|
Forecast Period
|
2025-2029
|
|
Market Size (2023)
|
USD 92.18 Million
|
|
Market Size (2029)
|
USD 124.86 Million
|
|
CAGR (2024-2029)
|
5.03%
|
|
Fastest Growing Segment
|
Smartphones & Tablets
|
|
Largest Market
|
Southern Vietnam
|
Market Overview
Vietnam Scratch-Resistant Glass Market
has valued at USD 92.18 million in 2023 and is anticipated to project robust
growth in the forecast period with a CAGR of 5.03% through 2029. Vietnam has
seen a substantial increase in the adoption of smartphones and tablets across
various consumer segments. This is driven by factors such as increasing
disposable income, improved access to mobile networks, and a growing tech-savvy
population.
Key Market Drivers
Growing Demand for Consumer Electronics and Smartphones
The scratch-resistant glass market in
Vietnam has experienced significant growth in recent years, driven by a surge
in demand for consumer electronics and smartphones. As consumers increasingly
rely on their smartphones, tablets, and other electronic devices, they expect
these products to have durable and high-quality displays. Scratch-resistant
glass is a critical component in ensuring the longevity and usability of these
devices.
Consumer electronics manufacturers in
Vietnam, both domestic and international, have recognized the importance of
incorporating scratch-resistant glass into their products. This glass is used
to protect touchscreens, camera lenses, and other vulnerable areas of
electronic devices. The proliferation of mobile technology and the increasing
disposable income of Vietnamese consumers have contributed to the rising demand
for smartphones and electronic gadgets. As a result, the scratch-resistant
glass market has flourished.
The COVID-19 pandemic accelerated the
adoption of digital technology, with more people relying on smartphones for
work, education, and entertainment. This trend further boosted the demand for
scratch-resistant glass. In addition to smartphones, the market for laptops,
tablets, and wearable devices in Vietnam has expanded, all of which require
durable displays to withstand everyday wear and tear. Scratch-resistant glass
not only enhances the user experience but also reduces the need for costly
repairs or replacements.
As Vietnam continues to
develop as a hub for electronics manufacturing, both for domestic consumption
and export, the demand for scratch-resistant glass is expected to remain
robust. Manufacturers and suppliers of scratch-resistant glass have the
opportunity to collaborate with electronics companies to provide innovative
solutions that meet the specific requirements of this sector.
In summary, the growing demand for
consumer electronics and smartphones in Vietnam, coupled with the increased
reliance on digital technology due to the pandemic, is a key driver for the
scratch-resistant glass market. Manufacturers and suppliers in this market can
capitalize on this trend by providing high-quality, durable glass solutions for
electronic devices, contributing to the continued growth of the industry.
Expansion of the Automotive Industry
Another significant driver for the
Vietnam scratch-resistant glass market is the expansion of the automotive
industry. As the Vietnamese economy continues to grow and the middle class
expands, there has been a substantial increase in demand for automobiles. This
has led to a growing need for high-quality glass products, including
scratch-resistant glass, in the automotive sector.
Scratch-resistant glass is an essential
component of modern vehicles, used for windshields, side windows, and rear
windows. It enhances the safety and longevity of the glass, reduces glare, and
ensures a clear and unobstructed view for the driver. With the rise in
disposable income and urbanization in Vietnam, there is a higher preference for
personal vehicles, leading to increased production and sales in the automotive
industry.
The growth of the automotive sector is
further supported by the Vietnamese government's policies to promote the
development of the domestic automobile manufacturing industry. Several
international automakers have established production facilities in Vietnam,
contributing to increased demand for various automotive components, including
scratch-resistant glass.
In addition to domestic production,
Vietnam has also become a regional hub for automobile parts manufacturing. This
has attracted suppliers and manufacturers of automotive glass, including those
specializing in scratch-resistant glass, to establish a presence in the
country. The development of the automotive industry in Vietnam presents a
significant opportunity for these companies to provide innovative glass
solutions that meet the industry's stringent quality and safety standards.
The increased emphasis on
road safety and vehicle quality by both consumers and regulatory authorities
has further elevated the importance of scratch-resistant glass in the
automotive sector. As a result, the demand for this type of glass is expected
to continue its upward trajectory, making it a key driver for the Vietnam
scratch-resistant glass market.
In summary, the expansion of the
automotive industry in Vietnam, driven by rising income levels, urbanization,
and government support, has significantly increased the demand for
scratch-resistant glass. Companies in the scratch-resistant glass market can
capitalize on this trend by supplying high-quality glass products to the
automotive sector, contributing to the industry's growth.
