Glass Substrate Market by Type (Borosilicate, Silicon, Ceramic, And Fused Silica/Quartz-Based Glass Substrates), End-Use Industry (Electronics, Automotive, Medical, Aerospace & Defense, Solar), and Region - Global Forecast to 2028

Glass Substrate Market by Type (Borosilicate, Silicon, Ceramic, And Fused Silica/Quartz-Based Glass Substrates), End-Use Industry (Electronics, Automotive, Medical, Aerospace & Defense, Solar), and Region - Global Forecast to 2028

The glass substrate market size is estimated to be USD 7.1 billion in 2023, and it is projected to reach USD 8.4 billion by 2028 at a CAGR of 3.5%. The market of global glass substrate is on an upward trajectory due to the increasing demand from several end-use industries such as electronics, automotive, medical, aerospace & defense, and solar power. Apart from this, the market growth is attributed to the rising usage in solar applications. However, the progress of the market may face hindrances due to high technology development costs and manufacturing costs of the glass substrate.

A glass substrate refers to a thin, flat piece of glass that serves as a base or foundation for various applications, particularly in the field of electronics and optics. The term is commonly used in the context of manufacturing electronic devices, displays, sensors, and other technologies.

""Borosilicate-based glass substrates is the biggest by type segment of the glass substrates market.""

In terms of by type segment, the borosilicate-based glass substrates segment is anticipated to experience the most substantial growth throughout the forecast period. These substrates offer cost-effectiveness compared to other glass substrates. Additionally, the distinct qualities of borosilicate-based glass substrates, such as a low coefficient of thermal expansion, high chemical resistivity, and superior surface strength, contribute to the rising global demand for them. The fused silica/quartz-based glass substrates segment is projected to achieve the second-highest compound annual growth rate (CAGR) during the forecast period, attributed to the enhanced thermal expansion capability of fused silica/quartz-based glass substrates when compared to their borosilicate-based counterparts.

""Electronics is the largest end-use industry segment of the glass substrates market.""

The glass substrate market is significantly influenced by the electronics industry, which holds a substantial share. The growing adoption of glass substrates in the production of display devices, electronic components, semiconductors, MEMS devices, and information, computing, and telecommunication devices is poised to fuel the expansion of the glass substrate market within the electronics sector. Furthermore, progress and innovations in LCDs and semiconductors play a crucial role in bolstering the overall growth trajectory of the glass substrate market.

""APAC is the fastest-growing market for glass substrates.""

The Asia-Pacific glass substrate market is anticipated to achieve the highest Compound Annual Growth Rate (CAGR) in terms of value from 2023 to 2028. This upswing is primarily linked to the heightened manufacturing of electronic devices in the Asia-Pacific region. Among the countries in this region, China is expected to lead with the highest CAGR during the forecast period. The growth of the glass substrate market in this area is propelled by technological advancements in key end-use industries, including electronics, automotive, and medical sectors.

The breakdown of primary interviews is given below:

By Company Type: Tier 1 – 52%, Tier 2 – 26%, and Tier 3 –22%

By Designation: Director-Level – 48%, C-Level – 23%,and Others – 29%

By Region: North America – 21%, Europe – 25%, APAC – 44%, Middle East & Africa – 5%, and South America - 5%

The key companies profiled in this report on the glass substrates market include AGC Inc. (Japan), Schott (Germany), Corning, Incorporated (US), Nippon Sheet Glass Co., Ltd. (Japan), Plan Optik AG (Germany), HOYA Corporation (Japan), Ohara Inc. (Japan), IRICO Group New Energy Company Limited (China), Toppan Inc. (Japan), Tunghsu Group Co. Ltd. (China), and others are the key players operating in the glass substrate market.

Research Coverage

The glass substrate market has been segmented based on by type, end-use industry, and region. This report covers the glass substrate market and forecasts its market size until 2028. It also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their position in the glass substrate market. The report also provides insights into the drivers and restraints in the glass substrate market along with opportunities and challenges. The report also includes profiles of top manufacturers in the glass substrate market.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in the following ways:

1. This report segments the glass substrate market and provides the closest approximations of revenue numbers for the overall market and its segments across different verticals and regions.

2. This report is expected to help stakeholders understand the pulse of the glass substrate market and provide information on key market drivers, restraints, challenges, and opportunities influencing the market growth.

3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the glass substrates market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as acquisitions, expansions, new product developments, and partnerships/collaborations/agreements.

The report provides insights on the following pointers:

Analysis of key drivers (Rising usage of LCDs in consumer electronics and automotive application, growing Semiconductor Industry), restraints (High technology development cost and manufacturing cost of the glass substrate), opportunities (Innovations in display technologies, and growing use of glass substrate in solar power application), and challenges (LCD glass to meet strict quality requirements) influencing the growth of the glass substrates market

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the glass substrate market

Market Development: Comprehensive information about lucrative markets – the report analyses the glass substrate market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the glass substrate market

Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like AGC Inc. (Japan), Schott (Germany), Corning, Incorporated (US), Nippon Sheet Glass Co., Ltd. (Japan), Plan Optik AG (Germany), HOYA Corporation (Japan), Ohara Inc. (Japan), IRICO Group New Energy Company Limited (China), Toppan Inc. (Japan), Tunghsu Group Co. Ltd. (China), and others