What are the Historical Developments and Current Growth Metrics of the Glass Substrate Market?
The glass substrate market has seen considerable growth due to a variety of factors.
• The glass substrate market has grown steadily in recent years. It will increase from $7.9 billion in 2024 to $8.43 billion in 2025, with a compound annual growth rate (CAGR) of 6.8%.
This growth is attributed to rising demand for solar power, increased automotive applications, demand for energy-efficient glass substrates, the need for high-speed data transfer, and greater use in industrial applications.
What Does Future Hold for The Glass Substrate Market By 2029?
The glass substrate market is expected to maintain its strong growth trajectory in upcoming years.
• The glass substrate market is projected to grow steadily, reaching $10.85 billion by 2029, at a CAGR of 6.5%.
Growth will be driven by the growing demand for consumer electronics, its use in aerospace and defense, expanding industrial infrastructure projects, rising needs in the automobile and transportation sectors, and increasing use in medical equipment. Key trends will include demand for high-quality products, the adoption of LCDs in vehicles, rising demand for smart handheld devices, demand for semiconductors, and the need for high-definition displays.
What Are The Primary Growth Drivers In The Glass Substrate Market?
The glass substrate market is expected to grow alongside the rising demand for consumer electronics. Glass substrates enable sleek designs, larger displays, and greater durability in electronics such as smartphones and tablets. For example, Japan’s consumer electronics production in May 2023 reached $2,033.13 million, a significant increase from $1,600.46 million in May 2022. Therefore, the increasing demand for consumer electronics is driving the glass substrate market.
What Is The Segmentation Of The Global Glass Substrate Market?
The glass substrate market covered in this report is segmented –
1) By Type: Borosilicate Based, Fused Silica And Quartz Based, Silicon, Other Types
2) By Wafer Diameter: 300 mm, 200 mm, 150 mm, 125 mm, Above 300 mm, Upto 100 mm
3) By Application: Wafer Packaging, Substrate Carrier, TGV Interposer
4) By End User Industry: Automotive, Aerospace and Defense, Healthcare, Solar Power, Electronics, Other End User Industries
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What New Trends Are Influencing The Glass Substrate Market?
Major players in the glass substrate industry are shifting their focus to the invention of novel products, such as superior-performance glass substrates, aiming to boost the reliability and performance of advanced display technologies, electronics and sustainable energy systems. Advanced-performance glass substrates are unique glass materials crafted to display exceptional qualities including high thermal stability, chemical resistance, optical clarity, and mechanical robustness. For example, in September 2023, Intel Corporation, an American semiconductor firm, introduced groundbreaking glass substrates devised to fulfill the escalating demand for intensified computing abilities. These pioneering substrates are produced to provide amplified thermal management and electrical insulation, facilitating the fabrication of stronger and more efficient computational systems. Utilizing the distinctive characteristics of glass, Intel's latest substrates deliver improved thermal conductance and diminished thermal resistance, paving the way for the production of high-performance computational solutions capable of managing increasingly intricate workloads.
Who Are the Key Players In The Glass Substrate Market?
Major companies operating in the glass substrate market are:
• Asahi Glass Co. Ltd.
• Corning Incorporated
• Toppan Inc.
• HOYA Corporation
• Guardian Glass
• Schott AG
• Nippon Electric Glass Co. Ltd.
• Dongxu Group Co. Ltd.
• China Glass Holdings Limited
• Viracon Inc.
• IRICO Group Electronics Co. Ltd.
• OHARA Inc.
• GIO Optoelectronics Co. Ltd.
• Tecnisco Ltd.
• 3D Micromac AG
• SwissOptic AG
• Abrisa Technologies Co.
• Kopp Glass Inc.
• Swift Glass Company
• Rayotek Scientific Inc.
• Mo-Sci Corporation
• Foshan Xingang Glass
• Precision Glass & Optics (PG&O)
• The Tunghsu Group
• Plan Optik AG
What Are The Regional Insights Into The Glass Substrate Market?
North America was the largest region in the glass substrate market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the glass substrate market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
