Borosilicate Glass Market is forecast to reach $1.21 billion by 2025, after growing at a CAGR of 3.97% during 2020-2025. Advances in Health and medical technologies, Growing demand for solar tubes and laboratory equipment is driving the growth of the market. Increasing urbanization population and household appliance consumption are further boosting the borosilicate glass market. The report covers Borosilicate Glass Market size by type and applications, Borosilicate Glass Market share by top 5 companies and also the market share by start-ups during the forecast period.
Type – Segment Analysis
Non-Alkaline-Earth Borosilicate Glass segment held the largest share in the Borosilicate Glass Market in 2018. Chemical resistance and thermal expansion are high. In a wide range of industries, high-quality borosilicate are used mainly for a technical application that requires good thermal resistance, high chemical resistance, and high light transmission combined with pristine surface performance. The glass tubing, piping, glass containers, etc., especially for the chemical industry, also include typical applications of different forms of borosilicate glass.
Application – Segment Analysis
Solar Glass sector has been the primary market for Borosilicate Glass for many years. The growth in borosilicate glass markets around the globe is driven by the production of the solar power and the increased use of borosilicate glass in various applications because of its enhanced thermal, mechanical, and optical features. Increasing supply incomes and growing solar projects in emerging economies like China and India continues to drive market growth.
Geography – Segment Analysis
APAC dominated the Borosilicate Glass Market with a share of more than 30.9%, followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for the economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in the Heat Resistant Glass Panel.
Drivers – Borosilicate Glass Market
Reduced environmental pollution and government incentives and tax rebates for the installation of solar panels are driving the development of the solar energy industry. Thus, simultaneously increases the demand for Borosilicate Glass Market
Challenges – Borosilicate Glass Market
The shift towards Plastic usage in the developed and developing nations would hamper the growth of the Borosilicate Glass Market over the forecast timeframe. Plastic apparatus is less cost when compared to Borosilicate Glass. Rising demand for convenient and attractive products owing to rapid urbanization and industrialization is boosting the plastic market will hamper the growth of the Borosilicate glass market.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Borosilicate Glass market. In 2018, the market of Borosilicate Glass has been consolidated by the top five players accounting for xx% of the share. Major players in the 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., among others.
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