Flexible Glass Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 1.80 Billion |
| Market Size (2029) | USD 2.48 Billion |
| CAGR (2024 - 2029) | 6.62 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Flexible Glass Market Analysis
The Flexible Glass Market size is estimated at USD 1.8 billion in 2024, and is expected to reach USD 2.48 billion by 2029, growing at a CAGR of 6.62% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the flexible glass market. However, the market recovered significantly in 2021, owing to rising consumption from various applications such as producing lightweight, thin, robust, and portable electronics.
- Increasing demand for flexible glass from electrical and electronics and consumer goods industries and lower cost of raw materials is expected to drive the market during the forecast period.
- High production complexity, environmental concerns, and health issues due to silica fumes will likely hinder market growth over the medium term.
- Increasing usage of flexible glass in solar panels, automotive, and defense sectors is expected to provide wide opportunities for manufacturers.
- Asia-Pacific represents the largest market and is expected to be the fastest-growing market over the forecast period, owing to the increasing consumption from countries such as China, India, and Japan.
Flexible Glass Market Trends
Increasing Demand for Solar Panels
- Glass is used owing to its advantages, such as low cost, less weight, heat, water resistance, scratch-resistant, etc. Some major end-user industries include electrical and electronics, automotive, Opto-electronics, etc.
- Manufacturing of solar panels is the second-largest application segment for flexible glass. The demand from thriving economies like Japan and China is much higher than that from developed countries like the United States and France.
- Growing demand for lightweight and scratch-free materials in the solar energy industry to provide increased design flexibility and ultra-slim glass is primarily responsible for the growth of the flexible glass market.
- In addition, one of the boosting factors for these solar panels is the increasing investment in a renewable energy source to reduce carbon emissions worldwide.
- In addition to USD 6.5 billion for loans for rural power, the 2023 budget of the US Department of Agriculture (USDA) allocated USD 300 million to help rural electricity providers switch to renewable energy sources.
- In December 2022, the California Public Utilities Commission approved new net metering regulations that will go into effect in April 2023 and eventually reimburse exported solar energy at prices approximately 75% less than retail. In contrast to the prior idea, there are no set fees and a transitional period.
- According to National Renewable Energy Laboratory (NREL), 16 states generated more than 5% of their electricity from solar, with California leading the way at 27.3%. The United States also installed 17.0 gigawatts of alternating current (GWac) (20.2 GWdc) of PV (photovoltaic) in 2022, ending the year with 110.1 GWac (140.6 GWdc) of cumulative PV installations.
- The French government will invest EUR 1 billion (~USD 1.13 billion) in initiatives to advance renewable energy as part of the France 2030 National Investment Plan. The ultimate goal is to install ten times as much renewable energy by 2050, or up to 100 GW. 40 GW of total installed capacity will come from offshore wind projects.
- All the factors above are anticipated to increase the demand for flexible glass through the forecast period.
Asia-Pacific to Dominate the Market
- Asia-Pacific is expected to dominate the flexible glass market during the forecast period due to the increasing demand for solar panels and voltaic cell manufacturing in countries such as China, South Korea, and Japan.
- The world will almost completely rely on China to supply key building blocks for solar panel production through 2025.
- According to information released by the National Energy Administration of China in late January, China installed 87 gigawatts (GW) in 2022, up 59% year over year (y/y).
- According to National Renewable Energy Laboratory (NREL), China installed 87 GW of solar in 2022, a 59% increase from the previous year. Furthermore, PV installations in India increased by 51% during the first nine months of 2022
- In India, a "Development of Solar Parks and Ultra Mega Solar Power Projects" plan is being implemented with a goal capacity of 40 GW by March 2024 to support big-scale grid-connected solar power projects. Solar projects capacity of 832 MW will be commissioned in various Solar Parks from January to October 2022.
- Japan substantially increased its electricity production from renewable energy sources in recent years, making it one of the top nations in installed renewable energy capacity. The Japanese government raised its objective for the proportion of renewable energy to 38% by 2030 under the new Strategic Energy Plan. Additionally, by 2050, the nation wants to be completely carbon neutral.
- Therefore, the abovementioned factors and government support contribute to the increasing demand for the flexible glass market in Asia-Pacific during the forecast period.
Flexible Glass Industry Overview
The flexible glass market is consolidated in nature. The major players (not in any particular order) include Saint-Gobain, AGC Inc., Corning Incorporated, LG DISPLAY CO., LTD., and Nippon Electric Glass Co. Ltd, among others.
Flexible Glass Market Leaders
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Saint Gobain
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AGC Inc.
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Corning Incorporated
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LG DISPLAY CO., LTD.
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Nippon Electric Glass Co. Ltd
*Disclaimer: Major Players sorted in no particular order
Flexible Glass Market News
- December 2022: Corning Incorporated has collaborated with LG electronics in order to provide sustainable glass solution for curved automotive interior display.
