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Ultra-Thin Glass Market to 2024 –Global Market Size, Development Status, Top Manufacturers, and Forecasts

PUNE, INDIA, July 18, 2019 /EINPresswire.com/ --
WiseGuyReports.Com Publish a New Market Research Report On –“ Ultra-Thin Glass Market to 2024 –Global Market Size, Development Status, Top Manufacturers, and Forecasts”.

Ultra-Thin Glass Industry 2019

Description:-

Ultra-thin glass is thinner than human hair and have thickness below 2 mm. It provide excellent properties such as lightweight, weather durability, thermal stability, and flexibility which make them suitable for usage in numerous end use industries such as automotive, electrical & electronics, biotechnology, renewable energy, building & construction, and others.

The global ultra-thin glass market is projected to reach USD 20,799.8 million by 2024 at a CAGR of 11.88% during the forecast period. Among the manufacturing process segment, float accounted for the largest market share in 2017 with a value of USD 3,627.3 million and is likely to expand with a significant CAGR of 13.03% during the review period on account of high adoption rate in the various end-use industries. Based on thickness, 0.5-1.0 mm thickness segment hold for the largest market share in 2017 and is projected to expand significantly in the upcoming years owing to increased usage in tablets, laptops, smartphones, and other smart devices. 1.0-1.5 mm thickness segment is the fastest growing segment and is predicted to reach USD 4,465.7 million by 2024. Based on application, touch panel display was the leading application segment in 2017 and is predicted to retain its dominance with an estimated value of USD 6,378.2 million by 2024 due to rising usage in portable devices. Semiconductors application segment is the fastest growing application segment and is expected to reach USD 3,947.7 million over the assessment period.

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Among the end use industry segment, electrical & electronics accounted for the largest market share in 2017 with a value of USD 4,582.1 million and is estimated to expand with a healthy CAGR of 12.33% during the review period. Rising per-capita disposable income along with emergence of internet of things devices is expected to fuel the segmental growth. Automotive industry is predicted to be the fastest growing end use industry and is estimated to reach around USD 4,553.7 million by 2024 due to increasing demand for automobiles in emerging economies.
Asia Pacific has dominated as the dominant region in the global ultra-thin glass market and holds the maximum market share, in terms of both volume and value. In the Asia Pacific region, China emerged as the largest market for ultra-thin glass in 2017 and is expected to be the fastest growing ultra-thin glass market in the region due to robust presence of electrical & electronics and automotive industries in this country.
FIGURE 1 Global Ultra-Thin Glass Market, by Application, 2017 (%)

Regional Analysis

On the basis of region, the global ultra-thin glass market is categorized into five regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Asia pacific emerged as the leading market in ultrathin glass and holds for around 59% market share in 2017 and is predicted to witness a lucrative growth in the near future. The region accounted for around USD 5,632.1 million in terms of value in 2017 and is expected to grow at a significant CAGR of around 12.57% over the assessment period due to rising consumption in numerous end-use industries such as electrical & electronics, automotive, and building & construction. Regional growth of ultrathin glass market is mainly attributed to the growing demand from the automotive and electrical & electronics industry along with expanding population and growing purchasing power specifically in developing countries such as China, India, Thailand, and South Korea. Asia Pacific is followed by North America. North America accounted for around USD 1,527.4 million in 2017 and is projected to grow at a significant CAGR of 11.48% over the assessment period. In North America, U.S. accounted for around 80% market share and is estimated to grow at a significant CAGR of 11.76% on account of increasing demand for consumer electronic devices such as wireless speakers and rising popularity of streaming digital media.

North America is further trailed by Europe in ultra-thin glass market across the globe in 2017, and observed significant growth owing to the strong presence of automotive manufacturers in this region. In Europe, countries such as the France, U.K, Spain, and Germany are among the leading contributors to the regional market share owing to expanding automotive sector in this region. Developing countries of the Middle East and Africa and Latin America are expected to witness an above average growth due to growing consumer base for the biomedical and automotive industry along with the continuous growth in building & construction activities specifically in Turkey, Kuwait, and the UAE.
Segmentation

Researcher in its report has offered a segmental analysis of the market by manufacturing process, thickness, application, end use industry, and region. Based on the manufacturing process, the market is classified into float, fusion, and down-draw. Based on thickness, ultra-thin glass market is categorized into < 0.1 mm, 0.1-0.5 mm, 0.5-1.0 mm, 1.0-1.5 mm, 1.5-2.0 mm.

Based on the application, the ultrathin glass market is classified into touch panel display, semiconductors, fingerprint display, automotive glazing, lightweight assemblies, medical device, solar mirrors, and others. Based on the end-use industry, the market is segmented electrical & electronics, automotive, biotechnology, renewable energy, building & construction, and others. Based on the region, the market is segmented into Latin America, North America, Asia Pacific, Europe, and the Middle East & Africa.

Key Players
Some of the key manufacturers operating in the global ultra-thin glass market are Corning Incorporated, Asahi Glass Co., Ltd, Nippon Electric Glass Co., Ltd, SCOTT AG, CSG Holding Co., Ltd, Central Glass Co., Ltd, Xinyi Glass Holdings Limited, Nitto Boseki Co., Ltd, Luoyang Glass Co., Ltd, Emerge Glass, Aeon Industries Corporation Ltd, Changzhou Almaden Co., Ltd, RUNTAI INDUSTRY CO., LTD, TAIWAN GLASS IND. CORP, and Novalglass.

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Norah Trent
wiseguyreports
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