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Global Glass Substrate Market to reach USD 9.03 billion by the end of 2030

Global Glass Substrate Market Size study & Forecast, by Type (Borosilicate, Silicon, Ceramic, Fused Silica/Quartz-Based Glass Substrates, Other Types), by End-Use Industry (Electronics, Automotive, Medical, Aerospace & Defense, Solar) and Regional Analysis, 2023-2030

Product Code: CMGCN-54249708
Publish Date: 29-02-2024
Page: 200

Global Glass Substrate Market is valued at approximately USD 6.86 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.50% during the forecast period 2023-2030. Glass substrate refers to a thin, flat piece of glass material that serves as the foundation or base for various technological applications, such as electronics, optics, and display technologies. It typically exhibits high optical transparency and smoothness, making it suitable for applications such as Liquid Crystal Displays (LCDs), touchscreens, photovoltaic panels, and semiconductor devices. The Glass Substrate Market is expanding because of factors such as rising demand for LCDs in consumer and automotive applications, growing demand in photovoltaic applications and growing urbanization in emerging countries.

The increasing adoption of solar energy as a renewable energy source has led to a surge in the production of solar panels. Glass substrates serve as a crucial component in the manufacturing of photovoltaic modules, providing a durable and transparent cover that protects solar cells from environmental factors while allowing sunlight to penetrate and generate electricity. According to an IRENA (International Renewable Energy Agency) report, global solar photovoltaic (PV) generation experienced an unprecedented surge, recording a remarkable increase of 179 terawatt-hours (TWh) in 2021, marking a 22% rise from 2020. Furthermore, solar energy contributed 3.6% to the total global energy generation in 2021. Additionally, heightened awareness of environmental concerns and the growing need to mitigate carbon emissions have led to an increased demand for solar energy. For instance, according to the International Energy Agency (IEA) report detailing India’s clean energy transition in 2022, the nation has committed to deploying 500 gigawatts of renewable energy capacity. This initiative aims to reduce the emissions intensity of India’s economy by 45% and mitigate up to one billion tons of CO2. This drive toward renewable energy expansion, particularly solar power, directly influences the demand for glass substrates used in photovoltaic applications. In addition, with an increasing focus on personalized medicine, telemedicine, and point-of-care diagnostics, there is a growing demand for glass substrates with enhanced biocompatibility, sterilization capabilities, and optical transparency. However, the high costs related to the development of glass substrate technology and the rise in raw material prices stifled the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Glass Substrate Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as the dominance of established players in the market, growing demand for automotive and rising technological innovation in the region. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as the presence of leading manufacturing hubs such as India, China and Taiwan. Also, rapid industrialization, emergence of the solar energy sector and rising government initiatives drives the market growth in the region.

Major market player included in this report are:
AGC Inc.
Schott AG
Corning, Incorporated
Nippon Sheet Glass Co., Ltd.
Plan Optik AG
HOYA Corporation
Ohara Inc.
IRICO Group New Energy Company Limited
Toppan Inc.
Tunghsu Group Co. Ltd.

Recent Developments in the Market:
Ø In February 2023, AGC Inc. collaborated with Saint-Gobain to create a pilot breakthrough flat glass line that is predicted to dramatically cut direct CO2 emissions.
Ø In January 2023, AGC Inc. created a CADTANK Online Computation and Optimization Assistant (a digital twin technology) for the glass melting process.
Ø In January 2022, Schott AG introduced FLEXINITY, an ultra-fine structured glass that adds a game-changing aspect to semiconductor production, which has traditionally relied on Printed Circuit Boards (PCB) and silicon interposers for advanced chip packaging.

Global Glass Substrate Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Type, End-Use Industry, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Fused Silica/Quartz-Based Glass substrates
Other Types

By End-Use Industry:
Aerospace & Defense

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Glass Substrate Market, by Region, 2020-2030 (USD Billion)
1.2.2. Glass Substrate Market, by Type, 2020-2030 (USD Billion)
1.2.3. Glass Substrate Market, by End-Use Industry, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Glass Substrate Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Glass Substrate Market Dynamics
3.1. Glass Substrate Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising demand for LCDs in Consumer and automotive applications Growing demand in photovoltaic applications Growing urbanization in emerging countries
3.1.2. Market Challenges High cost related to development of glass substrate technology Rise in raw material prices
3.1.3. Market Opportunities Rising demand in healthcare applications Surging adoption of consumer durables and handheld devices
Chapter 4. Global Glass Substrate Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Glass Substrate Market, by Type
5.1. Market Snapshot
5.2. Global Glass Substrate Market by Type, Performance – Potential Analysis
5.3. Global Glass Substrate Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
5.4. Glass Substrate Market, Sub Segment Analysis
5.4.1. Borosilicate
5.4.2. Silicon
5.4.3. Ceramic
5.4.4. Fused Silica/Quartz-Based Glass Substrates
5.4.5. Other Types
Chapter 6. Global Glass Substrate Market, by End-Use Industry
6.1. Market Snapshot
6.2. Global Glass Substrate Market by End-Use Industry, Performance – Potential Analysis
6.3. Global Glass Substrate Market Estimates & Forecasts by End-Use Industry 2020-2030 (USD Billion)
6.4. Glass Substrate Market, Sub Segment Analysis
6.4.1. Electronics
6.4.2. Automotive
6.4.3. Medical
6.4.4. Aerospace & Defense
6.4.5. Solar
Chapter 7. Global Glass Substrate Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Glass Substrate Market, Regional Market Snapshot
7.4. North America Glass Substrate Market
7.4.1. U.S. Glass Substrate Market Type breakdown estimates & forecasts, 2020-2030 End-Use Industry breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Glass Substrate Market
7.5. Europe Glass Substrate Market Snapshot
7.5.1. U.K. Glass Substrate Market
7.5.2. Germany Glass Substrate Market
7.5.3. France Glass Substrate Market
7.5.4. Spain Glass Substrate Market
7.5.5. Italy Glass Substrate Market
7.5.6. Rest of Europe Glass Substrate Market
7.6. Asia-Pacific Glass Substrate Market Snapshot
7.6.1. China Glass Substrate Market
7.6.2. India Glass Substrate Market
7.6.3. Japan Glass Substrate Market
7.6.4. Australia Glass Substrate Market
7.6.5. South Korea Glass Substrate Market
7.6.6. Rest of Asia Pacific Glass Substrate Market
7.7. Latin America Glass Substrate Market Snapshot
7.7.1. Brazil Glass Substrate Market
7.7.2. Mexico Glass Substrate Market
7.8. Middle East & Africa Glass Substrate Market
7.8.1. Saudi Arabia Glass Substrate Market
7.8.2. South Africa Glass Substrate Market
7.8.3. Rest of Middle East & Africa Glass Substrate Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. AGC Inc. Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
8.3.2. Schott AG
8.3.3. Corning, Inc.
8.3.4. Nippon Sheet Glass Co., Ltd.
8.3.5. Plan Optik AG
8.3.6. HOYA Corporation
8.3.7. Ohara Inc.
8.3.8. IRICO Group New Energy Company Limited
8.3.9. Toppan Inc.
8.3.10. Tunghsu Group Co. Ltd.
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

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Critical elements of methodology employed for all our studies include:
Data Collection:
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Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
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