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The specialty glass market is witnessing significant trends that are reshaping its dynamics and expanding its applications across various industries. Specialty glass, known for its unique properties such as high chemical resistance, thermal stability, and optical clarity, is gaining traction in sectors like electronics, healthcare, and construction. One notable trend is the increasing demand for specialty glass in the electronics industry. As electronic devices become more sophisticated and compact, the need for high-performance glass with exceptional properties, such as scratch resistance and durability, is on the rise. Specialty glass finds applications in the manufacturing of display screens, touch panels, and optical components, contributing to the growth of the electronics sector.
Moreover, the market is experiencing a surge in demand from the healthcare industry, particularly in the manufacturing of medical devices and laboratory equipment. Specialty glass is preferred for its biocompatibility, inertness, and ability to withstand harsh chemical environments. It is used in the production of medical implants, diagnostic instruments, and pharmaceutical packaging. The increasing focus on healthcare infrastructure and advancements in medical technology are driving the demand for specialty glass in this sector.
Additionally, there is a growing emphasis on sustainable and energy-efficient solutions, influencing the use of specialty glass in the construction industry. Specialty glass products, such as energy-efficient windows, smart glass, and architectural glass with enhanced thermal insulation, are gaining popularity. These solutions contribute to energy conservation by improving the building's insulation and allowing for better natural light utilization, thereby reducing the need for artificial lighting and heating. As sustainability becomes a key consideration in construction projects, the adoption of specialty glass is expected to increase.
The market is also witnessing innovations in glass technology, leading to the development of new and advanced specialty glass products. Nanotechnology and thin-film coatings are being utilized to enhance the performance of specialty glass, making it more resistant to fingerprints, scratches, and environmental factors. Anti-reflective coatings and self-cleaning properties are becoming common features in specialty glass products, catering to consumer preferences for low-maintenance and high-durability materials.
Furthermore, the automotive industry is a significant consumer of specialty glass, particularly in the manufacturing of advanced automotive glazing. Specialty glass is used for windshields, windows, and sunroofs, providing features such as UV protection, noise reduction, and enhanced safety. The trend towards electric and autonomous vehicles is further driving the demand for lightweight and high-performance materials, positioning specialty glass as a crucial component in the automotive sector's evolution.
Despite these positive trends, challenges exist within the specialty glass market. Fluctuations in raw material prices, such as those of silica and other components used in glass production, can impact manufacturing costs for glass producers. Additionally, the COVID-19 pandemic has disrupted supply chains and affected the manufacturing and demand for specialty glass in various industries.
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
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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.
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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.
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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.
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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.
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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
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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.
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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.
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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.
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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.
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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
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Nippon Sheet Glass Co., Ltd (Japan) - AGC Inc (Japan)
- Guardian Industries (US)
- Corning Inc. (US)
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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)
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