Photosensitive Glass Market Value To Cross $10,885.3 By 2025 | Top Companies and Industry Growth Insights

The photosensitive glass market is heading toward growth expansion phase over the coming years. Advancement in the photolithography process to produce micro-circuits coupled with consumer preference for decorative material are the factors projected to boost the growth of the market. Consequently, the global market is anticipated to witness introduction of several manufacturers to explore the expanded growth.

According to a new report published by Allied Market Research, titled,"Photosensitive Glass Market, by Application: Global Opportunity Analysis and Industry Forecast, 2018- 2025,"The global photosensitive glass market was valued at $6,355.8 in 2017 and is projected to reach $10,885.3 by 2025, growing at a CAGR of 6.8% from 2018 to 2025. The decorative application segment dominated the market in 2017, with around more than one-third share, in terms of revenue.

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Photosensitive glass belongs to lithium-silicate family. It is unique type of glass wherein an image of mask can be captured with help of microscopic metallic particles in the glass when it is exposed to ultraviolet light in a range of 280nm320 nm. A latent image is formed at this wavelength. Photosensitive glass is a promising material used to produce components for several complex microsystems. The global photosensitive glass market possesses high growth potential, because this glass finds its application in both corrosive and high-temperature environments.

In terms of revenue, the global photosensitive glass market represents moderate numbers due to gradual development of applications in each industry. Globally, the market is at a nascent stage and is further expected to explore significant growth opportunities during the projected period. Some of the prominent factors driving the growth of the market include increase in product use in photolithography to produce various electronic and optoelectronic devices.

Moreover, superior physical and chemical properties of photosensitive glass fuel its use for aesthetic purposes, which is expected to propel the market growth during the forecast period. However, limited presence of product manufacturers across the globe restrains the growth of the market. Furthermore, high price of photosensitive glass is expected to restrain the market growth.

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Key Benefits for Photosensitive Glass Market:
• Porter's five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current trends and future scenario of the market from 2018 to 2025 to understand the prevailing opportunities and potential investment pockets.
• Major countries in each region have been mapped according to their individual revenue contribution to the global/regional market.
• The key drivers, restraints, and opportunities and their detailed impact analyses are elucidated in the study.
• The profiles of key players along with their key strategic developments are enlisted in the report.

Construction industry is also emerging as a promising consumer of this glass due to its unique appearance. Photosensitive glass is used in ornamental tiles, wall & partition beautification, and in large windowpanes in architectural applications. This in turn drives the growth of the market. Furthermore, developing use of photosensitive glass to produce micro circuits through photosensitive glass in electronic industry also boosts the market growth. Driven by these factors, growth of this market is restrained by high price of photosensitive glass linked with limited presence of photosensitive glass manufacturers. The global photosensitive glass market is expected to witness lucrative growth opportunities due to large-scale usage of the glass in various end use industries, such as automotive and electronics.

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Key Market Players:
IPG PHOTONICS CORPORATION, HOYA CORPORATION, CORNING INCORPORATED, SCHOTT AG, GAFFER GLASS

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