- April 2022: SCHOTT's flexible ultra thin glass product named SCHOTT UTG has been featured in Vivo's first foldable phone for internal display.
Flexible Glass Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Deliverables
- 1.2 Study Assumptions
- 1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Demand From Electrical and Electronics and Consumer Goods Industries
- 4.1.2 Lower Cost of Raw Material
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 High Production Complexity
- 4.2.2 Environmental Concerns and Health Issues due to Silica Fumes
- 4.2.3 Other Restraints
- 4.3 Value Chain / Supply Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Consumers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 Application
- 5.1.1 Display
- 5.1.2 Solar Panel
- 5.1.3 Photovoltaic Cell
- 5.1.4 Other Applications
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5.2 End-user Industry
- 5.2.1 Electrical and Electronics
- 5.2.2 Automotive
- 5.2.3 Medical
- 5.2.4 Wearable Devices
- 5.2.5 Other End-user Industries
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5.3 Geography
- 5.3.1 Asia-Pacific
- 5.3.1.1 China
- 5.3.1.2 India
- 5.3.1.3 Japan
- 5.3.1.4 South Korea
- 5.3.1.5 Rest of Asia-Pacific
- 5.3.2 North America
- 5.3.2.1 United States
- 5.3.2.2 Canada
- 5.3.2.3 Mexico
- 5.3.3 Europe
- 5.3.3.1 Germany
- 5.3.3.2 United Kingdom
- 5.3.3.3 France
- 5.3.3.4 Italy
- 5.3.3.5 Rest of Europe
- 5.3.4 South America
- 5.3.4.1 Brazil
- 5.3.4.2 Argentina
- 5.3.4.3 Rest of South America
- 5.3.5 Middle East & Africa
- 5.3.5.1 Saudi Arabia
- 5.3.5.2 South Africa
- 5.3.5.3 Rest of Middle East & Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Colaborations and Agreements
- 6.2 Market Share Analysis (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Abrisa Technologies
- 6.4.2 AGC Inc.
- 6.4.3 Corning Incorporated
- 6.4.4 DuPont
- 6.4.5 Kent Displays, Inc.
- 6.4.6 KYOCERA Corporation
- 6.4.7 LG DISPLAY CO., LTD
- 6.4.8 Murata Manufacturing Co., Ltd
- 6.4.9 Nippon Electric Glass Co. Ltd
- 6.4.10 Saint-Gobain
- 6.4.11 SCHOTT AG
- 6.4.12 UNIVERSAL DISPLAY
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Usage in Solar panels, Automotive, and Defense Sector
- 7.2 Other Opportunities
Flexible Glass Industry Segmentation
Flexible glass is essentially thin, often thinner than 100 microns, adding flexibility to traditional rigid glass's attributes. It is made from aluminum oxide that can be stretched and bent at room temperature without snapping. The flexible glass market is segmented by application, end-user industry, and geography. The market is segmented by application into displays, solar panels, photovoltaic cells, and other applications. The end-user industry segments the market into electrical and electronics, automotive, medical, wearable devices, and other end-user Industries. The report also covers the market size and forecasts for the flexible glass market in 15 countries across major regions. Market sizing and forecasts for each segment are based on revenue (USD).
| Application | Display | |
| Solar Panel | ||
| Photovoltaic Cell | ||
| Other Applications | ||
| End-user Industry | Electrical and Electronics | |
| Automotive | ||
| Medical | ||
| Wearable Devices | ||
| Other End-user Industries | ||
| Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Rest of Europe | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America | ||
| Geography | Middle East & Africa | Saudi Arabia |
| South Africa | ||
| Rest of Middle East & Africa |
Flexible Glass Market Research FAQs
How big is the Flexible Glass Market?
The Flexible Glass Market size is expected to reach USD 1.80 billion in 2024 and grow at a CAGR of 6.62% to reach USD 2.48 billion by 2029.
What is the current Flexible Glass Market size?
In 2024, the Flexible Glass Market size is expected to reach USD 1.80 billion.
Who are the key players in Flexible Glass Market?
Saint Gobain, AGC Inc., Corning Incorporated, LG DISPLAY CO., LTD. and Nippon Electric Glass Co. Ltd are the major companies operating in the Flexible Glass Market.
Which is the fastest growing region in Flexible Glass Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Flexible Glass Market?
In 2024, the Asia Pacific accounts for the largest market share in Flexible Glass Market.
What years does this Flexible Glass Market cover, and what was the market size in 2023?
In 2023, the Flexible Glass Market size was estimated at USD 1.69 billion. The report covers the Flexible Glass Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Flexible Glass Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Flexible Glass Industry Report
Statistics for the 2024 Flexible Glass market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Flexible Glass analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
