Ultra-Thin Glass Market Research Report – Forecast to 2030

Ultra-thin Glass Market Information: By Manufacturing Process (Float, Fusion), By Thickness (< 0.1 mm, 0.1-0.5 mm), By Application (Touch Panel Display, Semiconductors) and By End-use Industry (Electrical & Electronics, Automotive) - Forecast till 2030

ID: MRFR/CnM/4483-CR | July 2018 | Region: Global | 212 pages

Market Overview


Market Research Future (MRFR) presumes that the Ultra-Thin Glass Market can project strong growth at a rate of 11.88% over the assessment period (between 2018 and 2024).


COVID-19 Analysis


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.


Market Dynamics


Drivers


Rapidly Mounting Demand for UTG in Automotive to Boost Growth


Over the years, the focus of automotive manufacturers has been on bringing down the weight of the automobiles they produce, to facilitate fuel efficiency. Glass is one of the essential materials used extensively in automobiles and has been subjected to the weight reduction trend. To cater to the evolving requirements, manufacturers are coming up with unique materials and products that can find applications in the automobile sector. This has highlighted the significance of ultra-thin glass in the automotive industry, and by extension, given a boost to the market growth. The rapid expansion of the semiconductor industry has also been favorable for product demand. Strong growth of the semiconductor industry in line with the striking rise in technologies like 5G and IoT has translated into substantial revenue generation in the ultra-thin glass industry.


The growth rate of the ultra-thin glass market size is mostly tied with a host of socioeconomic factors including rising disposable income combined with the amplified consumption of advanced consumer electronics. Rapid economic growth as well as the declining costs of a number of electronic products and components could also foster the ultra-thin glass market demand. Emerging popularity of touch control devices are some of the top ultra-thin glass market trends gaining prevalence, in wearable technologies as well as products like smart homes, refrigerators, smart cars and more.


Opportunities


Advancements in the Electronics Sector to Present Opportunities


Significant developments with respect to science and technology within the electronics sector will give rise to attractive opportunities for ultra-thin glass manufacturers. Rigorous researches in displays, thin batteries and bendable phones are likely to bolster the adoption rate of UTG in the electronics industry. Also, the growth of the semiconductor industry as well as the solar energy sector could be opportune for the ultra-thin glass industry in subsequent years.


Restraints


Easily Shattering Property of UTG to Weaken Demand


A restraint working against the market growth can be the fact that ultra-thin glass can easily shatter in adverse environments and therefore, require a lot of care. This weakens its demand in end-use industries that work in extreme conditions.


Challenges


Fluctuations in Raw Materials’ Price to Challenge Growth


Unstable prices of raw materials can give rise to challenges for market stakeholders in the coming years. A large portion of cost associated with raw materials makes for the total production cost, therefore, any deviation in the price can severely impact the overall production cost. This is bound to affect the final product’s selling price and emerge as a major challenge for the manufacturer.


Segment Overview


Float Segment to Dominate the Market


Various manufacturing processes considered in the report are fusion, down-draw and float. The float segment has been dominating the market since 2017 and had reached USD 3627.5 million. The segment is touted to soar at a rate of close to 13.03%, owing to ultra-thin float glass’s extensive use in various architectural and automotive windshield applications. Second in lead is the fusion manufacturing process segment, which can grow at an approximate rate of 11.58% during the conjectured period.


0.5–1.0 mm thickness segment lands the top position


Thickness-wise, the primary segments are < 0.1 mm, 0.1–0.5 mm, 0.5–1.0 mm, 1.0–1.5 mm, and 1.5–2.0 mm. The 0.5–1.0 mm thickness segment holds a share of 36% in the global market and could soar at a considerable rate in the ensuing years. The demand for UTG with this thickness is especially high for applications in laptops, tablets, smartphones, and various smart devices. But, an ultra-thin glass of 1.0–1.5 mm thickness can be the fastest advancing segment at a rate of 10.78% during the given period.


Applications in Microelectronics to Escalate Rapidly


Some of the main application areas of ultra-thin glass include solar mirrors, semiconductors, touch panel display, automotive glazing, fingerprint display, medical devices, lightweight assemblies, and others. The lead has been taken by the touch panel display segment, which can reach USD 6378.2 million by 2024. The semiconductors segment, on the other hand, could record the fastest expansion rate on account of its significant electrical insulation, dielectric and electrical conductivity properties.


