The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global glass additives market is expected to reach USD 1.56 billion by 2025, according to a new report by Grand View Research, Inc. Increasing consumption of colored and specialty glass in the packaging industry has been a major factor driving the glass additives market growth.
Rising demand from food & beverage industry in addition to the growing popularity for customized glass wares across industries such as pharmaceuticals, cosmetics, etc. are expected to contribute to the demand for glass packaging. High demand for glass packaging will, in turn, is projected to spur the glass additives industry.
Demand for durable glass with enhanced properties such as water repellent, UV protection, anti-glare, etc. from automotive, electronics and construction industries has triggered the usage of metal oxides and nanoparticles during glass production. Utilization of additives in the glass helps in accelerating the manufacturing process thereby reducing the overall energy consumption. It also contributes in bringing down the total manufacturing costs.
The glass industry is slowly reviving from the recent downturn. The industry witnessed the closure of many production units around the world during past decade. Most of the glass manufacturers are focusing on product differentiation and cost advantage. Use of additives helps these manufacturers for long-term existence.
The additives industry is oligopolistic in nature with top few players holding a greater chunk of the market share. Some of the major players in the glass additives market include DuPont, Gillinder Glass, SCHOTT, Torrecid Group, and Nanobase.
Further key findings from the report suggest:
The global glass additives demand reached to 35,428.4 tons in 2016 and is expected to grow at a CAGR of 3.3% from 2017 to 2025
Europe emerged as the largest consumer in 2016 and is estimated to generate revenue over USD 533.8 million by 2025
Metal oxide demand as glass additives was valued at USD 403.1 million in 2016 and is projected to witness a growth of 3.6% over the forecast period
Asia Pacific is estimated to witness the fastest growth over the forecast period owing to the presence of key developing economies such as China, which is the largest producers of rare earth elements. The regional demand is expected to grow at a CAGR of 3.7% from 2016 to 2025
Key players including Torrecid Group, Gillinder Glass, DuPont, Ferro Corporation, SCHOTT dominated the glass additives market and accounted for over 50% of the total volume in 2015