Market Introduction
APAC comprises prospective economies such as China, Japan, South Korea, India, Australia, and the Rest of Asia-Pacific. The ultra-thin glass market across the region is projected to witness remarkable growth, owing to the rapidly expanding consumer electronics industry in countries such as China, Japan, and South Korea. China is one of the largest consumer electronics markets across the world, along with Japan and South Korea. Due to the high concentration of consumer electronics manufacturers in Asia-Pacific, the demand for ultra-thin glass from the manufacturers of electronic goods across the region is expected to grow significantly over the forecast period. Moreover, China and Japan are the leading exporters of semiconductor components used in electronic gadgets. Many leading manufacturers of smartphones and electronic gadgets heavily rely on Asia-Pacific countries for sourcing semiconductor components. For chip packing and interposer applications, the semiconductor industry is progressively designing products using thin glass substrates. When organic substrate materials are employed, the locally generated heat of the small core parts of mobile devices causes deflection and reliability issues. Ultra-thin glass has excellent dimensional stability over a wide range of temperatures while also providing the foundation for an exceedingly flat chip package. Thus, the increasing utilization of ultra-thin glass for designing electronic goods across the region is projected to potentially drive the market over the forecast period.
The COVID-19 pandemic is causing a significant economic loss in APAC. The consequence and impact can be even worse, and they totally depend on the spread of the virus. The Asian economies have been hit hard due to the pandemic. The emergence of new COVID-19 waves in India, Thailand, and other Asian economies has prolonged the effect of pandemic on GDP. The ongoing COVID-19 pandemic is causing huge disruptions in the growth of various industries across APAC. However, the uncertainty regarding the outbreak, especially in Asian countries such as India, has altered the status of several industrial sectors. The governments of various Asia-Pacific economies are taking possible steps to restrict the spread of the virus by announcing country-wide lockdown, which directly impacts the growth of industrial sectors. The crisis may disrupt the demand for ultra-thin glasses. However, the ultra-thin glass market in APAC is expected to witness an increase in investment by players to tap the prevailing opportunities and cater to expanding demand for ultra-thin glasses in post-pandemic times.
Market Overview and Dynamics
The ultra-thin glass market in APAC is expected to grow from US$ 4,002.71 million in 2021 to US$ 9,043.86 million by 2028; it is estimated to grow at a CAGR of 12.3% from 2021 to 2028. The rising demand for LED and OLED televisions is boosting the market growth across the region. Manufacturers of flat panel displays in China, South Korea, and Taiwan are dominating the global marketplace in terms of production and supply of flat panel displays. These displays can be found in cars, industrial equipment, personal computers, smartphones, and a variety of other goods. Liquid crystal displays are used in the majority of TV screens (LCDs). Other display types used in televisions include organic light-emitting diodes (OLEDs) and quantum dots. LCDs and OLEDs are used in smartphone displays. Thus, the high concentration of flat panel displays manufacturers in Asia-Pacific, coupled with the high utilization of ultra-thin glass in designing flat panel displays, is the crucial factor anticipated to further drive the market in the coming years. Furthermore, the growing application of ultra-thin glass by automobile manufacturers in China, India, and South Korea is driving the market. China, as one of the significant producers of automobiles, has a high need for ultra-thin glass for use in various automotive interior panels. Furthermore, the existence of significant players such as AGC Inc. and Nippon Electric Glass Co., Ltd is projected to fuel the market expansion.
Key Market Segments
APAC ultra-thin glass market is segmented into manufacturing process, application, end-use industry, and country. Based on manufacturing process, the APAC ultra-thin glass market has been divided into float, fusion. Fusion segment held the largest market share in 2020. Based on application, the APAC ultra-thin glass market has been divided into semiconductor substrate, flat panel displays & touch control devices, automotive glazing, others. Flat panel display segment held the largest market share in 2020. Based on end-use, the APAC ultra-thin glass market has been divided into consumer electronics, automotive, medical & healthcare, others. Consumer electronics segment held the largest market share in 2020. Based on country, the APAC ultra-thin glass market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the ultra-thin glass market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AGC Inc.; Central Glass Co., Ltd.; Corning Incorporated; CSG Holding Co., Ltd.; Emerge Glass; Nippon Electric Glass Co., Ltd.; Luoyang Glass Co., Ltd.; Nippon Sheet Glass Co., Ltd; SCHOTT AG; and Xinyi Glass Holdings Limited.
Reasons to buy report
APAC Ultra-Thin Glass Market Segmentation
APAC Ultra-Thin Glass Market - By Manufacturing Process
APAC Ultra-Thin Glass Market - By Application
APAC Ultra-Thin Glass Market - By End-Use Industry
APAC Ultra-Thin Glass Market - By Country
APAC Ultra-Thin Glass Market - Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 4,002.71 Million |
| Market Size by 2028 | US$ 9,043.86 Million |
| CAGR (2021 - 2028) | 12.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Manufacturing Process
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific Ultra-Thin Glass Market is valued at US$ 4,002.71 Million in 2021, it is projected to reach US$ 9,043.86 Million by 2028.
As per our report Asia Pacific Ultra-Thin Glass Market, the market size is valued at US$ 4,002.71 Million in 2021, projecting it to reach US$ 9,043.86 Million by 2028. This translates to a CAGR of approximately 12.3% during the forecast period.
The Asia Pacific Ultra-Thin Glass Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Ultra-Thin Glass Market report:
The Asia Pacific Ultra-Thin Glass Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Ultra-Thin Glass Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Ultra-Thin Glass Market value chain can benefit from the information contained in a comprehensive market report.
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