Robust demand for flexible glasses in the smartphone sector is anticipated to fuel the Asia Pacific flexible glass market during the forecast period 2014-2020, according to a research report by Future Market Insights (FMI).
The report titled, “Flexible Glass Market: Asia Pacific Industry Analysis and Opportunity Assessment 2014-2020” provides key insights on the prospects of flexible glass market in Asia Pacific.
According to Future Market Insights, flexible glass will witness increased demand, owing to its numerous properties, such as durability, resistance to heat and moisture, rigidity, and scratch resistance. FMI opines that smartphones will account for the bulk of the demand for flexible glasses during the forecast period.
Flexible glasses are witnessing increasing demand in the television market, especially in the curved TV segment. According to FMI, the curved TV segment of Asia Pacific flexible glass market will expand at a CAGR of 37.1% during the forecast period 2014-2020. Overall, the display segment—which comprises smartphones, curved TV, building mounted displays and wearables—is projected to account for nearly two-thirds share of Asia Pacific market share by 2020.
Japan is the most lucrative market for flexible glasses in Asia Pacific. Accounting for a market share of 39.6% in 2014, the Japan flexible glass market is anticipated to witness sustained growth during the forecast period 2014-2020. FMI estimates the Japan flexible glass market to be worth US$ 227.9 Mn by 2020. Rest of Asia Pacific region is anticipated to expand at a CAGR of nearly 39% during the forecast period.
According to FMI, demand for flexible glasses from solar photovoltaic (PV) industry will also contribute to the growth of the market during the forecast period. The advancement in the roll-to-roll processing is expected to create growth opportunities for flexible glass market.
Key players in the Asia Pacific flexible glass market include Corning Inc., Schott AG, Asahi Glass Co., Ltd., and Nippon Electric Glass Company Ltd.