Growing Demand For Ultra-Thin Glass Across The Globe Market Outlook: Ken Research
With the significant increase in the population the industry of manufacturing and construction grow more effectively. Moreover, the construction material is also leading the market with the effective development in the economy. The ultra-thin glass is thinner than human hair and has wideness below 2mm. It enable outstanding properties such as lightweight, thermal stability, weather durability and flexibility which make them appropriate for usage in various end use industries such as electrical & electronic, building & construction, renewable energy, automotive, biotechnology and several others. Moreover, the global market of ultra-thin glass is segmented into various aspect of the market which includes by manufacturing process, thickness, application, enduse industry and by region. Whereas, basis on the manufacturing process segment the market is split accordingly which includes Float, Fusion and Down-Draw? Among all, the float accounted for the highest market share in 2017 with a value of USD 3,627.3 million and is likely to expand with an effective CAGR of 13.0% in the review period on account of huge adoption rate in the numerous end-use industries. Therefore, in the recent trend the market has grown in an effective manner.
According to the report analysis, ‘Global Ultra-Thin Glass Market Research Report – Forecast to 2024’ states that some of the major companies which are functioning recently in this sector more effectively for dominating the market more effectively includes Corning Incorporated, Asahi Glass Co., Ltd, Nippon Electric Glass Co., Ltd, SCOTT AG, CSG Holding Co., Ltd, Central Glass Co., Ltd, Xinyi Glass Holdings Limited, Nitto Boseki Co., Ltd, Luoyang Glass Co., Ltd, Emerge Glass, Aeon Industries Corporation Ltd, Changzhou Almaden Co., Ltd, RUNTAI INDUSTRY CO., LTD, TAIWAN GLASS IND. CORP and Novalglass. Moreover, the increasing demand for electronic products, expanding automotive industry and continuous growth of healthcare industry are the major growth driver of the global ultra-thin glass market and robust manufacturing processes of ultra-thin glass is major restraint in this market. Whereas, growing usage of ultra-thin glass in solar products and increasing demand from aviation sector are the two major opportunities for lead the market growth more significantly.
The key players are adopting effective techniques for doing production and offering the efficient product at a reasonable rate which is benefitted for both the user and seller. Moreover, on the basis of region, the market of ultra-thin glass is spread across the globe which majorly include five regions namely Asia Pacific, Europe, North America, Latin America and the Middle East & Africa. Meanwhile, the Asia Pacific region emerged as the leading industry with this product and holds for around 59.0% market share in 2017 and is anticipated to observe a worthwhile growth during the forecasted period. The region encountered approximately USD 5,632.1 million in terms of value in 2017 and is anticipated to rise at a significant CAGR of around 12.6% over the reviewed period owing to increasing consumption in various end-use industries likely automotive, electricals & electronics and building and construction. The market will grow more significantly in the near future across the globe with the expanding population and growing purchasing power specifically in developing countries over the decades.
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Ankur Gupta, Head Marketing & Communications
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