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.
Ultra-thin glass is defined as having a thickness of less than 0.5 mm. It is lighter and more flexible when compared with conventional glass. Due to this, it is increasingly being used in touchscreens for smartphones, tablets, and other consumer electronic devices. It provides robustness and touch sensitivity without comprising on productivity or aesthetics. The market is mainly driven by increasing demand from the consumer electronics industry for manufacturing portable devices such as smartphones, tablets, laptops, and wearable devices.
Market key trends:
One of the key trends in the ultra-thin glass market is the rising demand for foldable displays. Manufacturers are focusing on developing ultra-thin flexible glass substrates that can be folded without damage. This has increased the application of ultra-thin glass in next-generation foldable OLED displays for smartphones and tablets. Another major trend is the growing utilization of ultra-thin glass in emerging industries such as automotive, aerospace, and medical devices. Properties such as lightweight, flexibility, and robustness have increased its adoption in manufacturing displays for in-vehicle infotainment systems and connected cars.
Threat of new entrants: The threat of new entrants is moderate as the glass manufacturing requires high capital investments and technology which acts as a entry barrier. However, growth in several end use industries can attract new players in the market.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of several options from key players operating in the market. Buyers can negotiate on price and demand better quality products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used in glass manufacturing such as silicon, sodium, calcium etc. are abundantly available. However, suppliers still have moderate power due to dependence of manufacturers on consistent supply.
Threat of new substitutes: Threat of new substitutes is low as ultra-thin glass has better properties than other substitute materials. However, plastic films is a potential threat.
Competitive rivalry: High due to presence of several international players competing on basis of product quality, price and innovation.
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 from consumer electronics sector. Small and thin electronics gadgets require cover glass that provides protection at minimal thickness and weight.
Regionally, Asia Pacific dominates the global market and is expected to maintain its lead over the forecast period. China and Japan collectively account for more than 50% of global demand due to strong electronics manufacturing base. Countries like India are also exhibiting high growth led by domestic smartphone production.
Key players operating in the ultra-thin glass market include 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. Players are investing in developing new production technologies to reduce thickness while adding strength and optical quality.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it