The global ultra-thin glass market is poised for substantial growth, with an anticipated compound annual growth rate (CAGR) of 10.7% from 2023 to 2033, projected to surpass USD 29.5 billion by the end of the forecast period. Starting at a valuation of USD 10.7 billion in 2023, this market is driven by the unique properties of ultra-thin glass, such as its remarkable flexibility compared to traditional glass. These characteristics make it highly suitable for applications in flexible screens, wearable technology, and smartphones. The rising popularity of foldable cell phones among millennials further fuels the demand for ultra-thin glass, positioning it as a key material in the future of consumer electronics.
The design of new foldable cell phones is such that they can appeal to buyers who want distinctive items aesthetically. Millennials who wish to differentiate themselves from traditional flat phones are anticipated to buy these.
By 2033, smartphone manufacturers such as Samsung and Oppo are anticipated to release several foldable phone models. This is because these businesses frequently work to be on the cutting edge of technology advancements. Additionally, it is anticipated that this will enhance the brand’s reputation.
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Several people view foldable cell phones as a status symbol as they are typically more expensive than traditional flat-screen phones. Hence, it is likely that luxury companies will sell these phones.
For instance, the much anticipated foldable smartphone from OnePlus, the OnePlus Fold, will soon be available. In 2023, the company might release its first folding product.
Even though OnePlus hasn’t formally confirmed the launch, the upcoming phone will undoubtedly go on sale. It might be able to compete with seasoned rivals such as Motorola and Samsung, who have been active in the foldable phone sector for years.
Remote locations and non-metros are likelier than metro areas to adopt Samsung’s foldable and flip phones. Buying these cell phones has become easier as additional financing options are accessible.
Samsung claimed in August 2023 that 1,50,000 pre-orders for its fifth-generation foldable smartphones, unveiled in India in July, had been placed. While the Galaxy Z Flip5 is marketed at a younger audience, the Galaxy Z Fold5 is intended for business users.
Due to their affordability, materials such as polymer and plastic were employed in older flat phones. However, as ultra-thin glass is more durable than the alternative, smartphone manufacturers use it in foldable phones. This is designed to withstand frequent unfolding and folding without causing screen damage.
Key Takeaways from the Ultra-thin Glass Market Study
- The global ultra-thin glass industry exhibited a robust CAGR of 7% in the historical period between 2018 and 2022.
- The United States ultra-thin glass industry is anticipated to generate an entire earnings outlook of US$ 3.4 billion from 2023 to 2033.
- The United Kingdom’s ultra-thin glass industry is expected to gain a comprehensive revenue scope of US$ 729.9 million through 2033.
- In terms of manufacturing process, the float segment is likely to witness a CAGR of 2% in the review period.
- In terms of thickness, the less than 0.1 mm segment is expected to register a CAGR of 0% in the assessment period.
“The healthcare sector has experienced significant growth in the past five years. Top medical device makers are incorporating ultra-thin glass into diagnostic instruments, imaging technology, and wearables to improve remote patient monitoring. Manufacturers of ultra-thin glass would plan to collaborate with international governmental organizations. They can decide to use their output for agricultural purposes.” – says a lead analyst at Future Market Insights (FMI).
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Competitive Landscape
With diverse small- and large-scale businesses, the ultra-thin glass industry is highly fragmented worldwide. To meet the shifting consumer needs, they are primarily concentrating on developing innovative products.
Leading companies are developing cutting-edge eyewear to sell to recognized smartphone manufacturing companies. There will soon be more options for foldable smartphones due to the high demand for them. To create success, they are also engaging in research and development initiatives.
For instance,
- Galaxy foldables are revolutionizing what is possible for smartphone users worldwide with their inventive experiences and interactions. Key element of Samsung’s foldable devices is ultra-thin glass. It is a special material that keeps its tensile strength and durability even after being folded hundreds of times or more.
Key Companies Profiled
Aeon Glass (Aeon Industries Corp., Ltd); Air-Craftglass Inc.; Asahi Glass Co., Ltd; AvanStrate Inc.
Get More Valuable Insights into the Ultra-thin Glass Market Report
The latest report offers an unbiased analysis of the ultra-thin glass market, providing historical data from 2018 to 2022 and forecast statistics for the period 2023 to 2033.
The market has been analyzed based on the manufacturing process (float, fusion, others), thickness (less Than 0.1 mm, 0.1 to 0.5 mm, 0.5 to 1.0 mm, 1.0 to 1.2 mm), application (touch panel display, semiconductor substrates, fingerprint sensors, others), and end use (consumer electronics, automotive & transportation, medical & healthcare, others) across several regions.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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