Electrical and Electronics Industry to Generate Maximum Demand


Top end-use industries analyzed in the report are automotive, building and construction, electrical and electronics, renewable energy, biotechnology, and others. The electrical and electronics end-use industry has been the leading segment with the largest share of 48% since 2017 and can project a strong CAGR of 12.33% over the review period. The growth is the result of the escalating demand for various electronic devices in applications including medical devices, home appliances and vehicles. Meanwhile, the automotive end-use industry can be fastest progressing segment, while touching a valuation of USD 4553.7 million by 2024, thanks to the growing preference for fuel-efficient vehicles across the world.


Regional Analysis


Asia Pacific to take Massive Strides


The ultra-thin glass market size in Asia Pacific has remained the biggest since 2017 and can proceed to expand at a rate of approximately 12.57% in the coming years. The major factors responsible for the market growth in the region include the escalating demand for a variety of consumer electronics including smart watches, home appliances and smartphones. The increasing number of manufacturers moving from developed economies to the region, especially to India and China owing to high availability of lower-priced raw materials as well a cheap labor has benefited the ultra-thin glass industry. The market value is further bolstered by the robust presence of renowned firms like Nippon Sheet Glass and AGC Inc. in the region.


North America Ultra-Thin Glass Market Secures Second Lead


North America is the second-biggest gainer in the global market, having hit a valuation of USD 1527.4 million in 2017. The North American market is also anticipated to record a decent CAGR of approximately 11.48% over the evaluation period. The popularity of the e-commerce sector has been favorable for the ultra-thin glass market in the region, given the escalating orders for various consumer goods and electronic devices. The well-established automotive & transportation industry in the region also favors the market, since ultra-thin glass is extensively used in several automotive displays and interiors.


Competitive Landscape


Firms Focus on Joint Ventures for Widened Customer Base


A number of vendors are responsible for ultra-thin glass market growth, considering their involvement in vigorous R&D (research and development) activities paired with acquisitions as well as mergers with other firms and distributors to enhance their global presence. Most of the companies hold a substantial ultra-thin glass market share and are striving to expand their customer base by entering joint ventures with other players.


Nippon Electric Glass Co. Ltd. is an ultra-thin glass market company that focuses on developing highly innovative glassmaking technology and launching new advanced products. NEG has manufacturing facilities across Japan, which is its key base, while also establishing new plants across the globe. The company draws on its robust expertise to create new ultra-thin glasses of highest quality.


List of Key Companies Covered in this Report



  • Emerge Glass

  • Central Glass Co. Ltd.

  • RUNTAI INDUSTRY CO. LTD.

  • Corning Incorporated

  • Aeon Industries Corporation Ltd.

  • TAIWAN GLASS IND. CORP.

  • Nippon Electric Glass Co. Ltd.

  • Luoyang Glass Co. Ltd.

  • SCOTT AG

  • Changzhou Almaden Co. Ltd.

  • Novalglass

  • Xinyi Glass Holdings Limited

  • Nitto Boseki Co. Ltd.

  • Asahi Glass Co. Ltd.

  • CSG Holding Co. Ltd.


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.


Report Overview


The ultra-thin glass market type and analysis have been analyzed, while covering the top challenges, drivers and pitfalls that could impact the growth potential, along with the main categories and regions. The market has been critically analyzed, highlighting the base year, review period coupled with the projected value the global market during the given period. The market study has also focused on some of the major developments post the COVID-19 outbreak. Besides the extensive market segmentation, the report also outlines the ultra-thin glass market growth rate and the historical value as well, paired with technological developments, and the prominent factors inducing growth in the global market. Beside, some of the leading manufacturers and the competitive initiatives they follow are also profiled in the report.


Scope of the Report


The scope of the report outlines all the details regarding the ultra-thin glass industry, with respect to the manufacturing process, thickness, application, end-use industry and regions. Ultra-thin glass market size has been studied in the MRFR report, highlighting the expected value and the latest ultra-thin glass market trends prevailing in each of the key region. Ultra-thin glass market production at present and in the upcoming period is also evaluated in the MRFR report.


