Press release
Growing Demand for Energy-Efficient Buildings to Boost Technical Glass Market to US$12.4 Billion by 2028
The Global "Technical Glass Market" is expected to reach USD 12.4 billion by 2028, growing at a CAGR of 6.2% during the forecast period.Click Here to Get Free Sample Copy of this Report https://www.persistencemarketresearch.com/samples/16036
Technical glass is a specialized glass that is designed for use in high-performance applications, such as electronics, optics, and aerospace. The increasing demand for advanced electronics and the growing focus on energy efficiency are the major drivers of the market.
The technical glass market refers to the use of glass in various industrial and scientific applications, where the glass is specially designed and manufactured to meet specific requirements. Technical glass is used in a wide range of industries, including electronics, aerospace, automotive, medical, and laboratory applications.
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Technical Glass Market Growth Factors:
Growing demand for electronics: The increasing use of electronic devices such as smartphones, tablets, and laptops is driving the demand for technical glass, which is used in the production of electronic components such as display screens, touch panels, and semiconductors.
Advancements in glass manufacturing technology: The continuous advancements in glass manufacturing technology are leading to the development of new types of technical glass with improved properties such as strength, durability, and optical clarity.
Increasing demand for energy-efficient buildings: The use of technical glass in the construction industry is growing due to its ability to improve the energy efficiency of buildings by reducing the need for artificial lighting and heating.
Growing demand from the healthcare industry: Technical glass is used in medical equipment such as syringes, surgical instruments, and diagnostic devices, which is driving the growth of the market.
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Challenges
High production costs: The high cost of production of technical glass is a major challenge for small and medium-sized enterprises, which may hinder their adoption of the technology.
Fragility of glass: The fragility of glass is a major challenge, which may limit its use in certain applications where high impact resistance is required.
Environmental concerns: The environmental impact of glass production and disposal is a major concern, which may hinder the growth of the market.
Market Segmentation:
Based on the type, the market is segmented into borosilicate glass, soda-lime glass, and specialty glass. The specialty glass segment is expected to dominate the market, owing to its high performance and superior properties.
Based on the application, the market is segmented into electronics, optics, aerospace, automotive, and others. The electronics segment is expected to dominate the market, owing to the increasing demand for advanced electronics and the growing use of technical glass in electronic displays and sensors.
Regional Analysis:
North America and Europe are expected to dominate the market, owing to the presence of major players and the increasing use of technical glass in the automotive and aerospace industries. Asia Pacific is expected to grow at the highest CAGR during the forecast period, owing to the increasing adoption of technical glass in the electronics industry and the growing demand for energy-efficient buildings in the region.
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Competitive Landscape:
The global technical glass market is highly competitive, with the presence of several major players. Some of the key players in the market include Schott AG, Corning Inc., TAIWAN GLASS IND. CORP., Heraeus Holding, Asahi Glass Co., Ltd., Nippon Sheet Glass Co., Ltd, Saint-Gobain, Flat Glass Group Co., Ltd., Borosil Glass Works Ltd., Allegion plc, Nippon Electric Glass Co., Ltd, Jhonson Matthey, Guardian Industries, Technical Glass & Aluminium Co. L.L.C, Xinyi Energy Holdings Limited, Nissink Business Glass B.V.
Recent News
• In November 2021, Schott, a German manufacturer of specialty glass and ceramics, announced the launch of a new line of glass-ceramic materials for use in 3D printing applications. The new materials offer high strength, high temperature resistance, and excellent optical properties, making them ideal for use in aerospace, automotive, and medical applications.
• In September 2021, Corning, an American manufacturer of glass and ceramic products, announced the launch of a new line of glass substrates for use in OLED displays. The new glass substrates offer improved color gamut and brightness, which are important for high-performance displays in smartphones, tablets, and other electronic devices.
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