The ultra-thin glass market revenue will touch around USD 14.83 billion by 2019 from accounted for USD 33.45 billion in 2027 and is poised to grow at a CAGR of 10.7% between 2020 and 2027.
The demand for various consumer electronics items, such as smartphones and TVs, is rising as a result of the use of ultra-thin glass in electronic and optical sensors as well as in storage devices.
Market Overview:
Ultra-thin glass is high-end glass that is thinner than a human hair strand and has a minimum thickness of less than 1 millimeter. Ultra-thin glass has several desirable qualities, including abrasion and corrosion resistance, flexibility, surface smoothness, transparency, and the ability to act as a gas barrier. As a result, it is primarily appropriate for electronic and optical sensors, touch and display panels, semiconductors, energy storage devices, and organic electronics.
In the upcoming years, it is anticipated that rising demand for electronic gadgets, including monitors, smartphones, laptops, liquid crystal displays (LCDs), organic LEDs (OLEDs), and LEDs, will fuel the market for ultra-thin glasses.
Regional Insights:
The largest and fastest-growing market in this industry is in Asia Pacific, where consumers are increasingly coming from nations like China, India, Japan, and South Korea. China is home to roughly xx% of the world's flat panel display production facilities, while South Korea comes in second. To accommodate the rising demand from consumers, manufacturers of large LEDs and LEDs are expanding into these nations. The facility's primary focus is the manufacture of Gen 10.5 TFT substrates, which are produced using EAGLE XG Slim glass from Corning. This is also expected to support the market's expansion in the area.
On the other hand, over the forecast period, Europe is anticipated to have revenue growth at a CAGR of 6.5%. The demand for LCD screens, LEDs, renewable power, and automotive products is fueling the increase. Throughout the ensuing years, usage of the product is probably going to rise as a result. The region's renewable goal, according to Solar Power Europe, is to reduce greenhouse gas emissions by over 40%.
Due to this, some countries in the region, such as Germany, predicted that increasing their capacity for solar energy generation by around 8 GW would be necessary to meet the renewable energy goal.
Ultra-Thin Glass Market Report Scope:
| Report Coverage | Details |
| Market Size in 2019 | USD 14.83 Billion |
| Projected Forecast Value in 2027 | USD 33.45 Billion |
| Growth Rate | 10.7% from 2020 to 2027 |
| Largest Market | North America |
| Base Year | 2022 |
| Forecast Period | 2020 to 2027 |
| By Application |
Automotive Glazing |
| Regions Covered |
North America, Europe, Asia-Pacific, Latin America and Middle East & Africa |
| Companies Mentioned | Corning Incorporated, AGC Inc., CSG Holding Co., Ltd., SCHOTT AG, Nippon Electric Glass, Luoyang Glass Company, Xinyi Glass, Changzhou Almaden, Nippon Sheet Glass Co., Ltd, and Emerge Glass |
Report Highlights:
By Application
Automotive glazing, semiconductors, flat panel displays, and other industrial applications are divided into several categories according to ultra-thin glass. Flat panel displays held the largest category in the global ultra-thin glass market, accounting for a volume share of 40% in 2019. Consumer electronic devices such as LCDs and LEDs are the market-driven segment of this sector. The producers of TV panels are making significant investments in large-size screens. Due to its great ability to function and remain transparent at high frequencies, ultra-thin glass is primarily employed in chip packing and interposer applications in the semiconductor industry.
Some further applications are solar panels, organic electronics, and energy storage devices. New products used in organic electronics are sufficiently funded by the manufacturers in this market, as it is an internationally developing industry. To diversify its product range, AGC introduced a new product in May 2014 called SPOOL. Its ultra-thin sheet glass is utilized in flexible displays, organic LEDs, and touch screens.
Market Dynamics:
Drivers:
Rising consumer electronics demand and growing disposable income
Due to shifting lifestyles, rising disposable income, and rising interest in touch panel displays and other electronic products like smartphones and TVs, the market for ultrathin glass is growing on a global scale. On the other hand, the market's expansion is constrained by the high cost of production and raw materials as well as the availability of less expensive alternatives. Nonetheless, the market leaders predict that the increased use of ultrathin glass in solar products will present a wide range of prospects.
Enhancing the ultra-thin glass market's growth through changes in the consumer's lifestyle and increased discretionary income levels will drive automotive sales. Ultrathin glass is widely used in the interiors of cars as a decorative element, as well as door panels and sensors. Moreover, luxury automobiles and cars are seen as icons of social status in advanced countries like the United States, Canada, and Germany.
Restraints:
High-cost raw resources
Manufacturing ultra-thin glass is highly expensive due to the high cost of raw materials. For example, 50% of the cost of making a piece of ultra-thin glass is silver, which is the most expensive element used in the manufacturing process and is extracted from natural resources. In recent years, due to ups and downs in the economy, the raw material cost of production of sensors (ultra-thin glass) has instead increased.
Moreover, a significant problem exists in the fabrication of ultra-thin glass. For instance, the raw glass component used in the float technique produces ultra-thin glass using materials like borosilicate and soda lime. The chemical and physical characteristics of the glass are also improved by the application of additives like colours and refining. Depending on the intended use, they involve a challenging process that makes maintaining glass thickness difficult, raising the overall cost.
Opportunities:
Increasing automotive industry demand
Less than 100 microns thick, ultra-thin glass is a type of glass that is thinner than standard glass. It can be used for a variety of things, including consumer electronics, automotive glass, and architectural glass. In the automotive industry, displays and touchscreens are two potential applications for ultra-thin glass. Smart displays that can inform drivers and passengers as automobiles become more connected and autonomous have driven the demand of this market. In comparison to other materials, ultra-thin glass can have several benefits, including higher flexibility and durability, which can be crucial in automotive applications.
Additionally, windows and windshields are made of ultra-thin glass to lighten the vehicle and increase fuel efficiency. However, employing ultra-thin glass in these applications may present significant technical difficulties, such as problems with strength, durability, and safety. As a result, these ultra-thin glass-related variables have raised the market's CAGR globally in recent years.
Challenges:
Health disorders among workers
In the glass manufacturing process, the widely known health hazards include noise, exposure to respirable airborne particulates, especially silica (SiO 2), which has chronic effects such as decreased pulmonary function, complicated pneumoconiosis, lung disease, ergonomic risks, physical risks, radiant energy, and heat stress. The prevalence of chest, auditory, and heat-related symptoms was significantly higher in glass industry workers. They also exhibited poor spirometric readings and abnormal audiometric findings.
Recent Developments:
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