Rising Demand for Flexible Electronics Driving Ultra-Thin Glass Market Growth

 

The Ultra-Thin Glass Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Ultra-thin glass is a non-silicate glass under 1mm thick that is increasingly being used in touch panels, displays and cover glass applications. Its ultra-thin profile offers advantages in terms of durability, light weight and flexibility.

Market Dynamics:

The ultra-thin glass market is expected to witness significant growth over the forecast period owing to rising demand from consumer electronics such as smartphones, tablets and wearable devices. The smartphone and tablet industries have been a major driver of ultra-thin glass demand with manufacturers favoring edge-to-edge screens requiring ultra-thin cover glass panels. Additionally, growth in the wearable device sector is also fueling market demand as smart watches and smart glasses utilize ultra-thin glass to enable a lightweight and durable form factor ideal for electronic accessories. The broader trend of miniaturization and performance enhancement across various electronics is working in favor of ultra-thin glass which allows for innovative product designs.

Ultra-Thin Glass Market Drivers:

Increasing smartphone adoption driving demand for ultra-thin glass

The widespread adoption of smartphones across the globe has been one of the major factors contributing to the growth of the ultra-thin glass market. Smartphone manufacturers are constantly looking for ways to make their devices thinner, lighter, and more aesthetically pleasing in order to attract more consumers. Ultra-thin glass plays a critical role in achieving these design goals as it allows for much thinner screen profiles compared to conventional glass. According to research, over 6 billion smartphones were shipped globally in 2020 alone, highlighting the massive scale of this industry. As long as smartphone sales continue climbing, the need for ultra-thin cover glass and displays will also rise significantly.

Growing demand from wearables industry propelling market growth

The burgeoning wearables industry comprising smartwatches, smart glasses, VR/AR headsets etc. has emerged as another major end-use sector driving demand for ultra-thin glass. Similar to smartphones, wearable device manufacturers are constantly under pressure to miniaturize their products and make them as lightweight as possible for enhanced comfort and portability. Ultra-thin glass is perfectly suited to meet these requirements. Statistics show annual shipments of smartwatches have more than doubled between 2016-2020. Meanwhile, the global AR/VR market value is projected to rise from $6.1 billion in 2016 to $209.2 billion by 2025. As innovative wearable products continue gaining widespread consumer adoption, ultra-thin glass uptake is likely to surge commensurately.

Ultra-Thin Glass Market Restrain:

High production costs pose challenges for widespread commercialization

One of the key factors restraining the ultra-thin glass market's growth is its relatively high production costs compared to conventional glass sheets. Producing glass that is just 0.1mm thick or less is an extremely complex manufacturing process involving precise temperature and pressure controls. It also requires specialized production lines built with more advanced machinery than traditional float glass lines. All these factors contribute to significantly higher capital and operating expenditures for ultra-thin glass production. While costs have reduced considerably over the past decade due to technological advancements, ultra-thin glass still remains considerably more expensive than regular glass. This high price point poses challenges for its mass adoption across diverse consumer electronics where cost is a major purchase consideration.

Ultra-Thin Glass Market Opportunity:

Rising demand for flexible displays opens new avenues

One of the most promising opportunities for ultra-thin glass manufacturers lies in the emerging flexible display market. Flexible displays are revolutionizing the consumer electronics space by enabling versatile form factors that were previously impossible with rigid glass. Major tech giants like Samsung, LG and BOE have already commercialized flexible OLED display-based products like foldable smartphones. The global flexible display market size is estimated to reach $31.85 billion by 2028, growing at a CAGR of above 35% during the forecast period. Flexible ultra-thin glass with bend radii of 5mm or less will be critical to effectively protect these flexible panels. This flexible characteristic allows it to be integrated into smartphones, tablets, laptops, wearables and other next-gen consumer devices with curved/foldable designs.

Ultra-Thin Glass Market Trends:

Advent of specialized production technologies reducing costs

One of the most significant trends impacting the ultra-thin glass industry is the ongoing advancement in specialized manufacturing technologies that are helping to reduce production costs substantially. Traditional float glass lines are being replaced by tailored technologies like down-draw, fusion, and slot-drawing that provide finer control over ultra-thin glass thickness. Meanwhile, precision polishing and strength-enhancing post-processing techniques minimize glass defects and wastage. Automation is also being increasingly adopted to enhance productivity and yield rates. As a result of these technological upgrades, ultra-thin glass production costs are declining at a promising pace. For instance, costs are projected to drop below $1 per square meter by 2025 compared to $5-10 per square meter a few years ago. This ongoing reduction in pricing through optimized manufacturing is expected to boost ultra-thin glass commercialization across various industries going forward.