Press release
Ultra-thin Glass Market Grow with a CAGR 2021-2027 Focuses On Top Companies, Region And Opportunities
According to the report published by Allied Market Research, the global ultra-thin glass market generated $9.5 billion in 2019, and is expected to reach $16.6 billion by 2027, witnessing a CAGR of 7.2% from 2020 to 2027. The report offers a detailed analysis of changing market trends, top winning strategies, key segments, Porterβs Five Forces, value chain, and competitive landscape.Increase in demand for consumer electronics such as smartphones and TVs along with changing lifestyles and increasing disposable income of consumers drive the growth of the global ultra-thin glass market. However, high cost of raw materials and availability of low-cost alternatives including plastics restrict the market growth. On the other hand, rise in usage of solar products would present new opportunities in the next few years.
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Covid-19 Scenario:
Manufacturing activities of ultra-thin glass were halted due to the lockdown imposed by many countries. In addition, the supply of raw materials had been hindered.
Owing to decline in sales and production activities in the automotive sector, the demand for ultra-thin glass reduced significantly. Similar is the case with the consumer electronics sector. The production activities came to standstill due to lockdown and sales through online and offline mediums dropped considerably.
Though extended lockdowns slowed down production activities of ultra-thin glass, these activities gained momentum as facilities begin their operations with an optimum capacity of workforce.
However, the demand would grow steadily from consumer electronics and automotive sectors as they began their day-to-day operations.
The report provides detailed segmentation of the global ultra-thin glass market based on thickness type, application, and region.
Based on thickness type, the 0.1mm-0.5mm segment accounted for the highest share in 2019, accounting for more than half of the total share, and will maintain its lead position during the forecast period. Moreover, this segment is expected to portray the highest CAGR of 7.6% from 2020 to 2027. The report also provides an analysis of segments including
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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