According to a new market research report published by Credence Research “Scratch Resistant Glass Market By Application (Smartphones, Tablets, LCD/LED, Automotive, and Others) and By Geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global Scratch Resistant Glass market is set to grow with a CAGR of 7.9% throughout the forecast period to reach US$ 7,989.0 Mn by 2026.
[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]
The overall market for scratch-resistant glass is expected to show robust growth over the forecast period. Superior surface quality, high strength and scratch-resistant features have increased its applications in advanced electronic devices. Glass is one of the most researched materials, and many manufacturers are moving towards the innovation of glass in various electronics and technologies. High-tech applications of scratch-resistant glass are constantly increasing due to its unique properties and usability. For example, the mirrors will be able to assess the health status of the person standing in front of the mirror. High penetration of smartphone users in developing regions, increasing demand for smartphones and tablets, increasing demand for premium consumer electronics due to rising disposable incomes and evolving lifestyles are key factors driving a scratch-resistant glass market.
However, rising demand from the automotive and architectural & construction industries is expected to fuel demand for scratch-resistant glass market growth worldwide. Industry players such as Corning are actively focused on the research and development of next generation glass that can give rise to revolutionary consumer electronic technologies. For example, Corning has introduced gorilla glass 5 that raises the protection bar higher than ever before. Corning also has gorilla 3 and 4 on the market, which demonstrates the emphasis and power of product innovation.
The demand for scratch-resistant glass is segmented on the basis of application and geography. On the basis of the application, the market was led by LCD / LED, accounting for around 32 percent in terms of value in 2017. This is mainly due to the increasing use of LEDs / LCDs in consumer electronic devices such as TVs, personal computers, lights, etc. Based on geography, Asia-Pacific led the global market for scratch-resistant glass, accounting for more than 34 per cent of the total market value generated worldwide in 2017.
Asia Pacific is also listed as the fastest-growing region, mainly due to lower manufacturing costs coupled with less stringent regional government regulations, leading major OEM manufacturers to develop manufacturing bases in the region, thus driving regional industry growth. The use of scratch-resistant glass results in a high price of end-use goods and a rise in the use of lamination and coatings in electronic devices as a replacement are some of the factors restricting the growth of the industry.
The key players operating in the market include Corning Incorporated (U.S.), Asahi Glass (Japan), Nippon Electric Glass (Japan), Guardian Industries (U.S.), Saint-Gobain (France), Kyocera Group (Japan), and Schott Glass (Germany) among others. New product development and expansion are the major strategies implemented by key manufactures in the global scratch resistant glass market. For example, in 2016, Corning Incorporated, launched new flagship cover glass Gorilla Glass 5 with the aim of providing protection to devices from everyday drops.