Flexible Glass Market to See Massive Growth through 2023
The Asia-Pacific region led the flexible glass market in 2018, followed by North America, Europe, South America, and the Middle East and Africa (MEA), respectively.
The global flexible glass market is expected to post a CAGR of almost 47% from 2019-2023, according to a recent market research report by Technavio. Flat panel displays used in televisions, monitors, and other display devices comprise thin panels instead of the traditional cathode ray tube (CRT). Flat panel display screens are lightweight, portable, and offer high resolution.
Increasing global demand for flat panel displays is driving the consumption of flexible glass, as it provides dimensional stability, structural component cost reduction, high resolution and brightness, low color shift, and an exceptional couple efficiency. Moreover, the automotive sector widely uses flat panel displays for large central information displays (CIDs). Flexible glass is also used in the advanced driver assistance systems (ADAS) of smart cars.
Technavio projects that the growing popularity of wearable technology will have also a positive impact on the market and significantly contribute to growth over the forecast period. The demand for wearable electronics is primarily driven by their ability to connect with the internet and exchange data between networks and devices. Wearable devices are popularly used for gaming, entertainment, sports, and health and fitness. Flexible glass is extremely durable and is used in displays, sensors, and other electronic systems in wearable technologies.
The Asia-Pacific region led the market in 2018, followed by North America, Europe, South America, and the Middle East and Africa (MEA), respectively. During the forecast period, Asia-Pacific is expected to continue dominating as well as register the highest incremental growth due to the rising number of photovoltaic installations at airports, buildings, and open areas.
Additional details are available at www.technavio.com.