The technical glass industry has a net worth of more than 25 Billion US dollars. The sector is looking forward to exponential growth which is the results of the extensive use of technical glass in consumer electronics. On top of that, the popularity of green building technologies coupled with regulations initiated and enforced by world governments related to the development of eco-friendly buildings and sustainable upgrades of existing infrastructure created a sudden surge in demand for technical glass products from all over the globe.
A brief outlook of technical glass products and their overall applications:
Borosilicate finds new applications – When it comes to global market values, borosilicate or alkali-lead silicate glass products are holding the third position and has captured around 34 % of total market share. It is often looked upon as a cost-efficient raw material that has superior attributes that are at par with international manufacturing standards.
It also finds extensive use in the fields of technical as well as pharmaceutical sectors which will further help it to boost its revenue by more than 8 percent by 2019 end.
Consumer electronics and technical glass products – Consumer electronics lead the pack with more than 40 percent of the market share at total revenue in the market. It is one of the biggest consumers of raw technical glass products as the base material for the production of display devices such as:
- OLED &
It further enabled the sector to be one of the top consumers of technical glass products. On the other hand, research laboratories and pharmaceutical companies also consume huge amounts of technical glass which is proven time and again through several independent market surveys. Technical glass also finds extensive application in the architecture sector as well whose growth has recently surged to more than 9 percent and is expected to grow on an exponential rate post-2019.
Thin technical glass product sales are stepping up – Thin or flat technical glass products are considered as hot cake in the technical glass industry. It is the most popular product that is being ordered at a never-ending rate by both small and big names in the pharmaceutical industry.
On top of that, technical glass is the go-to material when it comes to the manufacturing sector for modern-day solar panels and touch panels. In terms of sales, technical glass powder, rods and tubes follow closely to that of thin glass products.
Reasons behind the growth of the technical glass products market:
- Technical glass products fabricators and suppliers are adopting different strategies such as diversifying the products and services they offer along with the locations where they use.
- Another major contributor that proved vital for the sudden growth of the technical glass product industry is competitive pricing which is the result of reduced manufacturing costs.
Market leaders and start-ups are partnering up with suppliers and fabricators of technical glass products. Another contributing factor behind the growth of the industry is a strategic expansion which has been possible only when manufacturers started focussing on satiating the needs of regions with high growth potential. That being said, it is clear that the technical glass product industry is an emerging industry which will continue to grow with the advent of new technologies and creative ideas.