Robust Construction & Infrastructure Development
The construction and infrastructure
development in Vietnam is a significant driver for the scratch-resistant glass
market. As the country experiences rapid urbanization and economic growth,
there is a surge in construction activities, including residential and
commercial buildings, as well as infrastructure projects. Scratch-resistant
glass finds extensive applications in the construction industry, contributing
to its growth.
One of the primary uses of
scratch-resistant glass in construction is in windows and facades. Modern
architectural designs often incorporate large glass surfaces, which not only
provide aesthetic appeal but also allow natural light into buildings. In such
applications, scratch-resistant glass is preferred to maintain the transparency
and appearance of these structures over time. It also enhances energy
efficiency by reducing the need for frequent cleaning and maintenance.
The construction of
high-rise buildings, hotels, and commercial spaces in urban areas has increased
the demand for glass railings and balustrades. Scratch-resistant glass is a
popular choice for these safety applications as it ensures durability and
clarity. Additionally, the growth in the tourism industry has led to the
construction of more hotels and resorts, further boosting the demand for such
glass products.
In infrastructure development,
scratch-resistant glass is used in various public buildings, transportation
hubs, and transit systems. For example, in airports, train stations, and bus
terminals, large glass panels are used for partitions and walls. Scratch-resistant
glass is essential in these applications, as it can withstand the wear and tear
associated with high foot traffic and maintain its appearance.
The Vietnamese government's focus on
infrastructure development, including roads, bridges, and public buildings,
presents a continuous source of demand for scratch-resistant glass. The
commitment to urban development and improving the quality of infrastructure in
the country has attracted investments in the construction industry, further
supporting the growth of the scratch-resistant glass market.
In conclusion, the robust construction
and infrastructure development in Vietnam, driven by urbanization and
government initiatives, are significant drivers for the scratch-resistant glass
market. Manufacturers and suppliers in this sector have the opportunity to
provide high-quality, durable glass solutions for various construction and
infrastructure applications, contributing to the continued expansion of the
industry.
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Key Market Challenges
Intense Market Competition and Price Pressure
One of the foremost challenges facing
the Vietnam scratch-resistant glass market is the intense competition within
the industry. As the demand for scratch-resistant glass continues to grow in
response to the needs of various sectors, more manufacturers and suppliers have
entered the market. This heightened competition has led to price pressures,
which can affect the profitability and sustainability of businesses in this
sector.
With numerous players vying for market
share, companies are often compelled to reduce their prices to remain
competitive. While price competition benefits consumers, it can strain the
profit margins of manufacturers. In the long term, excessively low prices may
hinder companies' abilities to invest in research and development, maintain
product quality, and meet sustainability standards. It can also lead to a
"race to the bottom," where companies cut corners in production to
reduce costs, potentially compromising the quality and durability of their
scratch-resistant glass products.
To address this challenge, companies in
the Vietnam scratch-resistant glass market must focus on value differentiation.
This may involve investing in research and development to create innovative,
high-performance glass products that justify premium pricing. Additionally,
forming strategic partnerships with end-users and diversifying their product
offerings can help companies weather the price competition challenge and
maintain a competitive edge.
Quality Assurance and Consistency
Ensuring the quality and consistency of
scratch-resistant glass products is another significant challenge in the
Vietnamese market. Consistency in glass properties, such as hardness, scratch
resistance, and optical clarity, is critical for meeting the stringent
requirements of various industries, including electronics, automotive, and
construction. Any variation in these properties can lead to defects or product
failures, which can be costly for both manufacturers and end-users.
Maintaining quality and consistency can
be particularly challenging in a rapidly growing and evolving market. Different
raw materials, manufacturing processes, and quality control standards can
result in variations in the final product. Moreover, sourcing high-quality
materials, such as the right coatings and substrates, can be a challenge in
itself.
To address this challenge, companies
need to invest in robust quality control processes and testing procedures
throughout the manufacturing cycle. They should also establish clear quality
standards and work closely with their suppliers to ensure the consistency of
raw materials. Additionally, investing in staff training and education can help
companies improve their internal processes and reduce defects.
Environmental and Sustainability Concerns
The third challenge confronting the
Vietnam scratch-resistant glass market is the increasing focus on environmental
and sustainability concerns. With the growing awareness of the environmental
impact of various industries, there is mounting pressure on manufacturers to
adopt sustainable practices and produce eco-friendly products. This challenge
is particularly relevant to the glass industry, which can have a significant
carbon footprint.
