[Research Report] The ultra-thin glass market was valued at US$ 6,139.56 million in 2020 and is projected to reach US$ 15,264.74 million by 2028; it is expected to grow at a CAGR of 11.5% from 2021 to 2028.
Ultra-thin glass is those glass whose thickness is below 1–2mm.Chemical strengthening via ion exchange is commonly used to reinforce ultra-thin glass used for high-tech applications.Hardened ultra-thin glass is scratch-resistant and bendable up to a radius of a few millimeters. The properties of ultra-thin glass such as corrosion resistance, transparency, flexibility, excellent gas and water barrier, and high impact resistance make it suitable for various applications such as flat panel displays, automotive glazing, among others. In 2020, Asia Pacific held the largest revenue share of the global ultra-thin glass market. China is the largest consumer of ultra-thin glasses, accounting for more than 50% of the market share in Asia Pacific. The country is the major manufacturing hub for all types of consumer electronic products, such as smartphones and LCDs.
The ongoing COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the ultra-thin glass market.The implementation of measures to combat the spread of the novel coronavirus has aggravated the situation and has negatively impacted the growth of several sectors. Industries, such as automotive and consumer electronics, have been negatively impacted by the sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries. The decline in the growth of the several sectors negatively impacted the demand for ultra-thin glass in the global market. However, as the economies are planning to revive their operations, the demand for ultra-thin glass is expected to rise globally in the coming years. Due to the pandemic, the adoption of remote work culture and online education is growing. Therefore, the demand for products such as laptops, smartphones, and other telecommunication devices is growing. The expanding demand for ultra-thin glass in various industries, such as automotive and consumer electronics, along with significant investments by prominent manufacturers is expected to drive the growth of the ultra-thin glass market during the forecast period.
Global Ultra-Thin Glass Market, by Region 2020
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Market Insights
Growing Consumer Electronics Industry
The consumer electronics industry is booming due to the increasing usage of electronic appliances, such as smartphones, laptops, televisions, and other electronics products. Consumer electronic goods have become a necessity in the technological world. People from all generations are somehow dependent on their smartphones, smartwatches, and laptops. With the growing consumer electronics industry, manufacturers are continuously focusing on providing advanced and high-quality products. The ultra-thin glass plays an important role in the consumer electronics industry. It is used in touch and display panels, sensors, and camera systems. Various properties of ultra-thin glass such as corrosion resistance, transparency, flexibility, and gas barrier capability make it suitable for numerous applications in the consumer electronics industry. China dominates in the consumer electronic goods industry. The country is one of the prominent manufacturers of flat panel displays. There is a rapidly increasing demand for Chinese smartphones, fitness trackers, TVs, and other electronic goods, which provides lucrative opportunities to the manufacturers of ultra-thin glass. China has strengthened the construction of new infrastructure; promoted the construction of artificial intelligence, industrial internet, and the Internet of Things; and accelerated the pace of 5G commercialization, which boosts the electronic information manufacturing industry into a new development stage, and further promotes the high-end development of related industries. According to World Population Review, China has 1.6 billion cell phones users, and India has 1.28 billion cell phones users. In 2018, Apple clocked about 22.5 million shipments of the smartwatches. This number has increased from 2017, as the company sold 17.7 million units in 2017. In 2018, Fitbit shipped about 5.5 million units of smartwatches, whereas Samsung shipped about 5.3 million units. Thus, the rapidly growing consumer electronic industry propels the demand for ultra-thin glasses
End-Use Industry Insights
The consumer electronics segment held the largest share of the global ultra-thin glass market in 2020. Ultra-thin glass is widely used in the manufacturing of electronic products, such as flat panel displays and touch panel displays for various devices, such as LCDs, OLEDs, smartphones, and wearable devices. With the growing demand for innovative and technologically advanced electronic products across the world, the demand for ultra-thin glasses is expected to propel in the coming years.
Ultra-Thin Glass Market, by End-Use Industry – 2020 and 2028
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Manufacturing Process Insights
By manufacturing process, the fusion segment dominated the ultra-thin glass market in terms of revenue in 2020. The fusion process, often known as the overflow downdraw method, is widely used to manufacture flat ultra-thin glasses for display panels. Corning was the first company to create specialized glass that was suspended in mid-air, which is a key trait of the fusion method. Glass is not contacted by molten metal, which is a fundamental advantage of the fusion method over the float glass method.
