A recently published report by TRENDS MARKET RESEARCH (TMR), reveals that market for flexible glass in Asia Pacific is set to surge at a staggering CAGR of XX% between 2018 and 2028 to reach valuation in excess of US$ XX Mn. Development of displays with higher flexibility threshold is expected to reflect favourably on the flexible glass market in the Asia Pacific in the forthcoming years. Moreover, the flexible glass is likely to find widespread application in 2.5D and 3D semiconductor packaging. In the near future, flexible glass may emerge as a more cost-effective and better alternative for silicon interposer. Developers are also viewing the use of flexible glass in manufacturing flexible OLED display and may potentially replace plastic substrates.
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On the basis of application, the market for flexible glass in Asia Pacific is primarily segmented into solar PV (photovoltaic) and display. Among these two, the display application segment currently hold account for the dominant share of the market. In 2013, this segment is was valued at over US$ XX Mn, and is estimated to stand at a market valuation of over US$ XX Mn by end for 2028, expanding at a robust pace. In addition, the aTMRval of Roll2Roll process is expected to further drive the demand for flexible glass, especially in solar PV manufacturing.
This, in turn, in boosting the growth of solar PV application and making it the fastest growing segment during the assessment period. The display application segment is sub-divided into curved TV, wearables, tablets, smartphones and displays mounted on buildings. Among these, the smartphones & tablets segment is projected to lead, accounting for more than 50% revenue share of the market by the end of the forecast period. Meanwhile, the curved TV segment is projected to reflect a robust CAGR of XX% during the same period. This is primarily attributed to emergence of new market players that are accelerating the demand for flexible glass in manufacturing of curved TV.
On the basis of countries, the market for flexible glass in Asia Pacific is segmented into South Korea, China, Japan and others. Among these, Japan in currently the most attractive market for flexible glass, followed South Korea and China respectively. In addition, the Japan is anticipate to represent for more than one-fourth share of the market in the region by the end of 2025. Meanwhile, existence of the established smartphone & TV manufacturers coupled with increasing number of research and development centres is expected to boost the growth of the market in South Korea.
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Factors such as higher investments R&D programs, integration of flexibility threshold in display, introduction of Roll2Roll process for flexible PV is expected to play a significant role is driving the sales of flexible glass in Asia Pacific over the next couple of years.
Some of the leading companies functioning in the market for flexible glass in the region include Nippon Electric Glass Company Ltd., Asahi Glass Co., Ltd., Schott AG and Corning Inc. The presence of prominent glass manufacturers makes the market highly competitive in the region.