NEW YORK, May 5, 2021 /PRNewswire/ --
The "Ultra-thin Glass Market by End-user and Geography - Forecast and Analysis 2020-2024" report has been added to Technavio's offering.
The ultra-thin glass market is poised to grow by USD 9.13 billion between 2020-2024, progressing at a CAGR of almost 12% during the forecast period.
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Flat-panel display products such as flat-screen televisions, laptops, flat-panel monitors, smartphones, and smart wearables are extensively produced by using ultra-thin glass. This is because these glasses are lightweight, flexible, highly responsive, ultra-clear, and provide optimum electric resistance. Moreover, consumers are demanding bigger displays in liquid-crystal display (LCD) televisions, smartphones, automotive, and tabs. Out of these, TV screen size is expected to be the biggest force during the forecast period. the demand for CIDs and increased use of ADAS in smart cars boost the growth of flat panel displays in the automotive industry. The growth in end-user industries offering flat-panel display-based products will have a significant influence on the demand for ultra-thin glasses across the globe. Hence, the increasing demand for flat panel displays is expected to boost the sales of ultra-thin glass.
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64% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for ultra-thin glass in APAC. Market growth in this region will be faster than the growth of the market in other regions. Ultra-thin glass market growth in this region over the forecast period can be attributed to the growth in the production of consumer electronics, ultra-thin solar cover glasses, and ultra-thin automotive head-up displays.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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The ultra-thin glass market is segmented by end-user (consumer electronics, photovoltaic and energy storage, lighting, and others) and geography (APAC, North America, Europe, MEA, and South America).
Consumer electronics are used in smartphones, television, and wearable devices. Owing to their properties, such as lightweight, ultra-smoothness, transparency, flexibility, and improved electrical resistance, ultra-thin screens are finding extensive use in manufacturing light-emitting diode (LED) and organic LED (OLED) display panels. Hence, the consumer electronics segment is expected to be the major end-user of the ultra-thin glass market in the forecast period.
The market is fragmented due to the presence of a considerable number of vendors. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports.
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