Global Glass Substrate Market - 2022-2029

Global Glass Substrate Market - 2022-2029

Market Overview

Glass substrate market reached US$ XX million in 2021 and is estimated to record significant growth by reaching up to US$ XX million by 2029, growing at a CAGR of 5.7% during the forecast period (2022-2029).

Glass substrates are a primary foundation for a wide range of optical devices. Glass blanks are ground, coated and polished for mirrors and lenses. Optical windows serve as a basic glass upon which filtering coatings can be added in layers. Substrate glass is thermally stable and highly uniform when transmission uses thicknesses ranging from microns to meters.

A glass substrate, also known as float glass, raw glass or glass liter, is a self-contained glass ply used to produce glass products. Glass substrates enable panel producers to create more ecologically friendly, lighter and thinner display panels. Producers are gradually promoting items that contain no unneeded heavy metals to lessen the environmental impact of production.

Furthermore, Glass is widely employed in everyday life and may be found in a variety of industries, such as flat panel displays, smart handheld devices and automotive applications. Glass substrate applications are continually evolving due to its outstanding chemical, mechanical, electrical and optical qualities. Glass substrates are projected to become more popular in the projected years as a result of their properties such as lesser micro-roughness and smoothness.

Market Dynamics

Growing improvement in the manufacture of semiconductors; electronics components; display devices; computing and telecommunication systems is projected to create growth opportunities for the glass substrates market

Growing improvement in the manufacture of semiconductors; electronics components; display devices; computing and telecommunication systems is projected to create growth opportunities for the glass substrates market

Glass substrates are used in many applications in the electronics sector. They're employed in the production of semiconductors for a variety of uses.

Complementary metal-oxide-semiconductor (CMOS), micro-electro-mechanical systems (MEMS), Image, Sensors, LEDs, Logic IC, ICs, power, batteries and optoelectronics, are some of the applications of the glass substrate in semiconductors. The electronics industry is seeing unprecedented expansion due to strong demand from emerging markets. Electronic components and systems, electric drives, industrial control equipment and other sub-sectors are all predicted to grow strongly in the forecast period.

For example, in July 2018, Corning unveiled its new Gorilla Glass DX and DX+ protective glass substrates, which are intended exclusively for wearables and feature antireflective and contrast-improving qualities to scratch resistance and durability. Corning's Gorilla Glass DX and Gorilla Glass DX+ protective composites for wearables and other devices with small screens are a development of the company's Gorilla Glass SR+ protective composites.

The new substrates have an antireflective property that is said to be % better than standard glass and a special structure that improves the contrast ratio of a display by 50 percent at the same brightness level compared to standard glass to address applications such as smartwatches better. These capabilities are significant for wearables since they reduce the need to raise brightness and extend battery life.

Furthermore, due to the increasing presence of large numbers of OEMs, the electronics manufacturing industry in Asia-Pacific will likely grow substantially. The low cost, abundant supply of raw materials and availability of inexpensive labor are primarily driving the sector's expansion in the region.

Enterprises in the Asia-Pacific region provide manufacturing and assembling services to companies in Germany, France and U.S. Furthermore; these enterprises are rapidly digitizing their operations to achieve end-to-end integration, thus encouraging OEMs in Europe and North America to outsource their manufacturing to Asia-Pacific.

The high production cost of glass substrate hurdles the market growth of the product to grow in the forecast period

Glass substrate holds a dominant market position due to its excellent properties and application range in different industries. However, the high cost required to build the glass substrate is the major hurdle to the market's growth.

For instance, glass substrate costs around US$ 20-35 / Piece, the cost of the product depends on the type of material used, such as borosilicate material cost around US$ 13 / Piece, whereas quartz borosilicate glass cost around US$ 1-10 / Piece. Thus a wide range of the product based on the material type hurdles the market growth for the product.

COVID-19 Impact Analysis

The worldwide glass substrate market is projected to slow down in the coming years due to the COVID-19 pandemic. The slowdown in the glass substrate market is due to factory closures in major parts of the world, prompting expectations of a significant downturn.

Furthermore, one of the important factors anticipated to impact the growth of the glass substrate market negatively is the recent fall in the growth of the electronics industry. As a result of the shutdown, businesses grapple with missed sales and interrupted supply lines. However, the growing vaccination drive is anticipated to bring back the market growth momentum in the forecast period, accelerating the global glass substrate market.

Segment Analysis

The global glass substrate market is segmented based on type, end-user and region.

Borosilicate-based glass substrates offer superior properties, such as high chemical resistivity, low coefficient of thermal expansion and high surface strength, which is boosting the market growth for the segment

The global glass substrate market is segmented based on type into borosilicate, ceramic, silicon, quartz/fused silica and others. Of the mentioned types, the borosilicate-based glass substrates is the most widely used type. The growth is attributed to their superior properties, such as high chemical resistivity, low coefficient of thermal expansion and high surface strength.

