LOS ANGELES, Feb. 06, 2020 (GLOBE NEWSWIRE) -- The Global Ultra-Thin Glass Market is expected to grow at a CAGR of around 9.8% during the forecast period 2019 to 2026 and reach the market value of around US$ 25.01 Bn by 2026.
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Asia- Pacific dominated the global ultra-thin glass market in the year 2018. Different huge purposes behind the predominance of Asia-Pacific are the factors like increased demand from end-user industries such as consumer electronics, automotive, biotechnology of rising economies of the Asia-Pacific like China, Japan and Asian nation. The rising demand for flat panel displays particularly in China, India, and south korea. China holds nearly 50% of the world flat panel show fabrication plants followed by south korea. large led and LED manufacturing firms are increasing in to these countries to fulfill the growing demand from customers. In may 2018, Corning Incorporated opened a new digital display glass substrate manufacturing facility in Anhui province, China. The plant produces TFT- grade info ten.5 substrates and uses are Corning’s Slim glass in the manufacturing method. this is anticipated to propel the market growth in the region.This growth is attributable to the increasing demand for client electronics in the developing countries in the region like China and India. The rising disposable income of the mid-earning people of the region is the major factor responsible for this demand.
Europe is expected to register the highest CAGR during the forecast period. The growth is driven by the propelling demand for LCDs, LEDs, solar energy, and automotive sectors. this can be likely to increase the use of the product over the coming years. according to solar energy Europe, European’s renewable target of 40% gas emission reduction. The countries within the region like germany is likely to feature 8GW of star electrical phenomenon capability installation to satisfy the renewable target. This can be anticipated to extend the product demand over the coming years.
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Flat Panel Displays has dominated the offering segment in the year 2018 and the segment is projected to maintain its dominance over the forecast period.The section is largely driven by increasing demand from consumer electronics like LEDs and LCDs. TV panel makers are investing heavily in large-size screens. In december 2017, BOE Technology cluster Co., Ltd., a Chinese electronic elements producer increased its info 10.5 TFT-LCD assembly line OH 65 in. and 75 inch displays in Hefei, Anhui province, China. This in turn is expected to boost the product utilization over the coming years.
The float manufacturing process is widely used by the manufacturers and hence dominates the ultra-thin glass market by manufacturing segment in 2016. Float glass is manufactured using a melt process, where recycled glass, silica sand, lime, potash and soda are melted in a furnace and floated onto a bed of molten tin.The molten mass solidifies slowly while flowing over the bed of molten tin, after which it is annealed to remove stresses induced during the cooling process. Annealing also allows the glass to reach a more stable state resulting in a higher density and higher refractive index. Tinted float glasses are made by adding coloring agents during the melting process. Common colors include grey and bronze tints made from iron, cobalt and selenium, green tints made with iron, and blue tints made from cobalt and iron.
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Some of the key manufacturing companies include in the global ultra-thin glass market are Corning (US), Asahi Glass (Japan), Nippon Electric Glass (Japan), CSG Holding (China), SCHOTT (Germany), Nippon Sheet Glass (Japan), Central Glass (Japan), Xinyi Glass (China), Nittobo (Japan), Luoyang Glass (China), Changzhou Almaden (China), Air-Craftglass (Netherlands), Emerge Glass (India), AviationGlass & Technology (Netherlands), AEON Industries (China), and Suzhou Huadong Coating Glass (China) are operating in this market.
Some of the key observations regarding global ultra-thin glass industry include:
- In July 2018, Xiaomi launched a new smartphone named Hongmi Note 5 in Seoul, South Korea which uses a tempered ultra-thin glass of 0.3 mm thickness. With this launch the company expanded its presence in South Korea. The rising smartphone production along with the increasing display sizes of other electronic devices is likely to remain a key factor for the flat panel displays.
- In 2018, the smartwatch shipments for Apple, Fitbit, Samsung, and Garmin were 22.5 million units, 5.5 million units, 5.3 million units, and 3.2 million units respectively. Thus, increased production of smartphones and smartwatches is likely to augment the growth of the ultra-thin glass industry.
- In May 2014, AGC launched a new product named SPOOL, an ultra-thin sheet glass that is used in flexible displays, organic LEDs, and touch panels to expand its product portfolio into various applications.
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