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Technical Glass Market

Technical Glass Market

Global Industry Analysis (2018 - 2021), Growth Trends, and Market Forecast (2022 - 2029)

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Industry: Chemicals & Materials | Author Name: Harshad


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Technical Glass Market: Overview

The market size for technical glass was USD 24.3 billion in 2021, projected to grow at a CAGR of 6.2 percent during the forecast period. In various end-use sectors, technical glass is a sort of designed glass utilized in a wide range of architectural and structural applications. In the electronics industry, technical glass has become more popular as a stand-alone item or combined with other engineered glass. Due to the numerous technological uses, they can be applied and mostly because of the appealing chemistry they display; their use has increased. Excellent chemical resistance, mechanical strength, thermal stability, and strong optical transmission are a few significant characteristics that make this type of tailored glass suited for high-technology applications. The use of technical glass may be important in industries like laboratories, pharmaceuticals, lighting, and household and commercial appliances.

The increased use of technical glass in the electronics industry, particularly in the production of consumer electronics, is propelling the market for technical glass. The demand for technical glass is increasing as more buildings are utilized in offices, retail, and institutional spaces, as well as other commercial spaces, are being built. For architects looking for fresh design concepts for canopy systems, curtain wall systems, and window systems, technical glass is becoming more and more appealing. The increasing acceptance of high-tech glass framing systems across the globe is driving the adoption of technological glass in the construction sector. The growing utilization of technical glass in the production of specialty glass, such as fire-rated glass, is a key factor driving the market.

The availability of reasonably priced technical glass-made items is another factor driving the commercialization of the global technical glass market. Since technical glass is primarily non-biodegradable, market participants' increased attempts to recycle it are also anticipated to impact demand dynamics significantly. The increased demand for recycled technical glass in furnace manufacturing is also encouraging for the global industry. Introducing advanced glass goods creatively combining form and function has opened up new, lucrative business opportunities.

Technical Glass Market: COVID-19 Impact

The expansion of the consumer electronics and construction industries is a primary driver of the growth of the worldwide technical glass market. However, the emergence of the COVID-19 issue has had the greatest negative impact on both of these industries' growth. Construction and the electronics industries have suspended operations as part of the state-wide shutdown to halt the spread of the coronavirus. As a result, the global market for technical glass has seen a drastic decline in demand. As a result of the industry's manufacturing sector's strict rules, the supply side is further disrupted.

Technical Glass Market: Drivers

Various End Use Applications of Technical Glass to Drive Market Growth

Technical glasses are used in end-use industries, such as lighting, electronics, household and commercial appliances, laboratories, and pharmaceuticals. Since the "electronic revolution" hit the industry, glass has been essential. The key end-use industries, accounting for over one-fourth of the market, are laboratories and pharmaceuticals, lighting, electronic devices, and household and commercial appliances.

The global technical glass market is expanding, and over the following years, it is anticipated to move into a phase of growth stabilization. Technical glass is renowned for its advantages over other materials for application in various end-use industries. Therefore, the key driver of global market growth is the rapid use of technical glass in end-use industries. The retail, institutional, and office sectors have seen a considerable increase in demand for technological glass structures that have been manufactured. As a result, manufacturers worldwide are developing goods with improved performance and versatility. As a result, the demand for specialized technical glass products, such as soda-lime glass and alkali-lead silicate technical glass, is increasing.

The technical glass market worldwide is entirely made up of electronic gadgets. The falling glass price will also help the electrical devices market expand. The segment is expected to expand at a significant CAGR in value during the projection period. Additionally, it is anticipated that these markets will account for around 53.9% of the total additional dollar opportunity generated by the technical glass market.

Recycling and Reuse Quality of Technical Glass Driving Market Growth

The production of technical glass requires much energy and results in non-biodegradable waste, which has a terrible effect on the environment. Glass recycling and reuse are essential. Technical glass recycling improves production efficiency and positively impacts the environment. For instance, over a tonne of non-renewable or renewable resources, including raw materials, are saved for every tonne of recycled glass material. In addition, recycled glass (cullet) makes the furnace-less corrosive, extending the furnace life. Additionally, glass recycling is a closed-loop operation with no by-products.

Technical Glass Market: Restraints

High Costs to Hamper Market Growth

With the high manufacturing cost compared to its counterparts, technical glass often has a high installation cost and requires frequent maintenance and care compared to others. Technical glass is recyclable, but still, the recycling process requires high investment and labor costs. Companies are still investing in the innovation and development of cost-efficient recycling processes that can retain all the properties of recycled glass. Efforts are also being made to reduce the overall costs of technical glass to increase its market.

