September 25, 2020
According to the research report titled ‘Ultra-thin Glass Market Size By Thickness, By Production, By Application, Industry Analysis Report, Regional Outlook, Application Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global ultra-thin glass market is expected to showcase unprecedented growth during 2020-2026.
Rapid expansion of consumer electronics sector owing to consumer inclination towards using next-get electronic devices is a major factor driving the growth of global ultra-thin glass market.
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Notably, an ultra-thin glass is usually thinner than 2mm and is widely popular owing to its aesthetic appeal, rigidity, and lightweight. Rising adoption of ultra-thin glass as bendable displays or for separating electrical components in smartphones are further aiding the market expansion.
As per thickness, 0.1 mm to 0.5 mm segment accounted for 15% share of worldwide ultra-thin glass market revenues in 2019 and is expected to showcase exceptional growth in the forthcoming years. Rising penetration of consumer electronics in Asia-Pacific is fueling the segmental share.
In terms of production process, global ultra-thin glass market share from overflow-fusion segment is expected to reach USD 6,397 million by the year 2026. This process is widely adopted for production of cover glass used in smartphones & tablets as well as for TFT displays applied in notebooks, TVs, and computer monitors.
Moving on to application spectrum, the others segment of global ultra-thin glass industry, which includes energy and automotive sectors, is predicted to expand with a CAGR of 10.3% between 2020 and 2026. Rising adoption of the product in the aforementioned industries is favoring global ultra-thin glass market outlook.
Considering the geographical landscape, Middle East & Africa currently accounts for 6% market share and is anticipated to showcase similar growth trends in the subsequent years. Growing middle-class population has impelled the demand for home appliances as well as electronics. Thus, flourishing consumer electronics sector and easy accessibility of premium products in Dubai are facilitating ultra-thin glass business scenario in Middle East & Africa.
Hoya Corporation, Noval Glass Group Ltd., Shanghai Pony Technology Co. Ltd., Xinyi Ultra-Thin Glass Co. Ltd., Aviation Glass & Technology, Emerge Glass Pvt. Ltd., Taiwan Glass Industry Corp., Pilkington, Luoyang Glass Co. Ltd., CGS Holdings Ltd., Nippon Sheet Glass Co. Ltd., AGC Inc., Schott AG, Corning Inc., and LyondellBasell Industries N.V. are the major contenders in global ultra-thin glass market.