Borosilicate glass comprises % silicon dioxide (SiO2) and 5-15% boron trioxide (B2O3). Alkaline oxide (Na2O, K2O), aluminum oxide (Al2O3) and alkaline potassium oxide are some of the other additions (CaO, MgO). In order to maximize transparency, borosilicate glasses often have a low iron content, which results in the distinctive green color of window glass.

Furthermore, compared to window glass, borosilicate glass has stronger chemical stability against water, a wide range of chemicals and pharmaceutical goods due to its boron component. Moreover, because its thermal expansion coefficients are less than half as large as window glass, borosilicate glass has much better thermal stability against temperature variations.

Geographical Analysis

The tremendously improving construction industry of Europe and the growing adoption of green buildings in the region are boosting the regional growth of the Glass Substrate market

Europe is expected to show the fastest rate of growth in the forecast period for the global market for Glass Substrate, owing to the growing construction industry in countries such as UK, Germany, Italy and France.

Europe is home to the world's largest producers of glass substrates. Saint-Gobain, Nippon Sheet Glass Co., Ltd, AGC Glass Europe, Morley Glass & Glazing Ltd and Cardinal Glass Industries, Inc. are some of the main manufacturers of glass substrates.

Low-emissivity glass is energy-saving that keeps heat from leaking through the windows. Low-e glass is made with an invisible coating that inhibits heat transfer and reflects interior heat into the room. Furthermore, According to the European Commission, 570 projects have been registered to receive EUR 60 million in funding for project construction in 2019, thereby expanding the scope of the Glass Substrate industry. Energy-efficient windows and doors minimize CO2 emissions, making the home's carbon footprint smaller and more environmentally friendly.

Thus, to meet the demand from an increasing population, it is anticipated that roughly 6 lakh new houses will be erected in Sweden and 3 lakh new houses will be built in Germany by 2025. The causes mentioned above, combined with government backing, are driving up demand for glass substrates, likely to rise during the forecast period.

Competitive Landscape

The global glass substrate market is highly competitive with local and global companies. Some prime companies contributing to the market's growth are AGC, SCHOTT, Plan Optik, HOYA Corporation, LG Chem, Corning Inc., Nippon Sheet Glass, OHARA Inc, IRICO Group New Energy Company Limited, The Tunghsu Group and others.

The major companies are adopting several growth strategies such as acquisitions, product launches and collaborations, contributing to the global growth of the Glass Substrate market.

In August 2017, AGC, a world-leading supplier of glass, ceramics chemicals and other high-tech materials and components, announced to launch of mass production of XCV™, a glass substrate for television LGPs with the world’s top light transmittance performance. AGC planned to supply customers such as LG Display, which is the world’s largest manufacturer of liquid crystal panels

Corning Inc

Overview: Corning Incorporated is a multinational technology firm based in U.S. specializing in glass, ceramics and related materials and technologies, such as sophisticated optics, for industrial and scientific purposes. Corning Glass Works was the company's name until 1989. Corning sold the Corning Consumer Products Company subsidiary (now known as Corelle Brands) to Borden in 1998, divesting its consumer product lines (including CorningWare and Visions Pyroceram-based cookware, Corelle Vitrelle tableware and Pyrex glass bakeware). Corning still owns about 8% of Corelle Brands.

Product Portfolio: Corning EAGLE XG Slim Glass substrates: Corning EAGLE XG Slim Glass substrates allow display panel producers to create smaller, lighter and more ecologically friendly displays. Dimensional stability and highly clean, smooth, flat surfaces are key characteristics of EAGLE XG Slim Glass, critical for successful display manufacture. EAGLE XG is Corning's premier glass and is extensively utilized and trusted by the world's leading panel manufacturers.

Key Development

For instance, on May 13, 2019, Corning Incorporated introduced a new glass substrate, Corning Astra Glass, optimized for mid-to-large-size immersive displays in high-performance tablets, notebooks and 8K TVs. Corning announced to showcase this innovation at the Society for Information Display’s (SID) Display Week in San Jose, California.

Why Purchase the Report?
• Visualize the global glass substrate market segmentation by type, end-user and region, highlighting key commercial assets and players.
• Identify commercial opportunities in the glass substrate window market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global glass substrate market-level 4/5 segmentation points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global glass substrate market report would provide approximately 53 market data tables, 47 figures and 211 pages.

Target Audience 2022
• Service Providers/ Buyers
• Electronic Companies
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• Research Laboratory
• Manufacturers
• Consumer Goods Companies
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