The global ultra-thin glass market size is expected to grow from USD 7.8 billion in 2020 to USD 14.3 billion by 2025, at a compound annual growth rate (CAGR) of 13.0% during the forecast period. Ultra-thin glass is used in a variety of end-use industries, including consumer electronics, automotive & transportation, medical & healthcare, and others including industrial, construction & architecture, aerospace & defense, railway, solar energy, sports & entertainment, etc. Increasing demand from these end-use industries is driving the market. However, the outbreak of COVID-19 pandemic and its impact on the consumer electronics industry has affected the ultra-thin glass market in 2020.
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The 0.1mm-0.5mm thick ultra-thin glass comprises a major share of the ultra-thin glass market
0.1mm-0.5mm thick ultra-thin glass has its applications in touch panel display, fingerprint sensor, semiconductor substrate, vehicle infotainment system, and biotechnological devices. This ultra-thin glass is flat and has smooth surface and excellent heat resistance. It has applications in smartphones, tablets, and LCD. The demand for 0.1mm-0.5mm is high compared to other thick ultra-thin glass.
Touch Panel Display application is projected to have a significant share in the global ultra-thin glass market
Touch panel displays are extensively used in smartphones, TVs, wearable devices, and signage. Ultra-thin glass used in touch panel displays helps in weight reduction of the overall electronic product. The touch panel displays segment was the leading consumer of ultra-thin glass in 2019. This segment has grown substantially over the years owing to the increasing demand for smartphones and TVs. Digitalization has grown, and this growth is expected to drive the ultra-thin glass market in the touch panel displays application segment.
The consumer electronics end-use industry is expected to account for the largest share in the global ultra-thin glass market
The consumer electronics industry is witnessing continuous evolution owing to technological advancements (particularly in smartphones, wearable devices, and TVs). Ultra-thin glasses are widely used in consumer electronics for applications, such as displays and sensors. Properties such as electrical conductivity and sensitivity, transmissivity, and flexibility make it suitable for varied applications in this industry. Consumer electronics is the largest end-use industry of the ultra-thin glass market, and this trend is estimated to continue during the forecast period.
APAC was the largest ultra-thin glass market in terms of value in 2019. The key reason for this growth includes the demand for ultra-thin glass in the consumer electronics industry in the region. The demand for ultra-thin glass in consumer electronics, automotive & transportation, medical & healthcare, and other industries is projected to grow due to product innovation and technological advancements. The growth of the market in this region is further boosted by improved technology solutions, superior properties, and increasing penetration in various end-use industries. In 2020, the global ultra-thin glass market is estimated to decline due to the COVID-19 impact. The pandemic has affected more than 5 billion people around the world. More than 100 countries are under complete or partial lockdown. Supply chain disruption and lockdown due to the COVID-19 pandemic is expected to affect the GDP of all major economies, such as China, Germany, Japan, the UK, and France. COVID-19 has brought the production of non-essential goods to almost a halt in most of the major economies. The automobile manufacturing in Italy, France, Germany, and the UK, among other countries, is halted, which has adversely influenced the demand for composites in these industries.
The key players in the market include Corning (US), Asahi Glass (Japan), Nippon Electric Glass (Japan), SCHOTT AG (Germany), and Nippon Sheet Glass (Japan). These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the ultra-thin glass market.
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