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The glass substrate market share is expected to increase by USD 616.14 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.92%.
This glass substrate market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers glass substrate market segmentation by end-user (electronic display panels, automotive, medical, solar, and aerospace and defense) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The glass substrate market report also offers information on several market vendors, including AGC Inc., Apogee Enterprises Inc, Corning Inc., DuPont de Nemours Inc., HOYA Corp., IRICO Group New Energy Co. Ltd., Kyodo International Inc., Laseroptik GmbH, MTI Corp., Nippon Sheet Glass Co. Ltd., NOVA Electronic Materials LLC, Ohara Inc., Otto Chemie Pvt. Ltd., Plan Optik AG, SCHOTT AG, Shilpa Enterprises, Shin Etsu Chemical Co. Ltd., Solaronix SA, Techinstro Industries, and Vedanta Ltd. among others.
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The increasing adoption of glass fiber composites in automobiles is notably driving the glass substrate market growth, although factors such as the environmental impact of glass production may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the glass substrate industry. The holistic analysis of the drivers will help deduce end goals and refine marketing strategies to gain a competitive edge.
Key Glass Substrate Market Driver
The increasing adoption of TFT glass fiber substrates in automobiles is one of the major drivers impacting the glass substrate market growth. Modern cars need advanced materials like glass fiber composites to increase their fuel efficiency while simultaneously retaining their performance and safety characteristics. Lightweight materials offer a highly promising alternative to improve vehicle efficiency since their lower weight ensures that the vehicle consumes less fuel or energy to run when compared to heavier materials. The fact that glass fiber composites outperform steel in several ways is one reason for their relative success in automotive applications. The main applications of glass fiber composites in automobiles are bumpers, hoods, and casings. Another benefit of TFT glass fiber substrates is their resistance to abrasion, which is the reason that they are utilized to make brake and clutch pads. To ensure their integrity, clutch discs are strengthened using woven glass fiber composites. Hence, the increasing adoption of glass fiber composites in automobiles contributes to the growth of the global glass substrate market during the forecast period.
Key Glass Substrate Market Trend
The adoption of glass substrates in solar power-generating plants is one of the major trends influencing the glass substrate market growth. Global energy demand is growing rapidly along with robust economic growth worldwide. This growth in the global electricity demand is driven by emerging economies, such as those in Asia. The need for alternative energy sources has grown over the past ten years as a result of the constant increase in the price of electricity. One alternative to conventional energy sources is solar power. Sunlight has an effect, either active or passive, on photochromic smart glass substrates. Utilizing such smart glass substrates drastically lowers power consumption, especially for heating and cooling systems. One of the growing potential uses of smart glass substrates is in solar power plants. Solar panels employ smart glass panels to capture as much light as possible to generate electricity. Future applications of smart glass technologies are likely to come from the solar energy generation industry, which will lead to the growth of the global glass substrate market during the forecast period.
Key Glass Substrate Market Challenge
The environmental impact of glass production is one of the major challenges impeding the glass substrate market growth. The atmospheric emissions from glass melting activities have a major negative impact on the environment. Carbon dioxide( CO2) is released due to the burning of natural gas and the breakdown of raw materials during the gas melting process. Although CO2 is necessary for plant and animal survival, its excessive emissions into the Earth's atmosphere can have disastrous effects. CO2 is a significant contributor to air pollution. This is because ground-level ozone is produced as a result of CO2's ability to trap radiation. This leads to the warming of the oceans and seas and stops the planet from cooling during the night. A high quantity of CO2, which is also referred to as a greenhouse gas, can interfere with the atmosphere's normal temperature regulation and cause global warming. By trapping heat, CO2 emissions contribute to climate change as well as respiratory diseases, which are brought on by smog and air pollution. These consequences of glass melting activities can hinder the growth of the global glass substrate market during the forecast period.
This glass substrate market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global glass substrate market as a part of the global metal and glass containers market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the glass substrate market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the glass substrate encompasses successful business strategies deployed by the key vendors. The glass substrate market is fragmented and the vendors are deploying growth strategies such as technological advancement to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The glass substrate market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the glass substrate market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the metal and glass containers market includes the following core components:
The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
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45% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the glass substrate market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The rising use of glass substrates across countries like China, India, and Japan will facilitate the glass substrate market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of the COVID-19 pandemic in 2020 had a significant impact on almost all industries in the region. Many countries such as China, India, and Japan imposed stringent nationwide lockdowns, which had not only a negative impact on the economy but also triggered supply chain disruptions for consumer products. The temporary halt in production by end-user industries in compliance with the government's lockdown regulations decreased the demand for glass substrates. However, in 2021, with the initiation of large-scale vaccination drives, the number of COVID-19 cases declined in the region. This subsequently led to the lifting of lockdowns and the resumption of end-user operations, thereby increasing the demand for glass substrates.
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The glass substrate market share growth in the electronics display panels segment will be significant during the forecast period. The global glass substrates market is gaining prominence due to developments in semiconductor and liquid crystal display (LCD) technologies. The demand for semiconductors is likely to increase across several industrial sectors, which is anticipated to fuel the expansion of the global glass substrate market during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the glass substrate market size and actionable market insights on post COVID-19 impact on each segment.
Ceramic Substrate market - The market share is expected to increase by USD 2.27 billion from 2021 to 2026, and the market’s growth momentum will decelerate at a CAGR of 6.3%.
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Glass Substrate Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.92% |
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Market growth 2022-2026 |
$ 616.14 million |
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Market structure |
Fragmented |
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YoY growth (%) |
5.0 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 45% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
AGC Inc., Apogee Enterprises Inc, Corning Inc., DuPont de Nemours Inc., HOYA Corp., IRICO Group New Energy Co. Ltd., Kyodo International Inc., Laseroptik GmbH, MTI Corp., Nippon Sheet Glass Co. Ltd., NOVA Electronic Materials LLC, Ohara Inc., Otto Chemie Pvt. Ltd., Plan Optik AG, SCHOTT AG, Shilpa Enterprises, Shin Etsu Chemical Co. Ltd., Solaronix SA, Techinstro Industries, and Vedanta Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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