Rising consumer preference for glass materials in applications including pharmaceutical, food and beverage packaging is expected to drive the glass additives market according to a new report released by Future Market Insights.
Nanoparticles, metal alloys, polymers are some types of glass additives. The applications of glass additives include glass transition, silicate glass manufacturing, aerodynamic levitation, network glasses, 3D printing, colour strengthening and others. Glass additives are also used for customisation of glass for different applications including tableware, lamps, and eye glasses among others. The basic chemical elements used as glass additives include iron, sulphur, manganese, chromium, nickel, titanium, uranium and other rare earth metals. Metal additives are specially used to change the colour and conductivity of glass for specific applications.
This latest report indicates that the coating industry is expected to drive the glass additive market. However, increasing popularity of plastics in different applications due to low cost, light-weight and reduced space consumption would be an inhibiting factor in the glass additives market growth. Plastics are replacing glass based materials in various applications including food packaging, automotive, electrical & electronic materials among others.
Rare earth metals are the major types of glass additives and availability of these metals is scarce due to other major applications in various industries. On the other hand, technological advances in the field of nanotechnology and chemistry are expected to provide immense opportunities for the players in the glass additives market in the near future.
The report says that Asia Pacific was the largest consumer of glass additives owing to major glass manufacturing plants are placed in this region. Growing demand for modified glass in healthcare and beverage industry is also expected to drive the glass additive market.
Asia Pacific was followed by North America in terms of consumption owing to high use in beverage industry. Healthcare industry in North America has stringent regulations of sterility that are expected to boost the market for derived glass, which in turn is also expected to drive the market.
Electrical and electronics industry is expected to drive the market in Europe as the government in this region compels the industries to insulate the infrastructure and glass is expected to be cheap and readily available insulating material. By addition of glass additives, it improves the heat insulation property of glass and can be used for thermal and electrical insulation.
Key players in this market include Du Pont, BASAF SE, Torrecid Group, Nanobase, Bayer Material Science among others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.
More information is available from the Future Market Insights website.