Ultra-Thin Glass Market is Estimated to Surpass USD 21.68 Billion by 2032: Research Study by Reports and Data
Market Summary:
The global Ultra-Thin Glass Market had a value of USD 12.83 billion in 2022 and is projected to reach USD 21.68 billion by 2032, with a revenue compound annual growth rate (CAGR) of 6% during the forecast period. The substantial growth in market revenue is primarily attributed to the rapid expansion of the electronics sector, where ultra-thin glass finds frequent use in the production of smartphones, tablets, and various other electronic devices.
Furthermore, the demand for ultra-thin glass is being propelled by the ongoing trend of miniaturization within the electronics sector. Market revenue growth is also expected to be driven by sectors such as healthcare, aerospace, and others that utilize ultra-thin glass.
Another significant contributor to the revenue growth in the ultra-thin glass market is the increasing demand for cutting-edge display technologies like Organic Light Emitting Diode (OLED) and Quantum-dot Light Emitting Diode (QLED) displays. These displays offer enhanced durability, flexibility, and transparency, thanks to the incorporation of ultra-thin glass, which also enhances the overall viewing experience. The rising use of smart devices and the demand for high-resolution displays further contribute to the growth of the ultra-thin glass market.
The construction industry's growing emphasis on energy efficiency is also driving the demand for ultra-thin glass. Energy-efficient windows, which incorporate ultra-thin glass, play a crucial role in reducing energy consumption and greenhouse gas emissions. Additionally, the trend towards green buildings is contributing to the increased demand for ultra-thin glass.
Strategic Developments:
· In 2021, Corning Inc. announced a collaboration with OLEDWorks, a leading manufacturer of organic light-emitting diodes (OLEDs), to develop an ultra-thin glass substrate for OLED lighting applications. The collaboration aims to address the growing demand for flexible and high-performance lighting solutions.
· In 2020, AGC Inc. announced the acquisition of a majority stake in Glaston Corporation, a Finnish company that specializes in glass processing technology. The acquisition was aimed at expanding AGC's product offerings and strengthening its position in the ultra-thin glass market.
· In 2020, Nippon Electric Glass Co. Ltd. announced the development of a new ultra-thin glass substrate for foldable smartphones. The glass substrate is highly flexible and can be folded multiple times without damage, making it an ideal material for the growing demand for flexible displays.
· In 2019, Schott AG announced the launch of a new ultra-thin glass substrate for next-generation displays. The glass substrate is ultra-thin, highly transparent, and has excellent thermal stability, making it an ideal material for high-performance displays.
Ultra-Thin Glass Market Report Scope
|
PARAMETERS |
DETAILS |
|
The market size value in 2022 |
USD 12.83 Billion |
|
CAGR (2022 - 2032) |
6% |
|
The Revenue forecast in 2032 |
USD 21.68 Billion |
|
Base year for estimation |
2022 |
|
Historical data |
2020-2021 |
|
Forecast period |
2022-2032 |
|
Quantitative units |
· Revenue in USD Billion · CAGR from 2022 to 2032 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
By Thickness Outlook, End-Use Outlook, Regional Outlook |
|
By Thickness Outlook |
|
|
By End-Use Outlook |
|
|
Regional scope |
North America; Europe; Asia Pacific; Latin America ; Middle East & Africa |
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Leading Key Players in the Market:
Some of the major players operating in the global ultra-thin glass marketinclude:
· Corning Inc.
· AGC Inc.
· Asahi Glass Co. Ltd.
· Nippon Electric Glass Co. Ltd.
· Schott AG
· Samsung Corning Precision Materials Co. Ltd.
· Century Specialty Glass
· Emerge Glass India Pvt. Ltd.
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Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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