, and float. The float segment is in the lead and captured a valuation of USD 3627.5 million in the year 2017. The segment could continue to grow at a rate of around 13.03% from 2020 to 2027, since ultra-thin float glass is widely deployed in a variety of automotive and architectural windshield applications. Second position has been secured by the fusion manufacturing process segment, which is touted to attain an approximate growth rate of 11.58% in the years to come.
Thickness-based segments are
Key applications of ultra-thin glass are semiconductors, lightweight assemblies, solar mirrors, automotive glazing, touch panel display, medical devices, fingerprint display, and others. The touch panel display segment is at the top and can touch USD 6378.2 million by 2027. The semiconductors segment will manage to achieve the fastest CAGR given its impressive dielectric, electrical conductivity, and electrical insulation properties.
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Major end-use industries include automotive, electrical and electronics, building and construction, biotechnology, renewable energy, and more. The electrical and electronics segment is the top end-user in the global market and seized the highest share of 48% in the year 2017. The segment could also grab a healthy CAGR of 12.33%, on account of the amplified demand for several electronic devices in use-cases including home appliances, vehicles, and medical devices. On the other hand, the fastest growing segment will be the automotive end-use industry, which could also reach USD 4553.7 million by 2027, due to the mounting need for fuel-efficient vehicles worldwide.
Conductive Inks Market Key Regions
North America, APAC/Asia Pacific, along with Europe and RoW/Rest of the World are the key regions where the ultra-thin glass industry is projected to expand at varying rates between 2020 and 2027.
The APAC market for ultra-thin glass is of the biggest size, as reported in 2017. It is presumed that the market size in the region will continue to soar at an approximate rate of 12.57% during the appraisal period, in view of the rampant demand for various consumer electronics such as smart watches, smartphones and home appliances. The burgeoning consumer electronics industry in the region, especially in China is the result of the rise in disposable incomes of the consumers and the general economic growth. Global players shifting from developed nations to Asia Pacific, due to the abundance of lower priced raw materials along with cheap labor will further enhance the market share of ultra-thin glass. The APAC market is further bolstered by reputed manufacturers such as AGC Inc. and Nippon Sheet Glass present across the region.
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Recent Developments
- August 2020 – SCHOTT has released its most ultra-thin flexible glass yet, Xensation Flex, which has a thickness lesser than a human hair and bending radius lower than 2 mm after processing. Other than flexibility, Xensation Flex also has the ability to be chemically toughened.
- February 2020 – Samsung Display has become the first firms in the global industry to have commercialized ultra-thin glass, which is only 30 micrometers thick. The UTG has been developed in collaboration with Dowoo Insys and has been made using an intense process to bolster its durability and flexibility.
Table of Content
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 The Scope Of The Study
2.3 List Of Assumptions
2.4 Limitations
2.5 Market Structure
3 Market Insight
3.1 Key Takeaways
4 Research Methodology
4.1 Research Process
4.2 Primary Research
4.3 Secondary Research
4.4 Market Size Estimation
4.5 Forecast Model
5 Market Dynamics
5.1 Introduction
5.2 Drivers
5.2.1 Increasing Demand For Electronic Products
5.2.2 Expanding Automotive Industry
5.2.3 Continuous Growth Of Healthcare Industry
5.3 Restraint
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