Glass Substrate Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The market is segmented by Type (Borosilicate, Silicon, Ceramic, Quartz, and Others), End-user Industry (Automotive, Aerospace & Defense, Healthcare, Solar Power, Electronics, and Others), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

Glass Substrate Market Size

Glass Substrate Market - Summary
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration High

Major Players


*Disclaimer: Major Players sorted in no particular order


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Glass Substrate Market Analysis

The global market for glass substrate is expected to grow at a CAGR of over 4% during the forecast period. The major factor driving the market studied is the increasing usage of LCDs in consumer electronics. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak and high manufacturing costs are hindering the growth of the market.

The electronics industry is expected to dominate the global glass substrate market over the forecast period.

Asia-Pacific region is expected to account for the largest share and is also forecasted to be the fastest-growing market over the forecast period.

Glass Substrate Industry Segmentation

The Glass Substrate market report includes:

End-user Industry
Aerospace and Defense
Solar Power
South Korea
Rest of Asia-Pacific
North America
United States
United Kingdom
Rest of Europe
South America
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Glass Substrate Market Trends

This section covers the major market trends shaping the Glass Substrate Market according to our research experts:

Electronics Industry to Dominate the Demand

  • The usage of the glass substrate in the electronics industry is broad and highly diversified. They are used in the manufacturing of semiconductors for various applications.
  • The applications of the glass substrate in the semiconductors include complementary metal-oxide-semiconductor (CMOS), micro-electro-mechanical systems (MEMS), Image, Sensors, LEDs, Logic IC, ICs, power, μbatteries, Optoelectronics, among others.
  • The electronics industry is on an unprecedented growth path, with high demand from the emerging economies. Electronic components and systems, electric drives, industrial control equipment, etc are some of the sub-sectors that are expected to experience healthy growth over the coming years.
  • The electronics manufacturing market in Asia-Pacific is expected to grow rapidly during the upcoming years, due to the increasing presence of large numbers of OEMs in the region. Low cost and high availability of raw materials, coupled with cheap labor, are mainly driving the growth of the sector in the region.
  • The companies in the Asia-Pacific region provide manufacturing and assembling services to companies in Germany, France, and the United States. Moreover, these companies are rapidly digitizing their businesses, to achieve end-to-end integration of their operations. This is further encouraging OEMs from Europe and North America to outsource their production to Asia-Pacific.
  • Therefore, the growing electronics industry is expected to boost the demand for glass substrate market in coming years.
Glass Substrate Market Revenue Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the increasing consumption from countries such as China, India, and Japan.
  • China has the world’s largest electronics production base. The country serves not only domestic demand for electronics but also exports electronic output to other countries. With the increasing disposable incomes of the middle-class population and the growing demand for electronic products in the countries importing electronic products from China, the production of electronics is estimated to grow further during the forecast period.
  • Additionally, the country has one of the largest healthcare sectors across the globe. Under the 13th Five-Year Plan, the government of China prioritizes health and innovation, which is expected to increase investments in the medical device manufacturing sector during the forecast period. This in turn, is expected to augment the production of high-tech medical devices to treat chronic and age-related diseases in the country which further is expected to increase the demand for the market studied.
  • According to India Brand Equity Foundation (IBEF), The healthcare industry in the country is expected to reach by USD 372 billion by 2022. Furthermore, the medical devices sector is expected to exceed USD 11 billion by 2022. This is expected to increase the demand for medical devices at an exponential rate in the upcoming years which further is expected to drive the demand for the market studied.
  • Such trends, coupled with rapidly growing number of end-users, are expected to boost the demand for glass substrate in Asia-Pacific region, during the forecast period.
Glass Substrate Market Regional Trends

Glass Substrate Industry Overview

The global glass substrate market is partially consolidated with healthy competition in the market. The major companies are AGC Inc., Nippon Electric Glass Co., Ltd., SCHOTT AG, Corning Incorporated, and LG Chem among others.

Glass Substrate Market Leaders

  1. AGC Inc.

  2. Nippon Electric Glass Co., Ltd.


  4. Corning Incorporated

  5. LG Chem

*Disclaimer: Major Players sorted in no particular order

Market Concentration - Glass Substrate Market.png

Glass Substrate Market Report - Table of Contents


    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growing Usage of LCDs in Consumer Electronics

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Unfavorable Conditions Arising Due to COVID-19 Outbreak

      2. 4.2.2 High Manufacturing Costs

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition


    1. 5.1 Type

      1. 5.1.1 Borosilicate

      2. 5.1.2 Silicon

      3. 5.1.3 Ceramic

      4. 5.1.4 Quartz

      5. 5.1.5 Others

    2. 5.2 End-user Industry

      1. 5.2.1 Automotive

      2. 5.2.2 Aerospace and Defense

      3. 5.2.3 Healthcare

      4. 5.2.4 Solar Power

      5. 5.2.5 Electronics

      6. 5.2.6 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. Italy

        4. France

        5. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle-East and Africa


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share(%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 AGC Inc.

      2. 6.4.2 AvanStrate Inc.

      3. 6.4.3 Corning Incorporated

      4. 6.4.4 HOYA GROUP

      5. 6.4.5 IRICO Group New Electronics Company Limited

      6. 6.4.6 LG Chem

      7. 6.4.7 Nippon Electric Glass Co.,Ltd.

      8. 6.4.8 Nitta Haas Incorporated

      9. 6.4.9 SCHOTT AG

      10. 6.4.10 The Tunghsu Group

    5. *List Not Exhaustive

**Subject to Availability
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Glass Substrate Market Research FAQs

The Glass Substrate Market is projected to register a CAGR of greater than 4% during the forecast period (2023-2028).

AGC Inc., Nippon Electric Glass Co., Ltd., SCHOTT AG, Corning Incorporated and LG Chem are the major companies operating in the Glass Substrate Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Glass Substrate Market.

Glass Substrate Industry Report

Statistics for the 2023 Glass Substrate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Glass Substrate analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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