The Ultra-Thin Glass Market is estimated to be valued at US$ 12.5 Bn in 2023 and is expected to exhibit a CAGR of 7.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Ultra-thin glass refers to thin silicate coatings or thin glass with thickness ranging from 0.1mm to 1mm. It is lightweight, flexible and break-resistant. Ultra-thin glass finds wide applications as protective screen in consumer electronics such as smartphones, tablets, laptops etc. owing to its sturdy and transparent properties.

Market key trends:
Ultra-thin glass is increasingly being used in manufacturing screens/displays of consumer electronics owing to growing demand for slim and lightweight gadgets. Advancements in coating and film technologies have enabled mass production of ultra-thin protective screen sheets. Major electronics brands are opting for ultra-thin glass screens in lieu of traditional protective films to offer enhanced visibility and premium touch experience to customers. Growing investments by panel makers in expanding ultra-thin glass production capacities denotes high prospects for underlying market over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as the ultra-thin glass market requires high capital investment and technological expertise. However, this threat may intensify with advancements in technologies which can lower barriers to entry.

Bargaining power of buyers: The bargaining power of buyers is moderate to high as the ultra-thin glass has numerous applications and buyers can easily switch between suppliers. However, differentiated product offerings and customized services aid in retaining buyers.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials for ultra-thin glass production such as chemicals, sand and glass are abundantly available. However, suppliers may flex their power if production volumes of manufacturers increase significantly.

Threat of new substitutes: The threat of new substitutes is moderate since the market is niche in nature. However, advancements in materials science may lead to new substitutes for ultra-thin glass.

Competitive rivalry: The competitive rivalry in the market is high owing to the presence of numerous global players.

SWOT Analysis
Strength: Ultra-thin glass offers high strength, shatterproof and durable characteristics which make it suitable for various applications. It has high transparency which enhances visibility.

Weakness: Ultra-thin glass requires specialized production processes and equipment which increases manufacturing costs. fragility during manufacturing and transport can lead to losses.

Opportunity: Growth in electronics and automotive industries offer significant opportunities for ultra-thin glass adoption in displays, sensors and window applications. Increasing demand for lightweight and durable materials also presents opportunities.

Threats: Stringent regulations around glass waste disposal add to production costs. Volatility in raw material prices can impact profit margins.

Key Takeaways

The Global Ultra-Thin Glass Market Size is expected to witness high growth, exhibiting CAGR of 7.2% over the forecast period, due to increasing adoption in electronics and automotive industries. By 2030, the market size is projected to reach US$ 29.5 Bn.

Regional analysis: North America currently dominates the global ultra-thin glass market and is expected to grow at 6.5% CAGR through 2030. Asia Pacific is expected to be the fastest growing region due to large electronics and automotive manufacturing bases in China, Taiwan, India and South Korea.

Key players operating in the ultra-thin glass market are Corning Inc., AGC Inc., Schott AG, Nippon Electric Glass Co., Ltd., Central Glass Co., Ltd., Xinyi Glass Holdings Limited, AIR-CRAFTGLASS, NOVALGLASS, and Taiwan Glass Group. Key players are investing in R&D to develop new products and production technologies to strengthen their positions in the market.

Read More: https://www.rapidwebwire.com/ultra-thin-glass-market-demand-growth-and-regional-outlook-by-2030/