Glass Substrate Market Size, Share, Trends, Growth and Forecast 2032

Glass Substrate Market Insights

According to Zion Market Research, the 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.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Glass Substrate industry over the next decade.

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Introduction

A glass substrate is a thin panel that is utilized for fabricating of glass units. Moreover, it assist in reducing loss of power supply, enhancement of optical quality, high sensitivity, low die electric constant, and flexible packaging. It is utilized for creation of flat panels for LED & LCD display televisions. Furthermore, the product is also used for producing tablets, laptops, and smartphones.  Moreover, with large-scale use of LCD in vehicles, smart devices, and consumer goods, the market for glass substrate is likely to gain traction over the forthcoming years.

Market Growth Drivers

Rise in the use of glass substrate in production of electrical & electronic parts, MEMS equipment, semi-conductors, display equipment, and computing & telecom equipment will drive the market trends. Furthermore, borosilicate is widely utilized glass substrate as a result of its beneficial properties like low thermal co-efficient, high surface strength, and huge chemical resistance. Apart from this, strict government laws pertaining to public safety are few of the major factors influencing the business growth. Apparently, flourishing electronic and semiconductor industries will pave a way for the expansion of glass substrate industry over the ensuing years. Nonetheless, humongous production costs is likely to pose a threat to the growth of glass substrate market over the forthcoming years.

Furthermore, usage of photomasks, which are translucent glass substrates, on metal designs have the ability of blocking light transmissions. Moreover, these metals are chromium ones that can easily bond to glass. Such beneficial properties of the glass substrates will enlarge the scope of the market in the near future.

Glass Substrate Market: Report Scope

Asia Pacific To Majorly Contribute Towards Global Market Size During 2024-2032

The expansion of the market in Asia Pacific zone over the estimated timespan is due to huge production of electric as well as electronic goods in the countries like China, Japan, Taiwan, India, South Korea, and Singapore. Apart from this, presence of key players including Guardian Glass, AGC Inc., Viracon, and SCHOTT AG in the region will propel the market revenue over the years ahead. Apparently, the region is headquarter to many of the globally reputed manufacturers and this will eventually translate into lucrative growth opportunities for the business in the sub-continent over the coming years.

Key players profiled in the report include-

• Viracon
• The Tunghsu Group
• Corning Inc.
• OHARA Inc.
• SCHOTT AG
• Plan Optik
• AGC Inc.
• HOYA Corporation
• LG Chem
• Guardian Glass
• Nippon Sheet Glass
• IRICO Group New Energy Company Limited.

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