Overview:
Glass Additives are used to change the properties of end-products. The Glass Additives Market is expecting a robust growth during the forecast period (2016-2023), reveals Market Research Future (MRFR) in an elaborate study. Their report encompasses various triggers that are setting the market on the right track of growth. Industries such as healthcare, pharmaceutical and chemical industries where Glass Additives have percolated quite easily owing to their ability to enhance glass properties such as conductivity, strength, and refractive index. Furthermore, the Glass Additives Market is gaining traction from sectors such as packaging, automotive & transportation, electronics & appliances, and building & construction. Technological advancements are also substantially impacting various additives and improving durability and refractive index of the end-product in the process.
However, plastics are fast gaining grounds as a cheaper alternative, and its additives are also relatively less expensive which can put brakes on the Glass Additives Market growth during the forecast period.
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Industry Trend:
Researchers from the North Carolina State University’s Department of Materials Science and Engineering have developed a method to create metallic glass using additive manufacturing. The process involves the application of laser to a layer of metal powder and melting it to a layer of 20 microns thick. It can be manufactured in different geometric shapes which can be advantageous for industries.
Competitive Analysis:
The Glass Additives Market has its growth depending on strategies such as merger, acquisition, joint ventures, and others. For instance, Namibia Rare Earths Inc. acquired Gecko Namibia (Pty) Ltd.’s critical metal properties recently. Torrecid Group and Mefrit have joined hands to expand their portfolio.
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.), and others.
Segmentation:
The Global Glass Additives Market can be segmented by Product and Application.
Based on the Product, the Glass Additives Market can be segmented into metal oxide, nanoparticles, and polymers & rare earth metals.
Application-wise, the Glass Additives Market includes building & construction, packaging, automotive & transportation, electronics & appliances, and others.
Regional Analysis:
Zone-wise, the Glass Additives Market can be segmented into Asia Pacific (APAC), Europe, Latin America (LATAM), North America, and the Middle East & Africa (MEA).
Europe has the largest Glass Additives Market with the APAC and North America following its lead. Research & development (R & D) and innovations are assisting the region in staying ahead of its global peers. Russia, Spain, Germany, Italy, France, and the U.K. are prominent market players with several end-user industries investing handsomely in the Glass Additives Market.
North America’s building & construction industry is recovering rapidly and is substantially boosting the Glass Additives Market. Packaging and electronics industries in the U.S. and Canada can be deemed as major contributors.
The APAC is showing tremendous promise, and it is projected to grow with the fastest CAGR during the forecast period. Booming economies in India, China, Malaysia, and Vietnam can share the credits for such a momentous feat. Automobile production and sales, along with, growing demands from the packaging industry for durable Glass Additives. Furthermore, the availability of raw material and strategical improvisations have made the region lucrative for investors.
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About Market Research Future:
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