NEWARK, Del, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global ultra-thin glass market size is anticipated to see a CAGR of 10.7% from 2023 to 2033. By 2033, it is set to exceed a valuation of US$ 29.5 billion. The market is expected to be worth US$ 10.7 billion in 2023.
Ultra-thin glass can be made to be far more flexible than regular glass. They should be perfect for flexible screens, wearable technology, and cell phones. The recent millennial craze for foldable cell phones could boost demand.
The design of new foldable cell phones is such that they can appeal to buyers who want distinctive items aesthetically. Millennials who wish to differentiate themselves from traditional flat phones are anticipated to buy these.
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By 2033, smartphone manufacturers such as Samsung and Oppo are anticipated to release several foldable phone models. This is because these businesses frequently work to be on the cutting edge of technology advancements. Additionally, it is anticipated that this will enhance the brand's reputation.
Several people view foldable cell phones as a status symbol as they are typically more expensive than traditional flat-screen phones. Hence, it is likely that luxury companies will sell these phones.
For instance, the much anticipated foldable smartphone from OnePlus, the OnePlus Fold, will soon be available. In 2023, the company might release its first folding product.
Even though OnePlus hasn't formally confirmed the launch, the upcoming phone will undoubtedly go on sale. It might be able to compete with seasoned rivals such as Motorola and Samsung, who have been active in the foldable phone sector for years.
Remote locations and non-metros are likelier than metro areas to adopt Samsung's foldable and flip phones. Buying these cell phones has become easier as additional financing options are accessible.
Samsung claimed in August 2023 that 1,50,000 pre-orders for its fifth-generation foldable smartphones, unveiled in India in July, had been placed. While the Galaxy Z Flip5 is marketed to a younger audience, the Galaxy Z Fold5 is intended for business users.
Due to their affordability, materials such as polymer and plastic were employed in older flat phones. However, as ultra-thin glass is more durable than the alternative, smartphone manufacturers use it in foldable phones. This is designed to withstand frequent unfolding and folding without causing screen damage.
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Key Takeaways from the Ultra-thin Glass Market Study
- The global ultra-thin glass industry exhibited a robust CAGR of 13.7% in the historical period between 2018 and 2022.
- The United States ultra-thin glass industry is anticipated to generate an entire earnings outlook of US$ 3.4 billion from 2023 to 2033.
- The United Kingdom's ultra-thin glass industry is expected to gain a comprehensive revenue scope of US$ 729.9 million through 2033.
- In terms of manufacturing process, the float segment is likely to witness a CAGR of 10.2% in the review period.
- In terms of thickness, the less than 0.1 mm segment is expected to register a CAGR of 10.0% in the assessment period.
“The healthcare sector has experienced significant growth in the past five years. Top medical device makers are incorporating ultra-thin glass into diagnostic instruments, imaging technology, and wearables to improve remote patient monitoring. Manufacturers of ultra-thin glass would plan to collaborate with international governmental organizations. They can decide to use their output for agricultural purposes.” – says a lead analyst at Future Market Insights (FMI).
Competitive Landscape
With diverse small- and large-scale businesses, the ultra-thin glass industry is highly fragmented worldwide. To meet the shifting consumer needs, they are primarily concentrating on developing innovative products.
Leading companies are developing cutting-edge eyewear to sell to recognized smartphone manufacturing companies. There will soon be more options for foldable smartphones due to the high demand for them. To create success, they are also engaging in research and development initiatives.
For instance,
- Galaxy foldables are revolutionizing what is possible for smartphone users worldwide with their inventive experiences and interactions. Key element of Samsung's foldable devices is ultra-thin glass. It is a special material that keeps its tensile strength and durability even after being folded hundreds of times or more.
Scope of the Ultra-thin Glass Market Report
| Attribute | Details | |
| Estimated Market Size (2023) | US$ 10.7 billion | |
| Projected Market Valuation (2033) | US$ 29.5 billion | |
| Value-based CAGR (2023 to 2033) | 10.7% | |
| Historical Data | 2018 to 2022 | |
| Forecast Period | 2023 to 2033 | |
| Quantitative Units | Value (US$ billion) | |
| Segments Covered |
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| Regions Covered | North America, Latin America, East Asia, South Asia Pacific, Western Europe, Eastern Europe, Middle East & Africa | |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, Italy, France, United Kingdom, Spain, Russia, GCC Countries, India, China, Japan and Australia | |
| Key Companies Profiled |
| |
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Get More Valuable Insights into the Ultra-thin Glass Market Report
The latest report offers an unbiased analysis of the ultra-thin glass market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.
The market has been analyzed based on the manufacturing process (float, fusion, others), thickness (less Than 0.1 mm, 0.1 to 0.5 mm, 0.5 to 1.0 mm, 1.0 to 1.2 mm), application (touch panel display, semiconductor substrates, fingerprint sensors, others), and end use (consumer electronics, automotive & transportation, medical & healthcare, others) across several regions.
About the Chemicals and Materials Division at Future Market Insights (FMI)
The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials sector. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on ‘green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – ‘The Way Forward’.
About the Author
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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