The ultra-thin glass market will reach USD 16.9 billion by 2028

New York, USA, October 4, 2022 (GLOBE NEWSWIRE) — Ultrathin Glass Market Overview

According to a comprehensive research report from Market Research Future (MRFR), “Ultra-thin glass market Information by manufacturing process, thickness, application, end use industry and region: forecast until 2028”, the market is estimated to grow at a CAGR of 7.4% to reach USD 16.9 billion in 2028.

Market Overview

Ultra-thin glass can be described as high-end glass with a much lower thickness (less than 1mm). This type of hair is thinner than even a human hair, therefore it can provide advantages over various substrate materials such as metals, silicone or plastics. Provides excellent temperature stability, optical quality, mechanical strength, and chemical consistency in all applications.

Ultra-thin glass sees widespread use in the semiconductor industry for a number of electronic applications. It provides microchips with the highest level of data transfer rates. Furthermore, ultra-thin glass is used in optical and electronic sensors as well as energy storage devices.

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Scope of the report:

report attribute Details
Market size in 2028 $16.9 billion
CAGR 7.4% (2021-2028)
base year 2020
forecast period 2021-2028
Historic information 2019
Forecast Units Value (billions)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors and Trends
Covered segments By manufacturing process, by thickness, by application, by end-use industry and region
Covered Geographies North America, Europe, Asia-Pacific and Rest of the World (RoW)
Key Market Drivers A rapid degree of industrialization and urbanization in key countries
Increasing demand in the fitness device sector will generate high growth

Competitive landscape of the market:

Prosperous companies in the ultra-thin glass industry are:

  • emerge glass
  • Central Glass Co. Ltd.
  • corning incorporated
  • Aeon Industries Corporation Ltd.
  • Nippon Electric Glass Co. Ltd.
  • Luoyang Glass Co. Ltd.
  • Changzhou Almaden Co. Ltd.
  • Novalglass
  • Xinyi Glass Holdings Limited
  • Nitto Boseki Co. Ltd.
  • Asahi Glass Co. Ltd.
  • CSG Holding Co.Ltd.

Covered USP market:

Market indicators:

Over the years, the focus of car manufacturers has been to reduce the weight of the cars they produce, to facilitate fuel efficiency. Glass is one of the essential materials widely used in automobiles and has been subject to the trend of weight reduction. To meet evolving requirements, manufacturers are creating unique materials and products that can find applications in the automotive industry. This has highlighted the importance of ultra-thin glass in the automotive industry and, by extension, has given a boost to the growth of the market. The rapid expansion of the semiconductor industry has also been favorable for product demand. The strong growth of the semiconductor industry in line with the amazing rise of technologies such as 5G and IoT has translated into substantial revenue generation in the ultra-thin glass industry.

The growth rate of the ultra-thin glass market size is primarily tied to a number of socio-economic factors, including rising disposable income combined with amplified consumption of advanced consumer electronics. Rapid economic growth, as well as declining costs for a number of electronic products and components, could also boost market demand for ultra-thin glass. The emerging popularity of touch control devices are some of the top trends in the ultra-thin glass market gaining dominance, in wearable technologies as well as products such as smart homes, refrigerators, smart cars and more.

Significant developments in science and technology within the electronics sector will create attractive opportunities for ultra-thin glass manufacturers. Rigorous research into displays, thin batteries, and flexible phones is likely to drive the adoption rate of UTG in the electronics industry. Also, the growth of the semiconductor industry as well as the solar energy sector could be opportune for the ultra-thin glass industry in the coming years.

Market restrictions:

A constraint against market growth may be the fact that ultra-thin glass can easily break in harsh environments and therefore requires great care. This weakens its demand in end-use industries that work in extreme conditions.

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COVID-19 Analysis

The significant impact of the COVID-19 outbreak has had multiple repercussions on the health status of everyone globally. The consequences are closely related to the substantial social and economic burden on people around the world. While policymakers are coming up with new frameworks and industries are making use of advanced business expansion models to stay relevant, people are facing a series of mental traumas.

Around the world, the increase in cases has caused mental and economic problems, especially among the elderly. Additionally, the younger population has been dealing with challenges due to loss of livelihoods and is turning to kinship care to address the repercussions. The main focus is on the treatment of COVID-19 and the development of a vaccine. This has heavily affected the ultra-thin glass market, given lower demand for key materials and a financial slowdown.

Market segmentation

By manufacturing process

Various manufacturing processes considered in the report are melting, drawing and flotation. The float segment has been dominating the market, due to the wide use of ultra-thin float glass in various automotive windshield and architectural applications. The second in the lead is the segment of manufacturing processes by fusion, which may grow at a rate of approximately 11.58% during the conjectured period.

by thickness

In terms of thickness, the primary segments are <0.1 mm, 0.1–0.5 mm, 0.5–1.0 mm, 1.0–1.5 mm, and 1.5–2.0 mm . The 0.5 to 1.0mm thickness segment has the highest share due to the increasing use of UTG of this thickness level in applications such as laptops, tablets, smartphones, and various smart devices. However, ultra-thin glass 1.0-1.5mm thick may be the fastest growing segment at a rate of 10.78% over the given period.

per application

Some of the main application areas of ultra-thin glass include solar mirrors, semiconductors, touch screens, automotive glazing, fingerprint screens, medical devices, lightweight assemblies, and others. The lead has been taken by the touch screen segment, while the semiconductor segment may have the fastest expansion rate due to its significant electrical insulation, dielectric and electrical conductivity properties.

By end-use industry

The main end-use industries analyzed in the report are automotive, building and construction, electrical and electronics, renewable energy, biotechnology and others. The electrical and electronic products end-use industry has been the leading segment, as a result of increasing demand for various electronic devices in applications including medical devices, home appliances and vehicles. Meanwhile, the automotive end-use industry may be the fastest-growing segment, reaching a valuation of $4,553.7 million by 2024, thanks to the growing preference for fuel-efficient vehicles around the world.

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regional perspectives

The APAC market for ultra-thin glass is the largest and will continue to thrive at a phenomenal rate for years to come. The main factors responsible for the growth of the market in the region include the increasing demand for a variety of consumer electronics, including smart watches, home appliances and smartphones. The increasing number of manufacturers moving from developed economies to the region, especially to India and China due to the high availability of lower-priced raw materials and cheap labor, has benefited the ultra-thin glass industry. The market value is bolstered by the strong presence of renowned firms such as Nippon Sheet Glass and AGC Inc. in the region.

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