The global glass-ceramics market is estimated to grow from USD 1.4 billion in 2021 to USD 1.8 billion by 2026, at a CAGR of 5.8% during the forecast period 2021-2026. The North America glass ceramics market is expected to grow from USD 356.9 million in 2021 to USD 474.9 million by 2026, at a CAGR of 5.9% during the forecast period 2021-2026. The glass ceramics market in Asia Pacific is expected to grow from USD 560.0 million in 2021 to USD 783.7 million by 2026, at a CAGR of 7.0% during the forecast period 2021-2026.
Glass ceramics are witnessing substantial growth in electronics, optical materials, dentistry, and thermomechanical environments. Glass ceramics are high-tech and application-specific, offering many advantages over traditional powder-processed ceramics: reproducible microstructure, homogeneity, and very low or zero porosity.
In medicine and dentistry, glass ceramics are mainly used for implanting bone and dental prostheses. In electronics, glass ceramics have a variety of uses in microelectronic packaging and electronic components. Its superior microstructure, dimensional stability and chemical composition variability make it ideal for electronics. Its unique properties have wide applicability. Stringent regulations implemented by regulatory authorities ensure reduction in harmful emissions from manufacturing units, further expanding the market size during the forecast period.
The glass-ceramic market size is mainly attributed to the technological advancements in the region. China dominates the glass-ceramics market owing to the growth in power generation, semiconductors and electronics, infrastructure development, and chemical processing industries.
New industry players and enhanced distribution network of international players will further fuel the market growth during the forecast period with advanced ceramics industry supporting aerospace, automotive, communication computer, medical and military services.
The growth rate of global manufacturing industry in 2020 is severely affected by the epidemic and the new crown pneumonia pandemic has now narrowed the progress of the economies across the regions and governments across the world are taking necessary measures to curb the slowdown.
The competitive landscape of the glass-ceramic industry has been moderately consolidated, with a number of large players dominating the market. Prominent companies include Schott, Corning, Nippon Electric Glass, Asahi Glass, Ohara Inc., Zeiss, 3M, Eurokera, Ivoclar Vivadent AG, Kyrocera, and PPG U.S., among others.
Post time: Nov-17-2021