Strategic Analysis Of The Global Glass Substrate Market 2024 - 2033
Glass Substrate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Glass Substrate Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, August 16, 2024 /EINPresswire.com/ -- The global glass substrate market1 is set to grow from $7.41 billion in 2023 to $7.90 billion in 2024, at a compound annual growth rate (CAGR) of 6.5%. This growth is driven by increased demand for solar power, automotive applications, energy-efficient glass substrates, high-speed data transfer, and industrial applications. The market is projected to reach $10.20 billion by 2028, with a CAGR of 6.6%, supported by rising consumer electronics demand, aerospace and defense applications, and advancements in medical equipment.
Growing Demand for Consumer Electronics Drives Market Expansion
The growing demand for consumer electronics is a key factor fueling the growth of the glass substrate market. Consumer electronics, including smartphones, laptops, tablets, and televisions, require high-quality glass substrates for enhanced design, durability, and display quality. According to the Japan Electronics and Information Technology Industries Association, the total electronic equipment production in Japan reached ¥771,457 million ($48,86,350 million) in May 2023, with consumer electronics production increasing to ¥32,099 million ($2,033,126 million) from ¥25,268 million ($1,600,456 million) in the previous year. This rising demand is a significant driver for the glass substrate market.
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Major Players and Market Trends
Key players in the glass substrate market include Asahi Glass Co. Ltd., Corning Incorporated, Toppan Inc., and HOYA Corporation. These companies are focusing on developing high-performance glass substrates to enhance electronics, display technologies, and renewable energy systems. For example, Intel Corporation launched innovative glass substrates in September 2023, designed to meet the growing demand for advanced computing capabilities with improved thermal management and electrical insulation.
Trends Shaping the Future of the Market
Major trends driving the market include the demand for high-quality glass substrates, adoption of LCDs in vehicles, and the growing use of smart handheld devices and semiconductors. The emphasis on high-definition displays and the integration of advanced technologies are expected to continue shaping the market.
Segments:
By Type: Borosilicate Based, Fused Silica And Quartz Based, Silicon, Other Types
By Wafer Diameter: 300 mm, 200 mm, 150 mm, 125 mm, Above 300 mm, Up to 100 mm
By Application: Wafer Packaging, Substrate Carrier, TGV Interposer
By End User Industry: Automotive, Aerospace and Defense, Healthcare, Solar Power, Electronics, Other End User Industries
Geographical Insights: North America Leading the Market
North America was the largest region in the glass substrate market in 2023. However, Asia-Pacific is anticipated to be the fastest-growing region during the forecast period, driven by increasing industrial activities and technological advancements in the region.
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Glass Substrate Global Market Report 20242 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Glass Substrate Global Market Report 2024 by The Business Research Company3 is the most comprehensive report that provides insights on glass substrate market size, glass substrate market drivers and trends, glass substrate market major players, competitors' revenues, market positioning, and market growth across geographies. The glass substrate market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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