Glass Substrate Market Size Worth USD 9.48 Billion By 2032, CAGR: 3.4%

Glass Substrate Market Size Worth USD 9.48 Billion By 2032 | CAGR: 3.4%


The Glass Substrate market size is expected to reach USD 9.48 Billion by 2032, according to a new study by Polaris Market Research. The report “Glass Substrate Market Share, Size, Trends, Industry Analysis Report, By Type; By Technology; By Application; By End-Use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The consumer electronics industry is rapidly expanding, driven by a combination of factors such as rising disposable incomes and rapid technological advancements. This increase in demand is especially renowned for glass substrates, which play an important role in the manufacture of various electronic devices. As consumers around the world embrace a more digital lifestyle, the demand for high-quality displays, touchscreens, and other electronic components has increased. Glass substrates, known for their strength, transparency, and conductivity, have become essential in the production of smartphones, tablets, smart TVs, and other electronic devices.

The growth of advanced display technologies, particularly Organic Light-Emitting Diode (OLED) and microLED, has had a significant impact on the glass substrate market. OLED technology has gained popularity because of its ability to produce vibrant colors, high contrast ratios, and thin, flexible displays. As a result, it has become widely used in a variety of electronic devices, including smartphones, televisions, and wearables. The use of glass substrates in OLED displays improves their durability and appearance.

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The market witnessed increased adoption of thin and flexible glass substrates, owing to the growing popularity of foldable and flexible electronic devices. Furthermore, there has been a significant increase in demand for glass substrates in the display industry, particularly for applications in laptops, tablets, and large-sized displays. Innovations in glass manufacturing processes, such as the creation of ultra-thin and lightweight glass, were also gaining traction in the consumer electronics and automotive industries. The market was influenced by an emphasis on environmentally sustainable practices and materials, particularly eco-friendly glass substrates and manufacturing methods. Continuous advancements in smart glass technology, including switchable glass for energy-efficient applications, are driving glass substrate market growth.

Glass Substrate Market Report Highlights

  • The borosilicate-based glass substrates segment held the largest market share in 2023, owing to their superior properties like high surface strength and high chemical resistivity.
  • The electronics segment dominated the market in 2023, due to the rising utilization of glass substrates in the industry.
  • Asia-Pacific has witnessed the fastest growth in the glass substrate market due to the increased usage of electronics and the presence of the largest manufacturers in the region.
  • The key market players include 3D Micromac, AGC, Corning Inc., HOYA Corporation, IRICO Group New Energy Company Limited, LG Chem, Nippon Sheet Glass, OHARA Inc., SCHOTT, and The Tunghsu Group.

Polaris Market Research has segmented the Glass Substrate market report based on type, technology, application, end-use, and country:

Glass Substrate, Type Outlook (Revenue - USD Billion, 2019 - 2032)

  • Borosilicate-based glass substrates
  • Silicon-based glass substrates
  • Ceramic-based glass substrates
  • Fused silica-/quartz-based glass substrates
  • Other Types

Glass Substrate, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

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

Glass Substrate, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Australia
  • Malaysia
  • Rest of Asia Pacific
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Rest of Latin America
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa
  • Rest of Middle East & Africa

Glass Substrate Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 7.23 billion

Revenue forecast in 2032

USD 9.48 billion

CAGR

3.4% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments Covered

By Type, By End-Use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Customization    

Report customization as per your requirements with respect to countries, region and segmentation

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  • Regional analysis
  • Segmentation analysis
  • Industry outlook
  • Competitive landscape
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