Special Glass Market - Forecast(2024 - 2030)

Special Glass Market Overview

Special Glass Market size is forecast to reach US$1.2 billion by 2027, after growing at a CAGR of 6.8% during 2022-2027. Special glass is a type of glass that is a blend of silicates like borosilicate, and aluminosilicate glass which are widely used in the display & cover glass, camera lenses, mirrors, prisms, and others in construction, optical, healthcare, and electronics sectors. Also, versatile material like amorphous solid can be suitably altered by changing basic ingredients and adding a few more ingredients has now emerged to meet any special requirements in engineerings such as fiberglass, foam glass, structural glass, wired glass, and others. According to Glass for Europe, building segments held the largest share of around 80% of flat glass consumption, transportation of around 15%, and others occupying 5% of share between glass for many different applications such as solar applications, appliances (fridges or ovens), electronics, furniture, and many more in Europe. Therefore, the growing development of the building & construction sector along with growing demand from transportation, and others will boost the demand for special glass during the forecast period.

COVID-19 Impact

The Covid-19 pandemic has been a major challenge for the Special Glass Market owing to directly affecting the manufacturer's supply chain across the globe and shutting down the production facilities to minimize the risk of virus spread. The lockdown period seriously affected sales in the hospitality sector, an important sector for glass packaging, although retailer sales kept up a strong pace. Also, due to the social distancing policy, most construction projects have been halted to eradicate the risk of infection due to covid 19. According to Great Britain Office for National Statistics, the overall construction activity has declined by 44.4%, public construction declined by 70.3%, and private construction activity has fallen by 59.9%. As the pandemic affected the markets in each country, the strengths and weaknesses of the construction sector in each country will shape future outcomes. The growing initiatives taken by the government and private sector will help to recover the Special Glass Market during the forecast period.

Report Coverage

The report: “Special Glass Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Special Glass industry.

By Material: Aluminosilicate, Soda-lime, Borosilicate, Alkali-lead Silicate, and Others
By Type: Fiber, Foam, Bulletproof, Structural, Ultraviolet ray, Perforated, and Others
By Application: Transportation (Windshields, Lights, Indicators, Dashboards, Consoles, Windows, And Others), Building & Construction (Facades, Windows, Doors, Curtain Walls, Roofs, Skylights, And Others), Packaging (Jars, Bottles, Falcon, And Others, Interior Design And Furniture (Mirrors, Partitions, Balustrades, Tables, Shelve, Lighting, And Others), Appliances & Electronics (Screens, Display & Cover Glass, Touch Panels, Cook Top, And Others
), Optical Industry (Camera Lenses, Mirrors, Prisms, And Others), Healthcare (Hospitality, Medical Equipment, Life science engineering, biotechnology, Test Tubes, and Others), Beauty & Personel Care, Energy, Industrial, and Others
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Netherlands, Belgium, Spain, Russia, and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, and New Zeeland, Indonesia, Taiwan, Malaysia, and Rest of APAC), and Rest of the World: The Middle East (Saudi Arabia, UAE, Israel, Rest of the Middle East) and Africa (South Africa, Nigeria, Rest of Africa)

Key Takeaways

• The Asia Pacific is expected to register a CAGR of 8.2% during the forecast period (2022-2027). The increasing demand for building construction, among Asian countries such as China, India, Japan, and South Korea is driving the market for special glass.
• Growing demand for special foam glass for industrial purposes for insulation is expected to boost the demand for special foam glass during the forecast period.
• Robust demand for borosilicate & aluminosilicate glass for the display panel, windows, facades, conservatory, insulation, reinforcement structures, and others owing to temperature and corrosion properties will increase the demand for the special glass.
• Rising demand from laboratory apparatus and solar energy tubes industry, development of solar power industry will boost Special Glass Market.

Figure: Asia Pacific Special Glass Market Revenue, 2021-2027 (US$ Billion)

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Special Glass Market Segment Analysis – By Material

The borosilicate segments accounted for around 38% of the market share in 2021 and are estimated to grow at a significant CAGR during the forecast period. Borosilicate glass is a type of glass having components of boron and silicates, thereby having very low coefficients of thermal extension more than any other common glass. The borosilicate special glass is widely used in laboratory apparatus and solar energy tubes industry, pharmaceutical packaging material, household cookware, heat resistant glass panels, and many more. According to US Solar Energy Industry Association, more than 230,000 Americans work in solar at more than 10,000 companies in every U.S. state as of 2020. In 2021, the solar industry generated more than US$33 billion of private investment in the American economy. Therefore, the growing solar installation will help to boost borosilicate segments of special glass demand during the forecast period.

