Ultra-Thin Glass Market Outlook, Research, Trends and Forecast to 2030
Market Scope
Market Research Future (MRFR) expects the Ultra-Thin Glass Market to attain a decent CAGR of 11.88%
between 2022 and 2030(analysis period).
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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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.
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 < 0.1 mm,
0.1–0.5 mm, 0.5–1.0 mm, 1.0–1.5 mm, and 1.5–2.0 mm.
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.
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.
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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.
In 2017, North America took the second lead
and managed to clock in USD 1527.4 million. It is anticipated the market size
in North America will record a CAGR of close to 11.48% during the evaluation
period. Intense growth of the e-commerce industry has benefitted the ultra-thin
glass market to a large extent, parallel to the surging orders for several consumer
goods as well as electronic devices. The well-established transportation and automotive
industry also elevates the demand for ultra-thin glass, with applications in automotive
displays and interiors.
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