Segmentation Table


By Manufacturing Process



  • Float

  • Fusion

  • Down-draw


By Thickness



  • < 0.1 mm

  • 1–0.5 mm

  • 5–1.0 mm

  • 0–1.5 mm

  • 5–2.0 mm


By Application



  • Automotive Glazing

  • Lightweight Assemblies

  • Solar Mirror

  • Fingerprint Display

  • Medical Device

  • Touch Panel Display

  • Semiconductors

  • Others


By End-use Industry



  • Building & Construction

  • Renewable energy

  • Electrical & Electronics

  • Automotive

  • Biotechnology

  • Others



Report Scope:
Report Attribute/Metric Details
  Market Size   2030 : Significant value
  CAGR   CAGR of 11.88% (2022-2030)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Manufacturing Process, Thickness, Application , End-use Industry
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Emerge Glass,Central Glass Co. Ltd.,RUNTAI INDUSTRY CO. LTD.,Corning Incorporated,Aeon Industries Corporation Ltd.,TAIWAN GLASS IND. CORP.,Nippon Electric Glass Co. Ltd.,Luoyang Glass Co. Ltd.,SCOTT AG,Changzhou Almaden Co. Ltd.,Novalglass,Xinyi Glass Holdings Limited,Nitto Boseki Co. Ltd.,Asahi Glass Co. Ltd.,CSG Holding Co. Ltd.
  Key Market Opportunities   Advancements in the Electronics Sector to Present Opportunities
  Key Market Drivers   Rapidly Mounting Demand for UTG in Automotive to Boost Growth


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Frequently Asked Questions (FAQ) :


The global ultra-thin glass market is projected to grow at 11.88% CAGR during the review period (2018-2024).

Electrical & Electronics and Automotive are the major end-use industries for ultra-thin glass.

Focus on increasing energy generation using renewable sources would offer multiple growth opportunities for the market.

Asia Pacific holds the largest share in the global ultra-thin glass market followed by North America and Europe, respectively.

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 some of the leading players in the global ultra-thin glass market.

Competitive Landscape


The major players covered in the global ultra-thin glass market report are Corning Incorporated, ASAHI GLASS CO., LTD. Nippon Electric Glass Co., Ltd, SCHOTT AG, CSG Holding Co., Ltd., and Central Glass Co., Ltd.


In March 2018, ASAHI GLASS CO., LTD. developed an ultra-thin flexible cover glass that is suitable for foldable devices. With this launch, the company strengthened its product portfolio for ultra-thin glass. Asahi Glass Co., Ltd. manufactures and sells glass, electronics, chemicals, and ceramic products across the globe. The company offers tempered and laminated glass for automotive glass, substrates for thin film transistor liquid crystal displays, and OLEDs. It has a significant presence in Asia-Pacific, North America, South America, and Europe.


In January 2016, Corning Incorporated and Saint-Gobain Sekurit formed a joint venture to produce and sell lightweight automotive glazing solutions. This automotive glazing will reduce vehicle weight and improve fuel efficiency. Corning Incorporated manufactures specialty glass, ceramics, and related materials. The company operates through five business segments, namely, display technologies, optical communications, environmental technologies, specialty materials, and life science. The company has a significant presence in North America, Europe, Latin America, and Asia-Pacific.


In October 2014, Nippon Electric Glass Co., Ltd., a renowned manufacturer of ultra-thin glass, developed the world’s thinnest glass plate. Nippon Electric Glass Co., Ltd., along with its subsidiaries, manufactures specialty glass products and glass making machinery in Japan, China, Malaysia, South Korea, and Taiwan. The company provides glass substrates for use in flat panel displays and solar cells as well as for chemical strengthening purposes.


In December 2015, SCHOTT AG launched ultra-thin glass for mobile devices and IOTs. SCHOTT’s D 263 T product is scratch-resistant and bendable and is widely used in smartphones and other IOT devices. SCHOTT AG, a leading company in glass manufacturing, along with its subsidiaries is involved in the development and manufacturing of specialty glasses and glass ceramic in Germany as well as internationally. The company offers optical components, thin glasses, processed glass/architecture products, ZERODUR low expansion glass ceramics, optical filters, optical materials for applications in optics, lithography, astronomy, optoelectronics, architecture, life sciences, and research.


CSG Holding Co., Ltd. is involved in the research, development, manufacturing, and sale of glass products. The company operates through the solar energy, glass, electronic glass, and display segments. The glass segment manufactures float and engineering glass products and silica for the production of float and engineering glass products. The electronic glass and display segments manufacture ultra-thin electronic glass and display, and flexible touch panel display products. The company’s products are available primarily in Europe, Asia, and North America.