The global glass ceramics industry generated $1.3
billion in 2020, and is estimated to reach $2.4 billion by 2030,
witnessing a CAGR of 6.0% from 2021
to 2030. Allied Market Research published a report, titled, "Glass
Ceramics Market by Composition (Lithium-Aluminium-Silicate (LAS),
Zinc-Aluminium-Silicon Oxides (ZAS), Magnesium-Aluminium-Silicon Oxides (MAS),
and Others) and Application (Building & Construction, Electrical &
Electronics, Healthcare, Aerospace, Optical, and Others): Global Opportunity
Analysis and Industry Forecast, 2021–2030."
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Leading Market Players
·
CoorsTek Inc.
·
Corning Inc.
·
Kanger Glass-ceramic Co., Ltd.
·
Kedi Glass-Ceramic Industrial Co. Ltd.
·
Kyocera Corporation
·
Morgan Advanced Materials plc
·
Nippon Electric Glass Co.,Ltd.
·
Ohara Corporation
·
Saint Gobain
·
Schott AG
Drivers, restraints, and opportunities
Development of
nano-phase ceramics, low thermal expansion, and surge in urbanization drive the
growth of the global glass ceramics market. However, high costs of optical
ceramics hinder the market growth. On the other hand, increase in the
manufacturing of antennas for Wi-Fi applications and mobile phones in the
electronics industry create new opportunities in the coming years.
Covid-19 Scenario
Manufacturing
activities of glass-ceramics stopped due to lockdown measures implemented in
many countries. Moreover, disruptions in the supply chain and shortage of raw
materials presented new challenges in manufacturing with full capacity.
The demand from
application industries such as building & construction, aerospace, optical,
and others reduced considerably due to the stoppage of day-to-day operations
during the lockdown. However, the demand is estimated to rise grow steadily
post-lockdown as daily operations resume.
The lithium-aluminium-silicate (LAS) segment to
maintain its lead position during the forecast period
Based on
composition, the lithium-aluminium-silicate (LAS) segment accounted for the
highest share in 2020, holding more than half of the global glass ceramics
market, and is expected to maintain its lead position during the forecast
period. This is due to the LAS material being mechanically strong and ability
to sustain repeated and quick temperature changes up to 800–1000 °C. However,
the magnesium-aluminium-silicon oxides (MAS) segment is estimated to manifest
the fastest CAGR of 6.6% from 2021 to 2030, owing to increase in R&D
activities in the sector.
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The building
& construction segment to continue its leadership status during the
forecast period
Based on
application, the building & construction segment contributed to the largest
share in 2020, accounting for around two-fifths of the global glass ceramics
market, and is projected to continue its leadership status during the forecast
period. This is attributed to rise in living standards, population, and
urbanization in major developing countries across the world. However, the
optical segment is expected to witness the largest CAGR of 7.3% from 2021 to
2030. This is due to high usage of optical ceramics owing to their better
mechanical and optical properties.
Asia-Pacific, followed by North America, to offer
lucrative opportunities
Based on
region, Asia-Pacific, followed by North America, held the largest
market share in 2020, contributing to more than one-third of the global glass
ceramics market, and is expected to maintain its dominance in terms of revenue
by 2030. Moreover, this region is expected to register the fastest
CAGR of 7.3% from 2021 to 2030. This is due to growth of the optics and
optoelectronics industry in emerging countries in the region.
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