ID: MRFR/CnM/7301-CR | February 2020 | Region: Global | 160 pages
Glass-Ceramics Market was valued at USD 779,413.3 Thousand in 2018 and is projected to register a CAGR of 5.86% to reach USD 779.4 Million by the end of 2028. Glass-ceramics, as the name suggests, combine the properties of both glass and polycrystalline ceramics. They are polycrystalline solid materials prepared by controlled crystallization of glass.
The factors driving the growth of the glass-ceramics market are increasing the application of glass-ceramics in the manufacturing household utensils and growing demand for the product in the building & construction industry. Furthermore, the ongoing research & development and clinical trials for incorporating glass-ceramics in the medical industry are expected to create lucrative growth opportunities for players operating in the glass-ceramics market during the forecast period.
However, the high cost of energy due to the high heating requirements during the glass-ceramics manufacturing process is projected to restrain the growth of the glass-ceramics market during the forecast period.
Glass-ceramics are nowadays increasingly used in the manufacturing of household utensils such as cooktops, stoves, microwave and fireplace doors, cookware, and bakeware, among others. The properties of glass-ceramics such as high mechanical strength, sustainability in changing temperatures, low heat conduction coefficient (stays cool outside the cooking area), and excellent aesthetic appeal have increased their application in the household utensils segment. Some of the renowned brands of glass-ceramics are Pyroceram (cookware), Ceran (cooktops), Eurokera (cooktops, stoves, and fireplaces), Zerodur (telescope mirrors), Macor (machinable glass-ceramics for industrial applications), Kanger (glass-ceramic for cooktop, stoves, microwaves, and fireplace doors), FireLite and NeoCeram (ceramic-glass for architectural and high-temperature applications), and Keralite (a specialty glass-ceramic for fire-rated applications). The increasing per-capita income, consumer purchasing power, changing lifestyles, and growing awareness are the major factors increasing the adoption of glass-ceramics-based household utensils across the globe. Thus, the increasing application of glass-ceramics in the manufacturing of utensils and their growing demand are expected to fuel the growth of the global market during the assessment period.
Global Glass-Ceramics Market, by Composition, 2018
Sources: MRFR Analysis
The Global Glass-Ceramics Market has been segmented by Composition, Application, and Region.
Based on composition, the global market has been divided into LAS, ZAS, MAS, and others. The LAS system segment accounted for the largest share of 50.9% in 2018 due to its widespread use on account of its outstanding set of properties.
By application, the global market has been divided into household appliances, building & construction, medical, and others. The household appliances segment accounted for the largest share in 2018 due to the growing demand for glass-ceramics-based kitchen utensils such as cooktops; induction stoves; and cookware, bakeware, and storage containers due to its excellent aesthetic appeal, high thermal stability, low heat conduction coefficient, high strength, machinability, and ease in cleaning characteristics. The segment is expected to register the highest CAGR of over 5% during the forecast period.
Global Glass-Ceramics Market Share, by Region, 2018 (%)
Sources: MRFR Analysis
The Global Glass-Ceramics Market has been divided into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Asia-Pacific dominated the global glass-ceramics market in 2018. The countries such as China, India, and Japan are witnessing increasing demand for innovative household appliances and construction products owing to its high population, rising per-capita income, increasing consumer spending ability, and rapid industrialization & urbanization. The regional market is likely to register a CAGR of over 6.5% during the forecast period.
Europe held the second-largest market share of the global glass-ceramics market in the year 2018. The regional market was valued at USD 179,324.1 thousand in 2018. Germany held a largest market share of the regional market due to the varying consumer needs in the country coupled with large base of glass-ceramics manufacturers, distributors, and retailers.
Some of the key players operating in the Global Glass-Ceramics Market are SCHOTT AG (Germany), EuroKera (France), Nippon Electric Glass Co., Ltd. (Japan), Corning Incorporated (US), ILVA Glass SpA (Italy), Ohara Corporation (Japan), Kanger Holdings (China), Kedi Glass-Ceramic Industry Co., Ltd (China), Elan Technology (US), Huzhou Tahsiang Glass Products Co., Ltd (China), Jingniu Glass Ceramics Group Co., Ltd (China), and Far East Opto-Electronics Co., Ltd (China).
Global Glass-Ceramics Market, by Composition
Global Glass-Ceramics Market, by Application
Global Glass-Ceramics Market, By Region
Available Additional Customizations
|Market Size||2028: USD 779.4 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Composition, Application, and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||SCHOTT AG (Germany), EuroKera (France), Nippon Electric Glass Co., Ltd. (Japan), Corning Incorporated (US), ILVA Glass SpA (Italy), Ohara Corporation (Japan), Kanger Holdings (China), Kedi Glass-Ceramic Industry Co., Ltd (China), Elan Technology (US), Huzhou Tahsiang Glass Products Co., Ltd (China), Jingniu Glass Ceramics Group Co., Ltd (China), and Far East Opto-Electronics Co., Ltd (China)|
|Key Market Opportunities||The massive demand for glass-ceramics from the manufacturing of household utensils is the primary growth inducer of the market.|
|Key Market Drivers||The household appliances segment is slated to mature as the fastest-growing segment.|
Frequently Asked Questions (FAQ) :
The global glass ceramics market is touted to record a substantial market valuation of USD 1.3 million by 2028.
The global glass ceramics market is projected to register a moderate 5.85% CAGR in the forecast period.
The massive demand for glass-ceramics from the manufacturing of household utensils is the primary growth inducer of the market.
The LAS segment is expected to observe substantial demand over the review period.
The APAC is poised to secure the highest CAGR.
The household appliances segment is slated to mature as the fastest-growing segment.