SAN FRANCISCO, U.S., July 28, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Glass Ceramics Market - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global glass ceramics market was valued at approximately USD 1460 million in 2022. The market is expected to grow above a CAGR of 6.51% and is anticipated to reach over USD 2410 million by 2030.”
Glass Ceramics Market Overview:
Glass ceramics are polycrystalline substances that were initially developed at the Corning Glass Works, which is owned by Corning Incorporated and specializes in ceramics, glass, and other related substances. Glass ceramics exhibit polycrystalline properties in addition to those of the primary glass material. The primary distinction between ordinary glasses and glass ceramics is that the latter are typically 95-98 percent crystalline by volume. In a minor percentage, they are vitreous. Crystals in glass ceramics typically have a size uniformity of less than 1m.
In addition, because the granules in glass ceramics are crystalline, they are not transparent, which is the characteristic most commonly associated with glass. Glass ceramics are distinguished by their high impact resistance and strength, diverse optical properties, excellent thermal shock resistance, and low thermal expansion coefficient. Similar to the manufacturing of glass components, glass ceramics require devitrification or heat treatment to transform them into crystalline glass ceramic material.
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Key Insights from Primary Research
- As per the analysis, the glass ceramics market share is likely to grow above a CAGR of around 6.51% between 2023 and 2030.
- The Glass Ceramics market size was worth around USD 1460 million in 2022 and is estimated to hit approximately USD 2410 million by 2030. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
- The glass ceramics market is projected to grow at a significant rate due to the growing application in home development projects
- Based on composition segmentation, lithium-aluminum-silicon oxides was predicted to show maximum market share in the year 2022
- Based on application segmentation, building & construction was the leading application in 2022
- On the basis of region, Asia-Pacific was the leading revenue generator in 2022
Competitive Players:
The report contains qualitative and quantitative research on the global glass ceramics market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global glass ceramics market include;
- Ceradyne Inc. (3M Company)
- Schott AG
- CoorsTek Inc.
- Corning Incorporated
- Ferro Corporation
- Saint-Gobain
- Johnson Matthey
- AGC Inc.
- Morgan Advanced Materials
- Hoya Corporation
- Murata Manufacturing Co. Ltd.
- Ohara Corporation
- Rauschert GmbH
- Nippon Electric Glass Co. Ltd.
- NEG Glass Corporation
- TAM Ceramics
- Cilas
- Iwatani Corporation
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Glass Ceramics Market: Growth Drivers & Restraints
- Growing applications in residential construction projects will drive market growth
The global glass ceramics market is anticipated to expand due to the increasing application and use of glass ceramics in residential construction projects. These polycrystalline materials are utilized in the manufacture of various cooktops as well as bakeware and cookware. With rising disposable income and increasing migration to urban cities or adoption of the modern lifestyle in rural residences, there has been a significant increase in people's spending capacity, particularly for home or kitchen renovation. For example, glass-ceramic cooktops have greater cooking capacity than electric coils. In addition, they have a low profile and streamlined appearance that enhances their physical appearance.
- High production costs will hinder the market's growth
Due to the high cost of glass ceramics production, the glass ceramics industry is anticipated to experience moderate growth. The extremely complex manufacturing procedure increases the total cost of producing glass ceramics. In addition, high-temperature procedures and controlled crystallization make the production process extremely resource-intensive, as they require the use of a number of essential resources. Given the greater quantity of energy required, the production of glass ceramics has a significant impact on the environment.
Glass Ceramics Market: Segmentation Analysis
The global glass ceramics market is segmented based on application, composition, and region.
By Application
- Optical
- Building & Construction
- Aerospace
- Healthcare
- Electrical & Electronics
- Others
Based on application, the global market segments are optical, building & construction, aerospace, healthcare, electrical & electronics, and others. The highest growth is expected to be observed in the building & construction sector due to the extensive application of glass ceramic-based products in modern homes.
By Composition
- Magnesium-Aluminum-Silicon Oxides
- Zinc-Aluminum-Silicon Oxides
- Lithium-Aluminum-Silicate
- Others
Based on composite, the glass ceramics industry is divided into magnesium-aluminum-silicon oxides, zinc-aluminum-silicon oxides, lithium-aluminum-silicon oxides, and others. In 2022, lithium-aluminum-silicon (LAS) oxides demonstrated the highest growth rate. It held a market share of over 51.21%.
Regional Overview:
- Asia-Pacific will generate the most revenue over the forecast period
Asia-Pacific is anticipated to have the highest CAGR for the global glass ceramics market, driven by the presence of an extensive network of glass ceramic production facilities. China and India have robust glass and derived-products manufacturing lines due to the government's efforts to increase regional revenue and the availability of qualified labour at competitive rates. The anticipated CAGR during the forecast period is approximately 7.29%. In addition to the increased export rate of glass ceramic, the countries have a substantial domestic demand for these products, primarily due to the expansion of the construction and building sector and the electronic industry. The electronic information industry in China is worth over 112 billion dollars.
By Region
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- GCC
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 1460 Million |
| Market Forecast in 2030 | USD 2410 Million |
| Growth Rate | CAGR of 6.51% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Ceradyne Inc. (3M Company), Schott AG, CoorsTek Inc., Corning Incorporated, Ferro Corporation, Saint-Gobain, Johnson Matthey, AGC Inc., Morgan Advanced Materials, Hoya Corporation, Murata Manufacturing Co. Ltd., Ohara Corporation, Rauschert GmbH, Nippon Electric Glass Co. Ltd., NEG Glass Corporation, TAM Ceramics, Cilas, Iwatani Corporation, and others. |
| Segments Covered | By Application, By Composition, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. |
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Recent Industry Developments:
- In 2022, the National Association of Realtors conducted a survey on home renovation projects during the pandemic. The result concluded that nearly 25% of the people who undertook the kitchen renovation project wanted to do it to add more features and improve living conditions. 94% of the respondents claimed that they wanted to spend more time in their homes after renovation.
Key questions answered in this report:
- What is the market size and growth rate forecast for Glass Ceramics industry?
- What are the main driving factors propelling the Glass Ceramics Market forward?
- What are the leading companies in the Glass Ceramics Industry?
- What segments does the Glass Ceramics Market cover?
- How can I receive a free copy of the Glass Ceramics Market sample report and company profiles?
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What Reports Provides:
- Full in-depth analysis of the parent market
- Important changes in market dynamics
- Segmentation details of the market
- Former, on-going, and projected market analysis in terms of volume and value
- Assessment of niche industry developments
- Market share analysis
- Key strategies of major players
- Emerging segments and regional markets
- Testimonials to companies in order to fortify their foothold in the market
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