The photosensitive glass market is heading toward growth expansion phase over the coming years. Advancement in the photolithography process to produce micro-circuits coupled with consumer preference for decorative material are the factors projected to boost the growth of the market. Consequently, the global market is anticipated to witness introduction of several manufacturers to explore the expanded growth
Seattle, WA -- (SBWIRE) -- 11/04/2019 -- Photosensitive glass is also known as photo-structurable glass or photo-machinable glass which belongs to lithium silicate family. Colored pictures can be produced by exposing this glass to ultraviolet light. The coloured images are formed in the photosensitive glass with the help of mask by microscopic metallic particles, when it is exposed to short wave radiations, such as UV light.
In terms of revenue, the global photosensitive glass market represents moderate numbers due to gradual development of applications in each industry. Globally, the market is at a nascent stage and is further expected to explore significant growth opportunities during the projected period. Some of the prominent factors driving the growth of the market include increase in product use in photolithography to produce various electronic and optoelectronic devices.
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Superior physical and chemical properties of photosensitive glass fuel its use for aesthetic purposes, which is expected to propel the market growth during the forecast period. However, limited presence of product manufacturers across the globe restrains the growth of the market. Furthermore, high price of photosensitive glass is expected to restrain the market growth.
The global photosensitive glass market is still at a nascent stage and is expected to explore considerable growth opportunities during the assessment period (2017-2025). Photosensitive glass is lithium silicate family glass, which is used for decorative purpose in residential application. It is used for decorations owing to its attractive appearance and unique property to capture image. Hence, gradual rise in penetration of photosensitive glass is considered as a key growth factor.
Construction industry is also emerging as a promising consumer of this glass due to its unique appearance. Photosensitive glass is used in ornamental tiles, wall & partition beautification, and in large windowpanes in architectural applications. This in turn drives the growth of the market. Furthermore, developing use of photosensitive glass to produce micro circuits through photosensitive glass in electronic industry also boosts the market growth. Driven by these factors, growth of this market is restrained by high price of photosensitive glass linked with limited presence of photosensitive glass manufacturers. The global photosensitive glass market is expected to witness lucrative growth opportunities due to large-scale usage of the glass in various end use industries, such as automotive and electronics.
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The major key players operating in the photosensitive glass market include Corning Incorporated, Gaffer Glass USA, Schott AG, Hoya Corporation, and IPG Photonics Corporation.
The photosensitive glass market is segmented based on application and region. Based on application, the global market is segmented into construction, ornaments, decorative, electronics, and automotive. Based on region, the global market is analysed across North America, Europe, Asia-Pacific, and LAMEA.
North America is the most promising regional market across the globe. The region accounted for largest market share due to presence of leading photosensitive glass manufacturers including Gaffer Glass USA, Corning Incorporated, and IPG Photonics Corporation. On the other hand, Asia-Pacific anticipated to exhibit promising growth due to the trend for micro-circuits and consistently developing photolithography process. Countries, such as India and China are anticipated to offer numerous growth opportunities owing to established construction industry.
Based on application, the decorative application segment dominated the market in 2017, owing to unique appearance and property to capture colourful images. This in turn increased the adoption of photosensitive glass decorative applications in the household industry.
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