Ultra-thin glass is extremely thin chemically strengthened glass that has a thickness ranging from 0.1 to 1.1mm. It offers superior features such as high strength, impact resistance, rigidity and transparency. Ultra-thin glass is increasingly being used in consumer electronics devices like smartphones, tablets and computing devices due to its lightweight and unbreakable nature.
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:
The rising demand for consumer electronics devices equipped with ultra-thin glass panels is a key trend propelling the growth of this market. Consumer electronics brands are increasingly incorporating ultra-thin glass panels in their devices to enhance durability while keeping weight and thickness at minimum. As consumers demand slimmer and lighter devices, the use of ultra-thin glass allows brands to deliver on those expectations without compromising on strength and quality. This growing focus on producing more durable yet slim consumer electronics will continue driving sales of ultra-thin glass in the coming years.
SWOT Analysis
- Strength: Ultra-thin glass has higher flexibility and is lighter in weight compared to ordinary glass. It offers innovative design options and improves user experience.
- Weakness: Ultra-thin glass is fragile and breaks easily. Mass production of ultra-thin glass is challenging and requires advanced precision manufacturing techniques.
- Opportunity: Growing demand for ultra-thin and lightweight materials from various industries such as consumer electronics, automotive and construction offers huge growth opportunities. Increasing investment in research and development of nano-materials will further expand the application scope of ultra-thin glass.
Threats: Stiff competition among existing players may lead to pricing pressure. Stringent quality standards and certifications regarding production processes pose significant compliance challenges.
Key Takeaways
The global ultra-thin glass market is expected to witness high growth over the forecast period of 2023 to 2030. Rapid advancement in manufacturing technologies and growing application in various end-use industries will drive the demand for ultra-thin glass.
Regional analysis: Asia Pacific dominates the global market and is expected to continue its lead over the forecast period. Growing electronic and automotive industries in China, Japan and South Korea are major demand generators in the region. North America and Europe hold notable shares and research & development investments are advancing application innovation.
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 and AIR-CRAFT GLASS. These players focus on new product development through technological innovations to cater to diverse application requirements and gain competitive advantage.