Sales of smart phones, tablets, laptops and other personal electronic devices are at an all-time high in all corners of the world, which naturally leads to enormous demand for cover glass products (the top layer of almost all mobile device screens, specially manufactured to prevent breakage.
Revenues in this market are undeniably healthy across the globe, however somewhat surprisingly, it is the APAC that takes the lead. This might come unexpected to some, considering the Americas and Europe dominate in mobile device sales, but here’s a little insight on why this region is seeing so much market success.
During 2012 and 2013, The Global Cover Glass Market became fairly saturated due in large part to a growth rate spike of around 175 percent in the years prior.
While the US and major European countries have begun to see a plateau in sales, the APAC market still witnessed growth thanks to major market players like Corning, Nippon Electric Glass, and Asahi Glass being located within the region. Asahi Glass Co. The consumption value contribution of the APAC region was almost 75 percent of the world’s cover glass market in 2012.
Aside from this huge market presence in the region, other factors driving cover glass sales in the market include:
- Comparatively lower labour and resource costs which enable smaller companies to join the market and attracts international consumers
- Increased adoption of smartphones in emerging countries
- Increased demand for from the automotive industry for vehicle interiors
Overall, the demand for portable electronic devices is expected to fuel market growth during the forecast period, and at the end of the day, the APAC region still proves to be enough of a “big brother” to The Global Cover Glass Market to prevent it from shattering any time soon.
For More Information, view our 2012-2016 report on the Global Cover Glass Market.
