Request FREE sample PDF
Pharmacy benefit management market
DISPLAY GLASS MARKET REPORT OVERVIEW
-
Request a Free Sample to learn more about this report
The global display glass market size was USD 6144 million in 2020 and the market is projected to touch USD 6772 million by 2027, exhibiting a CAGR of 1.4% during the forecast period.
The display glass market, a critical component in electronic devices, continues to evolve with ongoing technological breakthroughs. The industry witnessed a push towards more sustainable practices, prompting companies to invest in research and development to create eco-friendly display glass solutions. Emerging markets are playing a significant role in the market's growth, driven by increasing smartphone and electronic device adoption.
In response to consumer preferences, the market is witnessing a surge in demand for larger screens, higher resolutions, and enhanced durability. The competitive landscape involves strategic partnerships and fierce competition among major players like Corning, Asahi Glass, Nippon Electric Glass, and SCHOTT. However, challenges in the global supply chain, encompassing raw materials and manufacturing processes, have introduced complexities, impacting production timelines and pricing structures. Navigating these challenges while staying attuned to rapidly changing consumer demands remains a key focus for stakeholders in the dynamic display glass market. For the most up-to-date insights, it is advisable to consult recent industry reports and reliable news sources.
COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.
The pandemic led to disruptions in the global supply chain, affecting the production and distribution of display glass. Lockdowns, restrictions, and closures of manufacturing facilities disrupted the supply of raw materials and components. Economic uncertainties and job losses led to reduced consumer spending, impacting the demand for electronic devices and subsequently affecting the market. Many electronic device manufacturers faced delays in launching new products due to supply chain disruptions, affecting the integration of new display technologies and innovations. Restrictions on travel and transport logistics created challenges in the movement of goods, affecting the timely delivery of display glass components and finished products.
The shift to remote work and increased time spent at home led to a surge in demand for home electronics such as monitors, laptops, and televisions, driving the need for display glass. The heightened awareness of hygiene during the pandemic led to increased interest in features like antimicrobial coatings for displays, promoting innovation in this sector. Some manufacturers demonstrated adaptability by pivoting production to meet changing demands.
LATEST TRENDS
"Foldable Displays in Display Glass to Drive Market Growth"
TFT and OLED, both technologies have their advantages and disadvantages in foldable displays. TFT is more affordable and has lower power consumption, while OLED offers superior brightness, contrast, and viewing angles. Manufacturers are working on hybrid solutions that combine the strengths of both technologies. Folding mechanisms need to be durable and minimize screen creases. New materials and hinge designs are constantly being developed to address these challenges. Additionally, software needs to adapt to the unique form factor of foldable displays, ensuring seamless transitions between folded and unfolded modes. The future of foldable displays is brimming with exciting possibilities. As technology advances and costs decrease, we can expect to see wider adoption across various device categories, transforming the way we experience information and entertainment on the go.
DISPLAY GLASS MARKET SEGMENTATION
-
Request a Free Sample to learn more about this report
- By Type
Based on type the global market can be categorized into gen. 8/8+, gen. 6/6.5, gen. 5/5-.
Gen. 8/8+: The eighth generation of this technology, known as Gen. 8/8+, features advancements in size and manufacturing efficiency, supporting larger and more cost-effective production processes.
Gen. 6/6.5: The sixth generation of display glass, denoted as Gen. 6/6.5, represents an intermediate stage in the evolution of display technology, offering improved resolutions and manufacturing capabilities.
Gen. 5/5-: The fifth generation of this sector, designated as Gen. 5/5-, signifies earlier advancements in display technology, with notable improvements in screen clarity and production processes compared to previous generations.
- By Application
Based on application the global market can be categorized into televisions, monitors, laptops, & others.
Televisions: In the market, televisions are driving demand for larger, higher-resolution screens, with a focus on innovations such as OLED and MicroLED technologies to enhance visual experiences.
Monitors: Display glass for monitors is evolving to meet the demands of remote work and gaming, emphasizing features like high refresh rates, adaptive sync technologies, and curved displays to enhance productivity and entertainment experiences.
Laptops: The laptop segment in the market emphasizes portability without compromising display quality, with trends focusing on thinner and lighter form factors, higher resolutions, and advancements in energy-efficient technologies such as OLED displays.
Others: In the diverse landscape of display glass applications, smartphones, tablets, and wearables are driving innovation, with a focus on foldable and flexible displays, as well as durability enhancements to meet consumer preferences for compact and versatile devices.