Glass manufacturing typically requires
substantial energy consumption and the release of greenhouse gases. In
addition, the disposal of waste materials and the use of certain chemicals in
glass production can have adverse environmental effects. Scratch-resistant
coatings and their application methods can also be a source of environmental
concern, as they may contain volatile organic compounds (VOCs) and other
potentially harmful substances.
To address the environmental and
sustainability challenge, companies in the Vietnam scratch-resistant glass
market should invest in cleaner and more energy-efficient manufacturing
processes. They can also adopt eco-friendly materials and coatings, reducing
the use of harmful substances. Companies that emphasize their commitment to
sustainability and incorporate responsible practices into their operations may
gain a competitive advantage in the market, as environmentally conscious
consumers and businesses increasingly seek out eco-friendly products.
The Vietnam
scratch-resistant glass market faces challenges related to intense competition
and price pressure, maintaining quality and consistency, and addressing
environmental and sustainability concerns. Companies that address these challenges
proactively and strategically can navigate these obstacles and continue to
thrive in the dynamic Vietnamese market.
Key Market Trends
Increased Demand for Anti-Microbial Scratch-Resistant Glass
One prominent trend in the Vietnam
scratch-resistant glass market is the growing demand for anti-microbial
coatings on glass surfaces. This trend is a response to the heightened
awareness of hygiene and sanitation in the wake of the COVID-19 pandemic. As
businesses, public spaces, and healthcare facilities in Vietnam seek ways to
minimize the spread of pathogens, anti-microbial scratch-resistant glass has
become a crucial solution.
Anti-microbial coatings are designed to
inhibit the growth of bacteria, viruses, and other microorganisms on glass
surfaces. These coatings are highly effective in settings such as hospitals,
clinics, restaurants, and transportation hubs, where maintaining a clean and
hygienic environment is essential. In healthcare facilities, anti-microbial
scratch-resistant glass can be used for windows, partitions, and touchscreens,
reducing the risk of disease transmission. Similarly, in the foodservice
industry, restaurants and food preparation areas can benefit from glass
surfaces that inhibit the growth of harmful microorganisms.
The demand for anti-microbial
scratch-resistant glass is also extending to public transport systems. Buses,
trains, and subway stations are incorporating this technology to enhance
passenger safety. As people continue to use public transportation, even after
the pandemic subsides, anti-microbial glass can offer peace of mind to
commuters and contribute to improved sanitation in shared spaces.
To capitalize on this trend, companies
in the Vietnam scratch-resistant glass market are developing and promoting
anti-microbial coatings and solutions. This trend aligns with the broader
global movement toward enhanced cleanliness and hygiene, making anti-microbial
scratch-resistant glass an attractive option for businesses and institutions
across various sectors.
Adoption of Advanced Coating Technologies
Another significant trend in the Vietnam
scratch-resistant glass market is the increasing adoption of advanced coating
technologies to improve the performance and durability of scratch-resistant
glass. Innovations in coatings have allowed manufacturers to enhance the
properties of glass, making it more resistant to scratches, stains, and
environmental factors.
One notable development is the use of
nanotechnology in coatings. Nanocoatings are incredibly thin and provide
superior scratch resistance without compromising the clarity or transparency of
the glass. These coatings create a protective layer on the glass surface,
effectively preventing scratches and reducing the need for frequent cleaning
and maintenance. As a result, nanocoated scratch-resistant glass is gaining
popularity in applications such as smartphones, tablets, and touchscreens,
where visual quality and longevity are paramount.
In addition to nanocoatings,
manufacturers are exploring self-healing coatings for scratch-resistant glass.
These coatings have the remarkable ability to repair minor scratches or damages
on their own when exposed to heat or light. This self-healing property can
significantly extend the lifespan of the glass and enhance its performance in
demanding environments, such as the automotive and construction sectors.
Advanced anti-reflective coatings are
another emerging trend in the scratch-resistant glass market. These coatings
reduce glare and enhance visibility, making them suitable for applications like
high-end electronic displays, architectural glass, and automotive windshields.
The demand for such coatings is growing as consumers and industries
increasingly prioritize high-quality, glare-free glass surfaces.
The adoption of these advanced coating
technologies reflects a commitment to providing consumers and businesses in
Vietnam with innovative, high-performance scratch-resistant glass products. To
stay competitive in this evolving market, manufacturers are investing in
research and development to create coatings that offer a range of benefits,
from superior scratch resistance to enhanced optical clarity and self-healing
capabilities.
The Vietnam
scratch-resistant glass market is witnessing the adoption of advanced coating
technologies and an increased demand for anti-microbial solutions. These trends
are driven by a growing awareness of hygiene and the pursuit of enhanced
product performance, making them essential considerations for companies
operating in the scratch-resistant glass sector in Vietnam.
