The glass substrate market size is estimated to be USD 7.1 billion in 2023, and it is projected to reach USD 8.4 billion by 2028 at a CAGR of 3.5%. Glass substrates, characterized as thin, flat glass boards with precision-deposited circuits, are crafted from diverse raw materials including borosilicate, silicon, ceramic, fused silica/quartz, soda-lime, and aluminosilicate. Available in the form of disks and panels, with disks referred to as wafers mainly employed in semiconductor manufacturing, and panels utilized in LCD production, these substrates’ shape, size, thickness, sharpness, and flexibility are tailored to meet specific end-use application requirements. The heightened demand for glass substrates across industries like electronics, automotive, medical, aerospace & defense, and solar, for the production of semiconductors, LCDs, sensors, and solar panels, stands out as a pivotal factor expected to propel the growth of the glass substrate market.
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The glass substrate market is segmented on the basis of types that are present in the market, such as borosilicate-based glass substrates, silicon-based glass substrates, ceramic-based glass substrates, fused silica-/quartz-based glass substrates, and others. Glass substrate is used in several end-use industries such as electronics, automotive, medical, aerospace & defense, and solar. Some of the leading companies involved in the manufacturing of glass substrate are AGC Inc. (Japan), Schott (Germany), Corning Incorporated (US), Nippon Sheet Glass Co., Ltd. (Japan), and HOYA Corporation (Japan), and others are covered in the glass substrate market. Various growth strategies such as acquisitions, product launches, expansion, partnerships, mergers, etc. have been adopted by these players to strengthen their position in the glass substrate market.
AGC Inc. (Japan) is involved in the manufacturing and sale of a diverse range of products, including glass, electronic materials, and chemicals. The company operates through various segments, namely Architectural Glass, Automotive, Electronics, Chemicals, Life Science, Ceramics, and Others. In the Architectural Glass segment, AGC provides an array of products such as security glass, decorative glass, fire-resistant glass, and heat-insulating glass. The Automotive segment focuses on supplying glass for displays, sensors, connected drives, windows, and trains. The Electronics segment specializes in offering glass for display panels, optical thin film products, opto-electronic materials, synthetic quartz products, semiconductor components, and lighting products. The Chemicals segment deals with chlor-alkali and urethane products, water and oil repellents, solvents, gases, and specialty chemicals. The Life Science segment caters to the biopharmaceutical and agrochemicals industry with specialized glasses. The Ceramics and Other segment encompasses ceramic products, logistics, and financial services within its diversified portfolio.
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Corning Incorporated (US) a renowned manufacturer and distributor, specializes in ceramics, specialty glasses, and associated materials. The company is a leading provider of advanced optics and specialized glasses tailored for the semiconductor, consumer electronics, aerospace and defense, optics, and telecom markets. Corning’s diverse range of products is widely utilized in optical communications, mobile consumer electronics, displays, automotive applications, and life sciences. With research laboratories located in the United States, Corning conducts extensive research and development activities. The company’s global business operations encompass the Americas, Europe, Asia-Pacific, the Middle East, and Africa, reflecting its broad international presence and impact.
Nippon Sheet Glass Co., Ltd. (Japan) is a prominent manufacturer and distributor specializing in glass and glazing systems. The company offers a diverse range of architectural glass products tailored for both commercial and residential projects, emphasizing refurbishment and development. NSG is a key player in the automotive glazing sector, providing solutions for new vehicles and replacement markets. Additionally, the company is known for its specialty glass and glass fiber products, encompassing a wide spectrum, from fire-resistant glass and solar control glass to noise control glazing, thermal insulation glass, safety and security glazing, and glass designed for solar energy applications. NSG’s extensive product portfolio extends to include thin display glass, glass cords for automotive engine belts, copier, and printer lenses, as well as specialized offerings like glass flake, metashine, and battery separators. With manufacturing facilities strategically located in various countries, NSG effectively markets its products across Asia-Pacific, North America, South America, and Europe.
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