Glass Alternative Materials Market Predicted to Reach USD 14.8 billion Until 2031: Report from TMR

Wilmington, Delaware, United States, Sept. 27, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The glass alternative materials market is projected to reach US$ 14.8 billion by 2031. It is anticipated to register a 5.8% CAGR from 2020 to 2031

Various industries are requesting sustainable, high-performance alternatives to traditional glass, causing the glass alternative materials market to grow rapidly. Polycarbonate and acrylic are becoming increasingly popular as replacements for glass in the automotive, construction, and aerospace industries.

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Compared to traditional materials, these materials are more impact-resistant and lighter, which makes them a cost-effective and energy-efficient choice for the construction industry. Glass that is biodegradable is another material with environmental benefits that is gaining popularity. Bottles, cups and jars, made from biodegradable glass may prove to be a cost-effective and sustainable solution to waste management.

This material could replace conventional glass in a variety of applications, including food and beverage packaging, cosmetics, and even industrial applications. The use of biodegradable glass also lends itself to innovative, creative projects that require new approaches. In order to reduce society's impact on the planet and achieve sustainability goals, the use of biodegradable materials will become increasingly important.

Key Findings of the Market Report

• Increasing automotive production and the automotive industry is expected to drive the market for glass alternatives.
• With electronic devices getting cheaper and LED screens getting more popular, the market is set to grow.
• Polycarbonate is predicted to drive demand for glass alternative material market.
• Construction projects are expected to drive the demand for glass alternative materials in the market in the near future.
• The demand for light transmission glass with >80%-90% is expected to increase over the next few years.
  
  

Global Glass Alternative Materials Market: Growth Drivers

• The use of recycled or renewable materials in glass is becoming more popular as environmental concerns rise. Increasing sustainability and reducing carbon footprints are key global priorities.
• Technological advancement and innovation in materials are expected to drive the market. Due to the diverse requirements of different industrial sectors, manufacturers are focusing on improving the thermal stability, optical clarity, and strength of materials.
• Glass alternatives are also popular because of their design flexibility in addition to their physical properties. Architecture and design can create innovative structures and products using these materials, which can be moulded and shaped into complex forms.
  
  

Glass alternative materials' durability, versatility, and sustainable materials are driving the market. As technological advances, environmental awareness, and a need for sustainable alternatives continue to increase, the market is expected to grow over the next few years. In the coming years, the market for glass alternatives will grow as consumers and industries alike look for greener, more efficient solutions.

Glass Alternative Materials Market: Regional Landscape

• Asia Pacific is projected to account for a substantial share of the market for glass alternatives in 2023. Glass alternative materials cost and higher disposable incomes in India will boost the market.
• With the continued development of infrastructure, as well as the growing competitiveness of India and China as emerging economies, Asia Pacific is expected to enjoy the fastest growth. Glass alternative materials are evolving due to the government's efforts to provide affordable housing, particularly in developing countries.
• Europe is expected to lead the glass alternative materials market in the coming years. Sustainable and green building initiatives have long been a hallmark of Europe, resulting in alternative materials with a reduced environmental impact. UV-resistant roof and glazing materials such as acrylic and polycarbonate are ideal for regions with high solar exposure.
  
  

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Global Glass Alternative Materials Market: Key Players

Several glass alternative materials manufacturers have been expanding their geographical reach and updating their product portfolio to capture maximum market share, making the global glass alternative materials market highly competitive, as revealed by TMR's analysis. Companies' strategic moves, segmental revenues, and recent developments are carefully studied to determine where the competition is among these key players.

Among the players profiled in the recent glass alternative materials market study are

• Gerresheimer AG
• West Pharmaceutical Services, Inc.
• Berry Global, Inc.
• Amcor Plc
• Corning Incorporated
• Schott AG
• Adelphi Healthcare Packaging
• Stevanato Group
• SGD S.A.
• Nipro Pharma Corporation
• Piramal Glass
• DWK Life Sciences
• Acme Vial and Glass Company, LLC
• Phoenix Glass, LLC, etc.

Key Developments

• In February 2023, Grafren AB, an associated member of the Graphene Flagship, is developing graphene coatings for glass fibres that can be used for a variety of purposes, including lightening products, shielding EMI, and improving electrical, thermal, and mechanical properties, among other things.
• In July 2023, LightPath Technologies, Inc., a world leader in optical and infrared technology, provided an overview of the impact of China's newly announced restrictions on gallium and germanium. LightPath will gladly assist any potential customer seeking to transition away from Germanium by offering LightPath's chalcogenide glasses as an alternative.

Global Glass Alternative Materials Market: Segmentation

• By Type
  • Acrylic
    • Methyl Methacrylate
    • Isobornyl Methacrylate
    • Methyl Methacrylate-Butadiene-Styrene (MBS)
    • Others (Thermoplastic Acrylic Polymers {TPA])
  • Polycarbonate
    • Bisphenol A and Carbonyl Chloride
    • Bisphenol A and Diphenyl Carbonate
    • Bisphenol A and Phosgene
    • Others (Condensed Bisphenol A)
  • Transparent Wood
  • Others (Polymers)
• Light Transmission
  • Up To 80%
  • >80%-90%
  • >90%
• Application
  • Visual Application
    • Spectacles
    • Eye Lenses
    • Others (Goggles)
  • Automotive
    • Headlights
    • Taillights
    • Windshield
    • Interiors
    • Others (Sunroof)
  • Electronic
    • LCD Screens
    • DVDs
    • Displays
    • Others (LED)
  • Construction
    • Windows
    • Roof
    • Furniture
    • Others (Room Dividers)
  • Medical Devices
    • Cuvettes
    • Tubing Connectors
    • Others (Syringe)
  • Aviation
    • Aircraft Cabin Windows
    • Fighter Canopies
    • Others (GPS Displays)
  • Energy
    • Solar Cells
    • Solar Panels
    • Others (Connectors)
  • Others (Defense)
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

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