LONDON–(BUSINESS WIRE)–The global ultra-thin glass market size is poised to grow by USD 9.13 billion during 2020-2024, progressing at a CAGR of almost 12% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The ultra-thin glass market is driven by the increasing demand for flat panel displays. Consumers are demanding bigger displays in liquid-crystal display (LCD) televisions, smartphones, automotive, and tabs; out of these applications, TV screen size is expected to be the biggest force during the forecast period. The flat panel displays in the automotive industry are driven by the demand for larger central information displays (CIDs) and the growth of smart cars, which use advanced driver assistance systems (ADAS). The ultra-thin glass-based displays are lightweight, flexible, highly responsive, ultra-clear, and provide optimum electric resistance. Hence, ultra-thin glass is extensively used in the production of flat panel display products such as flat-screen televisions, laptops, flat-panel monitors, smartphones, and smart wearables.
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Report Highlights:
- The major ultra-thin glass market growth came from the consumer electronics segment in 2019. However, the photovoltaic and energy storage segment is expected to grow at a faster rate during the forecast period.
- APAC was the largest ultra-thin glass market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to the growth in the production of consumer electronics, ultra-thin solar cover glasses, and ultra-thin automotive head-up displays.
- The global ultra-thin glass market is fragmented. AGC Inc., Central Glass Co. Ltd., China Luoyang Float Glass Group Co. Ltd., Corning Inc., CSG Holding Co. Ltd., Nippon Electric Glass Co. Ltd., Nippon Sheet Glass Co. Ltd., SCHOTT AG, Taiwan Glass Ind. Corp., and Xinyi Glass Holdings Ltd. are some of the major market participants. To help clients improve their market position, this ultra-thin glass market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global ultra-thin glass market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we revaluate the impact on businesses and update our report forecasts.
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Read More: Global Ultra-thin Glass Market | Increase in Demand for Flat Panel Displays