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The Impact Of Consumer Electronics Demand On The Glass Substrate Market: Strategic Insights Driving Glass Substrate Market Momentum in 2025
Glass Substrate
How Large Will the Glass Substrate Market Size By 2025?
In recent times, there has been a sturdy upward trajectory in the market size of glass substrates. It is projected to escalate from a worth of $7.9 billion in 2024 to $8.43 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%. Factors contributing to this growth during the historical period include a surge in solar power demand, expanded usage in the auto industry, heightened demand for energy-efficient glass substrates, an increase in the need for fast data transfer, and a rise in usage in industrial applications.
How Big Is the Glass Substrate Market Size Expected to Grow by 2029?
The market size of glass substrate is predicted to witness substantial growth in the coming years, escalating to $10.85 billion in 2029 with a 6.5% compound annual growth rate (CAGR). This growth during the forecast period is driven by the rising demand in consumer electronics, expanding applications in aerospace and defense, surge in usage in industrial infrastructure initiatives, intensified needs in the automotive and transportation sectors, and wide-scale use in medical equipment. Key trends during this projection period features the demand for high-grade products, incorporation of LCD's in automobiles, growth in demand for smart handheld gadgets, requirement for semiconductors, and increase in demand for high-definition displays.
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Which Key Market Drivers Powering Glass Substrate Market Expansion and Growth?
The expansion of the glass substrate market is anticipated due to the escalating demand for consumer electronics. Consumer electronics, which consists of various personal electronic gadgets such as smartphones, laptops, tablets, televisions, etc., are in a growth phase due to technological progress and the continual incorporation of smart characteristics into everyday devices. Glass substrates are augmenting these electronics by facilitating modern designs, bigger displays, and enhanced durability, particularly in smartphones and tablets. For example, the Japan Electronics and Information Technology Industries Association, a trade union based in Japan, reported that the total production of electronic devices in Japan was $48,86,350 million (¥771,457 million) in May 2023. Moreover, the production of consumer electronics touched $2,033,126 million (¥32,099 million) in May 2023, an increase from $1,600,456 million (¥25,268 million) in May 2022. Consequently, the surging demand for consumer electronics is boosting the growth of the glass substrate market.
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Which Fast-Growing Trends Are Poised to Disrupt the Glass Substrate Market?
Key players in the glass substrate market are focusing on creating innovative products, including high-performance glass substrates, to improve the functionality and durability of advanced electronics, display technology and renewable energy systems. These high-performance glass substrates are specialized glass materials created to show superior characteristics like excellent optical clarity, thermal stability, resistance to chemicals, and high mechanical strength. For instance, in September 2023, Intel Corporation, a semiconductor firm based in the US, introduced the industry's leading glass substrates tailored to cater to the rising need for greater computing power. These inventive substrates are designed to better thermal management and electrical insulation, paving the way for the creation of robust and effective computing systems. By utilizing the distinctive attributes of glass, Intel's new substrates exhibit improved thermal conductivity and decreased thermal resistance, facilitating the development of high-performance computing solutions capable of managing increasingly intricate tasks.
What Are the Emerging Segments in the Glass Substrate Market?
The glass substrate market covered in this report is segmented -
1) By Type: Borosilicate Based, Fused Silica And Quartz Based, Silicon, Other Types
2) By Wafer Diameter: 300 mm, 200 mm, 150 mm, 125 mm, Above 300 mm, Upto 100 mm
3) By Application: Wafer Packaging, Substrate Carrier, TGV Interposer
4) By End User Industry: Automotive, Aerospace and Defense, Healthcare, Solar Power, Electronics, Other End User Industries
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Who Are the Global Leaders in the Glass Substrate Market?
Major companies operating in the glass substrate market are Asahi Glass Co. Ltd., Corning Incorporated, Toppan Inc., HOYA Corporation, Guardian Glass, Schott AG, Nippon Electric Glass Co. Ltd., Dongxu Group Co. Ltd., China Glass Holdings Limited, Viracon Inc., IRICO Group Electronics Co. Ltd., OHARA Inc., GIO Optoelectronics Co. Ltd., Tecnisco Ltd., 3D Micromac AG, SwissOptic AG, Abrisa Technologies Co., Kopp Glass Inc., Swift Glass Company, Rayotek Scientific Inc., Mo-Sci Corporation, Foshan Xingang Glass, Precision Glass & Optics (PG&O), The Tunghsu Group, Plan Optik AG
Which are the Top Profitable Regional Markets for the Glass Substrate Industry?
North America was the largest region in the glass substrate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glass substrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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