MARKET ANALYSIS
Glass ceramics are advanced materials that are produced by controlled crystallization of glass. The possess a unique combination of properties that makes them highly desirable in various applications. Glass ceramics exhibits excellent strength, thermal stock resistance, and chemical durability, making them suitable for demanding environments. They also offer aesthetic appeal due to their transparency and can be easily moulded into complex shapes. They find extensive use in industries such as electronics, healthcare, aerospace, and automotive.
GROWTH DRIVERS AND CHALLENGES
The advancements in manufacturing processes have significantly contributed to the growth of glass ceramics market. These advancements involve the development and implementation of innovative technologies to produce glass ceramics, resulting in improved efficiency, cost effectiveness, and product quality. Manufacturing processes such as controlled crystallization, rapid prototyping, and precise moulding enable the production of glass ceramics with consist composition, desired crystalline structure, and dimensional accuracy. Additionally, the integration of automation and (CAD/CAM) systems has enhanced the precision and speed or production, allowing for customization and meeting specific application requirements. These advancements have not only expanded the range of potential applications for glass ceramics but also made them more accessible and economically viable, there driving glass ceramics market growth.
The glass ceramics market faces competition from alternative materials that can serve as substitutes in specific applications. For instance, in the automotive industry, lightweight composites or advanced metals offer alternative options to glass ceramics for components that require high strength and reduced weight. Similarly, in the healthcare sector, polymers and metals can provide competitive advantages in certain medical devices or implants. The challenge lies in demonstrating the unique benefits and value proposition of glass ceramics over these alternatives, showcasing their specific properties.
REPORT SEGMENTATION AND SCOPE
The "Global Glass Ceramics Market Analysis to 2030" is a specialized and in-depth study with a major focus on the global glass ceramics market trends and growth opportunities. The report aims to provide an overview of the global glass ceramics market with detailed market segmentation by material, application, and geography. The global glass ceramics market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of glass ceramics worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the glass ceramics market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the glass ceramics market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative glass ceramics market opportunities that would, in turn, aid in identifying the major revenue pockets.
Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global glass ceramics market, which helps understand the entire supply chain and various factors affecting the market growth.
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SEGMENTAL ANALYSIS
The global glass ceramics market is segmented based on material and application. Based on material, the glass ceramics market is classified as, lithium, aluminum and silicon oxides (LAS), magnesium, aluminum and silicon oxides (MAS), zinc, aluminum and silicon oxides (ZAS), and others. The glass ceramics market is categorized based on application into, electrical and electronics, building and construction, healthcare, aerospace, optical, and others.
Based on application, the electrical and electronics accounted for a significant glass ceramics market share which can be attributed to extensive use of glass ceramics in this sector. Glass ceramics offers a unique property that makes them highly desirable in electrical and electronics sector. They exhibit excellent electrical insulation properties, high thermal shock resistance, and low dielectric loss, making them ideal for applications such as insulators, circuit substrates, and electronic packaging. Glass ceramics are also used in the production of precision components for electronic devices such as sensors, resistors, and capacitors. Furthermore, the increasing demand for consumer electronics, advancements in telecommunications infrastructure, and the growing adoption of renewable energy technologies are fuelling the need for high-performance materials like glass ceramics in electrical and electronics industry, which is fuelling glass ceramics market.
REGIONAL ANALYSIS
The report provides a detailed overview of the global glass ceramics market with respect to five major regions, namely: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America.
North America is anticipated to account for a significant revenue share in the global glass ceramics market, attributable to rising demand from the construction and manufacturing sector, the development of nano-phase ceramics, rapid urbanization, and the development of robust and affordable houses equipped with glass ceramics. Moreover, the increasing use of glass ceramics in various end-use industries such as power & energy, optical, medical, and electronics manufacturing and the implementation of stringent regulations regarding certain other construction materials is expected to boost the use of glass ceramics and further drive revenue growth of the glass ceramics market in the region.
INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES
Partnership, acquisitions, and new product launches were found to be the major strategies adopted by the players operating in the global glass ceramics market.
- In March 2023, Nippon Electric Glass Co., Ltd. has developed a glass-ceramic solid electrolyte that exhibits sodium (Na) ion conductivity surpassing organic electrolytes and a wide operating temperature range.
IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION
Due to prolonged lockdowns in important nations like the United States, China, Japan, India, and Germany, the COVID-19 pandemic resulted in the partial or total shutdown of production facilities that do not fall under essential goods. In most industrial units worldwide, it has resulted in the closure or suspension of their production activities. Due to lockdowns announced in several countries, the construction and infrastructure sectors are among the most severely impacted. Due to supply chain disruptions and a dearth of workers, the lockdown has hampered several infrastructure and construction projects. Since the arrival of the pandemic, the electrical & electronics, healthcare, aerospace, and optical industries witnessed a severe decline, affecting glass ceramics market. In the year 2022, the resumption of industrial activities, pent-up demand and increase focus on healthcare application has help the glass ceramics market to grow. As economies reopened, the demand of glass ceramic across several sectors regained momentum.
COMPETITIVE LANDSCAPE AND KEY COMPANIES
Some of the key players operating in the glass ceramics market include, Quartztec-Europe Ltd, Elan Technology, Inc., SCHOTT AG, EUROKERA Group, Ohara Corporation, Wenzhou Kanger Crystallite Utensils Co.,Ltd., Nippon Electric Glass Co.,Ltd., Corning Incorporated, ILVA Glass SpA, VITRON Spezialwerkstoffe GmbH, KAHO special glass Co., Ltd, CoorsTek Inc., China Glass Ceramic Inc., Metoxit AG., and AGC Inc. among others.