Display Glass Substrate Market Insights
Display glass substrate is a special glass used for supporting TFT (Thin Film Transistor), LCD (Liquid Crystal Display) and OLED panels forming display units for products including televisions, personal computers and mobile phones. Ever display panel consists of various components stacked in a number of layers, which includes a color filter, a polarizer and a liquid crystal display with the glass substrate being the most important. In 2016, the display glass substrate market was valued at US$ 1.42 Billion and is projected to reach US$ 1.97 Billion by 2028, growing at a CAGR of 5.7%. With the expanding demand for consumer grade electronic devices such as smartphones, laptops and personal computers, the global display glass substrate market is expected to grow during the forecast period.
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Display Glass Substrate Market Dynamics
The expanding use of LCD’s in smart handheld devices, consumer durables and other automotive applications is one of the most powerful factors projected to drive the growth of the display glass substrate market. Moreover, the advancements in the electronics and semiconductor industries is further projected to drive the increasing demand for display glass substrates. The electronics industry is the largest end-using commerce segment that suitably utilizes display glass substrates and the general growth for the display glass substrate market is heavily dependent on it. Increasing in manufacturing of display devices, electronic components, semiconductor devices, MEMS (Microelectronic Mechanical System) devices and computing & telecommunication devices is expected to drive the growth for the display glass substrate market. However, the immense manufacturing cost of display glass substrates acts as a restraint to the expansion of the display glass substrate market. Manufacturers of display glass substrates are focusing on directing their earnings through several process control techniques with the aim of optimizing production costs to a certain level.
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Display Glass Substrate Market Regional Overview
Asia Pacific is accredited to be the largest market for display glass substrates. The display glass substrate market in the Asia Pacific region is estimated to grow at the highest CAGR during the forecast period owing to the occupancy of numerous electronics manufacturers in this region. China, Hong Kong and South Korea are expected to account for the largest share of the glass substrate market in the Asia Pacific region in 2028 as most of the major producers of display glass substrates such as Nippon Sheet Glass (Japan) and The Tungshu Group (China) are located in the Asia Pacific region. The Asia Pacific region accounts for over 37% of the total display glass substrate market. Other regions include North America and Europe with a market share of 8% and 3% in the global display glass substrate market.
Display Glass Substrate Market Key Players
Some of the key players in the global display glass substrate market are Corning Incorporated, LG Chem, AGC Incorporated, AvanStrate Incorporated, SCHOTT Ag, Tungshu Optoelectronics, IRICO Group New Energy Company Limited and CGC Glass.
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This post was originally published on Space Market Research