Glass Ceramics Market is driven by development of nano-phase ceramics, low thermal expansion, and surge in urbanization. However, high costs of optical ceramics hinder the market growth. On the other hand, increase in the manufacturing of antennas for Wi-Fi applications and mobile phones in the electronics industry create new opportunities in the coming years.

Allied Market Research published a report, titled, According to the report, the global glass ceramics industry generated $1.3 billion in 2020, and is estimated to reach $2.4 billion by 2030, witnessing a CAGR of 6.0% from 2021 to 2030.

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Based on region, Asia-Pacific, followed by North America, held the largest market share in 2020, contributing to more than one-third of the global glass ceramics market, and is expected to maintain its dominance in terms of revenue by 2030. Moreover, this region is expected to register the fastest CAGR of 7.3% from 2021 to 2030. This is due to growth of the optics and optoelectronics industry in emerging countries in the region.

The global glass ceramics market is expected to grow due to the building industry's expansion and increased demand. Glass ceramics are less expensive than other materials. They also aid in the reduction of noise and are used in industrial and commercial sectors. In the aerospace industry, glass ceramics are currently used in nosecones of high-end aircrafts and missiles. They are required to withstand harsh conditions resulting from atmospheric reentry, erosion, and rain. As a result, they are employed in the aerospace industry owing to their combination of properties such as excellent abrasion resistance and high mechanical strength.

By composition, the lithium-aluminium-silicate (LAS) segment is projected to hold a significant share in the market, and is expected to remain dominant during the forecast period, exhibiting remarkable growth.

Based on application, the building & construction segment contributed to the largest share in 2020, accounting for around two-fifths of the global glass ceramics market, and is projected to continue its leadership status during the forecast period. This is attributed to rise in living standards, population, and urbanization in major developing countries across the world. However, the optical segment is expected to witness the largest CAGR of 7.3% from 2021 to 2030. This is due to high usage of optical ceramics owing to their better mechanical and optical properties.

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Covid-19 Scenario

• Manufacturing activities of glass-ceramics stopped due to lockdown measures implemented in many countries. Moreover, disruptions in the supply chain and shortage of raw materials presented new challenges in manufacturing with full capacity.
• The demand from application industries such as building & construction, aerospace, optical, and others reduced considerably due to the stoppage of day-to-day operations during the lockdown. However, the demand is estimated to rise grow steadily post-lockdown as daily operations resume.

Leading Market Players

Highlights of the Report – Competitive landscape of the glass ceramics market. – Revenue generated by each segment of the glass ceramics market by 2030. – Factors expected to drive and create new opportunities in the industry. – Strategies to gain sustainable growth of the market. – Region that would create lucrative business opportunities during the forecast period. – Top impacting factors of the glass ceramics market.

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Tags: Itly, Glass Ceramics Market Size, United Kingdom, China, Asia, United States, Asia-Pacific, korea, North America, Europe, Glass Ceramics Market, Ceramic, Glass Ceramics Industry, Glass, Glass Ceramics, Singapore, Japan

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