Home > Pressrelease > Ultra-Thin Glass Market size to exceed $ 25 billion by 2028
Ultra-Thin Glass Market size to exceed $ 25 billion by 2028
- Published Date: July 8, 2022
According to a new research report by Global Market Insights, Inc., the global Ultra-Thin Glass Market size to cross USD 25 billion by 2028
The market is witnessing a growing awareness of clean energy, which has a minimal impact on the environment. This has given rise to the use of solar panels for residential & commercial uses for energy production. The development of electronic items such as solar cells has accelerated in recent years and the demand for products with improved performance & usefulness has increased. One of the most common substrate materials for traditional displays and gadgets is ultra-thin glass with a thickness of less than 1 mm. As this form of glass offers exceptional flexibility, transparency, corrosion & abrasion resistance, surface smoothness, and gas barrier capabilities, it is utilized as a substrate in various devices that require these qualities.
For instance, according to the Solar Energy Industries Association (SEIA), in the U.S., solar has grown at a 33% yearly pace and there are currently more than 121 gigawatts (GW) of installed solar capacity countrywide, enough to power 23.3 million households.
Ultra-thin glass has various applications in consumer electronics and semiconductors due to its properties such as its utmost thinness. It is also scratch-proof and highly resilient. Furthermore, due to its bending properties together with flexibility, it permits new applications in mobility, architecture, and other industries. However, the production of ultra-thin glass is a complicated process and it affects the overall cost-efficiency of the product. There are three main processes involved in the production of ultra-thin glass: downdraw process, overflow-fusion process, and float process.
Fluctuating raw material prices are restraining the ultra-thin glass market growth over the forecast timeline. For instance, in the float process, raw glass materials such as borosilicate and soda-lime are used to manufacture ultra-thin glass. Additives such as refining, and colorants are also added to enhance the physical & chemical properties of the glass. These processes are complex and difficult to maintain the thickness of the glass, according to the end-use, making the overall costs rise.
Browse key industry insights spread across 250 pages with 443 market data tables & 29 figures & charts from the report, “Ultra-Thin Glass Market Size, By Thickness (Less Than 0.1 mm, 0.1 to 0.5 mm, 0.5 to 1.2 mm), By Production Process (Downdraw Process, Overflow-fusion Process, Float Process), By Application (Semiconductor Substrate, Flexible & Flat-panel Displays, Touch-control Devices), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 - 2028”, in detail along with the table of contents:
The flexible and flat-panel displays segment is expected to reach around USD 11 billion by 2028. Flexible & flat-panel displays refer to electronic displays that are used for displaying visual content such as images and texts. These displays are incorporated into medical, consumer, transportation, and industrial equipment. The use of display technology in various sectors, such as public transport, other public places, and the education sector, has also led to the increasing demand for ultra-thin glasses in the flexible & flat-panel displays segment. The increasing use of display devices in various platforms will propel the business expansion. Moreover, the increasing adoption of electronic devices in automobiles will highly contribute to the increasing market demand.
The 0.1 to 0.5 mm thickness segment to account for a considerable market share
The 0.1 to 0.5 mm thickness segment will grow at a CAGR of over 10.5% through 2028. Due to technological advancements, the industry is witnessing the increasing use of electronic equipment such as smartphones, car sensors, and fingerprint sensors. The 0.1 to 0.5 mm thickness ultra-thin glass is the most preferred for the protection of the above-mentioned electronic equipment screens.
Smooth surface and heat resistance are major properties contributing to the increasing adoption of this type of glass for protection, subsequently increasing its demand. Moreover, the rising application of 0.1 to 0.5 mm ultra-thin glass in semiconductor substrates, vehicle information systems, and biotechnological devices will propel the segment growth.
Key players in ultra-thin glass industry include Schott AG, Nippon Sheet Glass Co., Ltd., AGC Inc., Luoyang glass co., Ltd., Corning Inc., CSG Holdings Co. Ltd., Taiwan Glass Ind, Emerge Glass, Central Glass Co., Ltd., Xinyi Glass Holdings Ltd., Changzhou Almaden Co., Ltd., and Noval Glass Co., Ltd. In May 2020, Schott AG introduced New Xensation® Flex, flexible ultra-thin glass for foldable displays and flip phones.