The consistent innovation in technology has brought about a sea-change in the flexible electronics sector. High consumer demand for lightweight and ultra-thin devices has led to the adoption of flexible glass in the manufacture of electronics, especially smartphones, tablets, and wearable gadgets.
The Advantages of Flexible Glass
The numerous advantages of flexible glass have made it an appealing prospect for manufacturers. Flexible glass not only helps reduce thickness and weight, but also plays a major role in improving the lifetime and quality of a device. Flexible glass is thermally and dimensionally stable, and its moisture-resistant properties make it an excellent choice for use in the electronics sector.
Growth in the Smartphone and Tablets Market will Boost the Asia Pacific Flexible Glass Market
The global flexible glass market is forecasted to grow steadily through 2020. The Asia Pacific flexible glass market is also projected to witness steady growth and reach a valuation of US$ 612.7 Mn by 2020. Growth in the smartphones and tablets market is anticipated to be the key driver for the Asia Pacific flexible glass market. It is anticipated that the Asia Pacific flexible glass market will exhibit a 36.5% CAGR during the forecast period. Japan, South Korea, and China will be the key regions for the growth of the Asia Pacific flexible glass market.
Displays and Solar Photovoltaics (PV): Key Markets for Asia Pacific Flexible Glass Market
On the basis of applications, the Asia Pacific flexible glass market is segmented into displays and solar PV. The display application segment is currently the most dominant, and it is anticipated to exhibit a 33.4% CAGR and reach a valuation of US$ 417.2 Mn by 2020. It is forecasted that the manufacturers will replace plastic with flexible display materials and this will create opportunities for the growth of the Asia Pacific flexible glass market in the near future.
Display segment is further sub-segmented into building mounted displays, smartphones and tablets, curved TV, and wearables. Among these segments, smartphones and tablets is the dominant sub-segment, and it is projected to achieve a CAGR of 34.3% during the forecast period. It is estimated that the smartphones and tablets sub-segment will be worth US$ 306.7 Mn by 2020. The growth in the smartphones and tablets sub-segment will be a major contributor to the Asia Pacific flexible glass market.
Currently, the worth of curved TV sub-segment is only US$ 9.9 Mn, but it is projected that it will witness the highest growth rate among other application sub-segments and reach a valuation of US$ 65.9 Mn by 2020.
The outlook on the building mounted display application sub-segment is also positive, and it is projected to expand at a 24.1% CAGR and reach US$25.7 Mn by 2020; the current valuation of the market is around US$ 7 Mn.
The average display size in the wearable segment market is 2” and due to this, only a small amount of flexible glass is used in the manufacturing process. However, this sub-segment will also witness a healthy 25.2% CAGR and reach a valuation of US$ 19 Mn through 2020.
Solar PV, another dominant application segment of the Asia Pacific flexible glass market, is anticipated to expand at a 45.5% CAGR and reach a valuation of US$ 195.5 Mn. There has been an increased focus on the manufacture of solar PV in China and this is expected to provide key growth opportunities for the Asia Pacific flexible glass market.
Asia Pacific Flexible Glass Market: Key Players
The key players in the Asia Pacific flexible glass market include, Corning Inc., Scott AG, Asahi Glass Co., and Nippon Electric Glass Co., Ltd. These key players are expected to consolidate their position during the forecast period and leverage the increased market demand for flexible glass.
Browse Here Market Research Report on Asia Pacific Flexible Glass Market: https://www.futuremarketinsights.com/reports/details/apac-flexible-glass-market
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