The growth of ultra-thin glass market is ascribed to the rapidly growing display devices demand across Latin America and Asia-Pacific, says this report.
Selbyville, Delaware, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Based on Global Market Insights Inc., report, the ultra-thin glass market was estimated at $12.5 billion in 2019 and is slated to exceed $22.9 billion by 2026, registering a CAGR of 12.7% from 2020 to 2026. The report provides a thorough analysis of the drivers and opportunities, market estimations as well as size, main investment avenues, top winning strategies, well as size, competitive scenarios, and wavering industry trends.
Ultra-thin glass is primarily used in the electronics industry due to its superior properties. The product is utilized in display panels and touch control devices. Growing demand for electronics products like laptops, OLEDs, smartphones, LCDs, tablets, TVs, tablets, and monitors among many others is likely to boost the ultra-thin glass market. Ultra-thin glass is also consumed in film batteries, capacitors, and semiconductors as a substrate material. The surging application scope of semiconductors in electronics is anticipated to drive industry growth. Growing purchasing power coupled with strong consumer demand will further create more market opportunities.
Request for Sample Report at: https://www.gminsights.com/request-sample/detail/4798
Based on thickness, the 0.5mm to 1.2mm thickness segment is projected to grow at a considerable rate over the estimated timeframe. In fact, the segment is likely to reach a valuation of approximately $1 billion by the end of the analysis timeframe. Increasing product application scope across the automotive sector, because of the weight reduction trend, will fuel the ultra-thin glass market share. Subsequently, potential applications in the construction sector would further generate new market growth opportunities for the product.
In terms of application, in 2019, the flat panel display devices application segment held over 50% of the industry’s demand share. The glass is utilized in numerous flat panel display devices. The ultra-thin glass market demand for flat panel display is likely to be driven by the growing penetration of display technologies in the automotive sector. Furthermore, the incorporation of display technology in the education domain will create market opportunities for flat-panel devices.
Key reasons for ultra-thin glass market growth:
-
Increasing consumer electronics demand across Asia-Pacific.
-
Growing product demand from automotive & construction industries.
-
The rapid growth of the semiconductor industry worldwide.