Ultra-thin glass is increasingly finding applications in various consumer electronics such as smartphones, tablets, and laptops due to its light weight and shatter-resistant properties. Ultra-thin glass offers a thin, strong and durable substrate for electronic devices with glass-on-glass construction providing excellent optical properties equivalent to regular thickness glass. The global Ultra-Thin Glass Market is estimated to be valued at US$ 20.33 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key drivers propelling the ultra-thin glass market is the rising demand from the consumer electronics industry. Ultra-thin glasses are increasingly being used in consumer electronic devices like smartphones, tablets and laptops due to advantages like lighter weight and durability. Manufacturers prefer ultra-thin glasses as it allows building devices with glass-on-glass construction which provides good optical properties and touchscreen functionalities. The rising demand for thinner and lighter electronic devices is prompting electronics manufacturers to use ultra-thin glasses which is fueling market growth over the forecast period.
SWOT Analysis
- Strength: Ultra-thin glass has a very thin profile which makes products lighter and compact. Its thin, light weight properties enable new product designs.
- Weakness: The production of ultra-thin glass requires specialized manufacturing equipment and processes which increases costs. It is more fragile compared to regular glass and prone to breakage.
- Opportunity: Growing demand for lightweight and flexible electronics is driving the demand for ultra-thin glass in various applications like smartphones, tablets, wearables. The automotive industry presents new opportunities with increasing adoption in vehicle windows, displays and sensors.
- Threats: Stiff competition from alternative materials like plastics and polymers that serve similar purposes. Supply chain disruptions and geopolitical tensions pose threats in terms of disruption of raw material supply.
Key Takeaways
The global ultra-thin glass market is expected to witness high growth over the forecast period of 2023 to 2030 at a CAGR of 7.2% to reach a market size of US$ 20.33 Bn by 2024.
Regional analysis: Asia Pacific dominates the global market currently accounting for over 40% share owing to large consumption from China, Japan and South Korea. The region is expected to maintain its lead position driven by growing demand from electronics and automotive industries in China. North America and Europe are other major regions for ultra-thin glass on account rapid adoption in displays and wearable device applications in these markets.
Key players: Key players operating in the ultra-thin glass market are Corning Inc., AGC Inc., Schott AG, Nippon Electric Glass Co., Ltd., Central Glass Co., Ltd., Xinyi Glass Holdings Limited, AIR-CRAFTGLASS, NOVALGLASS, and Tawian Glass Group. These companies are focused on expanding production capacities and capabilities through investments in technology to cater to the emerging applications of ultra-thin glass.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
