Press release
Impact Of Covid 19 Ultra-thin Glass Market Booming Worldwide by 2026 | Top Key Players - Corning Inc, Nippon Sheet Glass Co., Ltd., Schott AG, Pilkington
Ultra-thin Glass Market
Ultra-thin glass market share is expanding as robust advances in glass technology have enabled developers to design glass thinner than a strand of human hair, that is strong and flexible enough to be incorporated into a wide range of hi-tech applications. Ultra-thin glass technology is being widely used to add cutting-edge features in modern smartphones, including display panels, substrates for flexible displays and wearables, cover glasses, camera systems, and fingerprint and bio sensors.
In terms of the thickness, 0.5mm to 1.2mm glass segment will record a revenue share of over US$1 billion over the same period annually. It is being largely used in automotive applications for weight reduction. The glass also has immense potential for use in modern infrastructure as a lightweight functional and aesthetic element.
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Downdraw process, float process, and overflow-fusion process are among the common technology used for ultra-thin glass production. Downdraw process segment constituted over 7% of the revenue share of ultra-thin glass industry in 2019 and will witness a robust demand in the future. This process for ultra-thin glass production is mainly preferred due to its ability to offer a flawless finish and a superior product quality. Glass manufactured through the process exhibits high flexibility, robust durability, and a smooth surface finish.
Flat panel displays, touch control devices, and semiconductor substrate are some of the major applications of ultra-thin glass. Flat panel display devices captured over 50% revenue share of ultra-thin glass industry and will continue to dominate the market over the next few years. These trends can be largely associated with widespread adoption of advanced consumer electronics among consumers and growing implementation in automotive display technologies.
From a regional point of view, North America ultra-thin industry size is projected to witness a healthy CAGR of 10.2% through 2026, with a well-established consumer electronics consolidated with the presence of several electronics giants. Meanwhile, the ultra-thin glass industry size in Asia Pacific is likely to grow at a CAGR of 13.1% through 2026, with growing consumer attraction towards next-generation smart gadgets.
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Corning Inc, Nippon Sheet Glass Co., Ltd., Schott AG, Pilkington, and AGC Inc, are a few prominent players constituting global ultra-thin market. In June 2020, Samsung had incorporated Corning’s ultrathin glass on its Galaxy Fold 2 smartphone.
The global COVID-19 pandemic has had a dual impact on the global electronics industry over the past several months. The first quarter of 2020 experienced weakened demand and declining sales of electronics due to logistics slowdown and unavailability of workforce. Additionally, several ecommerce companies had discontinued the delivery of non-essential goods and products.
However, the past few months have been witnessing growing online sales of electronics and other products. According to Adobe Analytics, U.S. online sales of electronics and many other products for August and September increased 42% and 43% year over year respectively. In the upcoming holiday season, various sales and discount offers introduced by ecommerce players will certainly boost online electronics sales across the globe.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
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