Glass Substrate Market worth $8.4 billion by 2028 Globally, at a CAGR of 3.5 %, says MarketsandMarkets™



Chicago, March 07, 2024 (GLOBE NEWSWIRE) — The Global Glass Substrate Market is projected to grow from USD 7.1 billion in 2023 to USD 8.4 billion by 2028, at a CAGR of 3.5% from 2023 to 2028, as per the recent study by MarketsandMarkets™. The growth of the glass substrate market is primarily driven by the rapid advancements in electronic devices and display technologies. Apart from this, the demand from several end-use industries such as automotive, medical, aerospace & defense, and solar power, also drives the market of glass substrate. Moreover, as environmental concerns gain prominence, the development of eco-friendly glass substrates using sustainable manufacturing practices becomes another influential factor shaping the market landscape. High technology development cost and manufacturing cost of the glass substrate is becoming the main restraining factor in this market. However, the increasing growth of solar industries and rising innovations in display technologies provide lucrative opportunities for glass substrate producers. Strict quality requirements are the major challenge of this market.

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Browse In-Depth TOC On “Glass Substrate Market”

183 – Market Data Tables
48 – Figures
190 – Pages

List of Key Players in Glass Substrate Market:

AGC Inc. (Japan)
Schott (Germany)
Corning, Incorporated (US)
Nippon Sheet Glass Co., Ltd. (Japan)
Plan Optik AG (Germany)
HOYA Corporation (Japan)
Ohara Inc. (Japan)
IRICO Group New Energy Company Limited (China)
Toppan Inc. (Japan)
Tunghsu Group Co. Ltd. (China)

Drivers, Restraints, Opportunities and Challenges in Glass Substrate Market:

Drivers: Rising usage of LCDs in consumer electronics and automotive application.
Restraints: High manufacturing and technology costs.
Opportunity: Growing use of glass substrate in solar power application.
Challenges: LCD glass to meet strict quality requirements.

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Key Findings of the Study:

Dominance of electronic industry in the Glass substrate end-use industry …

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