Impact Assessment of COVID-19 Outbreak on Flexible Glass Market

 

Flexible Glass Market: Introduction

• The global flexible glass market has been expanding steadily since the last few years. It is anticipated to maintain the momentum in the near term as well.
• Flexible glass is an ultra-thin glass, which has the same properties of a rigid glass material. The additional properties associated with flexible glass are durability, strength, and temperature stability. Furthermore, flexible glass can exhibit the properties of plastic such as rigidity and scratch resistance. Flexible glass is widely used to increase strength, flexibility, and the shelf-life of finished products.

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Key Drivers and Restraints of Flexible Glass Market

• Flexible glass helps reduce the weight of electronic gadgets. Increase in demand for high quality, handy, and attractive electronic gadgets, rise in demand for high-end gadgets such as tablets and touch-enabled notebooks, and growth in demand for consumer electronics paired with advanced display technology are driving the global flexible glass market. Flexible glass enhances the display quality of smartphones, laptops, TVs, and tablets. Thus, it is immensely used in manufacturing displays. This glass has paved the way for development of light, thin, robust, and bendable devices.
• Flexible glass provides superior surface quality with no roughness. Rise in demand for slim and scratch-resistant displays in electronics products and growth in disposable income of consumers are expected to boost the global flexible glass market.
• Flexible glass also helps in the formation of thin film solar cells due to its enormous flexibility and heat resistance property. Expansion of the photovoltaic (PV) industry, rise in demand for curved flexible solar cells, and increase in need for portable photovoltaic and building integrated PV are projected to fuel the global flexible glass market.

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Flexible Glass Market: Segments

• The flexible glass market can be segmented based on application and end-user industry
• In terms of application, the market can be divided into solar panel, photovoltaic cell, display, and others
• Based on end-user industry, the market can be classified into automotive, medical, electrical & electronics, wearable devices, and others

COVID-19 Impact on Flexible Glass Market

• Emergence of the new COVID strain in many developed and developing countries has adversely affected the health care infrastructure. Hospital staff, medicines, oxygen beds, and ventilators are in short supply. Supply chains are facing disruptions, leading to disturbances in production activities in many countries.
• On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 213 countries and territories around the world.
• Shortage of labor due to the ongoing COVID-19 crisis and unavailability of raw materials are further expected to hamper the flexible glass market in the near future

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North America to Dominate Flexible Glass Market

• In terms of region, the global flexible glass market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America is expected to lead the global flexible glass market in the near future, as the region is witnessing rapid industrialization
• Other prominent regions are Europe and Asia Pacific. Rise in domestic demand for tablets and cellphones is expected to boost the flexible glass market in these regions.

Key Manufacturers Operating in Global Flexible Glass Market

• The global flexible glass market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the global flexible glass market include:
  • Nippon Electric Glass Co. Ltd
  • Corning Inc.
  • Tokyo Electron
  • Universal Display Corporation
  • Sony Corporation
  • Saint-Gobain

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