by Ultra-thin glass is employed in various electronics such as smartphones, tablets, LCD TVs, and wearable devices due to its lightweight and thin nature. It is a transparent material that allows touchscreen functionality and is highly durable. Ultra-thin glass provides scratch resistance and can withstand mechanical stress. The demand for these types of glasses is growing in the electronics industry due to ongoing technological advancements in displays. Manufacturers are increasingly adopting ultra-thin glasses to develop slim and elegant designs for consumer electronics.
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:
One of the major trends in the ultra-thin glass market is the increasing preference of consumers towards foldable display devices. Smartphone manufacturers are focusing on developing innovative foldable smartphone designs by integrating ultra-thin flexible glass. For instance, in 2019, Samsung launched its foldable smartphone called Galaxy Fold that uses an ultra-thin flexible glass on the folding screen. The foldable display trend is gaining traction and is expected to drive the demand for ultra-thin flexible glass in the coming years. Manufacturers are investing heavily in R&D to develop improved flexible glass materials that can facilitate the growth of the foldable display market.
Porter’s Analysis
- Threat of new entrants: The ultra-thin glass market requires high capital investment for manufacturing plant set up and R&D activities which poses barriers for new players.
- Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes like plastic and introduction of new technologies.
- Bargaging power of suppliers: The suppliers have low to moderate bargaining power due availability of substitutes and large customer base in ultra-thin glass market.
- Threat of new substitutes: The threat from substitutes like plastics is moderate as ultra-thin glasses carry advantages of strength, transparency and touchscreen compatibility.
- Competitive rivalry: The competition is high among established players to gain major market share through product innovation, technology development and expansion.
Key Takeaways
The global ultra-thin glass market is expected to witness high growth. Regional analysis related content comprises The Asia Pacific region dominates the ultra-thin glass market and is expected to grow at fastest CAGR during the forecast period. Factors such as rapid industrialization, growing electronics industry and presence of manufacturing bases are propelling the market growth.Key players related content comprises 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. Corning Inc. is the market leader with wide product portfolio and global presence. Schott AG focuses on technological innovations for various applications.
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
