According to the latest report by IMARC Group, titled "Flexible Glass Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global flexible glass market size reached US$ 1.49 Billion in 2021. Flexible glass is an ultra-thin glass that has similar properties to that of a rigid glass material but can bend multiple times without breaking. It is characterized by minimal thickness with reduced weight and enhanced durability. Unlike other materials, such as metal, plastic and silicon, flexible glass offers improved strength and better thermal stability. Its utilization additionally improves the aesthetic appeal and compactness of the consumer electronics it is used in while providing scratch resistance to the surface. The flexible nature of the glass enables it be widely utilized in numerous application segments, that include electronic, solar panels, interior building activities and automotive window panes.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Flexible Glass Market Trends:
The market is primarily driven by the increasing demand for consumer electronics on the global level, coupled with the advancements in display technology. Since flexible glass is widely used as display screens of various tablets, smartphones, televisions, curved monitors and laptops due to its excellent flexibility, elasticity and scratch resistance, this is providing a thrust to the market growth. The market is further facilitated by the rising demand for slim displays in electronic products and aesthetically attractive gadgets. Apart from this, these types of glasses are extensively utilized in the formation of thin film solar cells on account of their excellent heat resistance property. Enhanced focus on sustainable development is, therefore, creating a positive outlook for the market. The market is further driven by the introduction of innovative product variants, including lightweight and roll-on glasses. Numerous players are also utilizing novel plastic and metal substrates to launch cost-effective product variants in the market, which is anticipated to gain prominence among end users. Some of the other factors contributing to the market growth include rising utilization of flexible glass in wearable devices, the growing emphasis on glass material recycling and the increasing demand from the automotive industry. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 6.5% during the forecast period (2022-2027).
- On the basis of the application, the market has been divided into displays, sensors, photovoltaic cell, and others.
- Based on the end use industry, the market has been classified into electronics, automotive, energy and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Abrisa Technologies, AGC Inc., Corning Incorporated, Dupont Displays Inc., Kent Displays Inc., LG Display Co. Ltd. (LG Corporation), LISEC Holding GmbH, Materion Corporation, Nippon Electric Glass Co. Ltd., Schott AG (Carl-Zeiss-Stiftung), and Universal Display Corporation.
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