The global ultra-thin glass market size is expected to grow from USD 7.8 billion in 2020 to USD 14.3 billion by 2025, at a compound annual growth rate (CAGR) of 13.0% during the forecast period. Ultra-thin glass is used in a variety of end-use industries, including consumer electronics, automotive & transportation, medical & healthcare, and others including industrial, construction & architecture, aerospace & defense, railway, solar energy, sports & entertainment, etc. Increasing demand from these end-use industries is driving the market. However, the outbreak of COVID-19 pandemic and its impact on the consumer electronics industry has affected the ultra-thin glass market in 2020.
APAC was the largest ultra-thin glass market in terms of value in 2019. The key reason for this growth includes the demand for ultra-thin glass in the consumer electronics industry in the region. The demand for ultra-thin glass in consumer electronics, automotive & transportation, medical & healthcare, and other industries is projected to grow due to product innovation and technological advancements. The growth of the market in this region is further boosted by improved technology solutions, superior properties, and increasing penetration in various end-use industries. In 2020, the global ultra-thin glass market is estimated to decline due to the COVID-19 impact. The pandemic has affected more than 5 billion people around the world. More than 100 countries are under complete or partial lockdown. Supply chain disruption and lockdown due to the COVID-19 pandemic is expected to affect the GDP of all major economies, such as China, Germany, Japan, the UK, and France. COVID-19 has brought the production of non-essential goods to almost a halt in most of the major economies. The automobile manufacturing in Italy, France, Germany, and the UK, among other countries, is halted, which has adversely influenced the demand for composites in these industries.
To know about the assumptions considered for the study download the pdf brochure
Over the past few years, companies have strengthened their positions in the global ultra-thin glass market by adopting strategies such as new product launch/new product development, collaboration, joint venture, and partnership. From 2015 to 2020, new product launch/new product development and joint venture have been the key strategies adopted by market players. For instance, in March 2018, Asahi Glass developed an ultra-thin flexible cover glass for foldable devices. The product has bending stress over 1200 MPa. These foldable glasses can be widely used for next-generation displays.
Major market players profiled in this report include Corning (US), Asahi Glass (Japan), Nippon Electric Glass (Japan), SCHOTT AG (Germany), Nippon Sheet Glass (Japan), CSG Holding (China), Central Glass Co., Ltd. (Japan), Xinyi Glass Holdings Limited (Hong Kong), and Changzhou Almaden Co., Ltd. (China). These companies adopted various organic and inorganic growth strategies in the past few years. For instance, in January 2016, Corning formed a joint venture with Saint-Gobain Sekurit (France) to develop, manufacture, and sell lightweight automotive glazing solutions. The venture offers laminated windows for glazing solutions, which are made with Corning’s ultra-thin Gorilla glass for automotive and Sekurit’s automotive glass and window technologies.
In February 2019, Teijin acquired Renegade Materials Corporation, a supplier of highly heat-resistant thermoset prepreg for the aerospace industry in North America. This helped the company solidify its position as a leading provider of solutions for aerospace applications.
In January 2020, Hexcel collaborated with Madshus, a leading innovator in the world of cross-country skiing. The company provides Madshus with three different Hi Tape products based on specific design parameters of different cross-country ski types. Hexcel’s new HiTape dry carbon tapes improve the performance, manufacturing efficiency, and surface finish of Madshus’ skis. This strategy has helped the company increase its revenue through ultra-thin glass products and sustain in the market.
Request for Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=40947094
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, and strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/ultra-thin-glass-market-40947094.html