Segmental Insights
Product
Type Insights
The Chemically-Strengthened Glass segment
emerged as the dominating segment in 2023. Chemically-strengthened glass is a
type of glass that undergoes a unique chemical strengthening process, making it
highly resistant to scratches and impacts. This glass is typically used in a
range of applications, from smartphone screens to automotive windshields,
architectural glass, and more. In Vietnam, this segment has been thriving due
to the country's expanding electronics, automotive, and construction
industries.
The Vietnamese electronics industry has
been experiencing substantial growth, driven by the increasing demand for
consumer electronics such as smartphones and tablets. Chemically-strengthened
glass is the material of choice for device manufacturers to protect delicate
screens from scratches and impacts. With the rising middle-class population,
the demand for consumer electronics is projected to remain strong, ensuring a
steady market for chemically-strengthened glass.
The Vietnamese automotive industry is
also making strides, with both domestic production and exports on the rise.
Chemically-strengthened glass is used extensively in vehicle manufacturing,
particularly for windshields and side windows. As consumers become more
safety-conscious and the government enforces stricter regulations on vehicle
safety standards, the demand for scratch-resistant glass is expected to
increase significantly.
In conclusion, the
chemically-strengthened glass segment in the Vietnam Scratch-Resistant Glass
Market is experiencing robust growth, driven by increased demand in
electronics, automotive, and architectural applications. As the Vietnamese
economy continues to expand, the outlook for chemically-strengthened glass
remains positive, and it is poised to play a pivotal role in the country's
industrial and technological development.
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Regional Insights
Southern Vietnam emerged as the dominating
region in the Vietnam Scratch-Resistant Glass Market in 2023. The demand for
scratch-resistant glass in southern Vietnam, particularly in cities like Ho Chi
Minh City and its surrounding areas, has been steadily increasing. This is largely
driven by the growing popularity of smartphones, tablets, and other electronic
devices that incorporate scratch-resistant glass.
Companies like Corning Inc. (makers of
Gorilla Glass) and Asahi Glass Co. have a significant presence in the
Vietnamese scratch-resistant glass market. Local manufacturers have also
entered the market to cater to the rising demand.
The consumer electronics industry plays
a crucial role in driving the demand for scratch-resistant glass. Southern
Vietnam has become a hub for electronics manufacturing, and the need for
high-quality glass to protect displays is substantial.
The automotive sector in southern
Vietnam is also a significant consumer of scratch-resistant glass. As the
region's automotive industry continues to grow, the need for durable and
scratch-resistant glass components in vehicles has increased.
Recent Developments
In September 2023, Nippon Electric Glass
announced its partnership with a Vietnamese company to establish a new
manufacturing plant for scratch-resistant glass in Vietnam. This new plant is
expected to start operations in 2025.
Key Market Players
- Schott AG
- Saint-Gobain Glass
- Corning Incorporated
- Koch Industries, Inc.
- PPG INDUSTRIES, INC.
- Nippon Electric Glass Co., Ltd
- Covestro AG
- Bühler Technologies GmbH
- Kuraray Europe GmbH
- DOWA Thermotech Co., Ltd.
|
By Product Type
|
By Application
|
By Region
|
|
Chemically-Strengthened Glass
Sapphire Glass
|
Smartphones & Tablets
Automotive
Interior Architecture
Others
|
Northern Vietnam
Central Vietnam
Southern Vietnam
|
Report Scope:
In this report, the Vietnam
Scratch-Resistant Glass Market has been segmented into the following
categories, in addition to the industry trends which have also been detailed
below:
·
Vietnam Scratch-Resistant
Glass Market, By
Product Type:
o Chemically-Strengthened Glass
o Sapphire Glass
·
Vietnam Scratch-Resistant
Glass Market, By
Application:
o Smartphones & Tablets
o Automotive
o Interior Architecture
o Others
- Vietnam
Scratch-Resistant Glass Market, By Region:
o Northern Vietnam
o Central Vietnam
o Southern Vietnam
Competitive Landscape
Company Profiles: Detailed analysis of the major companies
present in the Vietnam Scratch-Resistant Glass Market.
Available Customizations:
Vietnam Scratch-Resistant Glass Market report
with the given market data, TechSci Research offers customizations according
to a company's specific needs. The following customization options are
available for the report:
Company Information
- Detailed analysis and
profiling of additional market players (up to five).
Vietnam Scratch-Resistant
Glass Market is an upcoming report to be released soon. If you wish an early
delivery of this report or want to confirm the date of release, please contact
us at [email protected]