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.
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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.
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In 2019, the Asia-Pacific (APAC) region emerged as the dominant market for ultra-thin glass in terms of value, primarily driven by robust demand within the consumer electronics sector. The increasing need for ultra-thin glass across diverse industries such as consumer electronics, automotive, medical, and others is anticipated to witness significant growth, propelled by ongoing product innovation and technological advancements. The market’s expansion in the APAC region is further fueled by advancements in technology solutions, superior product properties, and heightened adoption across various end-use sectors. However, the global ultra-thin glass market faced a downturn in 2020, largely attributed to the disruptive impact of the COVID-19 pandemic. With over 5 billion people affected worldwide and more than 100 countries implementing complete or partial lockdowns, the pandemic caused significant supply chain disruptions and economic downturns in major economies like China, Germany, Japan, the UK, and France. The widespread production slowdown, especially in non-essential goods, resulted in a halt in automobile manufacturing across countries such as Italy, France, Germany, and the UK, adversely affecting the demand for composites within these industries.
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