Glass Substrate Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

Glass Substrate Market Analysis 

Glass substrate, also known as float glass, raw glass, or glass liter, is an independent glass ply used in the manufacturing of glass products. Glass substrates allow panel manufacturers to evolve display panels that are environmentally sustainable, lighter, and thinner. To reduce environmental impact of production, producers are gradually promoting the products that contain no unnecessary heavy metals. Glass is commonly used in daily life, and is widely applicable across various industries, including flat panel display, smart handheld devices, and automotive applications. Owing to its superior chemical, mechanical, electrical, and optical characteristics, applications of glass substrate are constantly evolving. The demand for glass substrates is expected to grow over the coming years due to its characteristics such as lower micro-roughness and smoothness.

Key drivers of glass substrate market

An improvement in the manufacture of semiconductors; electronics components; display devices; MEMS devices; and information, computing, and telecommunication systems is anticipated to fuel growth of the glass substrates market in the electronics industry. In addition, rise in need for glass substrates in the semiconductor industry, the growing use of smart handheld devices, LCDs in consumer durables and other devices, the need for strengthened shock resistance along with higher stability are some of the key factors driving the growth of the global glass substrates in the semiconductor market.

Market scenario: opportunities and challenges

Increase in demand for electronic products in developed countries are key factors anticipated to augment growth of the market during the forecast period. Adoption of LCDs in smart handheld devices and automotive applications is projected to create growth opportunities for glass substrates, which, in turn, fuels the growth of global glass substrates market over the projected timeframe. Factors such as increase in demand for smartphones, televisions, and tablets and rise in usage of hard disk in cloud applications are projected to fuel the market growth in the near future. Efforts are being taken by market competitors to upgrade their research and development activities to introduce novel products in this field, thus, the demand for glass substrates is anticipated to grow at a significant rate during the forecast period with the improvement in technology. However, high production cost of glass substrates is one of the factors, which restrains the growth of glass substrate market. 

COVID-19 scenario analysis

Owing to the outbreak of the COVID-19 pandemic, the global glass substrate market is expected to witness a slowdown during the next couple of years. This is attributed to the shutdown of factories across all cities and provinces, globally, leading to predictions of a sharp slowdown. In addition, recent decline in the growth of the electronics industry is one of the key factors that is likely to negatively impact the growth the glass substrate market. Thus, companies are dealing with missing sales and disrupted supply chains, as production activities are shutdown.

Key benefits of the report

• This study presents the analytical depiction of the global glass substrate industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global glass substrate market share.
• The current market is quantitatively analyzed to highlight the global glass substrate market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years. 

Questions answered in the global glass substrate market research report

• Which are the leading market players active in the global glass substrate market?
• What are the current trends that will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities of the market?
• What are the projections for the future that would help in taking further strategic steps?

 Glass Substrate Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights