Glass Substrate Market
PUBLISHED: 2024 ID: SMRC25537
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Glass Substrate Market

Glass Substrate Market Forecasts to 2030 - Global Analysis By Type (Soda-Lime Glass, Borosilicate Glass, Aluminosilicate Glass, Fused Silica Glass, Specialty Glass and Other Types), Functionality (Transparent, Opaque and Translucent), Sales Channel, Technology, Application, End User and By Geography

4.3 (71 reviews)
4.3 (71 reviews)
Published: 2024 ID: SMRC25537

This report covers the impact of COVID-19 on this global market
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Years Covered

2021-2030

Estimated Year Value (2023)

US $7.51 BN

Projected Year Value (2030)

US $10.92 BN

CAGR (2023 - 2030)

5.5%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Glass Substrate Market is accounted for $7.51 billion in 2023 and is expected to reach $10.92 billion by 2030 growing at a CAGR of 5.5% during the forecast period. A glass substrate is a flat, rigid material made from glass used as a base for electronic components. It provides structural support and serves as a foundation for depositing thin films of various materials. Glass substrates are chosen for their transparency, smoothness, and thermal properties. The properties of the glass substrate significantly influence the performance and durability of the final product.

According to India Brand Equity Foundation (IBEF), the healthcare industry in the country is expected to reach by USD 372 billion by 2022.

Market Dynamics: 

Driver: 

Surging demand for solar panels

As renewable energy initiatives continue to gain traction globally, the need for high-quality glass substrates for solar panels has increased substantially. Glass substrates are essential components in solar panel manufacturing, providing durability and transparency for efficient energy conversion. This rising demand has led to advancements in glass substrate technology, including thinner and more efficient designs, further driving growth in the market. With the push towards sustainable energy sources, the demand for glass substrates is expected to continue its upward trajectory.

Restraint:

Fluctuating raw material prices

Fluctuating raw material prices in the glass substrate industry are primarily influenced by factors such as supply chain disruptions, changes in energy costs, and currency fluctuations. These fluctuations can lead to increased production costs for manufacturers, affecting their profitability and pricing strategies. Additionally, higher production costs may ultimately be passed on to consumers, potentially dampening demand for glass substrates and hindering overall market growth.

Opportunity:

Expansion of the automotive industry

The vehicle manufacturers incorporate more advanced technologies into their vehicles, such as heads-up displays, touch screens, and advanced driver assistance systems (ADAS), which has increased the demand for high-quality glass substrates. These substrates are essential components in the production of automotive displays and sensors, providing durability, clarity, and functionality. As a result, the expansion of the automotive industry has led to greater opportunities and demand for glass substrates, driving growth in the market.

Threat:

Intense competition from alternatives

Alternatives such as plastic substrates and organic materials offer advantages such as flexibility, lightweight, and lower cost. The availability of alternative materials may lead some consumers to choose non-glass options, thereby reducing overall demand for glass substrates in certain applications. As a result, the market faces pressure to adapt and differentiate its offerings. This competition can hamper market growth as manufacturers must continually innovate to maintain market share.

Covid-19 Impact

The covid-19 pandemic significantly impacted the glass substrate market. Initially, the market faced disruptions due to supply chain interruptions, workforce shortages, and decreased demand from industries like electronics and automotive. Lockdown measures and economic uncertainties led to project delays and cancellations, affecting glass substrate manufacturers. However, as economies gradually reopened and remote work surged, there was a rebound in demand for electronic devices, driving the need for glass substrates in applications like displays and semiconductors.

The fused silica glass segment is expected to be the largest during the forecast period

The fused silica glass segment is estimated to have a lucrative growth. Fused silica glass, a high-purity form of silicon dioxide, serves as a crucial substrate in various industries due to its exceptional optical and thermal properties. Produced through a specialized manufacturing process involving melting and cooling, it boasts low thermal expansion, high transparency across a wide spectrum, and excellent resistance to temperature fluctuations. Its purity and stability make it suitable for demanding environments like space exploration and high-energy physics experiments.

The electronics segment is expected to have the highest CAGR during the forecast period

The electronics segment is anticipated to witness the highest CAGR growth during the forecast period. Glass substrates provide a stable, flat surface for depositing semiconductor materials and creating intricate electronic circuits. They offer excellent thermal and dimensional stability, crucial for maintaining device performance over time. Furthermore, glass substrates enable high-resolution imaging and ensure durability in electronic devices, enhancing their longevity and reliability. With advancements in glass technology, thinner and more flexible substrates are being developed, enabling new possibilities in electronic device design and functionality.

Region with largest share:

The Asia-Pacific region is a key player in the glass substrate market, driven by rapid industrialization, urbanization, and technological advancements. Countries like China, Japan, South Korea, and Taiwan are major contributors to market growth, with established electronics and automotive industries. The region benefits from a skilled workforce, robust infrastructure, and favourable government policies promoting innovation and investment in manufacturing. The growing demand for consumer electronics further fuels the demand for high-quality glass substrates in the Asia-Pacific region, making it a lucrative market for industry players.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the presence of leading electronics and automotive manufacturers. The region benefits from a well-developed infrastructure, skilled workforce, and significant investments in research and development. Key players in the market include the United States and Canada, where companies leverage advanced manufacturing processes. Additionally, increasing adoption of smart devices and electric vehicles further stimulates market growth in the North American region. 

Key players in the market

Some of the key players profiled in the Glass Substrate Market include Corning Incorporated, Asahi Glass Co. Limited, Nippon Electric Glass Corporation, SCHOTT AG, Guardian Industries, Intel Corporation, IRICO Group, Plan Optik AG, AvanStrate Inc., OHARA Inc., Abrisa Technologies, Saint-Gobain S.A., Taiwan Glass Corporation, LG Chem Limited and  Tecnisco Limited.

Key Developments:

In September 2023, Intel has launched a novel glass substrate designed for “next-generation advanced packaging. The glass substrates are designed to enable the scaling of transistors in a package and advance Moore's Law.

In June 2023, Saint-Gobain India has unveiled its first production of a new glass with a remarkably low carbon footprint. This new glass substrate will retain the same level of technical, quality, and aesthetic performance as regular glass. It will soon be integrated as an option in the energy-efficient glass portfolio of Saint-Gobain Glass India, significantly contributing to the reduction of embodied carbon in buildings while enhancing operational energy efficiency.

Types Covered:
• Soda-Lime Glass
• Borosilicate Glass
• Aluminosilicate Glass
• Fused Silica Glass
• Specialty Glass
• Other Types

Functionalities Covered:
• Transparent
• Opaque
• Translucent

Sales Channels Covered:
• Direct Sales
• Distributors/Wholesalers
• Online Retail
• Specialty Stores
• Other Sales Channels

Technologies Covered:
• Float Glass Technology
• Rolled Glass Technology
• Sheet Glass Technology
• Quartz Glass Technology
• Other Technologies

Applications Covered:
• Flat Panel Displays
• Photovoltaic Cells
• Semiconductor Substrates
• Architectural Glass
• Optical Devices
• Other Applications

End Users Covered:
• Electronics
• Automotive
• Healthcare
• Aerospace & Defense
• Construction
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary           
             
2 Preface            
 2.1 Abstract           
 2.2 Stake Holders          
 2.3 Research Scope          
 2.4 Research Methodology         
  2.4.1 Data Mining         
  2.4.2 Data Analysis         
  2.4.3 Data Validation         
  2.4.4 Research Approach         
 2.5 Research Sources          
  2.5.1 Primary Research Sources        
  2.5.2 Secondary Research Sources        
  2.5.3 Assumptions         
             
