The ultra-thin glass market comprises products with thickness varying between 0.1mm to 1mm that provides superior mechanical strength and thermal resistance compared to conventional glass. Ultra-thin glasses are used in applications where thin and lightweight materials are required such as for displays in consumer electronics devices.
The global ultra-thin glass market is estimated to be valued at US$ 13.4 billion in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Ultra-thin glass has opened new opportunities for display designs and portable electronics due to its thinness and light weight advantage over conventional glass. It provides a real glass-like experience for touchscreens and also acts as a protective cover for displays in smartphones, tablets, laptops, smart watches, virtual/augmented devices and other consumer electronics. Rising demand for OLED displays globally is a key factor driving the ultra-thin glass market as OLED panels require thinner and lighter protective substrates than traditional LCDs to enable their use in flexible and foldable devices.
Key Takeaways
Key players operating in the Ultra-Thin Glass Companies are Corning Inc., AGC Inc., Schott AG, Nippon Electric Glass Co., Ltd., Central Glass Co., Ltd., Xinyi Glass Holdings Limited, AIR-CRAFTGLASS, NOVALGLASS, and Tawian Glass Group. Corning Inc. holds the leading market share and is a major manufacturer of ultra-thin glass known by its trademark 'Willow Glass'.
The growing demand for larger and screens integrated in smartphones, tablets and other consumer electronics devices has accelerated the adoption of ultra-thin glass in recent years. Flexible and foldable displays requiring very thin protective substrates have further boosted demand.
Major glass manufacturers have expanded their ultra-thin glass production capacities globally especially in Asia to cater to the rising requirements of the electronics industry. Aggressive capacity expansion plans indicate strong long-term opportunities expected in the global ultra-thin glass market through 2031.
Market Key Trends
One of the key trends observed in the Ultra-Thin Glass Market Growth is the increasing penetration of OLED displays in premium smartphone models. OLED screens enable thinner profiles and curved designs not possible with LCD technology. This has significantly driven the adoption of ultra-thin glass as the protective cover sheet material in flagship smartphones from major brands. Ultra-thin glass manufacturers are developing new product varieties specifically tailored to meet the unique requirements of next-generation flexible and bendable displays.
Porter’s Analysis
Threat of new entrants: New companies can enter the market easily by setting up low-cost manufacturing units. However, large capital investments and established brand names of existing players pose significant barriers.
Bargaining power of buyers: Buyers have moderate bargaining power due to the presence of substitutes. However, differentiated products of major players bind buyers to selective brands.
Bargaining power of suppliers: A few major vendors supply crucial raw materials globally. This allows suppliers to exercise some control over pricing but reliance on sustained relationships maintain price stability.
Threat of new substitutes: Glass substitutes like plastics possess varying production costs but cannot match glass properties entirely. Technological developments might lead to new substitutes with improved attributes.
Competitive rivalry: The market has very few international companies dominating the majority share. However, tight competition on pricing, quality, and delivery does not allow companies to hike prices freely.
Geographical Regions
Asia Pacific region holds the major share of the global ultra-thin glass market in terms of value, led by high demand from various end-use industries in countries like China, Japan, and South Korea.
North America is expected to witness the fastest growth during the forecast period due to increasing consumption from various sectors including consumer electronics and automotive in the US and copyright.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)