Ultra-thin Glass Market to Garner $ 9.13 Billion Globally, by 2024 at Almost 12% CAGR, Says Technavio

NEW YORK, May 5, 2021 /PRNewswire/ —
The «Ultra-thin Glass Market by End-user and Geography…

NEW YORK, May 5, 2021 /PRNewswire/ —

The «Ultra-thin Glass Market by End-user and Geography – Forecast and Analysis 2020-2024» report has been added to Technavio’s offering.

The ultra-thin glass market is poised to grow by USD 9.13 billion between 2020-2024, progressing at a CAGR of almost 12% during the forecast period. 

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Flat-panel display products such as flat-screen televisions, laptops, flat-panel monitors, smartphones, and smart wearables are extensively produced by using ultra-thin glass. This is because these glasses are lightweight, flexible, highly responsive, ultra-clear, and provide optimum electric resistance. Moreover, consumers are demanding bigger displays in liquid-crystal display (LCD) televisions, smartphones, automotive, and tabs. Out of these, TV screen size is expected to be the biggest force during the forecast period. the demand for CIDs and increased use of ADAS in smart cars boost the growth of flat panel displays in the automotive industry. The growth in end-user industries offering flat-panel display-based products will have a significant influence on the demand for ultra-thin glasses across the globe. Hence, the increasing demand for flat panel displays is expected to boost the sales of ultra-thin glass. 

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64% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for ultra-thin glass in APAC. Market growth in this region will be faster than the growth of the market in other regions. Ultra-thin glass market growth in this region over the forecast period can be attributed to the growth in the production of consumer electronics, ultra-thin solar cover glasses, and ultra-thin automotive head-up displays.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

Know About the Key Opportunities and Growth of Ultra-thin Glass Market in Construction Materials Industry

https://www.technavio.com/report/ultra-thin-glass-market-industry-analysis

The ultra-thin glass market is segmented by end-user (consumer electronics, photovoltaic and energy storage, lighting, and others) and geography (APAC, North America, Europe, MEA, and South America). 

Consumer electronics are used in smartphones, television, and wearable devices. Owing to their properties, such as lightweight, ultra-smoothness, transparency, flexibility, and improved electrical resistance, ultra-thin screens are finding extensive use in manufacturing light-emitting diode (LED) and organic LED (OLED) display panels. Hence, the consumer electronics segment is expected to be the major end-user of the ultra-thin glass market in the forecast period. 

The market is fragmented due to the presence of a considerable number of vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Key Market Dynamics:

Market Driver

  • Increase in demand for flat panel displays
  • Emerging middle-class population
  • Growth in smartphone industry

Market Challenges

  • Rapid changes in technology
  • Issues related to recycling
  • Difficulties in manufacturing process

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports.

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Companies Mentioned

  • AGC Inc.
  • Central Glass Co. Ltd.
  • China Luoyang Float Glass Group Co. Ltd.
  • Corning Inc.
  • CSG Holding Co. Ltd.
  • Nippon Electric Glass Co. Ltd.
  • Nippon Sheet Glass Co. Ltd.
  • SCHOTT AG
  • Taiwan Glass Ind. Corp.
  • Xinyi Glass Holdings Ltd.

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Glass Lens Market by Product and Geography – Forecast and Analysis 2020-2024: The glass lens market size has the potential to grow by USD 3.59 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Download Our Exclusive Sample Report

Glass Tableware Market by Product and Geography – Forecast and Analysis 2021-2025: The glass tableware market size has the potential to grow by USD 1.10 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 3.02%. To get extensive research insights: Download Our Exclusive Sample Report

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Glass Blocks Market by End-user and Geography – Forecast and Analysis 2021-2025: The glass blocks market size has the potential to grow by USD 374.12 million during 2021-2025, and the market’s growth momentum will accelerate during the forecast period. To get extensive research insights: Get FREE Sample Report in Minutes!

Key Topics Covered:

  • Executive Summary
  • Market Landscape
  • Market Sizing
  • Five Forces Analysis
  • Market Segmentation by End-user
  • Customer landscape
  • Geographic Landscape
  • Vendor Landscape
  • Vendor Analysis
  • Appendix

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Report: https://www.technavio.com/report/ultra-thin-glass-market-industry-analysis

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SOURCE Technavio