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Glass Additives Market 2019 | Analysis Includes Growth, Trends, Technologies & Opportunities Forecast 2023
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Synopsis of Glass Additives Market:
Glass Additives are classified as those ingredients that can be added to the glass to change the properties of the finished product. Lead, Boron, lanthanum oxide, iron, calcium oxide, silica are few of the types of Glass Additives. Metal additives are used to enhance the conductivity of glass vessel thereby find a wide application scope in healthcare, pharmaceutical, and chemicals industries. They possess excellent properties such as high conductivity, superior strength, and high refractive index which make them suitable for utilization in various applications such as packaging, automotive & transportation, electronics & appliances, and building & construction.
As per our Analysis, some of the prominent market factors and trends identified in the Global Glass Additives Market include increasing consumption of glass as a packaging material, technological advancement, and rapid urbanization. The Global Glass Additives Market is predicted to grow at a moderate CAGR over the estimated period. Rising demand from the growing building & construction industry is estimated to fuel the demand for Glass Additives Market. Moreover, growing investment in the packaging industry as well as continuous expansion of building & construction industry in the emerging economies is predicted to drive the growth of the market. Furthermore, increasing disposable income along with the rising automotive production and sales across the globe is estimated to fuel the demand for Glass Additives over the forecast period. Furthermore, technological advancement such as using lanthanum oxide as an additive to improve the durability and refractive index of glass materials have impelled the growth of the market. However, factors such as higher adoption rate of plastics as cheaper alternative to glass and relatively low costs of plastic additives are expected to hinder the growth of the market over the assessment period, 2016 to 2023.
Some of the prominent players operating in the Global Glass Additives Market are Namibia Rare Earths Inc. (Canada), Lynas Corporation Ltd (Australia), Torrecid Group (Spain), Potters Industries LLC (U.S.), SCHOTT AG (Germany), DuPont. (U.S.), GILLINDER GLASS (U.S.), METALL RARE EARTH LIMITED (China), Ardagh Group (Republic of Ireland), HAMMOND GROUP INC (U.S.) among others.
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The Global Glass Additives Market is fragmented on the basis of Product, Application, and Region.
On the basis of Product, the market is categorized into metal oxide, nanoparticles, and polymers & rare earth metals.
On the basis of Application, the market is categorized into building & construction, packaging, automotive & transportation, electronics & appliances, and others.
On the basis of Regions, Glass Additives Market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
The Global Glass Additives Market is segmented into five regions namely – Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is expected to grow at the fastest CAGR during the assessment period on account of rising demand from various applications such as building & construction, automotive, and packaging among others. The demand for Glass Additives is expected to surge in emerging economies such as India, China, Malaysia, and Vietnam on account of rising automobile production and sales along with growing number of personal vehicles. Moreover, the rising number of working professionals coupled with increasing demand for ready to eat items has led to increase in the consumption of packaged foods, which is further expected to raise the demand for durable Glass Additives products in packaging application. In addition, relatively inexpensive cost of labor, ease in availability of raw material, and employment of new development strategies to achieve the demand for Glass Additives on account of their rising applications are the important factors for the regional market growth.
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