Press release
Glass Additive Market Is Booming Worldwide | DuPont, SCHOTT, Gillinder Glass, Nanobase and BASF SE.
Glass Additives Market
Glass are brittle in nature demanding manipulation of certain properties to suit various industrial application. Additives act as facilitators to refine inherent properties and enhance quality of the final product. Production technology innovations such as using inorganic compound called lanthanum oxide as add-on to boost strength and refractive index should further incite demand in glass additives market. These additives are also used for customizing lamps, tableware and eye wear.
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Glass additives market size from pharmaceutical application should witness significant gains by 2024 owing to demand surge for enhanced additive compounds offering strength and sustainability against reactive substances. U.S. pharmaceutical industry spending surpassed USD 50 million in 2016 which should increase demand for safer packaging options. These packaging options offer uniform surface chemistry, prevents crack, reduce particulate formation and enables smoother line operations.
Metal oxide glass additives market size should offer high industry growth during forecast timeframe due to its color improving property. It also enhances thermal and electrical conductivity which should find wide application scope in construction sector. China construction industry size should exceed USD 1.5 trillion by 2024 procreating product demand. Commonly used metal oxides are cobalt oxide, ferric oxide and manganese oxide.
Nanoparticle glass additives market size should witness strong gains during forecast timeframe owing to its application scope as coatings for window panels, laptops, mobile phones and televisions. Rising demand for scratchproof panels should spur higher product demand. These products are also used in reducing air bubbles and offers low resistance during sea bottom drilling which should further catalyze demand.
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Glass additives market size from packaging application should grow significantly owing to rising popularity among consumers for specialized product offering scratch resistance, anti-glare, UV protection and durability. Growing population along with busy work schedule imparts higher demand for packaged food & beverage implying growth in product demand.
China glass additives market size might show strong growth due to rapid industrialization in the region. Rising disposable income along with shift in consumer preference towards enhanced product strength and characteristics will drive regional product demand.
U.S. glass additives market size should grow at high rates during forecast timeframe due to rising consumption levels in healthcare, pharmaceutical and automobile sectors. Developing production technologies along with growing demand for electronic & electrical devices should propel regional product demand.
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Global glass additives market share is moderately fragmented including industry participants like DuPont, SCHOTT, Gillinder Glass, Nanobase and BASF SE. Companies are concentrating on customized product development for sustainability in market. They also are adopting strategies like mergers, partnerships and acquisition to expand their forward and backward integration in the value chain.
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