The glass substrate market has seen solid growth, rising from $7.41 billion in 2023 to $7.90 billion in 2024, with a CAGR of 6.5%. This growth is attributed to the increased demand for solar power, energy-efficient glass substrates, and their use in automotive applications. The market is projected to grow to $10.20 billion by 2028, driven by the expansion of consumer electronics, aerospace applications, and medical equipment. Key trends include the adoption of LCDs in vehicles, high-definition displays, and the rising need for semiconductors.
Major Driver In The Glass Substrate Market
The rising demand for consumer electronics is expected to enhance the glass substrate market. Consumer electronics, including smartphones, laptops, and televisions, are increasingly incorporating advanced technologies and smart features. Glass substrates are essential for these devices, offering durability and sleek designs. The Japan Electronics and Information Technology Industries Association reported in May 2023 that Japan's total electronic equipment production reached $48.86 billion, with consumer electronics production increasing to $2.03 billion from $1.6 billion in May 2022. This growth in consumer electronics is driving the glass substrate market.
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Glass Substrate Market Competitive Landscape
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
Key Glass Substrate Market Trend
Major companies in the glass substrate market are innovating with high-performance glass substrates to enhance electronics, display technologies, and renewable energy systems. These substrates are engineered for superior optical clarity, thermal stability, and mechanical strength. For example, in September 2023, Intel Corporation introduced new high-performance glass substrates designed to meet the growing demand for advanced computing capabilities. These substrates provide improved thermal management and electrical insulation, supporting the development of more powerful computing systems capable of handling complex workloads.
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Glass Substrate Market Segmentation
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
By Geography:The regions covered in the glass substrate market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the glass substrate market in 2023.
The Glass Substrate Global Market Report 2024 furnishes information about the global glass substrate market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