Technical Glass Market: Segment Overview

Soda-Lime Glass to Dominate Market due to its Affordability

While soda-lime accounts for more than 35% of the market's revenue, alkali-lead silicate glass currently holds about a third of the market's value. The most affordable and favored raw material, soda-lime glass, is predicted to eventually lose market value share to the more widely used alkali-lead silicate glass due to the latter's superior qualities. It has been predicted that the borosilicate glass type will see the largest year-over-year sales growth in 2022, particularly for technical and pharmaceutical applications. Borosilicate glass type is another significant material sector.

With Increased Demand in Pharmaceutical Industry, Flat Glass Category Dominated Market

Flat glass has been the most popular technical glass type in terms of sales globally, particularly due to heavy usage by the pharmaceutical industry. It continues to be the largest shareholder by a form in the technical glass landscape, which can be attributed to the growing preference for flat glass in solar panels and touch panels. The following crucial form-based sales sectors are determined to be glass powder, tubes & rods. However, industry experts suggest that thin film crystalline glass will have a significant incremental market over the years. Manufacturers of thin glass will probably see many economic prospects as battery-powered solar panels and energy storage systems gain popularity.

Technical Glass Market: Regional Landscape

Asia Pacific to Dominate Market due to Growing Preference for Green Energy

Over the forecast period, it is anticipated that the Asia Pacific market will account for the largest revenue share. Sales of borosilicate and soda-lime glass, which collectively account for more than 70% of the market in the region, are currently seeing explosive growth in China, where they account for around 40% of the market value share. However, the established Chinese market is anticipated to experience a 10% yearly revenue growth in 2021, supported by a huge new potential. Following the region's opening to public, private, and international investment, China's importance on the world market has expanded quickly. Technical glass goods comprise about half of the worldwide technical glass market, and China is the industry's top producer.

Additionally, the region will need to develop new solar energy networks to adopt green energy and slow down the depletion of renewable resources. This will increase demand for technical glass in the market. In terms of value, China is predicted to expand and surpass the United States in the technical glass market. The remaining regions are anticipated to experience moderate to rapid growth.

According to reports, the technical glass industry in North America is expected to have promising growth opportunities soon. At the same time, MEA and Latin America continue to be the regions with the highest growth rates and lowest sales volumes for technical glass.

Global Technical Glass Market: Competitive Landscape

Corning Inc. announced a high-volume manufacturing facility for technical glass packaging for pharmaceuticals in April 2018. By the end of 2019, the facility is anticipated to be operating. Corning Inc. announced in 2017 that it would invest $500 million to build a manufacturing plant for Valor Technical Glass in New York, United States. In Rajasthan's Bhiwadi, Saint-Gobain Company launched a new manufacturing plant in October 2014 with a nearly 1,000 Ton glass per day capable of producing technical glass.

Few players in the Technical Glass Market include Schott AG, Corning Inc., TAIWAN GLASS IND. CORP., Heraeus Holding, Asahi Glass Co., Ltd., Nippon Sheet Glass Co., Ltd, Saint-Gobain, Flat Glass Group Co., Ltd., Borosil Glass Works Ltd., Allegion plc, Nippon Electric Glass Co., Ltd, Jhonson Matthey, Guardian Industries, Technical Glass & Aluminium Co. LLC, Xinyi Energy Holdings Limited, Nissink Business Glass BV, and Others.

Global Technical Glass Market is Segmented as Below:

By Material Type

  • Borosilicate Glass
  • Aluminosilicate Glass
  • Aluminoborosilicate Glass
  • Soda-Lime Glass
  • Alkali-lead Silicate Glass
  • Ceramic Glass

By Form

  • Flat Glass
  • Thin Glass
  • Tubes & Rods
  • Glass Powder
  • Hollow Glass

By End Use

  • Laboratories & Pharmaceuticals
  • Architectural Design
  • Electronic Devices
  • Lightening
  • Home & Commercial Appliances

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Russia
    • Rest of Europe
  • Asia Pacific
    • Japan
    • South Korea
    • India
    • China
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Elements Included In The Study: Global Technical Glass Market

  • Technical Glass Market by Product/Technology/Grade, Application/End-user, and Region
  • Executive Summary (Opportunity Analysis and Key Trends)
  • Historical Market Size and Estimates, Value and Volume, 2018 - 2021
  • Volume Consumption at Regional and Country Level, 2022 - 2029
  • Market Dynamics and Economic Overview
  • Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2022 - 2029
  • Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
  • Regional and Product/Grade/Application/End-user Price Trends Analysis
  • Value Chain and Five Force’s Analysis
  • Regional/Sub-region/Country Market Size and Trend Analysis
  • Company Market Share Analysis and Key Player Profiles

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  • The segmentation/company profiles/countries depicted above may vary in the actual report.

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