June 25, 2024

Ultra-Thin Glass Market is expected to be Flourished by Increasing Demand for Energy Efficient Display Applications

Ultra-thin glass, also known as flexible glass, is a thin sheet of glass that is usually less than 0.1 millimeters thick. It offers various properties such as high transparency, strength, thermal insulation, and chemical resistance. Ultra-thin glass is mainly used in display applications such as smartphones, tablets, touch screen displays, notebooks, and laptops as it delivers energy efficiency, clarity, durability, and portability. Owing to its lightweight and flexibility characteristics, it is increasingly replacing conventional glass in display devices. The global demand for energy efficient electronic devices is driving the adoption of ultra-thin glass in displays as it provides transparent insulation and reduces overall device weight compared to other materials.

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 Dynamics:

Increasing demand for energy efficient display applications is one of the major drivers of ultra-thin glass market. Ultra-thin glass enhances display efficiency by reducing device weight without compromising on strength. With growing environmental consciousness, consumers are preferring slimmer and portable electronic devices with longer battery backup. This demand is fueling the adoption of ultra-thin glass in smartphone, tablet and laptop displays. Further, the rising demand from touch screen industry is also boosting the ultra-thin glass market growth over the forecast period. Touch screens increasingly require transparent conductive coating and flexible form factor to enable multi-touch functionality, which ultra-thin glass offers effectively.

Segment Analysis

The global ultra-thin glass market is dominated by the touch panel display sub-segment. Ultra-thin glass with a thickness less than 0.1mm is widely used in touchscreens for various consumer electronics such as smartphones, tablets, laptops, and wearables. Easy availability, better durability and low production cost has increased demand for ultra-thin glass in touch displays.

PEST Analysis

  • Political: The market sees no major political risks. Most countries support the electronics industry growth.
  • Economic: Growing global middle-class and urbanization is driving demand for consumer electronics using ultra-thin glass. However, high inflation and economic uncertainties impact consumer spending.
  • Social: Changing work patterns, preference for portable devices and digital connectivity are propelling demand. Social media also influences consumer electronics purchase decisions.
  • Technological: Advent of flexible displays, virtual/augmented reality and internet of things presents new growth avenues. However, intense R&D investments required to commercialize emerging technologies.

Key Takeaways

The global ultra-thin glass market is expected to witness high growth during the forecast period.

Regional analysis: Asia Pacific holds the largest share of over 40% in the ultra-thin glass market led by China, Japan, South Korea and Taiwan. Increasing electronics exports and strong domestic demand for consumer devices are propelling the regional market. Additionally, ongoing infrastructure development projects and urbanization are increasing electronics penetration.

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 holds the leading market share owing to its robust portfolio of specialty glasses for various applications.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it