Special Glass Market Segment Analysis - By Application

The building & construction segment accounted for approximately 70% of the market share in 2021 and is estimated to grow at a significant CAGR during the forecast period. The special glass is widely used in buildings for interior and exterior decors like facades, windows, doors, curtain walls, roofs, skylights, and others. According to BC Construction Association, the Canadian building sector has generated a revenue of $125 billion in 2021 with an increase of 11% from 2020. Also, $220 billion in proposed projects in Canada are underway as of 2021. Thus, the increasing investments in construction and rising residential and construction activities are expected to drive the demand for the Special Glass Market during the forecast period.

Special Glass Market Segment Analysis - By Geography

Asia Pacific region held the largest share in the Special Glass Market in 2021 up to 42%, owing to the growing industrial, residential, commercial, and large infrastructure projects, in developing countries like China, India, Indonesia, and others. The major factors responsible for the growth of special glass are low carbon footprint which gives eco-friendly products and can be recycled. The special glass products are widely used for windows, facades, conservatory, insulation, reinforcement structures, and others. According to the Republic of Philippines Authority, the total number of residential permits for construction in the third quarter of 2021 was around 24,332 and non-residential permits for construction in the third quarter of 2021 was around 5,491. According to China Association for Medical Devices Industry (CAMDI), the development and reform commission of Shenzhen municipality, china is investing US$15.82 million in the special support program for market access to drugs and medical devices. Therefore, the growing construction and medical sector is boosting the demand for the Special Glass Market during the forecast period.

Special Glass Market Drivers:

Increasing demand for Special Glass for pharmaceutical applications

Special glass is the ideal material for pharmaceutical applications and is uniquely suited to supply high-quality pharmaceutical glass tubing and vials to meet the rigorous needs of the pharmaceutical packaging industry. The pharmaceutical packaging is very much essential that helps lifesaving drugs reach patients in need with reliability and efficiency from vaccines for viruses of pandemic proportion to everyday medications. According to Innovative Medicines Canada, the Canadian research-based pharmaceutical industry invested over US$2.2 billion in research and development (R&D), with an increase of 13% in 2021 as compared to 2020, and contributed US$15 billion to the economy. The industry has an R&D to sales ratio of 9.7% almost three times higher as compared to the previous year. Therefore, the growing pharmaceutical sector will be driving the Special Glass Market during the forecast period.

Growing electronics industry across the globe

The electronics sector is growing rapidly owing to increasing demand from emerging market economies. As a result, many countries are increasingly producing more electronics, and investment in the foreign production of electronics has increased dramatically. Also, growth in the electronics sector is primarily driven by innovation, with companies spending significant amounts on research and development (R&D) to make better products and to increase the efficiency of the manufacturing process. Special glass plays a vital role in electronics sectors as it is widely used for the display panel, touch screens, lenses, prisms, and many more which are composed of various blends of silicates like borosilicate, and aluminosilicate glass. According to Invest India, the global electronics components market is expected to reach US$191.8 billion by 2022, of which the Asia Pacific region is anticipated to capture a dominant share globally. The growth in the electronic components sector will eventually help to boost the demand for the Special Glass Market during the forecast period.

Special Glass Market Challenges:

Higher Price of special glass

Special glasses are premium products, so they are available at higher prices when compared to plastic and other materials. The reason behind this is its production cost, while producing products, the machinery and the equipment which are used are tagged with higher expense, also, these machinery require high maintenance. Owing to this factor, the product of special glass comes at a higher price as compared to its alternative materials, which tends to constrain the growth of the market. The price of the special glass lens product varies from US$25 to US$ 100 based on quality and application whereas local glass lenses start from US$5 and above. Also, the lack of awareness of the special glass product among a specific section of the population is hampering the market growth during the forecast period.

Special Glass Market Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Special Glass Market. Global special glass top 10 companies include

1. AGC Inc.
2. Corning Inc.
3. Saint-Gobain S.A.
4. Nippon Sheet Glass Co., Ltd
5. Guardian Industries
6. Technical Glass & Aluminum Co. L.L.C.
7. Borosil Glass Works Ltd
8. Fabricated Glass Specialties, Inc.
9. Schott AG
10. Auer Lighting GmbH

Recent Developments

• In March 2022, Armacell, has launched ArmaPET Eco50, the new Environmental Product Declaration (EPD) certified solution for the structural insulation of building envelopes, roofs, and floors, as well as for load-bearing applications such as under-slab insulation, both in the construction of new buildings and the renovation of older ones.
• In February 2022, Borosil Renewables announced expand its solar panel glass manufacturing capacity from 450 tons per day to 2,000 as it continues to see strong growth in demand. The company is adding a third solar line with a capacity of 550 metric tons which is expected to start production by September 2022 and will enhance the manufacturer’s daily production capacity to 1,000 tons.
• In July 2020, US-based Corning Inc. launched Gorilla Glass Victus after Gorilla Glass 6. After laboratory tests, Corning Gorilla Glass Victus can be dropped from a height of up to 2 meters to a hard and rough surface to remain intact, while other brands of aluminosilicate glass are usually damaged when dropped from a height of fewer than 0.8 meters.

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