The semiconductor glass market size has experienced steady growth in recent years, projected to rise from $5.78 billion in 2023 to $6.06 billion in 2024, reflecting a compound annual growth rate (CAGR) of 4.8%. This historical growth can be attributed to factors such as the increasing use of photomasks, the rising demand for flat panel displays (FPDs), growth in data centers, the integration of electronics in vehicles, and a focus on sustainability and energy efficiency. The semiconductor glass market size is expected to reach $7.34 billion in 2028, achieving a CAGR of 4.9% during the forecast period. The expected growth is driven by the rising use of wearable health monitors, advancements in renewable energy technologies, increased demand for high-performance electronics, the expanding healthcare sector, and the growing Internet of Things (IoT). Key trends in this period include increased semiconductor demand, advancements in glass technology, a focus on miniaturization, sustainability and recycling initiatives, and the integration of advanced coatings.
Major Driver In The Semiconductor Glass Market
The increasing demand for consumer electronics is projected to drive the growth of the semiconductor glass market in the future. This rise in the adoption of consumer electronics is fueled by a growing need for smart, connected devices and technological advancements. Semiconductor glass enhances display clarity and supports advanced functionalities, which is essential for high-performance and high-resolution screens. For example, in January 2023, LG Corporation, a South Korea-based consumer electronics and home appliances company, reported that it exceeded $60 billion in revenue for the first time in its annual financial report for 2022, marking a 12.9% increase from 2021. This growth is largely attributed to high demand for premium home appliances and automotive parts, with the appliance business unit showing significant year-over-year growth for the seventh consecutive year. Therefore, the increasing demand for consumer electronics is propelling the semiconductor glass market's growth, with further advancements expected through 2024 and into 2028.
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Semiconductor Glass Market Competitive Landscape
Major companies operating in the semiconductor glass market are LG Electronics Inc., Compagnie de Saint-Gobain, Heraeus Holding GmbH, Shin-Etsu Chemical Co. Ltd., AGC Inc., Corning Incorporated, TCL Technology Group Corporation, Tosoh Corporation, Hoya Corporation, SCHOTT AG, Nippon Electric Glass Co. Ltd., Rubicon Technology Inc., Edmund Optics Inc., OHARA Inc., GT Advanced Technologies Inc., Silitech Technology Corporation, Plan Optik AG, Dynasil Corporation of America, JOLED Inc., Visionox Technology Inc.
Key Semiconductor Glass Market Trend
Major companies in the semiconductor glass market are working on advanced ultra-low-flatness glass solutions to improve precision and performance in semiconductor manufacturing. These high-precision glass substrates exhibit minimal surface deviations, which are crucial in semiconductor manufacturing, as even minor imperfections can impact performance and yield. For example, in September 2023, Intel Corporation, a US manufacturer of semiconductor circuits, unveiled new glass substrate technology for next-generation advanced chip packaging. This glass offers ultra-low flatness and improved thermal and mechanical stability, allowing for significantly higher interconnect density. These benefits will enable chip designers to create high-density, high-performance packages suitable for demanding applications such as artificial intelligence (AI).
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Global Semiconductor Glass Market Segmentation
The semiconductor glass market covered in this report is segmented –
1) By Type: Borosilicate Based, Silicon Based, Ceramic Based, Silica Or Quartz Based, Other Types
2) By Application: Solar Battery, Light Emitting Device, Electronic Switch, Other Applications
3) By End Use: Electronics, Automotive, Medical, Aerospace And Defense, Solar
By Geography:The regions covered in the semiconductor glass market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the semiconductor glass market in 2023. North America is expected to be the fastest-growing region in the forecast period.
The Semiconductor Glass Global Market Report 2024 furnishes information about the global semiconductor glass 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.
