Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The Specialty Glass market is marked by dynamic factors that shape the production, demand, and pricing of specialized glass products tailored for specific applications. Specialty glass, known for its unique properties such as high resistance to heat, chemical durability, and optical clarity, finds applications in various industries including electronics, healthcare, automotive, and architecture. The market dynamics are influenced by technological advancements, evolving consumer preferences, and industry-specific needs.
One of the key drivers of the Specialty Glass market is the rapid technological advancements in electronics and telecommunications. Specialty glass is essential in the manufacturing of display screens, optical fibers, and semiconductor components. As the demand for high-resolution displays, fiber-optic communication, and electronic devices continues to grow, so does the demand for specialty glass with specific optical and thermal properties.
The automotive industry is another major influencer of the market dynamics of specialty glass. Advanced glass technologies, such as laminated glass for windshields and glass with embedded electronic features, contribute to improved safety, energy efficiency, and enhanced driving experiences. As automotive manufacturers increasingly prioritize these features, the demand for specialty glass in the automotive sector rises.
In the healthcare industry, specialty glass plays a crucial role in medical devices, laboratory equipment, and pharmaceutical packaging. Glass with properties like chemical resistance and biocompatibility is vital for applications such as medical imaging, diagnostic instruments, and drug storage. The growing emphasis on healthcare innovation and the development of sophisticated medical technologies contribute to the demand for specialty glass in the healthcare sector.
Architectural applications represent a substantial market for specialty glass, particularly in the construction of modern buildings and infrastructures. Specialty glass products, such as smart glass and energy-efficient glass, contribute to sustainable building practices by enhancing natural lighting, reducing energy consumption, and improving thermal insulation. As sustainable construction practices gain prominence, the demand for specialty glass in architecture continues to rise.
Supply dynamics in the Specialty Glass market are influenced by the availability and cost of raw materials such as silica, soda ash, and limestone. The glass manufacturing industry, which relies on these raw materials, is subject to market fluctuations and global trade dynamics. Additionally, advancements in glass manufacturing processes impact the overall supply chain dynamics, influencing the production efficiency and cost-effectiveness of specialty glass.
Global trade dynamics are significant in the Specialty Glass market, with many countries involved in both the production and consumption of specialty glass products. Trade policies, tariffs, and regional economic conditions can impact the flow of specialty glass across borders. The market is also influenced by competition among manufacturers to develop innovative glass products with enhanced functionalities and performance.
Environmental considerations and sustainability initiatives play a growing role in shaping the market dynamics of specialty glass. Companies are investing in research and development to create environmentally friendly glass products, including recyclable and energy-efficient glass. As consumers and industries prioritize sustainable practices, the demand for eco-friendly specialty glass solutions is expected to increase.
Price volatility is a common factor in the Specialty Glass market, driven by fluctuations in raw material prices, technological advancements, and market demand. Companies in this dynamic market must adopt effective pricing strategies and risk management practices to navigate the uncertainties associated with price variations.
Specialty Glass Market Highlights:
Market Forecast
Specialty Glass Market is projected to register a CAGR of 7% and cross USD 35 Billion by 2027. Specialty glass accounted for approximately a quarter of the overall glass market in 2018.
Market Synopsis
Specialty glass is used for technical applications such as electronics, optics, engineering, lightening, ophthalmic lenses, and glass ceramics. The specialty glass market consists of diverse products including lighting, cookware, flat-screen displays, fiber optics, and ophthalmic lenses. Specialty glasses have high mechanical strength, thermal expansion rate, chemical resistance, and optical transmission.
The global specialty glass market is expected to witness robust growth during the forecast period. This can be attributed to high demand in the electronics and telecommunication industries. Furthermore, the applications of specialty glass are constantly evolving owing to the increasing investment in research and development activities. The global production by the electronics and IT industries was valued at USD 2,935 billion in 2018 and is expected to register a CAGR more than 5% during the forecast period. The display devices accounted for a 5% share and the telecommunication segment accounted for about 18% share of the production by the global electronics and IT industries. The increasing demand for smartphones, TVs and other consumer electronics driven by increasing disposable income, changing lifestyles, and economic growth is driving the demand for specialty glass.
The other prominent use of specialty glass is in the construction industry for architectural design. The global construction industry was valued at USD 8.5 trillion in 2018 and is projected to witness significant growth during the forecast period. Â Further, the increasing population, rapid industrialization, and urbanization in developing countries such as India, China, Malaysia, South Africa, Philippines, and Brazil are expected to boost the growth of the global specialty glass market during the forecast period.
