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Glass Ceramics Market Growth, Size, Future Scope & Industry Forecast 2030
Glass Ceramics Market
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Allied Market Research published a report, titled, "Glass Ceramics Market by Composition (Lithium-Aluminium-Silicate (LAS), Zinc-Aluminium-Silicon Oxides (ZAS), Magnesium-Aluminium-Silicon Oxides (MAS), and Others) and Application (Building & Construction, Electrical & Electronics, Healthcare, Aerospace, Optical, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030."
Leading Market Players
CoorsTek Inc.
Corning Inc.
Kanger Glass-ceramic Co., Ltd.
Kedi Glass-Ceramic Industrial Co. Ltd.
Kyocera Corporation
Morgan Advanced Materials plc
Nippon Electric Glass Co.,Ltd.
Ohara Corporation
Saint Gobain
Schott AG
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The lithium-aluminium-silicate (LAS) segment to maintain its lead position during the forecast period
Based on composition, the lithium-aluminium-silicate (LAS) segment accounted for the highest share in 2020, holding more than half of the global glass ceramics market, and is expected to maintain its lead position during the forecast period. This is due to the LAS material being mechanically strong and ability to sustain repeated and quick temperature changes up to 800-1000 °C. However, the magnesium-aluminium-silicon oxides (MAS) segment is estimated to manifest the fastest CAGR of 6.6% from 2021 to 2030, owing to increase in R&D activities in the sector.
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The building & construction segment to continue its leadership status during the forecast period
Based on application, the building & construction segment contributed to the largest share in 2020, accounting for around two-fifths of the global glass ceramics market, and is projected to continue its leadership status during the forecast period. This is attributed to rise in living standards, population, and urbanization in major developing countries across the world. However, the optical segment is expected to witness the largest CAGR of 7.3% from 2021 to 2030. This is due to high usage of optical ceramics owing to their better mechanical and optical properties.
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Asia-Pacific, followed by North America, to offer lucrative opportunities
Based on region, Asia-Pacific, followed by North America, held the largest market share in 2020, contributing to more than one-third of the global glass ceramics market, and is expected to maintain its dominance in terms of revenue by 2030. Moreover, this region is expected to register the fastest CAGR of 7.3% from 2021 to 2030. This is due to growth of the optics and optoelectronics industry in emerging countries in the region.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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