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.
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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.
Competitive Analysis:
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.
Market Segmentation:
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. Nanoparticle’s 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 windowpanes for mobile
phones, automobiles, laptops, and other electronic devices is predicted to
surge the market growth. 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.
Regional Analysis:
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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