Glass substrates are thin sheets of glass that serve as the foundation for the manufacture of electronic components such as integrated circuits (ICs). They are constructed of high-grade, high-purity, optically clear glass that can withstand the high temperatures of the IC fabrication process. Glass is usually doped with specific elements to improve its properties, such as electrical conductivity or strength. The glass substrate market is projected to reach USD 1.97 billion by 2022, at a CAGR of 5.7% between 2017 and 2022.
Borosilicate-based glass substrates are estimated to be the largest type segment of the glass substrate market due to their superior properties such as excellent thermal shock resistance, low thermal expansion, good chemical resistance, and high optical quality. Borosilicate glass substrates are widely used in the production of displays, semiconductors, and optical components, as well as in medical and analytical instruments. They are also used in the automotive and aerospace industries, as well as in the production of solar cells and batteries.
The electronics industry is the largest consumer of glass substrates, and its growth is driving the overall glass substrate market. Increasing demand for consumer electronics, such as smartphones and tablets, is driving the need for glass substrates in the production of these products. The increasing demand for electronic devices is creating a need for new glass substrates with enhanced functionalities. In addition, the growing trend of miniaturization in electronic devices is resulting in the need for thinner and lighter glass substrates. These factors are expected to drive the growth of the glass substrate market in the electronics industry.
Expansions, new product developments, and agreements were key growth strategies adopted by major players between 2014 and 2017 to strengthen their foothold in the glass substrate market. Leading companies in the glass substrate market are AGC (Japan), SCHOTT (Germany), Corning Inc. (US), Nippon Sheet Glass (Japan), Plan Optik (Germany), HOYA Corporation (Japan), LG Chem (South Korea), OHARA Inc. (Japan), IRICO Group New Energy Company Limited (China), and The Tunghsu Group (China).
AGC, one of the key players in the glass substrate market, has adopted the expansions strategy to increase its market share and cater to the rising demand for glass substrate products. In August 2017, AGC started the construction of the 11th generation TFT glass substrate manufacturing kilns in China. This development strategy enabled the company to increase its production capacity and address the rising demand for glass substrates in China. Moreover, in February 2017, AGC established a new research facility at its Keihin factory in Japan. This new facility based on urban value creation enabled the company to increase its R&D capacity.
SCHOTT, another key player in the glass substrate market, adopted the expansions strategy to enhance its production capacities. In February 2017, SCHOTT established a state-of-the-art melting tank at its production site located at Mainz, Germany to produce ZERODUR glass ceramic substrates. This development strategy enabled the company to widen its customer base in the glass substrate market.
