The escalating demand for consumer electronics propels the global glass substrate market. Key drivers include the need for high-resolution displays in smartphones, tablets, and TVs, leading to increased adoption of advanced glass substrates. These substrates support innovations like OLED technology, curved screens, and AR glasses. Wearable devices also contribute to the demand, requiring durable yet lightweight glass substrates. The market's growth is further fueled by collaborations between consumer electronics companies and glass substrate manufacturers to meet evolving technological demands and maintain competitiveness. Overall, consumer electronics' evolution drives innovation in glass substrate materials and processes, shaping the industry's trajectory.
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Data Bridge Market Research analyses that the Global Glass Substrate Market is expected to reach USD 11.30 billion by 2031, from USD 6.54 billion in 2023, growing with a CAGR of 7.3% in the forecast period of 2024 to 2031.
The adoption of demand due to the growing consumer electronics sector. This is driven by the necessity for high-resolution displays in smartphones, tablets, and televisions, prompting an increased adoption of advanced glass substrates. As a result, organizations across different sectors are increasingly investing in glass substrate solutions to modernize their manufacturing facilities and gain a competitive edge in the market.
Key Findings of the Study
Advancements in Display Technologies
The advancement in display technology is behind the increasing demand for glass substrates. With the evolution of display technologies such as OLEDs, curved screens, and augmented reality, there's a heightened need for specialized glass substrates to support these innovations. Additionally, the demand for higher resolutions and thinner form factors in devices like smartphones, tablets, and televisions necessitates the use of advanced glass substrates. As manufacturers strive to meet these technological demands and consumer preferences, they rely on collaborations with glass substrate suppliers to develop and produce substrates that meet the stringent requirements of modern display applications.
In today's market, glass substrate is a crucial component driving technological advancements in various industries. Its versatility and durability make it indispensable in applications ranging from consumer electronics, such as smartphones and televisions, to renewable energy, like photovoltaic solar panels. With the increasing demand for high-resolution displays, touchscreens, and advanced optical devices, the importance of glass substrates continues to grow. Moreover, innovations in glass manufacturing processes and materials are expanding its potential in emerging fields like biotechnology and automotive sensors. Overall, glass substrate plays a pivotal role in enabling cutting-edge technologies and shaping the landscape of modern industries.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Billion
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Segments Covered
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Type (Borosilicate Based, Fused Silica/Quartz Based, Silicon, and Others), Wafer Diameter (300 mm, 200 mm, 150 mm, 125 mm, Above 300 mm and Upto 100 mm), Application (Wafer Packaging, Substrate Carrier, and TGV Interposer), End-Use (Electronics, Optical Applications, Aerospace & Defense, Automotive & Solar, and Medical)
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Countries Covered
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U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Malaysia, Australia & New Zealand, Thailand, Indonesia, Philippines, Taiwan, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America
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Market Players Covered
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Avanstrate Inc. (Japan) , SCHOTT (Germany), Corning Incorporated (U.S.), AGC Inc. (Japan), HOYA Corporation (Japan), Dongxu Group Co., Ltd. (China), Irico Group New Energy Company Limited (China), TECNISCO, LTD (Japan), Nippon Electric Glass Co., Ltd. (Japan), Plan Optik AG (Germany), Ohara Inc. (Japan), among others
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis
The global glass substrate market is segmented into four notable segments, which are based on the basis of type, application, wafer diameter, and end-use.
- On the basis of type, the global glass substrate market is segmented into borosilicate based, fused silica/quartz based, silicon, and others
In 2024, borosilicate based segment is expected to dominate the Global Glass Substrate Market
In 2024, borosilicate based segment is expected to dominate the market with 42.17% market share due to its high efficiency and productivity across industries.
- On the basis of wafer diameter, the global glass substrate market is segmented into 300 mm, 200 mm, 150 mm, 125 mm, above 300 mm, and upto 100 mm
In 2024, 300 mm segment is expected to dominate the Global Glass Substrate Market
In 2024, 300 mm segment is expected to dominate the global glass substrate market with 45.62% due to cost efficiency and ease of use property.
- On the basis of application, global glass substrate market is segmented into wafer packaging, substrate carrier, and TGV interposer. In 2024, wafer packaging segment is expected to dominate the global glass substrate market with 51.96% market share
- On the basis of end-use, the global glass substrate market is segmented into electronics, optical applications, aerospace & defense, automotive & solar, and medical. In 2024, electronics segment is expected to dominate the global glass substrate market with 38.68% market share
Major Players
Data Bridge Market Research analyzes AvanStrate Inc. (Japan) , SCHOTT (Germany), Corning Incorporated (U.S.), AGC Inc. (Japan), and HOYA Corporation (Japan) as the major players operating in the market.
Market Development
- In April 2024, AGC Inc. obtained an Environmental Product Declaration (EPD) for architectural float glass from its Kashima facility. SuMPO validated the EPD by measuring the environmental effects from the acquisition of raw materials to manufacturing. This makes it easier for buyers to evaluate the environmental effect objectively. EPD-certified products help achieve green building certifications such as LEED, and they comply with building laws. In line with the purchase of EPDs, lowering environmental impact is a key component of AGC's medium-term objective. This action promotes green sourcing and buying, which improves AGC's chances of expanding in the building industry
- In January 2024, Schott and Lumus are expanded their relationship to address the growing global demand for optical AR spectacles. SCHOTT expanded its Malaysian manufacturing facility to produce Lumus new Z-Lens reflective waveguide architecture. The partnership aimed to support all stages of product development in consumer electronics, from prototype to mass-market manufacturing, making optical AR glasses more accessible to the general public
- In May 2023, Corning Incorporated announced a 20% price hike for its display glass substrates, affecting all regions globally. The move aims to counter rising energy and raw material costs amidst prolonged inflation. With a growing demand for display glass, driven by industry recovery and seasonal trends, Corning anticipates further growth. This strategic adjustment positions Corning for enhanced revenue and market expansion prospects amidst evolving market dynamics
- In April 2023, Schott presented new high-tech solutions for modern kitchens at AWE 2023 in Shanghai, China the innovations included Schott CleanPlus coating for easier cleaning and CERAN Luminoir glass-ceramic for dynamic cooktop designs. These products received positive attention and awards, showcasing Schott ag commitment to shaping the future of kitchen appliances
- In February 2019, HOYA Corporation initiated construction on a new facility for hard drive platter glass substrates this week. The ¥30 billion (USD 270.5 million) factory, located in Laos, is set to begin operations in early 2020. The move expands HOYA's production capabilities to meet demand for next-gen HDD platters. The advancement positions HOYA for growth amidst increasing preference for glass substrates in high-capacity HDDs over aluminum
Regional Analysis
Geographically, the countries covered in the global glass substrate market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Malaysia, Australia & New Zealand, Thailand, Indonesia, Philippines, Taiwan, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America.
As per Data Bridge Market Research analysis:
North America is expected to be the dominant and fastest growing region in the Global Glass Substrate Market
North America is expected to be the dominant and fastest growing region in the global glass substrate market due to presence of key players, robust technological advancements, and high demand driven by industries like electronics, automotive, and healthcare.
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