Regulatory, Pricing, and Trade Analysis:
Stringent regulations set by regulatory bodies such as the Integrated Pollution Prevention and Control (IPPC), International Finance Corporation (IFC), REACH, and the US Environmental Protection Agency have increased innovation in the market. Furthermore, stringent regulations have resulted in the development of new technologies with an emphasis on reducing greenhouse gas emissions and energy consumption. The specialty glass price witnessed an increase over the past few years owing to increasing raw material and energy costs. The average price for specialty glass varied for USD 700–1600 per ton.
The total export valve of specialty glasses across the globe was USD 2,041 million in 2018, witnessing an increase of 5% or USD 102 million as compared with 2017, while the total imports were valued at USD 2,134 million in 2018, 4% up as compared with 2017. The trade data includes the products under the HS codes 7011, 7014, 7015, and 7017.
Market Drivers
- Increasing investment in the research and development activities
- Growing electronics industry across the globe
- Increasing investment in infrastructure development and growth of residential construction activities
Market Restraints
- Stringent environmental regulations and increasing raw material & energy costs
Segmentation
By Material Type
-
Borosilicate Glass: Borosilicate glass segment is expected to witness significant growth owing to increase in the number of solar power plants and high demand in the laboratories & pharmaceutical segments across the globe.
-
Aluminosilicate Glass: Aluminosilicate glass offers high impact protection, scratch resistance, and increased strength, due to which its demand is increasing in the manufacturing of space shuttle windows, smartphones, gauges, and thermometers.
-
Soda-Lime Glass: Soda-lime glass is composed of 70% silica, 15% soda, and 9% lime. Soda-lime glass accounted for the largest share of the global specialty glass market in 2018.
-
Alkali-lead Silicate Glass: Alkali-lead silicate glass offers superior chemical resistance, corrosion resistance and other technical properties, however, the high cost of the products restricts its application in high valued products such as X-Ray machines and others.
-
Others: The segment includes aluminoborosilicate glass and ceramic glass. The segment is expected to witness significant growth during the forecast period albeit having a small market share.
By End-Use Industry
- Construction: The construction segment accounted for the largest market share in 2018. The increasing investments in infrastructure development and rising residential and construction activities are expected to drive the demand for specialty glass during the forecast period.
- Electrical & Electronics: The segment accounted for the second-largest share of the global specialty glass market. The segment is expected to be the fastest-growing segment owing to the increasing consumption of domestic appliances and smartphones.
- Telecommunications: The increasing demand for optical fibers is expected to be the key driving factor for the growth of the segment.
- Laboratories & Pharmaceuticals: The surge in the demand for high strength, chemical resistant and impact-resistant glass is driving the demand for specialty glass.
- Others: The other segment includes automotive and aerospace industries. Specialty glass is mostly used in the manufacturing of windshields and for other interior applications.
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Regional Analysis
-
Asia-Pacific: Asia-Pacific was the largest market for specialty glass accounting for over one-third of the market share in 2018. The booming electrical & electronics industry across China, India, and Japan is propelling the growth of the specialty glass market. The electric component manufacturing industry in China grew by around 11% in 2018, this is expected to further augment the market growth during the forecast period. The high demand for specialty glass in the region can be mainly attributed to increasing investments in residential and commercial construction in the region. The construction industry in China was valued at USD 2.5 trillion in 2018. India is expected to create significant growth opportunities in the market. The growth of the construction industry in India is driven by increased government investment and support, which is projected to further augment the growth of the specialty glass market in India. In the union budget, 2019–20, the Government of India allocated around USD 63.20 billion for the growth of the infrastructure sector.
-
North America: The growth of the specialty glass market in North America is mainly driven by the growth of the electrical & electronics industry, increasing automotive production, and increasing investments in residential construction in the US. In 2018, the residential construction spending was valued at USD 6.7 trillion and witnessing a growth of 7% as compared with 2017.
-
Europe: The region is expected to witness relatively moderate growth driven by increasing automobile production and growth of the electronics industry in countries such as Germany, Italy, France, the UK, and Russia.
-
Latin America: The growth of the specialty glass market in the region is driven by economic growth in the key Latin America countries such as Mexico, Brazil, Argentina, Chile, and Peru.
-
Middle East & Africa: The growth of the construction industry in Saudi Arabia, UAE, Turkey, Iran, and South Africa is expected to propel the growth of the specialty glass market during the forecast period.
Key Players
-
Nippon Sheet Glass Co., Ltd (Japan) - AGC Inc (Japan)
- Guardian Industries (US)
- Corning Inc. (US)
-
Saint-Gobain S.A.(France) - Borosil Glass Works Ltd (India)
- Technical Glass & Aluminium Co. L.L.C. (UAE)
- Fabricated Glass Specialties, Inc (US)
- Schott AG (Germany)
- Technical Glass Products (US)
- Xinyi Energy Holdings Limited (China)
- Auer Lighting GmbH (Germany)
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
