The Borosilicate Glass Market is estimated at USD 2.15 Billion in 2022, registering at a promising CAGR of 8.56 % from 2023 to 2032. The historic year considered is 2019,2020,2021 and the base year considered for the study is 2022, the estimated year is 2023 and the forecast has been provided for the period, 2023 to 2032.
Increasing demand from medical & healthcare and electronics for various applications is expected to drive the market growth of the Borosilicate Glass Market during the forecast period. Borosilicate glass is manufactured by melting and combining silica sand, boric oxide, alumina, and soda ash. Borosilicate glass has various properties, such as low thermal expansion coefficient, high thermal resistance, high chemical corrosion resistance, high mechanical strength, etc., which make it a suitable material for use in various applications in numerous end-user industries. However, borosilicate glass cracks due to sudden or uneven temperature variations, which can hamper its market growth.
Segment Analysis:
Based on type, the market has been segmented into alkaline earth containing borosilicate glasses, non-alkaline earth borosilicate glass, and high-borate borosilicate glasses. High-borate borosilicate flat glasses are used in a wide variety of industries, mainly in technical applications due to their high thermal resistance and excellent chemical durability.
The borosilicate glass market is expected to witness high growth in the medical & healthcare industry due to the increased use of borosilicate glass in medical and healthcare devices. This market is expected to grow in the Asia Pacific region due to rapid growth in population, along with increasing urbanization and a rise in disposable incomes, which has led to the increased purchase of home appliances.
Key Factors Impacting Market Growth:
- Rapid development of the solar power industry
- Borosilicate glass cracks due to sudden or uneven temperature variations
- Application of borosilicate glass in medical and healthcare industries
Regional Analysis:
The borosilicate glass market by region has been segmented by North America, Western Europe, Asia Pacific, Middle East, Eastern Europe, and the Rest of the World. North America and Western Europe are major regions for the borosilicate glass market owing to diversified demand from end-use industries and competitive scenarios. Some of the major end-use industries in these regions include medical & healthcare, electronics. These markets have been dynamic in terms of new product developments and related activities. Hence, some of the emerging sub-segments in this market promise high potential in this region. Major countries for the borosilicate glass market in these regions include the US, Germany, France, UK, Canada, Italy, and so on. Recent economic slowdowns, trade implications and environmental concerns are some of the key impact factors influencing the market dynamics in these regions. Developing regions including Asia Pacific, South America, and Africa have witnessed key developments in terms of organic and inorganic growth strategies. Global companies have made strategic investments in these regions with favorable production conditions and high demand from end-use industries. China, India, Brazil, South Africa, South Korea, Japan, and others have been some of the key economies in the region. medical & healthcare, electronics, optics, and others are some of the major industries in the region with strong potential for the borosilicate glass market. Middle East promises a strong market potential with demand from countries including UAE, Saudi Arabia, Qatar, and others that are seeking to diversify the economic outlook. Eastern Europe consisting of Russia and Turkey is also estimated as one of the key markets with demand from medical & healthcare, electronics, optics, and other industries.
Companies Covered:
Asahi Glass Co, Ltd., Borosil Glass Works Ltd., De Dietrich Process Systems, Duran Group, Gerresheimer AG, Hilgenberg GmbH, Kavalierglass of North America, Inc., Noble Glass Works Pvt. Ltd., Schott AG, and Shandong Yaohui Solar Co., Ltd.
Market Segmentation:
By Type:
- Alkaline Earth Containing Borosilicate Glasses
- Non-Alkaline Earth Borosilicate Glass
- High-borate Borosilicate Glasses
By Sales Channel:
- Direct
- Distribution
By Application:
- Heat-resistant Glass Panels
- Display Screens
- Lighting Glass
- Sealing Glasses
- Neutral Glasses
- Cosmetic Containers
- Solar Glass
- Glass Microspheres
- Other
By End User:
- Medical & Healthcare
- Electronics
- Optics
- Other
By Region:
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Russia
- UK
- France
- Italy
- Spain
- The Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Indonesia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
Reasons to Buy This Report:
- Market size estimation of the global borosilicate glass market on a regional and global basis
- Unique research design for market size estimation and forecast
- Profiling of major companies operating in the market with key developments
- Broad scope to cover all the possible segments helping every stakeholder in the market
Customization:
We provide customization of the study to meet specific requirements:
- By Segment
- By Sub-segment
- By Region/Country
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