ultra-thin glass market was valued at is projected to reach $16.9 billion by 2028, growing at a CAGR of 7.4% from 2021 to 2028.
Market Research Future (MRFR) presumes that the Ultra-Thin Glass Market is expected to reach USD 16.9 billion by 2028 at a rate of 7.4% over the assessment period (2021-2028).
Ultra-thin glass is one of the high-end glasses available in the market. It is a glass that is thinner than a single strand of human hair. Glass has many benefits than other popular materials. Materials such as metals, plastics, and silicon are smaller and are denser in size. However, thin glasses have Superior optical quality, consistency, thermal stability, and mechanical resilience. These benefits make thin glass exceptional than its competitors.
The global ultra-thin glass market is diversified into various categories. The segmentations are biotechnology, automotive, electrical sectors and applications. Today, thinner glass is suitable for many purposes. Especially creating Digital signs with thin glass is prevalent in many regions. Electronic paper, touch panel displays, and semiconductors are other popular segments in the market. The touch panel displays hold the highest shares in the market.
These electronics consumers require thinner touch panels that increase the quality of these products. 0.1 to 0.5 mm is a variation in the ultra-thin glass segment. From display panels, fingerprint sensors and other applications have surging demand. The ultra-thin glass is sensitive, conductive and highly flexible. Using thin glasses for biometric purposes is gaining a wide range of traction. They are thin but not fragile like low-quality glasses. The features and qualities of ultra-thin glasses attract many emend users. These trends in the market contribute to high ultra-thin glass market value.
The outbreak of covid 19 is changing the outlook of many global industries. Industries are halting their production operations as a result of the COVID-19. Prevalent lockdown diminish product demand and production in many regions. The need for safety and the need to slow down disease spread is a social responsibility of industries.
Supply chain problems are rising market issues. Due to the pandemic, demand for ultra-thin glass has decreased in Europe. The United States and North America regional players suffer losses. The majority of businesses are attempting to resume their operations by increasing production. Strengthening their supply networks will create slight improvements.
Newer waves of covid will cause more challenges in the market. Raw material scarcity and delays are disturbing the production. Disturbances in financial flows are affecting growth. The key end-user of the market that is the electronics industry is declining demand. However, post covid 19 scenario of the market seems positive.
Demand from the automotive industry will create high demand for the market. Automotive manufacturers are focusing to reduce the weight of their vehicles. This will improve fuel efficiency in transports. Glass is exceptional quality material used in automobiles. Glass in mirrors and other areas of the vehicles can increase weight.
To adopt new glasses the manufactures of the automotive industry prefer ultra-thin glasses. This can help them to reduce the overall weight of vehicles. The ultra-thin glasses are durable and flexible that is suitable for vehicles. They do not break easily than heavyweight glasses. These properties of ultra-thin glass will drive demand among automotive end-users.
Further, his rapid expansion of the semiconductor industry is a crucial driver of the market. There is favourable demand for in this sector. Strong growth of the semiconductor industry with the rapid rise in 5g technologies will positively impact the market. The growing demand in the market will create high ultra-thin glass industry.
The rising demand in the fitness devices sector will create high growth opportunities in the market. Today, top fitness brands use ultra-thin glasses on their equipment. Smartwatches and fitness bands use ultra-thin glasses. They are touch-sensitive and durable that makes them highly suitable for the market.
Today, fitness enthusiasts are growing. Need to be healthy is becoming important in the market. It is leading to high growth opportunities in the market. Research and development in the market will create more opportunities. The ultra-thin glass segments are taking research initiatives. The rise in investments is causing this trend in the market. The research will expand the product range of this market. Furthermore, significant developments in the science and technology of the electronics sector will provide growth opportunities. The ultra-thin is a appealing option for glassmakers.
Extensive research in display technology, tiny batteries, and flexible phones will increase adoption. Further, the ultra-thin glass industry may benefit from the rise of the semiconductor and solar energy industries. The growing demand in these markets will create favourable changes in the ultra-thin glass market. Also, revenue rates will widely increase for the market.
The ultra-thin glasses are durable and sturdy. However, the fact that ultra-thin glass can shatter in harsh situations. Overheating can cause this glass to shatter. Especially, this issue is prevalent in the electronics market. The devices can easily overheat and break. A great deal of care is required in the manufacturing of these ultrathin glasses. .
Demand from the end-users are reducing due to shattering and complication in manufacturing of the product. Also, high cost is a retaining factor of the market. Ultra-thin glasses are costlier than regular glasses. It creates various declines in demand and supply of the product.
Raw material price fluctuations are challenges in the market. The instability of raw materials prices can create challenges for the market. Stakeholders are facing losses and inconsistencies due to fluctuations. The cost associated with raw materials makes the total production cost high. Deviation in the price can severely impact the overall production cost.
The cost of the final product and other manufacturing costs are affected due to these reasons. The less awareness of ultra tin glasses in some regions is another major restraint. The ultra-thin glass is lacking awareness in developing markets.
Ultra-thin glass market trends are decent in the forecast period. There are plenty of factors that contribute to the growth of this market. Demand for the 0.1mm to 0.5 mm segment is surging. This 0.5mm ultra-thin glass is flat. Due to its smooth surface, and is heat resistance high growth is expected. It is widely used in smartphones, tablets, and LCDs. The float manufacturing segment of the market will hold the highest shares.
The float process includes adding additives and colourants to increase the chemical properties of the product. Also, crucial drivers such as demand from the electronics and automotive sectors will contribute to high demand. Also, restraints can cause various challenges in the market. High-cost decline demand in some regions. However, growth opportunities sustain overall growth.
Value chain analysis
Asia Pacific region will dominate overall ultra-thin glass markets shares. Developing economies such as China and Japan have high demand in the region. The presence of key players is expanding demand in the consumer electronics industry.
APAC holds the highest ultra-thin glass market share. China is expected to grow at an exponential pace. In APAC, it is the largest market for float ultra-thin glass. The huge usage of ultra-thin glass is leading to economic elopements. The need for ultra-thin glass drivers is consumer electronics and other end-use sectors, which are quickly developing.
Ultra-Thin Glass by Manufacturing Process
Ultra-Thin Glass by Thickness
Ultra-Thin Glass by Application
Ultra-Thin Glass by End-use Industry
The competition in the ultra-thin glass market is expected to surge in the forecast period. There are plenty of developments in the competitive landscape. Market expansions, mergers and collaborations are higher for the market.
The ultra-thin glass market is fragmented into three major key regions. Asia Pacific, Europe and North America are key regional players. The Asia Pacific has a high demand for the market in the forecast period. Demand from the automotive sector plays a crucial role. Also, high growth opportunities are available in chain, India and Japan.
The smartwatches and appliances market will have more demand. Growing orders for various consumer products and the technological device will create growth. The popularity of the e-commerce sector has been beneficial for the ultra-thin glass market in the region.
The key players of the ultra-thin glass market are
|Market Size||2028 : USD 16.9 Billion|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|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|
The global ultra-thin glass market is projected to grow at 7.4% CAGR during the review period (2021-2028).
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.
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.
Electrical & Electronics and Automotive are the major end-use industries for ultra-thin glass.