LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global ultra-thin glass market to grow at a CAGR of close to 12% during the period 2018-2022, according to their latest report.
In this report, Technavio highlights the ultra-thin glass in roll form as one of the key emerging trends in the global ultra-thin glass market. The ultra-thin glass was conventionally used in cut sheet form, but there is an emerging trend of ultra-thin glass in toll forms, which has increased the applications of ultra-thin and flexible glass. It can be used in applications that require flexibility and durability. In addition, it can provide the benefits of physical and chemical properties of glass. Ultra-thin glass also aids in overcoming the drawback that plastic faces of not being gas-tight, thus not providing protection for electronic components.
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In this report, Technavio analysts highlight the increase in demand for flat panel displays as a key factor contributing to the growth of the global ultra-thin glass market:
Increase in demand for flat panel displays
The increasing demand for flat panel displays is expected to drive the global ultra-thin glass market in the forecast period. Consumers are demanding bigger displays in liquid-crystal display televisions, smartphones, automotive, and tabs. Out of these applications, TV screens size is expected to be the biggest driver during the forecast period.
According to a senior analyst at Technavio for glass and ceramics, “The flat panel displays in the automotive industry are driven by the demand for larger central information displays and the growth of smart cars, which use advanced driver assistance systems.”
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Global ultra-thin glass market segmentation
This market research report segments the global ultra-thin glass market into the following end-user (consumer electronics, energy storage, and lighting) and key regions (the Americas, APAC, and EMEA).
Of the three major end-users, the consumer electronics segment held the largest market share in 2017, accounting for nearly 51% of the market. The market share for this end-user is expected to increase nearly 1% by 2022. The fastest growing end-user is consumer electronics, which will account for nearly 52% of the total market share by 2022.
APAC was the leading region for the global ultra-thin glass market in 2017, accounting for a market share of nearly 62%. By 2022, APAC is expected to continue dominating the market and register the highest growth rate.
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