3 Market Trend Analysis          
 3.1 Introduction          
 3.2 Drivers           
 3.3 Restraints          
 3.4 Opportunities          
 3.5 Threats           
 3.6 Technology Analysis         
 3.7 Application Analysis         
 3.8 End User Analysis          
 3.9 Emerging Markets          
 3.10 Impact of Covid-19          
             
4 Porters Five Force Analysis          
 4.1 Bargaining power of suppliers         
 4.2 Bargaining power of buyers         
 4.3 Threat of substitutes         
 4.4 Threat of new entrants         
 4.5 Competitive rivalry          
             
5 Global Glass Substrate Market, By Type         
 5.1 Introduction          
 5.2 Soda-Lime Glass          
 5.3 Borosilicate Glass          
 5.4 Aluminosilicate Glass         
 5.5 Fused Silica Glass          
 5.6 Specialty Glass          
 5.7 Other Types          
             
6 Global Glass Substrate Market, By Functionality        
 6.1 Introduction          
 6.2 Transparent          
 6.3 Opaque           
 6.4 Translucent          
             
7 Global Glass Substrate Market, By Sales Channel        
 7.1 Introduction          
 7.2 Direct Sales          
 7.3 Distributors/Wholesalers         
 7.4 Online Retail          
 7.5 Specialty Stores          
 7.6 Other Sales Channels         
             
8 Global Glass Substrate Market, By Technology        
 8.1 Introduction          
 8.2 Float Glass Technology         
 8.3 Rolled Glass Technology         
 8.4 Sheet Glass Technology         
 8.5 Quartz Glass Technology         
 8.6 Other Technologies          
             
9 Global Glass Substrate Market, By Application        
 9.1 Introduction          
 9.2 Flat Panel Displays          
 9.3 Photovoltaic Cells          
 9.4 Semiconductor Substrates         
 9.5 Architectural Glass          
 9.6 Optical Devices          
 9.7 Other Applications          
             
10 Global Glass Substrate Market, By End User        
 10.1 Introduction          
 10.2 Electronics          
 10.3 Automotive          
 10.4 Healthcare          
 10.5 Aerospace & Defense         
 10.6 Construction          
 10.7 Other End Users          
             
11 Global Glass Substrate Market, By Geography        
 11.1 Introduction          
 11.2 North America          
  11.2.1 US          
  11.2.2 Canada          
  11.2.3 Mexico          
 11.3 Europe           
  11.3.1 Germany          
  11.3.2 UK          
  11.3.3 Italy          
  11.3.4 France          
  11.3.5 Spain          
  11.3.6 Rest of Europe         
 11.4 Asia Pacific          
  11.4.1 Japan          
  11.4.2 China          
  11.4.3 India          
  11.4.4 Australia          
  11.4.5 New Zealand         
  11.4.6 South Korea         
  11.4.7 Rest of Asia Pacific         
 11.5 South America          
  11.5.1 Argentina         
  11.5.2 Brazil          
  11.5.3 Chile          
  11.5.4 Rest of South America        
 11.6 Middle East & Africa         
  11.6.1 Saudi Arabia         
  11.6.2 UAE          
  11.6.3 Qatar          
  11.6.4 South Africa         
  11.6.5 Rest of Middle East & Africa        
             
12 Key Developments           
 12.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 12.2 Acquisitions & Mergers         
 12.3 New Product Launch         
 12.4 Expansions          
 12.5 Other Key Strategies         
             
13 Company Profiling           
 13.1 Corning Incorporated         
 13.2 Asahi Glass Co. Limited         
 13.3 Nippon Electric Glass Corporation        
 13.4 SCHOTT AG          
 13.5 Guardian Industries          
 13.6 Intel Corporation          
 13.7 IRICO Group          
 13.8 Plan Optik AG          
 13.9 AvanStrate Inc.          
 13.10 OHARA Inc.          
 13.11 Abrisa Technologies         
 13.12 Saint-Gobain S.A.          
 13.13 Taiwan Glass Corporation         
 13.14 LG Chem Limited          
 13.15 Tecnisco Limited          
             
