Glass Substrate Market Expected To Attain A Value Of Around USD 10.46 Billion by 2032

As per the researchers at Zion Market Research, global Glass Substrate Market was worth USD 7.26 Billion in 2023. The market is forecast to reach USD 10.46 Billion by 2032, growing at a compound annual growth rate (CAGR) of 3.7% during the forecast period 2024-2032. Few of the key players active in the global glass substrate market consist of The Tunghsu Group, OHARA Inc., SCHOTT AG, AGC Inc., HOYA Corporation, Guardian Glass, Nippon Sheet Glass, Viracon, Plan Optik, LG Chem, Corning Inc., and IRICO Group New Energy Company Limited, among others. establishment of new manufacturing units is a main business expansion approach implemented by a majority of companies as a result of the rising requirement from end-use industries. To cite, a new production facility was launched by Corning Incorporated in May 2018 for its Gen 10.5 LCD glass substrate that is co-sited with the unit of BOE Technology Group Co. Ltd. in Anhui Province, China. The fabrication of 10.5-generation LCDs was started by BOE Technology Group Co. Ltd. in December 2017.

Rising Need From End-Use Industries Likely To Fuel The Growth Of The Global Market

The global glass substrate market is projected to witness considerable growth during the forecast period. The expansion of the market is mainly fueled by the growing need for glass substrates from end-use industries, like automotive, electronics, aerospace & defense, solar, and medical, for the making of end-products that comprise LCDs, semiconductors, solar panels, and sensors. The rising usage of LCDs in smart handheld devices, automotive applications, and consumer durables are other factors anticipated to boost the expansion of the glass substrate market in the coming period. Nevertheless, the elevated manufacturing expenses of glass substrates might hamper the expansion of the global glass substrate market to some extent.

Based On End-Use Industry, Electronics Segment Is Projected To Register Highest Growth

Based on the end-use industry, the electronics segment of the glass substrate market is expected to witness the highest rate of expansion during the forecast period. It is utilized to fabricate electronic components, display devices, MEMS devices, semiconductors, and information, computing & telecommunication devices. Thereby, the escalated use of glass substrates within the electronics industry is expected to drive the segmental growth in the years to come.

Asia Pacific Anticipated To Rule The Global Glass Substrates Market During The Forecast Period

Regionally, the global glass substrate market is projected to be governed by the Asia Pacific region during the forecast period. This regional expansion can be credited to the elevated manufacture of electronic devices in this region. The glass substrate market China, among all Asia Pacific countries, is anticipated to expand at a considerable rate during the forecast period. Furthermore, technological innovations in end-use industries, like automotive, medical, and electronics, are also anticipated to fuel the expansion of the glass substrate market in the Asia Pacific.

Browse the full “Global Glass Substrate Market - By End-Use Industry (Electronics, Medical, Automotive, Solar, And Aerospace & Defense), By Type (Silicon, Borosilicate, Fused Silica/Quartz, Ceramic-Based Glass Substrates, And Others), And Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2024-2032.” Report at https://www.zionmarketresearch.com/report/glass-substrate-market

The global glass substrate market is segmented as follows:

By Type:

• Borosilicate-based Glass Substrates
• Silicon-based Glass Substrates
• Ceramic-based Glass Substrates
• Fused Silica/Quartz-based Glass Substrates
• Others (Soda-lime and Aluminosilicate-based Glass Substrates)

By End-Use Industry:

• Electronics
• Automotive
• Medical
• Aerospace & Defense
• Solar

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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