DRIVING FACTORS
"Emerging Market and Technological Advancements to Boost the Market"
One of the key driving factors in the global display glass market growth is the emerging market and technological advancements in urban areas. The adoption of electronic devices in emerging markets plays a crucial role in the expansion of the market. Increased disposable income, urbanization, and technology penetration contribute to higher demand for electronic devices. Ongoing advancements in display technologies, such as OLED, MicroLED, and quantum dot displays, drive the need for specialized and high-performance display glass to accommodate improved resolutions, color accuracy, and energy efficiency.
"Consumer Electronics Demand and Entertainment Trends to Expand the Market"
Another driving factor in the global display glass market is the electronics demand and entertainment trends offered by these products. The increasing demand for consumer electronics, including smartphones, tablets, TVs, laptops, and monitors, fuels the growth of the market as these devices rely heavily on high-quality and durable display panels. The shift towards remote work and increased reliance on home entertainment drive demand for monitors, laptops, and TVs, influencing the display glass market with a focus on enhanced clarity, color reproduction, and larger screen sizes. The growing adoption of digital signage in various industries, such as retail, healthcare, and transportation, contributes to the demand for display glass.
RESTRAINING FACTOR
"High Manufacturing Cost and Intense Competition to Potentially Impede Market Growth"
One of the key restraining factors in the global display glass market is the high manufacturing costs and intense competition for these products. The production of high-quality display glass, especially for advanced technologies like OLED and MicroLED, involves sophisticated manufacturing processes, leading to elevated production costs that can impact pricing and market accessibility. The industry is marked by fierce competition among key players. This competition can lead to price wars, reduced profit margins, and increased pressure on companies to continually innovate to maintain a competitive edge.
DISPLAY GLASS MARKET REGIONAL INSIGHTS
-
Request a Free Sample to learn more about this report
"Asia Pacific Region Dominating the Market due to Presence of a Large Consumer Base"
The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.
Asia-Pacific has emerged as the most dominant region in the global display glass market share due to several factors. China, South Korea, and Japan are major manufacturing hubs for display glass in the Asia-Pacific region. These countries host some of the largest and most advanced production facilities for display panels, meeting the global demand for electronic devices. China, in particular, has become a global leader in electronics manufacturing. The country's robust manufacturing ecosystem supports the production of a wide range of electronic devices, from smartphones and TVs to laptops and wearables, all of which incorporate display glass. South Korea and Japan have been pioneers in display technology innovations. Companies like Samsung Display and LG Display from South Korea are global leaders in the development of cutting-edge display technologies, including OLED and flexible displays.
KEY INDUSTRY PLAYERS
"Key Industry Players Shaping the Market through Innovation and Market Expansion"
The display glass market is notably shaped by influential industry leaders who play a crucial role in steering market dynamics and influencing consumer choices. These key players boast widespread distribution channels and online platforms, ensuring consumers have convenient access to a diverse range of options. Their robust global footprint and established brand identities foster heightened consumer confidence and loyalty, facilitating the widespread adoption of display glass products. Additionally, these industry leaders consistently allocate resources to research and development endeavors, unveiling innovative designs, materials, and intelligent features in display glass solutions that align with the evolving needs and preferences of consumers. The collaborative initiatives of these major players significantly mold the competitive landscape and chart the future trajectory of the display glass market.
List of Market Players Profiled
- Corning (U.S.)
- AGC (Japan)
- NEG (Japan)
- Tunghsu Optoelectronic (China)
- AvanStrate (Japan)
- IRICO Group (China)
- Central Glass (Japan)
INDUSTRIAL DEVELOPMENT
December 2023: BOE partners with leading smartphone brands to supply flexible OLED panels, indicating wider adoption and cost reduction in the foldable display market.
REPORT COVERAGE
The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.
The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 6144 Million in 2020 |
Market Size Value By |
US$ 6772 Million by 2027 |
Growth Rate |
CAGR of 1.4% from 2020 to 2027 |
Forecast Period |
2022-2027 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
-
What value is the display glass market expected to touch by 2027?
The global display glass market is expected to reach USD 6772 million by 2027.
-
What CAGR is the display glass market expected to exhibit by 2027?
The display glass market is expected to exhibit a CAGR of 1.4% by 2027.
-
Which are the driving factors of the display glass market?
Emerging market and technological advancements, and consumer electronics demand and entertainment trends are some of the driving factors of the display glass market.
-
What are the key display glass market segments?
The display glass market segmentation that you should be aware of, which include, Based on type the display glass market is classified as gen. 8/8+, gen. 6/6.5, gen. 5/5-. Based on application the display glass market is classified as televisions, monitors, laptops, & others.