New York, United States, April 30, 2024 (GLOBE NEWSWIRE) -- Glass-ceramics are polycrystalline materials created by crystallizing a base glass under regulated conditions. The essential component of the global glass ceramics market is the increase in demand as the building industry expands. This material is extensively employed in the industrial and commercial sectors because it minimizes noise and is less expensive than alternative options. In the next years, one of the most significant issues for the worldwide glass ceramics sector will be the high energy cost needed in production. The price of critical energy supplies such as crude oil impacts their production.
As the building sector expands and demand rises, the glass ceramics market share is expected to climb. Glass ceramics are more affordable than other materials. They are also used to assist in minimizing noise in the industrial and commercial sectors. In the aerospace industry, glass ceramics are currently used in the nosecones of high-end aircraft and missiles. They must withstand harsh environmental conditions such as atmospheric reentry, erosion, and rain. They are employed in the aerospace industry due to their outstanding abrasion resistance and mechanical strength.
Increasing Demand from the Construction Industry Drives the Market
Due to their durability, strength, and beauty, glass ceramics are widely used for building facades, flooring, and interior walls. The building industry, especially in emerging economies, is expected to grow, driving glass ceramics demand and market share. Due to its durability and great temperature tolerance, glass ceramics make smartphones and tablets. Glass ceramics will become more popular as consumer electronics demand rises. The Glass Ceramics Market is growing due to healthcare demand for dental restorations, orthopedic implants, and bone substitutes. India, the U.S., Israel, and the UAE formed a quadrilateral economic forum in November 2021 to focus on regional infrastructure development.
Advancements in Material Science and Manufacturing Processes Create Tremendous Opportunities
As material science and production technologies advance, glass ceramics may find new uses. This may broaden the market to additional sectors and regions. Due to its thermal and electrical properties, glass ceramics can be examined as a substrate for sophisticated microelectronics. Their optical transparency makes them ideal for telecommunications and aircraft optical components. Additionally, the increased emphasis on eco-friendly and sustainable materials may benefit glass ceramics. Glass ceramics' resilience and endurance may make them tempting alternatives to single-use plastics or less durable materials as the market shifts toward greener options.
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Regional Insights
Asia-Pacific is a significant market for glass ceramics. The significant growth of the optical and optoelectronics, building and manufacturing, and aerospace manufacturing industries will likely fuel Asia-Pacific revenue growth. Infrastructure projects in India accounted for 13% of USD 81.72 billion in FDI in FY21. FDI for infrastructure (building) was USD 25.95 billion between April 2020 and September 2021. This shows that companies invest heavily in infrastructure development in densely populated countries like India, making Asia-Pacific the main market. The massive Chinese construction industry drives ceramic ink demand. The Chinese government anticipates building capital spending to rise over 7% this year. The building business is growing quickly in China, the largest market. Beijing International Airport is a major building project. The Asia-Pacific area is seeing more demand for glass ceramics from growing nations like India, China, and Indonesia.
North America will likely dominate the market due to increased demand from the building and manufacturing sectors, nano-phase ceramics, fast urbanization, and strong and economical glass ceramic houses. The increasing use of glass ceramics in end-use industries like power and energy, optical, medical, and electronics manufacturing, as well as stricter regulations on other construction materials, are expected to boost glass ceramic use and revenue growth in the region. Glass ceramics are popular in North American home appliances, especially cooktops and stovetops. The Association of Home Appliance Manufacturers (AHAM) reports that the region's demand for energy-efficient appliances drives the development of new materials, including glass ceramics. These materials boost appliance performance and save energy.
Key Highlights
- The global glass ceramics market size was valued at USD 1,460 million by 2022 and is projected to reach USD 2,674 million by 2031, registering a CAGR of 6.5% during the forecast period (2023-2031).
- Lithium-aluminium-silicate (LAS), Zinc-aluminium-silicon oxides (ZAS), Magnesium-aluminium-silicon oxides (MAS), and Others are the subcomponents of the composition. The market is controlled by lithium-aluminum-silicate (LAS).
- Building and construction, electrical and electronics, healthcare, aerospace, optical, and other applications can be divided into segments. Building and construction ruled the market.
- Depending on the region, the market is analyzed in North America, Asia-Pacific, Europe, and LAMEA. Asia-Pacific dominates the market.
Market News
- In July 2023, CoorsTek acquired Avon Protection Assets in Lexington, KY.
- In July 2023, the new ViridianTM vials from corning reduce waste and carbon emissions in the pharmaceutical supply chain.
Global Glass Ceramics Market: Segmentation
By Composition
- Lithium-aluminium-silicate (LAS)
- Zinc-aluminium-silicon oxides (ZAS)
- Magnesium-aluminium-silicon oxides (MAS)
- Others
By Application
- Building and construction
- Electrical and electronics
- Healthcare
- Aerospace
- Optical
- Others
By Region
- North America
- Asia-Pacific
- Europe
- The Middle East and Africa
- Latin America
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