The global ultra-thin glass market is expected to grow at a compound annual growth rate (CAGR) of 10.1 per cent during 2017 to 2023 to reach $15,635.1 million by 2023, said a new report.

Factors propelling the growth of ultra-thin glass market include high demand of electronics and increasing use of lightweight materials for energy efficiency in various industries, Energias Market Research said in a report on global ultra-thin glass market.

The report segments the ultra-thin glass market by manufacturing process (fusion and float), by thickness (< 0.1 mm, 0.1-0.5 mm, 0.5-1.0 mm, and 1.0- 1.2 mm) by application (semiconductor substrates, touch panel displays, fingerprint sensors, automotive glazing, and others), by end-use (consumer electronics, automotive, biotechnology and others), and by region (North America, Europe, Asia-Pacific, South America, and Middle East and Africa). The report studies the global ultra-thin glass market over the forecast period (2017-2023).

Ultra-thin glass is a high-end glass, having thickness less than a single human hair. It provides advantages over other substrate materials such as plastics, metals, and silicon. Ultra-thin glass finds its application in various industries owed to its properties such as thermal stability, surface flatness, weather resistance, flexibility, light weight and superior optical quality. The most widely used manufacturing process for ultra-thin glass includes fusion and float methods. Both manufacturing processes require extremely precise temperature and power control to produce flawless molten glass and forming thin glass sheet to the required standards.

KEY FINDINGS

On the basis of manufacturing process, float process was dominating the ultra-thin glass market in 2016 and is anticipated to dominate the market, throughout the forecast period. The dominance of the aforementioned process is attributed to its adoption by most of the manufacturers.

On the basis of thickness, 0.5-1.0 mm was holding the largest share of ultra-thin glass market in 2016 as major applications areas utilise this thickness range.

On the basis of application, touch panel displays were holding a major share of global ultra-thin glass market in 2016.  Application in finger print sensors is expected to grow at a significant rate and register the highest CAGR, during the forecast period. The growth of finger print sensors segment is attributed to high sensitivity and electrical conductivity of ultra-thin glass. 

On the basis of end-use, the consumer electronics segment was holding the largest share of global ultra-thin glass market in 2016. The rising demand for ultra-thin glass in applications such as televisions, smart phones, and wearable devices is driving the growth of consumer electronics segment. 

Geographically, Asia-Pacific region was leading the ultra-thin glass market in 2016 and is anticipated to grow at a significant rate during the forecast period. High demand for ultra-thin glass mostly from Japan and China in industries such as consumer electronics, biotechnology, and automotive is driving the growth of ultra-thin glass market in this region.

Key players in ultra-thin glass market are Corning, Schott, Asahi Glass Co, Nippon Sheet Glass, Air-Craftglass, Changzhou Almaden, Emerge Glass India, Central Glass, Xinyi Glass Holdings, Aeon Industries, among others.

PHOTOVOLTAIC (PV) MODULES

Ultra-thin glass with a thickness less than 1 mm is one of the most favoured substrate materials for conventional displays and devices. Ultra-thin glass possesses outstanding characteristics such as transparency, flexibility, corrosion, and abrasion resistance, gas barrier capability, and surface smoothness hence it is used as a substrate for manufacturing various devices demanding these characteristics. The use of ultra-thin glass in photovoltaic (PV) modules significantly cuts down the weight of the complete photovoltaic panel structure with respect to known solutions and thus reduces the load on the building structure. Therefore, PV modules with ultra-thin glass can be installed on wider variety of buildings. Moreover, the reduction in the overall weight of the PV modules will lead to reduced transportation costs as well, the report said.

REGIONAL INSIGHT

Asia-Pacific was holding the largest market share of ultra-thin glass market in 2016 and is anticipated to continue holding the major market share, throughout the forecast period. Further, Asia-Pacific’s ultra-thin glass market is anticipated to grow at a significant rate and register the highest CAGR, during the forecast period. Countries such as Japan and China are expected to contribute majorly towards the market growth in this region, as there is a high demand for ultra-thin glass in consumer electronics, biotechnology and automobile industries. North America was holding the second largest share for global ultra-thin glass market in 2016 and is anticipated to grow at a progressive rate, over the forecast period. The US was the largest consumer for ultra-thin glass in North America. The growing demand for ultra-thin glass in automobile sector and continuous technological advancements and early adoption of consumer electronics are anticipated to boost the market growth in this region.