The glass substrate market is projected to reach USD 1.97 billion by 2022, at a CAGR of 5.7% between 2017 and 2022. Glass substrates are flat glass panels or disks on which integrated circuit is deposited with precision. Borosilicate, silicon, ceramic, fused silica/quartz, soda-lime, and aluminosilicate are raw materials used in the production of glass substrates. The increasing use of LCDs in consumer durables, smart handheld devices, and automotive applications is one of the most significant factors projected to drive the growth of the glass substrate market. In addition, the migration towards larger-generation glass substrates is further contributing to the growth of the glass substrate market.
The shape, size, thickness, sharpness, and flexibility of glass substrates depend on their end-use application requirements. Moreover, the manufacturing of glass substrates incurs high cost, which, in turn, acts a restraint to the growth of the glass substrate market. Innovations in display technologies and the use of glass substrates in the automotive industry, especially in the electric vehicles segment, are key factors positively impacting the dynamics of the glass substrate industry. The rising demand for glass substrates from end-use industries, such as electronics, automotive, medical, aerospace & defense, and solar is expected to drive the demand for glass substrates, globally. Glass substrate is a key material used in the manufacture of semiconductors, LCDs, OLEDs, laptops, computers, and smartphones. Thus, the increasing use of glass substrates to develop electronic components is influencing the growth of the glass substrate market in the electronics industry.
Key companies profiled in the glass substrate market research report are AGC (Japan), SCHOTT (Germany), Corning Inc. (US), Nippon Sheet Glass (Japan), Plan Optik (Germany), HOYA Corporation (Japan), LG Chem (South Korea), OHARA Inc. (Japan), IRICO Group New Energy Company Limited (China), and The Tunghsu Group (China).
