Market Size of Glass Substrate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Glass Substrates Market Analysis
The global market for glass substrate is expected to grow at a CAGR of over 4% during the forecast period. The major factor driving the market studied is the increasing usage of LCDs in consumer electronics. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak and high manufacturing costs are hindering the growth of the market.
The electronics industry is expected to dominate the global glass substrate market over the forecast period.
Asia-Pacific region is expected to account for the largest share and is also forecasted to be the fastest-growing market over the forecast period.
Glass Substrates Industry Segmentation
The Glass Substrate market report includes:
| Type | |
| Borosilicate | |
| Silicon | |
| Ceramic | |
| Quartz | |
| Others |
| End-user Industry | |
| Automotive | |
| Aerospace and Defense | |
| Healthcare | |
| Solar Power | |
| Electronics | |
| Others |
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Glass Substrate Market Size Summary
The glass substrates market is poised for significant growth, driven primarily by the increasing demand for LCDs in consumer electronics. Despite challenges such as high manufacturing costs and the lingering effects of the COVID-19 pandemic, the market is expected to expand steadily. The electronics industry is anticipated to be the dominant force in this market, with Asia-Pacific emerging as the largest and fastest-growing region. This growth is attributed to the region's robust electronics manufacturing sector, supported by the presence of numerous OEMs, cost-effective raw materials, and affordable labor. The region's companies are also enhancing their operations through digitization, which is attracting more outsourcing from Europe and North America.
In Asia-Pacific, countries like China, India, and Japan are key contributors to the market's expansion. China's vast electronics production base not only meets domestic demand but also serves as a major export hub. The country's focus on health and innovation is expected to boost its medical device manufacturing sector, further driving demand for glass substrates. Similarly, India's burgeoning healthcare industry is projected to increase the demand for medical devices, thereby enhancing the market's growth prospects. The competitive landscape of the global glass substrate market is partially consolidated, with major players like AGC Inc., Nippon Electric Glass Co., Ltd., SCHOTT AG, Corning Incorporated, and LG Chem leading the charge.
Glass Substrate Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Usage of LCDs in Consumer Electronics
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak
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1.2.2 High Manufacturing Costs
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1.3 Industry Value Chain Analysis
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1.4 Porters Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Borosilicate
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2.1.2 Silicon
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2.1.3 Ceramic
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2.1.4 Quartz
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2.1.5 Others
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2.2 End-user Industry
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2.2.1 Automotive
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2.2.2 Aerospace and Defense
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2.2.3 Healthcare
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2.2.4 Solar Power
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2.2.5 Electronics
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2.2.6 Others
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 Italy
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2.3.3.4 France
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle-East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle-East and Africa
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Glass Substrate Market Size FAQs
What is the current Glass Substrate Market size?
The Glass Substrate Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Glass Substrate Market?
AGC Inc., Nippon Electric Glass Co., Ltd., SCHOTT AG , Corning Incorporated and LG Chem are the major companies operating in the Glass Substrate Market.
