Glass Ceramics Market

Glass Ceramics Market Outlook - 2021–2030

The global glass ceramics market size was valued at $1.3 billion in 2020, and is projected to reach $2.4 billion by 2030, growing at a CAGR of 6.0% from 2021 to 2030.

The COVID-19 outbreak has impacted negatively on the global glass ceramics market. This is attributed to temporary shutdown of manufacturing and import & export activities across the globe which further disrupted the supply chain of glass ceramics market.

Glass ceramics refer to polycrystalline materials that are made by crystallizing base glass under regulated conditions. The most significant facet of the global glass ceramics market is the rise in demand owing to growth of the construction business. This substance is widely utilized in the industrial as well as commercial sectors since it minimizes noise and is less expensive than other options. The high cost of energy utilized in production is one of the biggest difficulties of the global glass ceramics market in the years to come. The manufacturing of these materials is affected by price changes in essential energy supplies like crude oil.

Among all the applications, the construction and building business ranked first in terms of income. Glass ceramics are widely used in the construction industry for tiles and other fittings. Because of expanding urbanization, population, and rise in living standards in key emerging countries around the world, the construction business is experiencing groth. In the aerospace industry, glass ceramics are currently used in the nosecones of advanced missiles and aeroplanes as they must withstand extreme environmental conditions such as atmospheric rain and erosion. This is expected to increase the prominence of the global glass ceramics market in the years to come.

The global glass ceramics market is expected to grow due to the building industry's expansion and increased demand. Glass ceramics are less expensive than other materials. They also aid in the reduction of noise and are used in industrial and commercial sectors. In the aerospace industry, glass ceramics are currently used in nosecones of high-end aircrafts and missiles. They are required to withstand harsh conditions resulting from atmospheric reentry, erosion, and rain. As a result, they are employed in the aerospace industry owing to their combination of properties such as excellent abrasion resistance and high mechanical strength.

Surge in manufacture of antennas for Wi-Fi applications and mobile phones in the electronics industry is anticipated to boost the demand for glass ceramics. Antennas with glass ceramics and copper exhibit a high response to frequencies and offer improved performance. Glass ceramics are surveyed to be choice materials for the semiconductor sector as well. This could be because of their outstanding conducting and insulating properties.

The glass ceramics market is segmented into composition, application, and region. By composition, the market is segregated into lithium-aluminium-silicate (LAS), zinc-aluminium-silicon oxides (ZAS), magnesium-aluminium-silicon oxides (MAS), and others. On the basis of application, it is fragmented into building & construction, electrical & electronics, healthcare, aerospace, optical, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Global glass ceramics market, by composition

By type, the lithium-aluminium-silicate (LAS) segment accounted for around 51.2% of the glass ceramics market share in 2020, due to its widespread use on account of its outstanding set of properties. The continuous research and development in this field has led to achieving better efficiencies.

Global glass ceramics market, by application

On the basis of application, the building & construction segment is projected to grow at the highest rate during the glass ceramics market forecast period. The global construction sector is growing rapidly owing to the growth in living standards, population, and urbanization in major developing countries globally.

Glass ceramics market, by region 

Region wise, Asia-Pacific is expected to exhibit the highest growth rate during the forecast period, owing to growth in the optics and optoelectronics industry in emerging economies. Asia-Pacific is expected to register the highest CAGR of 7.3%.

Key Benefits For Stakeholders

• Porter’s five forces analysis helps to analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
• It outlines the current trends and future estimations from 2020 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The major countries in the region have been mapped according to their individual revenue contribution to the regional market.
• The key drivers, restraints, & glass ceramics market opportunities and their detailed impact analysis are explained in the study.
• The profiles of key players and their key strategic developments are enlisted in the report.

Impact of COVID-19 on the global glass ceramics market

The outbreak of COVID-19 pandemic led to partial or complete shutdown of production facilities, which do not come under essential goods, owing to prolonged lockdown in major countries such as the U.S., China, Japan, India, and Germany. It has led to either closure or suspension of their production activities in most of the industrial units across the world. Construction & infrastructure is one of the most affected sectors, owing to lockdown announced in several countries. Lockdown has affected several construction and infrastructure projects due to supply chain disruptions and unavailability of workers.

Since the advent of the pandemic, the electrical & electronics, healthcare, aerospace, and optical sectors witnessed a severe decline. As a result, there is a decrease in the demand for glass ceramics in the construction sector, thereby affecting the market growth.

 Glass Ceramics Market Report Highlights