The Global Glass Additives Market is segmented on the basis of Product, Application and Region.
On the Basis of Product, the market is categorized into metal oxide, nanoparticles, and polymers & rare earth metals. Among them, metal oxides product segment accounted for the largest market share and is expected to grow with the healthy CAGR due to their high adoption rate. As these are used for coloring and to enhance specific properties such as electrical and thermal conductivity. Nanoparticles segment is estimated to grow with the moderate CAGR during the estimated period. As these are mainly used as coating for gadgets, windows, and doors. Increasing popularity of scratch resistant window panes for mobile phones, automobiles, laptops, and other electronic devices is predicted to surge the market growth.
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On the Basis of Application, the market is categorized into building & construction, packaging, automotive & transportation, electronics & appliances, and others. Other segment include home and décor, fiber optics, and medical. Among them, packaging emerged as the largest end use segment and accounted for around 48% of the total market demand in 2015. Rising use of glass as a packaging material has led to the growth in the market which in turn has increased the consumption of additives.
Europe is estimated to be the largest market for Glass Additives followed by Asia Pacific and North America on account of increasing packaging, building & construction, automotive & transportation industries among others. Developing countries of Asia Pacific such as India, China, and Vietnam are the fastest growing markets for Glass Additives, and is estimated to grow with the same pace in near future. Low plant set up cost, high economic growth rate and competitive manufacturing costs are also the important factors boosting the growth of Glass Additives Market in Asia Pacific region. North American Glass Additives Market is estimated to witness a significant growth with U.S, being the major contributor on account of the presence of strong consumer base for electronic products and the major market players which govern the industry dynamics of Glass Additives over the assessment period. Europe is estimated to witness a moderate growth over the forecast period due to increasing demand from automotive & transportation industry.
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The major players operating in the Glass Additives Market include Namibia Rare Earths Inc. (Canada), Lynas Corporation Ltd (Australia), Torrecid Group (Spain), Potters Industries LLC (U.S.), SCHOTT AG (Germany), DuPont. (U.S.), GILLINDER GLASS (U.S.), METALL RARE EARTH LIMITED (China), Ardagh Group (Republic of Ireland), HAMMOND GROUP INC (U.S.) among others.
Glass Additives Market – Overview
Glass is brittle in nature and on demand, certain properties of glass can be changed to meet the desired end use application. This change in inherent properties are achieved by various ingredients such as lanthanum oxide, iron, calcium oxide, and silica which are commonly known as glass additives. These offer durability, increase refractive index, and impart color which make them suitable for use in numerous application in various end use industries such as automotive & transportation, electronics & appliances, packaging, building & construction, and others.
Some of the prominent factors that positively influence the growth of the Glass Additives Market are increasing disposable income, continuous growth of packaging industry, and improved living standards. Furthermore, rising automotive sales in the developed as well as developing regions combined with the demand for durable door and front glass windows is predicted to accelerate the market growth over the assessment period. In addition, speedy growth in building & construction industry is estimated to propel the market growth over the estimated period. However, rising demand of plastic additives in the manufacturing of cheaper plastic as an alternative to the relatively expensive Glass Additives is predicted to hamper the market growth.
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