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The ultra-thin glass market share is expected to increase by USD 12.16 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 12.75%.
This ultra-thin glass 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 ultra-thin glass market segmentations by end-user (consumer electronics, photovoltaic and energy storage, lighting, and others) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The ultra-thin glass market report also offers information on several market vendors, including AGC Inc., Aviation Glass, Blue Star Glass Co. Ltd., Central Glass Co. Ltd., Changzhou Almaden Co. Ltd, China Luoyang Float Glass Group Co. Ltd., Corning Inc., CSG Holding Co Ltd, Emerge Glass India Pvt. Ltd., Gentex Corp., Huihua Glass Co. Ltd., Nippon Electric Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Noval Glass Group Ltd., Prazisions Glas & Optik GmbH, RUNTAI INDUSTRY Co. Ltd., SCHOTT AG, SGC International, Taiwan Glass Ind. Corp., and Xinyi Glass Holdings Ltd. among others.
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The increase in demand for flat panel displays is notably driving the ultra-thin glass market growth, although factors such as rapid changes in technology 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 ultra-thin glass industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Ultra-thin Glass Market Driver
The increasing demand for flat panel displays is expected to drive ultra-thin glass market growth. Ultra-thin glass-based displays are lightweight, flexible, highly responsive, ultra-clear, and provide optimum electric resistance. Hence, ultra-thin glass is extensively used in the production of flat panel display products such as flat-screen televisions, laptops, flat-panel monitors, smartphones, and smart wearables. Consumers are demanding bigger displays in liquid-crystal display (LCD) televisions, smartphones, automotive, and tabs; out of these applications, TV screen size is expected to be the biggest force during the forecast period. The flat panel displays in the automotive industry are driven by the demand for larger central information displays (CIDs) and the growth of smart cars, which use advanced driver assistance systems (ADAS). The growth in end-user industries offering flat-panel display-based products will have a significant influence on the demand for ultra-thin glasses across the globe.
Key Ultra-thin Glass Market Trend
The growing middle-class population is also one of the factors that will influence the growth of the ultra-thin glass market. Strong economic growth and increased urbanization are expected to increase the middle-class population. The upper-middle-class population is among the major contributors to the sales of consumer electronic products, such as flat-panel televisions, smartphones, and laptops. Furthermore, manufacturers of consumer electronics are increasingly targeting middle-class customers by lowering the prices of their premium products. As a result, the adoption of premium consumer electronics among the middle-class population has increased. In addition, the total expenditure of the middle-class population is expected to double by 2030 from the present scenario. This increase in disposable income is expected to fuel the sales of more consumer electronic devices, thereby increasing the demand for phones and televisions, which is contributing to fuel the growth of the global ultra-thin glass market.
Key Ultra-thin Glass Market Challenge
The rapid changes in technology will be a major challenge for the global ultra-thin glass market share growth during the forecast period. One of the major challenges that the global ultra-thin glass market is expected to face is the rapid change in technology and innovation in existing technology. Innovation in technology can bring out a better version of the existing product or replace it with better products. Thus, the manufacturers of the ultra-thin glass must be in sync with the ongoing development of innovative products and provide glass products that meet the requirement. Foldable smartphones will be introduced into the market in the near future and will disrupt it. Manufacturers should also be able to recognize the technological trends and implement them in their production process and bring out products, which can adapt to the change. This requires continuous investment in R&D and the protection of technical expertise through patents and other industrial property rights. Major vendors are investing in R&D activities for ultra-thin glass. Hence, rapid changes in technology might hinder the growth of the market in focus during the forecast period.
This ultra-thin glass 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 ultra-thin glass market as a part of the global construction materials 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 ultra-thin glass 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 ultra-thin glass market encompasses successful business strategies deployed by the key vendors. The ultra-thin glass market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from 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 ultra-thin glass 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 ultra-thin glass 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.
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65% of the market’s growth will originate from APAC during the forecast period. China, India, and South Korea are the key markets for ultra-thin glass market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The growth in the production of consumer electronics, ultra-thin solar cover glasses, and ultra-thin automotive head-up displays will facilitate the ultra-thin glass 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 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 strict nationwide lockdowns. It had a negative impact on the economy and has caused supply chain disruptions for consumer products. A halt in production by end-user industries in compliance with the government lockdown decreased the demand for ultra-thin glass.
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The ultra-thin glass market share growth in the consumer electronics segment will be significant during the forecast period. The major areas of application are smartphones, television, and wearable devices. Owing to their properties, such as lightweight, ultra-smoothness, transparency, flexibility, and improved electrical resistance, ultra-thin screens are finding extensive use in manufacturing light-emitting diode (LED) and organic LED (OLED) display panels.
This report provides an accurate prediction of the contribution of all the segments to the growth of the ultra-thin glass market size and actionable market insights on post COVID-19 impact on each segment.
Glass Packaging market - The market size is expected to accelerate at a CAGR of 3.99% and reach an estimated value of USD 13.88 billion by 2026.
Glass Substrate market - The 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%.
Ultra-thin Glass Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 12.75% |
Market growth 2022-2026 |
$ 12.16 billion |
Market structure |
Fragmented |
YoY growth (%) |
11.67 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 65% |
Key consumer countries |
US, China, India, South Korea, and Germany |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AGC Inc., Aviation Glass, Blue Star Glass Co. Ltd., Central Glass Co. Ltd., Changzhou Almaden Co. Ltd, China Luoyang Float Glass Group Co. Ltd., Corning Inc., CSG Holding Co Ltd, Emerge Glass India Pvt. Ltd., Gentex Corp., Huihua Glass Co. Ltd., Nippon Electric Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., Noval Glass Group Ltd., Prazisions Glas & Optik GmbH, RUNTAI INDUSTRY Co. Ltd., SCHOTT AG, SGC International, Taiwan Glass Ind. Corp., and Xinyi Glass Holdings Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis, future consumer dynamics, and Market condition analysis for the forecast period. |
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. |
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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
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