(MENAFNEditorial) Glass Additives Market size should grow significantly during the forecast timeframe owing to its extensive application scope in food & beverage industry as packaging material for soft drinks and edible semifluid. Global bottle packaging industry should generate revenue surpassing USD 100 billion by 2024. Rise in product demand with enhanced properties in automotive, construction and electronics industry should trigger product demand.
Glass are brittle in nature demanding manipulation of certain properties to suit various industrial application. Additives act as facilitators to refine inherent properties and enhance quality of the final product. Production technology innovations such as using inorganic compound called lanthanum oxide as add-on to boost strength and refractive index should further incite demand in glass additives market. These additives are also used for customizing lamps, tableware and eye wear.
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Strong demand for durable products with enhanced properties like UV protection, anti-glare and water repellency along with refined opaqueness, resistance, color and refractive index should accelerate demand for glass additives market. These include metal alloys, nanoparticles, rare earth metals and polymers. Various other applications include glass transition, silicate glass manufacturing, network glasses, aerodynamic levitation, 3D printing and color strengthening.
Glass additives market size from pharmaceutical application should witness significant gains by 2024 owing to demand surge for enhanced additive compounds offering strength and sustainability against reactive substances. U.S. pharmaceutical industry spending surpassed USD 50 million in 2016 which should increase demand for safer packaging options. These packaging options offer uniform surface chemistry, prevents crack, reduce particulate formation and enables smoother line operations.
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Metal oxide glass additives market size should offer high industry growth during forecast timeframe due to its color improving property. It also enhances thermal and electrical conductivity which should find wide application scope in construction sector. China construction industry size should exceed USD 1.5 trillion by 2024 procreating product demand. Commonly used metal oxides are cobalt oxide, ferric oxide and manganese oxide.
Nanoparticle glass additives market size should witness strong gains during forecast timeframe owing to its application scope as coatings for window panels, laptops, mobile phones and televisions. Rising demand for scratchproof panels should spur higher product demand. These products are also used in reducing air bubbles and offers low resistance during sea bottom drilling which should further catalyze demand.
Glass additives market size from packaging application should grow significantly owing to rising popularity among consumers for specialized product offering scratch resistance, anti-glare, UV protection and durability. Growing population along with busy work schedule imparts higher demand for packaged food & beverage implying growth in product demand.
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Europe glass additives market size led by Germany, UK and France should grow significantly during forecast timeframe owing to strong regional demand from automotive, construction, food & beverage and healthcare industry. Strong production base in the region with the presence of major industry players should impel higher growth.
U.S. glass additives market size should grow at high rates during forecast timeframe due to rising consumption levels in healthcare, pharmaceutical and automobile sectors. Developing production technologies along with growing demand for electronic & electrical devices should propel regional product demand.
Global glass additives market share is moderately fragmented including industry participants like DuPont, SCHOTT, Gillinder Glass, Nanobase and BASF SE. Companies are concentrating on customized product development for sustainability in market. They also are adopting strategies like mergers, partnerships and acquisition to expand their forward and backward integration in the value chain.
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