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Ultra-Thin Glass Market: Strategic Insights
Market Size Value in US$ 6,139.56 Million in 2020 Market Size Value by US$ 15,264.74 Million by 2028 Growth rate CAGR of 11.5% from 2021-2028 Forecast Period 2021-2028 Base Year 2021
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Ultra-Thin Glass Market: Strategic Insights
| Market Size Value in | US$ 6,139.56 Million in 2020 |
| Market Size Value by | US$ 15,264.74 Million by 2028 |
| Growth rate | CAGR of 11.5% from 2021-2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Shejal will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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A few of the key market players operating in the ultra-thin glass market are Corning Incorporated; AGC Inc.; Nippon Electric Glass Co., Ltd.; SCHOTT AG; Central Glass Co., Ltd.; CSG Holding Co., Ltd.; Emerge Glass; Nippon Sheet Glass Co., Ltd; Xinyi Glass Holdings Limited; and Luoyang Glass Co., Ltd. Major players in the market are adopting strategies such as mergers and acquisitions and product launches to expand their geographic presence and consumer base.
Report Spotlights
- Progressive trends in the ultra-thin glass industry to help players develop effective long-term strategies
- Business growth strategies adopted by companies to secure growth in developed and developing markets
- Quantitative analysis of the global ultra-thin glass market from 2019 to 2028
- Estimation of the demand for ultra-thin glass across various industries
- Porter analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for ultra-thin glass
- Market trends and outlook coupled with factors driving and restraining the growth of the ultra-thin glass market
- Understanding regarding the strategies that underpin commercial interest with regard to global ultra-thin glass market growth, aiding in the decision-making process
- Ultra-thin Glass market size at various nodes of market
- Detailed overview and segmentation of the global ultra-thin glass market as well as its industry dynamics
- Ultra-thin Glass market size in various regions with promising growth opportunities
Ultra-Thin Glass Market, by Manufacturing Process
- Float
- Fusion
Ultra-Thin Glass Market, by Application
- Semiconductor Substrate
- Flat Panel Displays and Touch Control Devices
- Automotive Glazing
- Others
Ultra-Thin Glass Market, by End-Use Industry
- Consumer Electronics
- Automotive
- Medical and Healthcare
- Others
Company Profiles
- Corning Incorporated
- AGC Inc.
- Nippon Electric Glass Co., Ltd.
- SCHOTT AG
- Central Glass Co., Ltd.
- CSG Holding Co., Ltd.
- Emerge Glass
- Nippon Sheet Glass Co., Ltd
- Xinyi Glass Holdings Limited
- Luoyang Glass Co., Ltd
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Manufacturing Process, Application, and End-Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the ultra-thin glass market are Corning Incorporated; AGC Inc.; Nippon Electric Glass Co., Ltd.; SCHOTT AG; Central Glass Co., Ltd.; CSG Holding Co., Ltd.; Emerge Glass; Nippon Sheet Glass Co., Ltd; Xinyi Glass Holdings Limited; and Luoyang Glass Co., Ltd.
In 2020, Asia Pacific held the largest revenue share of the global ultra-thin glass market and is also expected to register the highest CAGR during the forecast period. The ultra-thin glass market across the region is projected to witness remarkable growth, owing to the rapidly expanding consumer electronics industry in countries such as China, Japan, and South Korea. China is one of the largest consumer electronics markets across the world, along with Japan and South Korea. Due to the high concentration of consumer electronics manufacturers in Asia-Pacific, the demand for ultra-thin glass from the manufacturers of electronic goods across the region is expected to grow significantly over the forecast period. Moreover, China and Japan are the leading exporters of semiconductor components used in electronic gadgets. Many leading manufacturers of smartphones and electronic gadgets heavily rely on Asia-Pacific countries for sourcing semiconductor components. For chip packing and interposer applications, the semiconductor industry is progressively designing products using thin glass substrates. When organic substrate materials are employed, the locally generated heat of the small core parts of mobile devices causes deflection and reliability issues. Ultra-thin glass has excellent dimensional stability over a wide range of temperatures while also providing the foundation for an exceedingly flat chip package. Thus, the increasing utilization of ultra-thin glass for designing electronic goods across the region is projected to potentially drive the market over the forecast period.
Based on application, flat-panel display segment is expected to grow at the fastest CAGR from 2021 to 2028. Flat panel displays are video devices that replace the conventional cathode ray tube (CRT) with a thin panel design. Ultra-thin glass is widely used to manufacture flat panel displays such as LCD, LED, OLED screens, smartphone displays, and monitor screens. Moreover, ultra-thin glass is used in the touch module of touch screen devices such as smartphones, tablets, and laptops. It provides fundamental functions for flat-panel display and touch screen devices such as high definition (HD) display, touch-control and scratch resistance, and protection to the screens. Consumer electronic goods are being upgraded at a faster rate as the technological landscape is changing rapidly. Panel display components used in flat-panel display and touch-control devices have emerged as the most important downstream application products for ultra-thin glass substrates with the highest market demand. The need for ultra-thin glass substrate is predicted to rise since it is a crucial component and key fundamental material for flat-panel display and touch-control systems. Moreover, ultra-thin glass substrates are non-substitutable and have a promising future as the entire electronic device market develops.
