Global Ultra-Thin Glass Market: Market to reach 16.9 billion in 2027 aided by Increase in demand for various consumer electronics products.

The global ultra-thin glass market size is projected to grow from USD 7.1 billion in 2020 to USD 16.9 billion by 2027, at a CAGR of 13.2 %. Ultra-thin glasses are used in different applications including semiconductors and electronics due to its low thickness. The ultra-thin glasses are available at a wide range from micrometer to millimetre. This size makes the glass suitable to carry the devices such as tablets, PCs, cameras, and CCTV. These glasses have wide-ranging applications in electro-chromic windows and mirrors, LEDs, and advanced packaging. This high adoption is from numerous industries are propelling the growth of the global market for ultra-thin glass.

Increase in demand for touch panel display and other electronic products is a key factor in bolstering the growth of the market. However, the high cost of raw materials and manufacturing process are hampering the growth of the market. Nevertheless, emerging application of ultra-thin glass in solar products is expected to growth opportunity for the market players in the upcoming years.
Growing demand for electronic devices such as LCDs, LEDS, OLEDs, smartphones, monitor, and laptop is likely to boost the utilization of flat display panels. In July 2018, Xiaomi launched a new smart phone named Hongmi Note 5 in Seoul, South Korea which uses a tempered ultra-thin glass of 0.3 mm thickness. With this launch the company expanded its presence in South Korea. The rising smart phone production along with the increasing display sizes of other electronic devices is likely to remain a key factor for the flat panel displays.

Along with the smartphones, smart watches are also becoming popular and are witnessing increased share in the wearables industry. In 2018, the smart watch shipments for Apple, Fitbit, Samsung, and Garmin were 22.5 million units, 5.5 million units, 5.3 million units, and 3.2 million units respectively. Thus, increased production of smartphones and smart watches is likely to augment the growth of the ultra-thin glass industry.

The growing demand for the product is compelling new manufacturers to enter in to the market. However, critical manufacturing process and huge capital investments due to technology advancement and demand for innovative products to meet various requirements of ultra-thin glass products are restricting the new entrants in the market.

Emerge Glass, Central Glass Co., Ltd., RUNTAI INDUSTRY CO., LTD., Corning Incorporated, Aeon Industries Corporation Ltd., TAIWAN GLASS IND. CORP., Nippon Electric Glass Co., Ltd., Luoyang Glass Co., Ltd., SCOTT AG, Changzhou Almaden Co., Ltd., Novalglass, Xinyi Glass Holdings Limited, Nitto Boseki Co., Ltd., Asahi Glass Co., Ltd., and CSG Holding Co., Ltd. are reputed players currently operational in the ultra-thin glass market.

APAC accounts for the largest share in the ultra-thin glass market, owing to the growing economies of the China, Japan the presence of prominent players, and expanding consumer electronics industry. In APAC, China is projected to grow at the fastest rate during the forecast period. It is the largest market for ultra-thin glass in APAC. The economic growth of the country is the main reason for the high consumption of ultra-thin glass. The consumer electronics and other end-use industries are rapidly expanding, thereby driving the demand for ultra-thin glass in the region.