LONDON, Aug. 21, 2017 /PRNewswire/ -- Download the full report: https://www.reportbuyer.com/product/5068587/
The global scratch resistant glass market is expected to reach USD 8.17 billion by 2025, according to a new report by Grand View Research, Inc.
The growing sales for premium smartphones coupled with growing concerns regarding screen strength is expected to drive market growth.
The demand for scratch resistant glass is the highest LCD/LED manufacturing. The growing demand for sapphire glass and gorilla glass in display applications is expected to drive market growth over the forecast period. The introduction of new display devices with high resolution and increased screen size is boosting the application of scratch resistant glass as these products require glass equipped with anti-cracking properties.
North America accounted for the maximum market share owing to rise in startups involved in the manufacturing of sustainable lighting solutions and connected devices under the Internet of things (IoT) product category. The growing demand for OLED's and wearables is expected to further augment the consumption of scratch resistant glass over the forecast period. Asia Pacific market is expected to grow rapidly over the forecast period owing to rising demand for budget smartphones.
Further key findings from the report suggest:
• Smartphone application segment is anticipated to grow at a CAGR of 10.8% from 2017 to 2025 owing to increasing demand for smartphones with high screen toughness.
• Automotive application segment is projected to grow at a CAGR of 9.9% from 2017 to 2025 owing to research on in car infotainment and improving the passenger safety.
• Asia Pacific market share is expected to reach over 30% in 2025 owing to rise in local demand backed by growing smartphone manufacturing activity in the region.
• Middle East & Africa is projected to grow at a CAGR of 8.1% from 2017 to 2025 owing to growing demand for smartphones and LED lighting solutions.
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