Pune, India -- (SBWIRE) -- 05/10/2018 -- Glass Additive Market – Overview

Glass Additive exhibit excellent properties and are predominantly utilized in various end use application such as packaging, electronics & appliances, automotive & transportation, building & construction, and others. The market is predicted to witness healthy growth owing to their utilization in numerous end use industries specifically in packaging, automotive, and building & construction industry. On the basis of the end use industry segment, automotive & transportation is expected to register strong growth followed by building & construction due to rising consumer's disposable income combined with expanding packaging industry in developing countries worldwide. Furthermore, growing automotive manufacturing base in emerging economies along with burgeoning need for durable material is predicted to fuel the growth of the market over the forecast period.

Geographically, Europe accounted for the leading market share for glass additive in 2016, followed by Asia Pacific which is further trailed by North America. The North American Glass Additive Market is expected to witness steady growth during the forecast period on account of substantial growth of household appliances and packaging sector in this region. In North America, the market is further classified into Canada and the U.S., out of these the U.S. is estimated to hold major regional market share of Glass Additive due to significant presence of prominent producers in this region.

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Asia Pacific is predicted to witness fastest growth over the assessment period in glass additive market during 2017 to 2023. The demand for Glass Additive is predicted to raise in various economies of Asia Pacific such as Taiwan, South Korea, the Philippines, Japan, India, and China on account of rising population along with shifting of production units for most of the significant market players in this region. In Europe, Glass Additive Market is estimated to register significant growth on account of shifting consumer preference towards the glass additive based products along with growing usage in various end use industries specifically in Germany, Spain, UK, and Russia. Furthermore, numerous countries of Latin America and the Middle East & Africa are estimated to witness moderate growth in glass additive due to increasing per capita disposable income coupled with sales of Glass Additive based product specifically in Argentina, Venezuela, Mexico and Brazil combined with increasing commercial, institutional, and residential construction activities specifically in Oman, Qatar, Saudi Arabia, Kuwait, and the UAE.

Industry/ Innovation/ Related News:

August 2016- Owens Corning announced to invest around USD 110 million to expand their production capacity at its composites in India. The new operation is predicted to start operation in early 2018. This expansion will help company to meet the increasing demand for glass fiber across the globe.

November 2017- SABIC, one of the leading chemical company announced to launch a new high performance compound named as THERMOCOMP to meet the requirement for large additive manufacturing. This product launch will strengthen company's position across the globe.

Competitive Landscape

The Glass Additive Report has analysed the level of competition among the key operating players in glass additive market as well as sector growth and market scenario. The global glass additive market composed of large number of suppliers operating in the market which includes large scale and medium scale manufacturers. The noticeable manufacturers of glass additive and medium level producers which has strong hold in the market have shifted their focus towards growth association specifically by Asia Pacific as small level and medium level suppliers belongs to this region specifically from South Korea, Indonesia, India, Bangladesh, China, Thailand, the Philippines, Taiwan, Singapore, Malaysia, Australia, and Japan. Furthermore, the key manufacturers of glass additive are observed to follow various strategic plans to improve their product portfolio such as distribution agreements, joint ventures, product launches, strategic acquisition and mergers, and exclusive agreements. Various prominent producers in this market are estimated to expand their production capacity of glass additive to meet the growing demand for Glass Additive Worldwide.

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