Synopsis of Glass Additives Market:
Glass Additives are classified as those ingredients that can be added to the glass to change the properties of the finished product. Lead, Boron, lanthanum oxide, iron, calcium oxide, silica are few of the types of Glass Additives. Metal additives are used to enhance the conductivity of glass vessel thereby find a wide application scope in healthcare, pharmaceutical, and chemicals industries. They possess excellent properties such as high conductivity, superior strength, and high refractive index which make them suitable for utilization in various applications such as packaging, automotive & transportation, electronics & appliances, and building & construction.
As per our Analysis, some of the prominent market factors and trends identified in the Glass Additives Market include increasing consumption of glass as a packaging material, technological advancement, and rapid urbanization. The Glass Additives Market is predicted to grow at a moderate CAGR over the estimated period. Rising demand from the growing building & construction industry is estimated to fuel the demand for Glass Additives Market. Moreover, growing investment in the packaging industry as well as continuous expansion of building & construction industry in the emerging economies is predicted to drive the growth of the market. Furthermore, increasing disposable income along with the rising automotive production and sales across the globe is estimated to fuel the demand for Glass Additives over the forecast period. Furthermore, technological advancement such as using lanthanum oxide as an additive to improve the durability and refractive index of glass materials have impelled the growth of the market. However, factors such as higher adoption rate of plastics as cheaper alternative to glass and relatively low costs of plastic additives are expected to hinder the growth of the market over the assessment period, 2020 to 2030.
Global Glass Additives Market Share by Application (2019), (%): Regional Analysis:
The Global Glass Additives Market is segmented into five regions namely – Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is expected to grow at the fastest CAGR during the assessment period on account of rising demand from various applications such as building & construction, automotive, and packaging among others. The demand for Glass Additives is expected to surge in emerging economies such as India, China, Malaysia, and Vietnam on account of rising automobile production and sales along with growing number of personal vehicles. Moreover, the rising number of working professionals coupled with increasing demand for ready to eat items has led to increase in the consumption of packaged foods, which is further expected to raise the demand for durable Glass Additives products in packaging application. In addition, relatively inexpensive cost of labor, ease in availability of raw material, and employment of new development strategies to achieve the demand for Glass Additives on account of their rising applications are the important factors for the regional market growth.
Europe has emerged as the largest market for Glass Additives followed by Asia Pacific and North America. North American market is estimated to witness a significant growth due to the recovery of industrial sector combined with escalating investments to revitalize building & construction industry. North American countries such as the U.S, and Canada are among the major contributors in the regional Glass Additives Market growth and are estimated to see a significant regional growth in the upcoming years due to the presence of electronics and packaging industries. European, countries such as Russia, Spain, Germany, Italy, France, and the U.K have emerged as prominent consumer markets due to established end use industries and rising expenditure on R&D and innovation. Latin American countries such as Colombia, Brazil, Peru, and Argentina are also estimated to witness average growth with the involvement of new business models. Furthermore, the Middle Eastern & African region is estimated to witness a steady growth over the assessment period. Increasing investment in residential, institutional as well as commercial construction sector in Turkey, Qatar, Saudi Arabia and the United Arab Emirates (UAE) has led to increase the consumption of aesthetic glass which in turn is estimated to positively influence industry growth over the forecast period.
The Global Glass Additives Market is fragmented 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. On the basis of application, the market is categorized into building & construction, packaging, automotive & transportation, electronics & appliances, and others. On the basis of regions, Glass Additives Market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Some of the prominent players operating in the Global Glass Additives Market are 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.
The report covers brief analysis of geographical regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa.
|Market Size||2030 : Significant Value|
|CAGR||2020-2030 : 4.20% CAGR|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Applications, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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.)|
|Key Market Opportunities||
|Key Market Drivers||
Glass additives are substances added to glass products to enhance certain properties of the finished products.
The growing demand from the packaging industry and the construction industry is the major driver for the global glass additives market.
The low costs of plastic additives are the key restraint on the global glass additives market.
Europe is the largest regional market for glass additives, with Asia Pacific expected to exhibit the highest growth rate over the forecast period.
Leading players in the glass additives market include Potters Industries LLC, Lynas Corporation Ltd., DuPont, Schott AG, Torrecid Group, Ardagh Group, and Hammond Group Inc.