According to Our latest research report on “Ultra-thin Glass Market ” highlights the substantial global expansion occurring within this sector. The report encompasses projections for the years leading up to 2031, accompanied by a comprehensive analysis of the market’s current size, prevailing trends, market share, and economic insights.
The global ultra-thin glass market was valued at $9.5 billion in 2019, and is projected to reach $16.6 billion by 2027, growing at a CAGR of 7.2% from 2020 to 2027. Ultra-thin glass is a high-end glass, which possesses thickness range below 1mm. It offers superior optical quality, temperature stability, chemical consistency, and mechanical resistance in all applications. It is widely used in the semiconductor industry for electronic application. Additionally, it is used in sensors and interior displays of various automotive. Increase in demand for various consumer electronics products, such as smartphones and LED TVs, is expected to drive the market growth over the forecast timeframe. Ultra-thin glass panel used in various consumer electronics reduces the overall weight of consumer electronics products.
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In order to be able to fulfill rising demand, the chemical industry invests billions of dollars each year in new and sustaining capital. Chemicals and materials are omnipresent in contemporary life, therefore major changes will be required for chemical makers to function in a changing geopolitical environment on a global scale, either proactively or reactively. Chemical firms will probably need to prepare for difficulties in the upcoming year, such as global inflation and oil price instability.
In addition, changing buying pattern and increasing disposable income of consumers increase the sale of automotive vehicles, which further enhances the market growth. Ultra-thin glass is widely used in car interiors and sensors. However, high cost of raw materials and availability of low-cost alternatives, such as plastics, may restrict the market growth. Nonetheless, surge in usage of ultra-thin glass in solar products is expected to create lucrative opportunities for the market players.
The global ultra-thin glass market is segmented on the basis of thickness type, application, and region. On the basis of thickness type, it is divided into <0.1mm, 0.1mm-0.5mm, and 0.5mm-1.0mm. Ultra-thin glass with thickness of 0.1mm-0.5mm accounted for significant revenue share, owing to rise in demand for touch panel display, fingerprint sensor, semiconductor substrate, and vehicle infotainment system. Based on application, it is categorized into consumer electronics, automotive & transportation, medical & healthcare, and others. The consumer electronics segment accounted for significant revenue share, owing to increase in demand for consumer electronics. Moreover, ultra-thin glasses are widely used in consumer electronics for applications such as displays and sensors. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with country level analysis of each region.
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COVID-19 scenario analysis
– The ultra-thin glass market has been severely impacted by the outbreak of COVID-19 across the globe.
– This is attributed to the decline in demand from the consumer electronics segment. As a large number of industries and commercial areas went under complete lockdown, the consumer electronics segment faced a significant drop in demand, thereby negatively impacting the market growth.
– In addition, social distancing norms led to decrease in sales of new automotive and electronics products.
– Furthermore, extended lockdown slowed down the production of ultra-thin glass due to limited resources and longer lead time to replenish raw materials.
– However, implementation of IoT and automation may reduce the need of labors wherever possible and increase operational efficiency. Automated packaging with smart robots can reduce the workers on shop floors, thereby maintaining social distancing norms.
Key benefits for stakeholders
– The global ultra-thin glass market analysis covers in-depth information of major industry participants.
– Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
– Major countries have been mapped according to their individual revenue contribution to the regional market.
– The report provides in-depth analysis of the global ultra-thin glass market forecast for the period 2020-2027.
– The report outlines the current global ultra-thin glass market trends and future estimations of the market from 2019 to 2027 to understand the prevailing opportunities and potential investment pockets.
– The key drivers, restraints, & market opportunity and their detailed impact analysis are explained in the study.
Major players have adopted product launch,collaboration, and acquisition to sustain the intense market competition. For instance, in March 2018, AGC developed an ultra-thin flexible cover glass with 0.07 mm thickness which is suitable for foldable devices. This expanded company’s product portfolio in foldable OLEDs market. Some of the key players profiled in the report include Corning Inc., AGC Inc., Nippon Electric Glass, Schott AG, Nippon Sheet Glass, CSG Holding, and Central Glass Co., Ltd.
Key market segments
– By Thickness type
– <0.1mm
– 0.1mm-0.5mm
– 0.5mm-1.0mm
– By Application
– Consumer Electronics
– Automotive & Transportation
– Medical & Healthcare
– Others
– By Region
– North America
o U.S.
o Canada
o Mexico
– Europe
o UK
o Germany
o France
o Italy
o Spain
o Rest of Europe
– Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Rest of Asia-Pacific
– LAMEA
o Brazil
o Saudi Arabia
o South Africa
o Rest of LAMEA
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Table of Contents:
- Introduction and Scope
- Definition and Forecast Parameters
- Methodology and Forecast Parameters
- Information Sources
- Latest Trends Summary
- Regional Trends
- Product Trends
- End-Use Trends
- Business Trends
- Industry Insights
- Industry Fragmentation
- Industry Landscape
- Vendor Matrix
- Technological and Innovative Landscape
- Market by Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
- Company Profiles
- Company Overview
- Financial Elements
- Product Landscape
- SWOT Analysis
- Systematic Outlook
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Key Questions the Report Discusses
- What essential elements emerged from both primary and secondary research?
- What will the market’s future potential be?
- Who examines the market report’s complete outcome?
- What obstacles and problems face the growth of an industry?
- What does supply chain analysis for products and market size, share mean?
- Which of the possible manufacturers is still operating in the market?
- What are the advantages, benefits, and applications of the product’s features?
- What are the main trends and influencing factors?
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