The ultra-thin glass market was valued at US$ 6,139.56 million in 2020 and is projected to reach US$ 15,264.74 million by 2028; it is expected to grow at a CAGR of 11.5% from 2021 to 2028.
Hardened 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 consumer electronics, automotive, and medical and healthcare.
A few of the major key players operating in the global ultra-thin glass market are Corning Incorporated; AGC Inc.; Nippon Electric Glass Co., Ltd.; SCHOTT AG; Central Glass Co., Ltd.; CSG Holding Co., Ltd.; Emerge Glass ; Nippon Sheet Glass Co., Ltd; Xinyi Glass Holdings Limited; and Luoyang Glass Co., Ltd.
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. 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.
The fingerprint sensors are becoming increasingly important to secure the identification of smartphone users. Growing demand for smartphones and smartwatches further boosts the demand for ultra-thin glasses. Thus, the rapidly growing consumer electronic industry propels the demand for ultra-thin glasses.
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.
Based on manufacturing process, the ultra-thin glass market is bifurcated into float and fusion. Based on application, the market is segmented into semiconductor substrate, flat panel displays and touch control devices, automotive glazing, and others. Based on end-use industry, the market is segmented into consumer electronics, automotive, medical and healthcare, and others. By geography, the ultra-thin glass market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America.
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