Increase in solar power initiatives in emerging nations and demand for household appliances is driving the global borosilicate glass market.
The size of the global market for Borosilicate Glass is expected to reach US$ 4 Billion by 2032, expanding at a compound annual growth rate (CAGR) of 7%.
Covid 19 Impact & Market Status
The COVID-19 epidemic had a devastating impact on the glassware industry. Due to a scarcity of supply and disturbed delivery networks, demand for glassware reduced during the pandemic. The Production and further supply chain operations were forced to close. Also, lockout limited customers to fancy dining experiences and discouraged the use of new glassware. Consumers with high level of availability and interest in luxury glassware products have moved their focus to vital items to assist them get through the shutdown. Also, in the post-pandemic scenario the demand for borosilicate glass is steadily increasing.
High Borosilicate Glass Segment Witnessed Highest Market Growth
The global borosilicate glass market is classified into high borosilicate glass and medium borosilicate glass on the basis of type. Among these, the high borosilicate glass segment witnessed more market demand due to owing to advantages like optical clarity, cleanability, compact design, corrosion resistance, high temperature range, structural integrity, and more such beneficial properties have increased the demand for high borosilicate glass.
Medical Segment Experienced Highest Demand for Borosilicate Glass
The global borosilicate glass market is classified into solar energy tubes, heat glassware, laboratory glassware, pharmaceutical packaging, chemical apparatus, lamps, tube envelopes, medical and others on the basis of application. The medical segment witnessed more demand for borosilicate glass. Because of its widespread use in implanted medical devices and other medical applications such as bone cement, ampoules, and prosthetic eyes, one of the primary reasons driving the borosilicate glass market is advancements in medical and healthcare technology.
APAC Dominated the Market
Consumer and home appliance consumption has grown in the Asia Pacific area as a result of rapid population expansion, urbanisation, and rising disposable income. Furthermore, the expansion of the electronic and semiconductor industries in nations such as South Korea, Japan, China, and Taiwan has strengthened the region's borosilicate glass industry. Furthermore, government initiatives in countries such as China and India to create solar power plants have aided market expansion. Owing to the aforementioned factors, Asia Pacific is expected to be a significant borosilicate glass market.
Despite these advanced economies, North America and Western Europe will be promising markets for borosilicate glass due to its growing use in a variety of applications. South America is predicted to be a profitable prospective market for borosilicate glass due to the installation of solar power projects, as well as increased urbanisation and expanding spending ability. Additionally, due to rising demand for borosilicate glass in a variety of end-use applications, the Middle East and Africa are likely to become a major market for the material.
Owing to benefits such as low thermal expansion coefficient, high thermal resistance, corrosion resistant, strong mechanical strength, and low gas melting temperature, the borosilicate glass is experiencing rapid adoption as opposed to regular alternative like soda lime glass thus fostering remarkable progress in global borosilicate glass market.
The factors such as increased trend of using borosilicate glass products in kitchen appliances, significant increase in operations and machinery, increasing demand for environment friendly products, increasing urban trend, increasing population incorporating sustainable solutions, increasing solar power projects are driving the global borosilicate glass market.
The advantages such as physical durability, less prone to chemical attack, low coefficient expansion, higher resistance to thermal shock, better heat tolerance, wider range of thermal strain, highly resistant to acids, corrosion resistant membrane encourage further adoption. These factors collectively influence rapid growth of global borosilicate glass estimate to reach close to US$ 575.17 million by 2029 with an annualized growth rate of 8.68% through the forecast span 2022-2029.
Changes in consumer preferences and their shifting tastes and lifestyles, as well as an increase in the Middle-Class population, a surge in high disposable income, high investment in the hotel and catering industries, and changes in consumer preferences and their shifting tastes and lifestyles, are all important drivers for the growth of the glassware market. Glassware demand is further boosted by consumer preferences for fine dining and a growing interest in beautiful glassware.
Borosilicate glass is made of glass made with silica and boron trioxide. Silica sand, boric oxide, alumina, and soda ash are melted and combined to make borosilicate glass. The manufacturing process is determined by the product geometry. Borosilicate glass is used in a wide range of applications, from cookware to laboratory equipment, due to its various qualities. Furthermore, borosilicate glass is commonly employed in both medical and electronic implanted devices.
Increasing R&D efforts and the number of research partnerships with universities and institutes to improve the qualities of borosilicate glass, on the other hand, are also contributing to the global borosilicate glass market growth.
Solar panels and rear windshields on certain automobiles are also made of borosilicate glass. Borosilicate glass is sold under a variety of brand names, including Pyrex, Borosil, Supermax, Endural, and others. Despite its excellent heat resistance, borosilicate glass can break if the temperature changes abruptly or unevenly. Furthermore, borosilicate glass cannot be heated with strong alkaline solutions or phosphoric acid, which is one of the disadvantages of using the material. This is limiting the demand of borosilicate glass with demand for alternative products hampering the global borosilicate glass market.
Also, during the production of borosilicate glass, however, an oxygen torch is necessary. Some of the constraints limiting the growth of the borosilicate glass market include the high cost of oxygen gas and limits on the usage of oxygen cylinders. The market's availability of low-cost, low-quality plastic and ceramic items serves as a substitute for glassware, limiting the glassware market's development. Increased demand for plastic and ceramic items will result in fierce rivalry, resulting in a decrease in demand for glasses.
However, the demand for borosilicate glass is increasing. Consumption of consumer and household appliances has grown as a result of rising population, urbanisation, and greater buying capacity, which has bolstered the borosilicate glass industry. Furthermore, the market for borosilicate glass will be fuelled by an increase in solar power initiatives in emerging nations. The borosilicate glass market is benefiting from the growth of the automobile industry.
Some of the companies operating in global borosilicate glass market are Noritake Co., Limited (Japan), Villeroy & Boch AG (Germany), Guy Degrenne SA (Italy), Lifetime Brands, Inc (US), Lenox Corporation (US), The Zrike Company, Inc (US), World Kitchen, LLC (US), Libbey, Inc (US), Oneida Ltd (US), and Borosil Limited (India) among others.
Latest Innovation in the Global Borosilicate Glass Market: A Snapshot
On October 13, 2021 German manufacturer Schott launched lithium alumino borosilicate (LABS) cover glass which be used for smartphones. The glass has high durability, 100 percent drop performance, and other unique features making the smartphone safer to use.
Borosilicate Glass Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||US$ 575.17 million|
|Growth Rate||CAGR of 8.68 % during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Noritake Co., Limited (Japan), Villeroy & Boch AG (Germany), Guy Degrenne SA (Italy), Lifetime Brands, Inc (US), Lenox Corporation (US), The Zrike Company, Inc (US), World Kitchen, LLC (US), Libbey, Inc (US), Oneida Ltd (US), and Borosil Limited (India) among others.|
Key Segments of the Global Borosilicate Glass Market
Type Overview, 2019-2029 (USD Million)
- High Borosilicate Glass
- Medium Borosilicate Glass
Application Overview, 2019-2029 (USD Million)
- Solar Energy Tubes
- Heat Glassware
- Laboratory Glassware
- Pharmaceutical Packaging
- Chemical Tubes
Regional Overview, 2019-2029 (USD Million)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa