Glass Substrate Market Insights: Size, Share, Growth Analysis & Forecast (2024-2029)Â
The market report provided a comprehensive analysis segmented by Type (Borosilicate-based Glass Substrates, Silicon-based Glass Substrates, Ceramic-based Glass Substrates, Fused Silica-/Quartz-based Glass Substrates, Others); by End-Use Industries (Automotive, Electronics, Medical, Aerospace & Defense, Solar Power); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).
Outlook
- The glass substrate market is estimated to be at USD 7,276.13 Mn in 2024 and is anticipated to reach USD 9,256.66 Mn in 2029.
- The glass substrate market is registering a CAGR of 4.93% during the forecast period 2024-2029.
- The global glass substrate market’s growth is driven by the increasing demand from electronics and display industries. Glass substrates are primarily used in electronic applications such as displays, semiconductors, and photovoltaic cells.
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Ecosystem
- The participants in the global glass substrate industry are investing heavily in research and development to innovate glass substrates for diverse applications.
- These companies primarily focus on technological innovations, along with strategic partnerships and collaborations to maintain a competitive edge in the market.
- Several important entities in the glass substrate market include AGC Group; Schott Group; Corning Inc.; NSG Group; AvanStrate Inc.; and others.
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Findings
| Attributes | Values |
|---|---|
| Historical Period | 2018-2022 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Market Size (2024) | USD 7,276.13 Mn |
| Market Size (2029) | USD 9,256.66 Mn |
| Growth Rate | 4.93% CAGR from 2024 to 2029 |
| Key Segments | Type (Borosilicate-based Glass Substrates, Silicon-based Glass Substrates, Ceramic-based Glass Substrates, Fused Silica-/Quartz-based Glass Substrates, Others); End-Use Industries (Automotive, Electronics, Medical, Aerospace & Defense, Solar Power); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa) |
| Key Vendors | AGC Group; Schott Group; Corning Inc.; NSG Group; AvanStrate Inc. |
| Key Countries | The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa |
| Largest Market | Asia Pacific |
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Trends
- Development of Ultra-Thin Glass: Manufacturers are focusing on producing ultra-thin glass substrates for use in flexible electronics and foldable displays. For example, in 2023, Corning introduced an ultra-thin glass substrate for foldable smartphone displays, enhancing the durability and performance of next-gen consumer devices.
- Shift Towards Eco-Friendly Manufacturing: The industry is shifting toward more sustainable production processes. Glass substrate manufacturers like Asahi Glass are adopting eco-friendly methods to reduce energy consumption and CO2 emissions during the production process, a trend that gained momentum in 2023.
- Research on Glass Substrates for 6G Networks: R&D on advanced communication technologies is exploring the potential of glass substrates in 6G network applications. In 2023, a partnership between Nippon Electric Glass and a leading telecom provider explored the use of glass substrates in high-frequency antennas.
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Catalysts
- Adoption in Automotive Displays: With the rising trend of connected and autonomous vehicles, glass substrates are increasingly being used in automotive display systems. In 2023, Tesla implemented glass substrates for its touchscreens, offering enhanced durability and clarity.
- Rise of Biotechnology Applications: The biotechnology and healthcare sectors are seeing an increasing demand for glass substrates in diagnostic and research applications. The precision and clarity of these substrates make them ideal for advanced sensing technologies and laboratory equipment, where accuracy is critical.
- Adoption in AR/VR Devices: Glass substrates are increasingly being used in augmented reality (AR) and virtual reality (VR) devices for their clarity and light transmission properties. In 2023, Samsung integrated glass substrates into their AR glasses, enhancing visual performance.
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Restraints
- High Production Costs: The production of high-quality glass substrates, especially ultra-thin variants, requires advanced technology and materials, resulting in high manufacturing costs. In 2023, Corning reported that the development of ultra-thin glass substrates for flexible displays faced cost barriers, delaying mass-market production.
- Fragility of Glass: Despite advancements in durability, glass substrates remain fragile compared to alternatives like plastic, which is more resistant to impact. This fragility poses challenges in handling and transportation, leading to potential material loss and increased costs.
- Environmental Regulations: Stringent environmental regulations regarding the disposal of waste and emissions from glass substrate production processes pose challenges for manufacturers. In 2023, Asahi Glass had to invest heavily in upgrading its facilities to comply with new environmental standards in Japan, raising operational costs.
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Table of Contents
| 1.       Introduction 1.1.    Research Methodology 1.2.    Scope of the Study 2.       Market Overview / Executive Summary 2.1.    Global Glass Substrate Market (2018 – 2022) 2.2.    Global Glass Substrate Market (2023 – 2029) 3.       Market Segmentation 3.1.    Global Glass Substrate Market by Type 3.1.1. Borosilicate-based Glass Substrates 3.1.2. Silicon-based Glass Substrates 3.1.3. Ceramic-based Glass Substrates 3.1.4. Fused Silica-/Quartz-based Glass Substrates 3.1.5. Others 3.2.    Global Glass Substrate Market by End-Use Industries 3.2.1. Automotive 3.2.2. Electronics 3.2.3. Medical 3.2.4. Aerospace & Defense 3.2.5. Solar Power 4.       Regional Segmentation 4.1.    North America 4.1.1. The US 4.1.2. Canada 4.1.3. Mexico 4.2.    South America 4.2.1. Brazil 4.2.2. Argentina 4.2.3. Colombia 4.2.4. Rest of South America 4.3.    Asia Pacific 4.3.1. China 4.3.2. India 4.3.3. Japan 4.3.4. Rest of Asia Pacific 4.4.    Europe 4.4.1. The UK 4.4.2. Germany 4.4.3. Italy 4.4.4. Rest of Europe 4.5.    The Middle East 4.5.1. Turkey 4.5.2. UAE 4.5.3. Rest of the Middle East 4.6.    Africa 4.6.1. Egypt 4.6.2. South Africa 4.6.3. Rest of Africa 5.       Value Chain Analysis of the Global Glass Substrate Market 6.       Porter Five Forces Analysis 6.1.    Threats of New Entrants 6.2.    Threats of Substitutes 6.3.    Bargaining Power of Buyers 6.4.    Bargaining Power of Suppliers 6.5.    Competition in the Industry 7.       Trends, Drivers and Challenges Analysis 7.1.    Market Trends 7.1.1.    Market Trend 1 7.1.2.    Market Trend 2 7.1.3.    Market Trend 3 7.2.    Market Drivers 7.2.1.    Market Driver 1 7.2.2.    Market Driver 2 7.2.3.    Market Driver 3 7.3.    Market Challenges 7.3.1.    Market Challenge 1 7.3.2.    Market Challenge 2 7.3.3.    Market Challenge 3 8.       Opportunities Analysis 8.1.    Market Opportunity 1 8.2.    Market Opportunity 2 8.3.    Market Opportunity 3 9.       Competitive Landscape 9.1.    AGC Group 9.2.    Schott Group 9.3.    Corning Inc. 9.4.    NSG Group 9.5.    AvanStrate Inc. 9.6.    Company 6 9.7.    Company 7 9.8.    Company 8 9.9.    Company 9 9.10.  Company 10 |
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Glass Substrate Market – FAQs
1. What is the current size of the glass substrate market?
Ans. In 2024, the glass substrate market size is USD 7,276.13 Mn.
2. Who are the major vendors in the glass substrate market?
Ans. The major vendors in the glass substrate market are AGC Group; Schott Group; Corning Inc.; NSG Group; AvanStrate Inc.
3. Which segments are covered under the glass substrate market segments analysis?
Ans. The glass substrate market report offers in-depth insights into Type, End-Use Industries, and Geography.