Valley Cottage, NY -- (SBWIRE) -- 06/12/2017 -- Market Overview
Glass is one of the most common containing material used in various industries, and advancements in the use of glass have provided considerable impetus on the importance of glass additives. The transparency of basic glass materials has led to the need for colouring them for the purpose of classification, which has influenced the demand for various glass additives. The rising need for coloured opaque glass that is thick, durable and has higher reactive stability will endure the demand for quality glass additive materials. The use of metal additives to improve the conductivity of glass vessels has also resulted a surge in demand for glass additives from healthcare, pharmaceuticals and chemicals industries. Moreover, technological developments such as using inorganic compound called lanthanum oxide as an additive that boosts strength and enhances refractive index of glass materials have incited the demand in the global market for glass additives.
Global Glass Additives Market: Drivers & Restraints
The prime factor driving the growth of the global glass additives market is the extensive use of glass in fibre optics, electronics, and consumer goods. As a result, the demand for additives that help differentiate and enhance the glass materials has bourgeoned. Besides this, the other key factors influencing the growth of the glass additives market include,
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The Influence of Nanoparticle Technology
The scientific developments in nanoparticle and chemical technologies has resulted in the higher adoption of nanoparticle additives that supplement the insulation factor of glass materials. Reduction of the glass bubbles to provide low resistance sea bottom drilling is one of the most recent example of the use of nanoparticles-based additive, which has fuelled the demand in the global market.
Rising Consumption of Glass as Packaging Material
Glass materials are extensively used in the food & beverages sector, and have been the most-preferred packaging material for soft drinks and edible semi-fluids. In pharmaceuticals industry as well, glass is perceived to be one of the most reliable type of packaging material. The demand for enhanced additive substances is expected to surge, owing to the need for upgrading the strength and the sustainability of glass against reactive substances.
The pervasive use of glass particles in electrical and electronic devices has increased the demand for additives that reinforce specific features into the glass material. However, the growth of the global market for glass additives is being limited, owing to the restraints such as,
Growing adoption of plastic as an inexpensive alternative to glass.
Relatively low costs of plastic additives.
Unavailability of rare earth metals which are used as crucial glass additive materials.
Glass Additives: Market Stratification
The global market for glass additives can be generally classified into the type of glass additives, which include metal alloys, nanoparticles, polymers and rare earth metals. Based on the application of glass additives, the market is primarily differentiated into silicate glass manufacturing, 3D printing, aerodynamic levitation, glass transition, and customisation of tableware, lamps and eye glasses, among others. Also, the market can be classified based upon the basic chemical elements used as glass additives, which include iron, manganese, sulphur, nickel, titanium, chromium, uranium and other rare earth metals.
Global Glass Additives Market: Regional Outlook
Among the key geographical regions in the world, the global market for glass additives is anticipating higher growth in the Asia Pacific region. The high manufacturing capacity of glass makes the APAC region lucrative for the growth of the glass additives market. North America is also expected to be a key leading region, owing to the consumption levels of glass in healthcare and pharmaceuticals sector. The electronics and automobile industry is Europe is also projected to boost the demand for glass additives that provide thermal and electrical insulation.
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Leading Companies in Global Glass Additives Market
The use of additives has helped glass manufacturers to put forth tough competition in the production businesses. Reduction of costs and energy efficiency derived from the use of glass additives will continue to encourage the expansion of the leading companies in the global glass additives market. BASF SE, DuPont, Torrecid Group, Bayer Material Science, Nanobase among others, are observed as the key players dominating the global market for glass additives.