List of Tables            
1 Global Glass Substrate Market Outlook, By Region (2021-2030) ($MN)      
2 Global Glass Substrate Market Outlook, By Type (2021-2030) ($MN)      
3 Global Glass Substrate Market Outlook, By Soda-Lime Glass (2021-2030) ($MN)     
4 Global Glass Substrate Market Outlook, By Borosilicate Glass (2021-2030) ($MN)     
5 Global Glass Substrate Market Outlook, By Aluminosilicate Glass (2021-2030) ($MN)    
6 Global Glass Substrate Market Outlook, By Fused Silica Glass (2021-2030) ($MN)     
7 Global Glass Substrate Market Outlook, By Specialty Glass (2021-2030) ($MN)     
8 Global Glass Substrate Market Outlook, By Other Types (2021-2030) ($MN)     
9 Global Glass Substrate Market Outlook, By Functionality (2021-2030) ($MN)     
10 Global Glass Substrate Market Outlook, By Transparent (2021-2030) ($MN)     
11 Global Glass Substrate Market Outlook, By Opaque (2021-2030) ($MN)      
12 Global Glass Substrate Market Outlook, By Translucent (2021-2030) ($MN)     
13 Global Glass Substrate Market Outlook, By Sales Channel (2021-2030) ($MN)     
14 Global Glass Substrate Market Outlook, By Direct Sales (2021-2030) ($MN)     
15 Global Glass Substrate Market Outlook, By Distributors/Wholesalers (2021-2030) ($MN)    
16 Global Glass Substrate Market Outlook, By Online Retail (2021-2030) ($MN)     
17 Global Glass Substrate Market Outlook, By Specialty Stores (2021-2030) ($MN)     
18 Global Glass Substrate Market Outlook, By Other Sales Channels (2021-2030) ($MN)    
19 Global Glass Substrate Market Outlook, By Technology (2021-2030) ($MN)     
20 Global Glass Substrate Market Outlook, By Float Glass Technology (2021-2030) ($MN)    
21 Global Glass Substrate Market Outlook, By Rolled Glass Technology (2021-2030) ($MN)    
22 Global Glass Substrate Market Outlook, By Sheet Glass Technology (2021-2030) ($MN)    
23 Global Glass Substrate Market Outlook, By Quartz Glass Technology (2021-2030) ($MN)    
24 Global Glass Substrate Market Outlook, By Other Technologies (2021-2030) ($MN)     
25 Global Glass Substrate Market Outlook, By Application (2021-2030) ($MN)     
26 Global Glass Substrate Market Outlook, By Flat Panel Displays (2021-2030) ($MN)     
27 Global Glass Substrate Market Outlook, By Photovoltaic Cells (2021-2030) ($MN)     
28 Global Glass Substrate Market Outlook, By Semiconductor Substrates (2021-2030) ($MN)    
29 Global Glass Substrate Market Outlook, By Architectural Glass (2021-2030) ($MN)     
30 Global Glass Substrate Market Outlook, By Optical Devices (2021-2030) ($MN)     
31 Global Glass Substrate Market Outlook, By Other Applications (2021-2030) ($MN)     
32 Global Glass Substrate Market Outlook, By End User (2021-2030) ($MN)      
33 Global Glass Substrate Market Outlook, By Electronics (2021-2030) ($MN)     
34 Global Glass Substrate Market Outlook, By Automotive (2021-2030) ($MN)     
35 Global Glass Substrate Market Outlook, By Healthcare (2021-2030) ($MN)     
36 Global Glass Substrate Market Outlook, By Aerospace & Defense (2021-2030) ($MN)    
37 Global Glass Substrate Market Outlook, By Construction (2021-2030) ($MN)     
38 Global Glass Substrate Market Outlook, By Other End Users (2021-2030) ($MN)     
             
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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