On the basis of manufacturing process, fusion segment is leading the ultra-thin glass market during the forecast period. The fusion process, often known as the overflow downdraw method, is widely used to manufacture flat ultra-thin glass for display panels. Corning was the first company to create specialized glass that was suspended in mid-air, which is a key trait of the fusion method. Glass is not contacted by molten metal, which is a fundamental advantage of the fusion method over the float glass method. The raw materials, including pure sand and other inorganic elements, are fed into a massive melting tank that is heated to temperatures beyond 1000â° Celsius. The molten glass is homogenized and conditioned before being discharged into an isopipe, a huge collection trough with a V-shaped bottom. The isopipe is carefully heated to ensure optimum viscosity of the mixture and consistent flow. The molten glass flows uniformly over the isopipe's top edges, generating two thin, sheet-like streams along the outer surfaces. The two sheets meet at the bottom of the isopipe and are fused into a single glass sheet. As the sheet lengthens and cools in mid-air, it feeds into drawing equipment while still linked to the bottom of the isopipe. With precise control of the fusion glass process parameters, thinner glass panels can be produced. Commercial manufacturers such as Corning, Schott, AGC, and Nippon Electric Glass use the drawdown or fusion process for producing ultra-thin glass.
Based on end use, consumer electronics segment led the global ultra-thin glass market during the forecasted period. Consumer electronics is one of the prominent end-use industries contributing a major share in the growth of the ultra-thin glass market. Ultra-thin glass is widely used to manufacture electronic goods such as flat panel display devices, smartphones, wearable devices, and touch screen devices. It is extremely thin and flexible. Therefore, it is ideal for devices with wider displays and touch screen features. Moreover, it is used in microprocessors of smartphones as a substrate. Using ultra-thin glass in semiconductor substrates ensures the increased performance of microprocessors, which enables high data transfer rates. The growing utilization of ultra-thin glass in consumer electronic devices is expected to boost the market growth. Moreover, the rising demand for electronic gadgets such as smartphones, laptops, tablets, and televisions in emerging economies, owing to rise in disposable income, significant economic development, increase in adoption of emerging technologies, and improved lifestyles of people, is expected to boost the growth of global ultra-thin glass market in the coming years. Manufacturers of ultra-thin glass are focusing on launching innovative products. Recently, foldable ultra-thin glass was developed by Schott AG which is a Germany-based manufacturer of specialty glass products. This foldable glass was used by Samsung in its Z-fold 3 smartphone which is gaining huge popularity among people worldwide. Such innovations by the prominent manufactures of ultra-thin glass are expected to boost the consumer electronics segment’s growth.
Asia-Pacific is estimated to register the fastest CAGR in the market over the forecast period. The rising demand for LED and OLED televisions is boosting the market growth across the region. Manufacturers of flat panel displays in China, South Korea, and Taiwan are dominating the global marketplace in terms of production and supply of flat panel displays. These displays can be found in cars, industrial equipment, personal computers, smartphones, and a variety of other goods. Liquid crystal displays are used in the majority of TV screens (LCDs). Other display types used in televisions include organic light-emitting diodes (OLEDs) and quantum dots. LCDs and OLEDs are used in smartphone displays. Thus, the high concentration of flat panel display manufacturers in Asia-Pacific, coupled with the high utilization of ultra-thin glass in designing flat panel displays, is the crucial factor anticipated to further drive the market in the coming years. Furthermore, the growing application of ultra-thin glass by automobile manufacturers in China, India, and South Korea is driving the market. China, as one of the significant producers of automobiles, has a high need for ultra-thin glass for use in various automotive interior panels. Furthermore, the existence of significant players such as AGC Inc. and Nippon Electric Glass Co., Ltd is projected to fuel the market expansion.
The List of Companies - Ultra-thin Glass Market
- Corning Incorporated
- AGC Inc.
- Nippon Electric Glass Co., Ltd.
- SCHOTT AG
- Central Glass Co., Ltd.
- CSG Holding Co., Ltd.
- Emerge Glass
- Nippon Sheet Glass Co., Ltd
- Xinyi Glass Holdings Limited
- Luoyang Glass Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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