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Growing Consumer Electronics Industry to Escalate Ultra-Thin Glass Market Growth during 2021–2028

NEW YORK, UNITED STATES, April 27, 2023 /EINPresswire.com/ -- The scope of our recent study on the “Ultra-Thin Glass Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Manufacturing Process (Float and Fusion), Application (Semiconductor Substrate, Flat Panel Displays and Touch Control Devices, Automotive Glazing, and Others), and End-Use Industry (Consumer Electronics, Automotive, Medical and Healthcare, and Others)” includes the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.

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The ultra-thin glass market was valued at US$ 6,139.56 million in 2020 and is projected to reach US$ 15,264.74 million by 2028; it is expected to grow at a CAGR of 11.5% from 2021 to 2028. Hardened ultra-thin glass is scratch-resistant and bendable up to a radius of a few millimeters. The properties of ultra-thin glass such as corrosion resistance, transparency, flexibility, excellent gas and water barrier, and high impact resistance make it suitable for various applications such as consumer electronics, automotive, and medical and healthcare.

Based on end-use industry, the ultra-thin glass market is segmented into consumer electronics, automotive, medical and healthcare, and others. The consumer electronics segment held the largest share of the market in 2020. Ultra-thin glass is widely used in the manufacturing of electronic products, such as flat panel displays and touch panel displays for various devices, such as LCDs, OLEDs, smartphones, and wearable devices. With the growing demand for innovative and technologically advanced electronic products across the world, the demand for ultra-thin glasses is expected to propel in the coming years.

The global ultra-thin glass market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. In 2020, Asia Pacific held the largest revenue share of the market. China is the largest consumer of ultra-thin glasses, accounting for more than 50% of the market share in Asia Pacific. The country is the major manufacturing hub for all types of consumer electronic products, such as smartphones and LCDs.

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Impact of COVID-19 Pandemic on Ultra-thin Glass Market

The ongoing COVID-19 pandemic has drastically altered the status of the chemicals & materials sector and negatively impacted the growth of the ultra-thin glass market. The implementation of measures to combat the spread of the novel coronavirus has aggravated the situation and has negatively impacted the growth of several sectors. Industries, such as automotive and consumer electronics, have been negatively impacted by the sudden distortion in operational efficiencies and disruptions in the value chains due to the sudden closure of national and international boundaries. The decline in the growth of the several sectors negatively impacted the demand for ultra-thin glass in the global market. However, as the economies are planning to revive their operations, the demand for ultra-thin glass is expected to rise globally in the coming years. Due to the pandemic, the adoption of remote work culture and online education is growing. Therefore, the demand for products such as laptops, smartphones, and other telecommunication devices is growing. The expanding demand for ultra-thin glass in various industries, such as automotive and consumer electronics, along with significant investments by prominent manufacturers is expected to drive the growth of the ultra-thin glass market during the forecast period.

The report includes the segmentation of the global ultra-thin glass market as follows:

Based on manufacturing process, the ultra-thin glass market is bifurcated into float and fusion. Based on application, the market is segmented into semiconductor substrate, flat panel displays and touch control devices, automotive glazing, and others. Based on end-use industry, the market is segmented into consumer electronics, automotive, medical and healthcare, and others. By geography, the ultra-thin glass market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South and Central America. The market in North America is further segmented into the US, Canada, and Mexico. The ultra-thin glass market in Europe is further segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The market in Asia Pacific is sub segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The ultra-thin glass market in Middle East & Africa (MEA) is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The market in South and Central America is sub segmented into Brazil, Argentina, and the Rest of South and Central America.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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