Glass-ceramics are materials created from the mix of glass and ceramic and are 95%-98% crystalline by mass. They are characterized by their high strength, low thermal co-efficient, and resistance to thermal shock. The global glass-ceramics market report by Market Research Future (MRFR) delves into the types of products made from the material and its potential in more applications for the period of 2023 to 2030 (forecast period).

Market Scope

The global Glass-Ceramics Market Size is projected to balloon to USD 779.4 million by 2030. It was valued at USD 779,413.3 thousand in 2018. It is predicted to reach its valuation benchmark by exhibiting a CAGR of 5.86% during the forecast period.

Huge demand for the product in the building & construction industry and manufacture of household items are major drivers of the market. Manufacture of cookware, bakeware, stoves, cooktops, and microwave and fireplace doors is likely to drive up the demand for glass-ceramics. The rise in per capita income levels of consumers, awareness of different materials, and change in lifestyles are other factors which can positively impact the market. Manufacture of antennas in Wi-Fi routers as well as the integration of glass-ceramics with copper to increase its sensitivity to radiofrequencies can bode well for the market.

Continuous investments in research and development and ongoing clinic trials for its application in the medical sector are likely to create opportunities in the global glass-ceramics market.

But the huge consumption of energy during its production can hamper its market growth.

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Segmentation

The global glass-ceramics market has been segmented by composition and application.

Based on composition, the global market has been divided into LAS, ZAS, MAS, and others. The LAS composition segment accounted for the largest share of 50.9% in 2018 due to its widespread use. The transparency and low thermal expansion properties of lithium-aluminum-silicon (LAS) systems can bode well for the segment.

By application, the global market has been divided into household appliances, building & construction, medical, and others. The household appliances segment accounted for the largest share in 2018 due to the growing demand for glass-ceramics-based kitchen utensils such as induction stoves, cooktops, cookware, bakeware, and storage containers. The segment is expected to register the highest CAGR of over 5% during the forecast period. This can be attributed to its excellent aesthetic appeal, low heat conduction coefficient, high strength, and ease in cleaning properties.

Regional Analysis

The global Glass-Ceramics Market Share by Company, based on region, is divided into the Latin America, Europe, Asia Pacific (APAC), North America, and the Middle East and Africa (MEA).

APAC accounted for 38.7% market share in 2018. Rapid industrialization and urbanization, rise in spending power, and demand for innovative appliances across India, China, and Japan are major drivers of the global glass-ceramics market in this region. It can register 6.5% CAGR over the forecast period.

Europe assumed the second position in the global market and valued at USD 179,324.1 thousand by 2023. Development of smart glass which changes its color according to the light deflected by it as well as its appeal in cookware owing to its low thermal expansion co-efficient (CTE) will drive its demand as well.

Competition Outlook

Nippon Electric Glass Co., Ltd., Kanger Holdings, EuroKera, Corning Incorporated, Ohara Corporation, Jingniu Glass-ceramics Group Co., Ltd, Far East Opto-Electronics Co., Ltd, Kedi Glass-Ceramic Industry Co., Ltd, Huzhou Tahsiang Glass Products Co., Ltd, ILVA Glass SpA, SCHOTT AG, and Elan Technology are key players of the global glass-ceramics market.