PUBLISHER: 360iResearch | PRODUCT CODE: 1492502
PUBLISHER: 360iResearch | PRODUCT CODE: 1492502
[185 Pages Report] The Cover Glass Market size was estimated at USD 7.37 billion in 2023 and expected to reach USD 7.91 billion in 2024, at a CAGR 7.48% to reach USD 12.21 billion by 2030.
Cover glass is the protective glass layer used to shield the screens of various electronic devices, such as smartphones, tablets, and smart wearables, from damage and wear. This specialized glass is designed to be tough yet transparent, ensuring maximal visibility and sensitivity for touchscreens while offering resistance to scratches and breaks. The widespread adoption of cover glass has been driven by the increasing consumer demand for durable and reliable electronic devices, advancements in glass technology that allow for thinner and stronger screens, and the growing use of touch-enabled devices in various sectors, including automotive displays and home appliances. However, there is a potential for breakage upon impact, which, despite improvements in glass durability, still poses a risk and results in replacement or repair costs. Furthermore, the production of highly specialized cover glass can be cost-intensive, impacting the overall price of electronic devices. Nevertheless, the development of more resilient and flexible materials to expand applications beyond traditional flat screens to new foldable and curved devices is providing opportunities for market expansion. Furthermore, the integration of additional features, including built-in sensors and antimicrobial properties, can open new avenues for differentiation in a competitive market.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 7.37 billion |
Estimated Year [2024] | USD 7.91 billion |
Forecast Year [2030] | USD 12.21 billion |
CAGR (%) | 7.48% |
Regional Insights
The Cover Glass Market shows mature growth in the Americas region, particularly in North America, driven by high consumer spending on electronics and a preference for advanced, durable products. The EMEA region shows a diversified landscape, with Europe leaning towards high-quality, innovative glass solutions, reflecting its robust manufacturing base and stringent regulations regarding product durability and recycling. Asia Pacific depicts a rapidly expanding landscape underpinned by massive production capacities and the presence of major electronics manufacturers, especially in China, Japan, and South Korea. This region benefits from both the large-scale manufacturing of electronic devices and a vast consumer base increasingly adept at using digital technology, thus propelling the demand for cover glass.
Market Insights
The market dynamics represent an ever-changing landscape of the Cover Glass Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cover Glass Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cover Glass Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments
Strategic Expansion through Optical Cover Glass Investment by SJS Enterprises
SJS Enterprises Ltd. invested INR 30 crore to develop manufacturing capabilities for optical cover glasses. This new technology, aimed to enhance the aesthetic and functional aspects of TFT screens in SUVs, recently achieved a significant landmark with the receipt of a quality system certificate. Coupled with further investments, the company is poised to enhance its market footprint significantly, leveraging opportunities in its diverse sectors of operation on both domestic and international fronts. [Published On: 2024-03-27]
Bharat Innovative Glass Technologies and Corning International Forge a Path in Cover Glass Manufacturing
Bharat Innovative Glass Technologies Private Limited (BIG TECH), through a strategic joint venture with Corning International, has unveiled plans to establish a new manufacturing facility in SIPCOT Pillaipakkam, Kancheepuram, supported by an investment of INR 1,003 crore and aims to bolster the local economy. The signing of a Memorandum of Understanding (MoU) marks a significant step towards enhancing India's capabilities in precision glass-processing technology, previously unavailable domestically. This collaboration aims to produce front-cover glass, primarily for display panels and mobile devices and signifies a leap in technological advancement and employment opportunities in the region. [Published On: 2023-10-27]
Optiemus Infracom Partners with Corning for India's First Smartphone Cover Glass Facility
Optiemus Infracom formed a strategic joint venture with Corning International Corporation to establish India's inaugural high-quality finished smartphone cover glass manufacturing facility. This partnership aims to augment local production capabilities by leveraging advanced technologies and processes essential for the creation of premium cover glass, primarily for mobile consumer electronics. The collaboration is poised to enhance the "Made in India" initiative, addressing the need for increased local value addition in the manufacturing sector. [Published On: 2023-09-01]
Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cover Glass Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Cover Glass Market, highlighting leading vendors and their innovative profiles. These include AAC Technologies, Abrisa Technologies, AGC Inc., AvanStrate Inc., Biel Crystal Manufactory Ltd., BYD Company Limited, CHENFENG OPTRONICS Co., Ltd., Corning Incorporated, CSG Holding Co., Ltd., G-TECH Optoelectronics Corporation, Gtoc Corporation, JNTC, Nippon Electric Glass Co., Ltd., O-film Tech Co., Ltd., SCHOTT AG, Sharp Corporation, Tongda Group, TPK Holding Co., Ltd., Tunghsu Optoelectronic, UTI Inc., and Xinyi Glass Holdings Limited.
Market Segmentation & Coverage