The global Ultra-Thin Glass Market is estimated to be valued at US$ 12.5 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 Overview:
Ultra-thin glass refers to glass with a thickness less than 0.5 mm. It offers advantages such as light weight and flexibility. Ultra-thin glass is increasingly being used in consumer electronics products such as smartphones and tablets due to its lightweight and unbreakable nature.
Market key trends:
One of the key trends in the ultra-thin glass market is the growing demand for foldable devices. Major smartphone manufacturers are focusing on developing foldable smartphones with ultra-thin flexible glass panels. This is attributed to the growing consumer preference for large screen mobile devices with extended functionality. However, deploying ultra-thin flexible glass at scale remains a challenge. Key companies are investing heavily in R&D to develop advanced manufacturing technologies required for mass production of foldable displays integrated with ultra-thin flexible glass.
SWOT Analysis
Strength: Ultra-thin glass is lightweight and flexible which makes it suitable for portable devices. It can be bent and curved into shapes which allows its use in devices with curved displays.
Weakness: Ultra-thin glass is fragile and breaks easily. It requires specialized manufacturing processes which increases production costs.
Opportunity: Growing demand for flexible displays in wearable devices, foldable smartphones and laptops offer huge growth opportunities for ultra-thin glass market. Increasing application in medical devices and aerospace industry also presents opportunities.
Threats: Stiff competition from flexible plastic films and competition from emerging inorganic materials that provide similar functionality pose threats. Fluctuation in raw material prices also affects market negatively.
Key Takeaways
The Global Ultra-Thin Glass Market Size is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing demand for flexible displays in consumer electronics. Ultra-thin glass allows manufacturing of devices with curved and flexible displays.
Regional analysis: Asia Pacific dominates the global ultra-thin glass market and is expected to continue its dominance, growing at a CAGR of over 8% during the forecast period. presence of consumer electronics manufacturing hubs and major players in countries like China, Japan, South Korea, and Taiwan drives the market in the region. North America and Europe are other major markets for ultra-thin glass.
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. Key players are focusing on developing improved manufacturing processes to reduce production costs and increase operational efficiency. They are also expanding their regional presence through partnerships and acquisitions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it